April 22, 2009
Form LM-2 and Form LM-3 Rulemaking
On April 21, 2009, the Office of Labor-Management Standards (OLMS) published a notice in the Federal Register seeking public comment on a proposal to rescind the regulations published on January 21, 2009 (74 FR 3677). See http://edocket.access.gpo.gov/2009/pdf/E9-9175.pdf. The regulations made revisions to Form LM-2 and established a procedure whereby the Department may revoke, when warranted, the authorization to file the simplified report Form LM-3. See http://edocket.access.gpo.gov/2009/pdf/E9-503.pdf. For more background on this rulemaking, please visit here.
Additionally on April 21, 2009, OLMS published a final rule that delayed the effective date of the January 21, 2009 regulations until October 19, 2009, and delayed the applicability date of the regulations until January 1, 2010. This will allow additional time for the agency and the public to consider the proposal to rescind the January 21, 2009 regulations and, meanwhile, to permit unions to delay costly development and implementation of any necessary new accounting and recordkeeping systems and procedures, pending this further consideration. The final rule delaying the effective and applicability dates can be viewed here: http://edocket.access.gpo.gov/2009/pdf/E9-9182.pdf.
The comment period for the proposed rescission of the January 21, 2009 regulations will close on May 21, 2009.
For additional information, including how to submit comments on the proposal to rescind, please visit the Form LM-2 and Form LM-3 rulemaking page on the OLMS Web site at: http://www.dol.gov/OLMS/regs/compliance/lm2_lm3rule.htm.
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Last Updated: 04/22/09