Derrick becomes the latest in a long line of football executives sanctioned by the ethics committee of football's world governing body, which has thrown dozens of people out of the sport over graft.
In a statement, Zurich-based Fifa said the case centred on “alleged conflicts of interest, offering and accepting gifts and other benefits, mismanagement of funds, abuse of position and disloyalty”.
A native of Antigua and Barbuda, Derrick was also fined 30,000 Swiss francs ($31,154).
Derrick had last year sought to take charge of the governing body for football in North America, Central America and the Caribbean (Concacaf) — after the two previous chiefs were brought down by their own corruption scandals.
But Derrick was barred from running in the Concacaf vote after failing a background check by Fifa's compliance committee.