January 30, 2004
Court Upholds Rule Implementing Revised Form LM-2 and Form T-1
On January 22, 2004, the United States District Court for the District of Columbia issued an order upholding the rule implementing the revised Form LM-2 and the new Form T-1. The court found the rule to be a valid exercise of the Secretary's statutory authority, reasonable, and adequately explained, but enjoined it from becoming effective until July 1, 2004, or 90 days after the Department of Labor makes a fully tested version of the reporting software available, whichever is later. Therefore, unions with $200,000 or more in annual receipts may use the old Form LM-2 to file their financial reports for fiscal years beginning on any date between January 1 and June 30, 2004. The Department anticipates that the reporting software will be available on the OLMS Web site shortly and that unions with $250,000 or more in annual receipts will be required to use the revised Form LM-2 and the new Form T-1 for fiscal years beginning July 1, 2004, and thereafter.
Thank you for subscribing to the OLMS Mailing List. We hope that you find this mailing informative.
Don't forget to bookmark the OLMS Web site for the latest news and information.
Last Updated: 01/04/04