The record is the band's seventh studio release, and their first new album in 18 years. Faith No More last released Album of the Year in 1997.
Original members Billy Gould, Roddy Bottum and Mike Bordin collaborated with bandmates Mike Patton and Jon Hudson on the project. The album will be released on the band's own imprint, Reclamation Records, and distributed by Patton's label, Ipecac Recordings.
"The name has to do with the fact that we realized we were free from our recording obligations," Gould told Rolling Stone. "We weren't touring, we have these songs that we are working on -- that we think are pretty cool -- and why don't we just do our own imprint and kind of reclaim our future, in a way? We own the future more than we ever have."
Faith No More originally formed as "Faith No Man" in 1981, and went through several lineup changes before breaking up in 1998. The group reformed in 2009, and toured across the country for the next three years. The new album is scheduled for release in April 2015, and a U.S. tour is expected to follow.
"I think what we're doing reflects where we've gone since we made our last record as Faith No More," Gould continued. "I think this kicks things up notch. And I think there's parts that are very powerful and there's parts that have a lot of 'space.'"
"Everything we do, with our chemistry, the way we play; it's always going to sound like us," he related. "It's just what we do, that makes us feel good. Hopefully it doesn't sound like a bunch of 50-year-old men... which we are!"