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Office of Labor-Management Standards (OLMS)

OLMS News

Number: 16-06

October 4, 2006

Final Rule on Form T-1, Trust Annual Report, Issued by Department of Labor

On Friday, September 29, 2006, the Department of Labor, Office of Labor-Management Standards (OLMS) issued a Final Rule for Form T-1, Trust Annual Report. Form T-1 will be used by labor organizations with $250,000 or more in annual receipts to file annual financial reports about particular trusts to which they contributed money or otherwise provided financial assistance. The Final Rule is effective for trust fiscal years beginning January 1, 2007 and thereafter.

Form T-1 was first issued on October 9, 2003 in a Final Rule with the revised Form LM-2 (68 FR 58374). On May 31, 2005, the U.S. Court of Appeals for the District of Columbia Circuit vacated the part of the rule relating to the Form T-1 (American Federation of Labor and Congress of Industrial Organizations v. Chao, 409 F.3d 377). To conform to that decision, the Department has published a Final Rule that revises the filing criteria. A union must file a Form T-1 if it, acting alone or with other unions, selects a majority of the members of the trust's governing board or if the union's contribution to the trust, alone with other unions, represents greater than 50% of the trust's revenue in the one-year reporting period. This is in addition to the requirements that the union and the trust have $250,000 or more in total annual receipts and that the union's contribution to the trust was $10,000 or more during the reporting period.

The content of Form T-1 is the same as in 2003. The instructions have changed to reflect the new filing requirements.

Form T-1 must be filed within 90 days after the end of the union's fiscal year. The Form T-1 must cover the trust's most recent fiscal year, that is, the fiscal year ending on or before the ending date of the union's fiscal year. However, no Form T-1 is required for any fiscal year of a trust that began before January 1, 2007.

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Last Updated: 10/04/06

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