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Office of Labor-Management Standards (OLMS)

OLMS News

Number: 08-08

May 12, 2008

Labor Organization Annual Financial Reports: Notice of Proposed Rulemaking and Request for Comments


The Office of Labor-Management Standards (OLMS) today published a Notice of Proposed Rulemaking (NPRM) to (1) make several revisions to the current Form LM-2 (used by the largest labor organizations to file their annual financial reports) that will provide additional information on labor union sales and purchases of investments and fixed assets and disbursements to officers and employees (Form LM-2 Schedules 3, 4, 11 and 12), and add itemization schedules corresponding to categories of receipts, and (2) establish a procedure and standards by which the Secretary of Labor may revoke for a limited time a labor organization’s privilege to file the simplified Form LM-3, where appropriate, after investigation, due notice, and opportunity for a hearing. The proposed changes are made pursuant to section 208 of the Labor-Management Reporting and Disclosure Act (LMRDA). The proposed rule will apply prospectively.
Comments must be received on or before June 26, 2008.

You may submit comments, identified by RIN 1215-AB62, only by the following methods:

Internet – Federal eRulemaking Portal. Electronic comments may be submitted through www.regulations.gov. To locate the proposed rule, use key words such as "Labor-Management Standards" or "Labor Organization Annual Financial Reports" to search for documents accepting comments. Follow the instructions for submitting comments. Please be advised that comments received will be posted without change to www.regulations.gov, including any personal information provided.

Mail: Mailed comments should be sent to:

Kay H. Oshel
Director of the Office of Policy, Reports and Disclosure
Office of Labor-Management Standards
U.S. Department of Labor
200 Constitution Avenue NW, Room N-5609
Washington, DC 20210

Because of security precautions the Department continues to experience delays in U.S. mail delivery. You should take this into consideration when preparing to meet the deadline for submitting comments.

OLMS recommends that you confirm receipt of your mailed comments by contacting (202) 693-0123 (this is not a toll-free number). Individuals with hearing impairments may call (800) 877-8339 (TTY/TDD).

Only those comments submitted through www.regulations.gov, hand-delivered, or mailed will be accepted.

Comments will be available for public inspection during normal business hours at the above address.

For additional information and links to the Federal Register Notice, please visit the Labor Organization Annual Financial Reports NPRM page on the OLMS Web site at:

http://www.dol.gov/regs/compliance/olms/form_lm2-3.html

Thank you for subscribing to the OLMS Mailing List. We hope that you find this mailing informative. If you need to change your subscription email address or no longer wish to receive mailings from OLMS, please visit the OLMS Mailing List Subscription page at http://www.dol.gov/olms/org/olms-mailinglist.htm.

Last Updated: 05/13/08