Number: 07-05

June 22, 2005

Information and FAQs on Trusts and Form LM-30 and Form LM-10 Now Available on the OLMS Web Site

The Office of Labor-Management Standards (OLMS) has received numerous questions related to the circumstances in which payments from a trust in which a union is interested are reportable on Form LM-30, Labor Organization Officer and Employee Report, and on Form LM-10, Employer Report.

A trust in which a labor organization is interested is defined in section 3(l) of the Labor-Management Reporting and Disclosure Act (LMRDA) as a -trust or other fund or organization (1) which was created or established by a labor organization, or one or more of the trustees or one or more members of the governing body of which is selected or appointed by a labor organization, and (2) a primary purpose of which is to provide benefits for the members of such labor organization or their beneficiaries.- Trusts can be banks, credit unions, joint funds, also called Taft-Hartley funds, strike funds, building funds, building corporations, training funds, payroll service providers, and numerous other organizations.

We have today posted a new page on the OLMS Web site that will help answer these questions.

The information on this page includes a discussion of each of the three parts of Form LM-30 and when each part would have to be completed by a union officer or employee to report payments from a trust, as well as many frequently asked questions related to trusts and Form LM-30 and Form LM-10.

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Last Updated: 06/27/05