OFFICE OF LABOR-MANAGEMENT STANDARDS ISSUES RULE: LABOR ORGANIZATION ANNUAL FINANCIAL REPORTS

WASHINGTON, June 1 -- Office of Labor-Management Standards has issued a rule called: Labor Organization Annual Financial Reports.

The rule was published in the Federal Register on June 1 by Elisabeth Messenger, Director, OLMS.

Summary: The Department of Labor (Department) publishes this combined final rule to its regulations to improve its LM Labor Organization Annual Financial Reports by establishing a longer LM form for the largest labor organizations (Form LM-2 Long Form), revising a slightly shorter form for most labor organizations at and above the $350, 000 threshold (Form LM-2), making a parallel revision to Form LM-3, and updating reporting thresholds for Forms LM-3 and LM-4 to promote financial integrity and transparency. The fin...