March 29, 2021
OLMS New 01-21: Notice of a non-enforcement policy in connection with an intended rulemaking to rescind the Form T-1 Trust Annual Report
In the spring 2021 Semi-Annual Regulatory Agenda, the Office of Labor-Management Standards (OLMS) will publish notice of an intended rulemaking to propose rescission of the Form T-1 Trust Annual Report, established by a March 2020 final rule. See: www.dol.gov/agencies/olms/laws/regulations/final-rule-t1. Fundamental questions exist regarding the rule’s legal basis and policy justifications, but, under the current rule, initial Form T-1 reports must be filed by September 28, 2021.
OLMS has determined that it would not be a good use of resources to bring enforcement actions based upon a failure to file the initial Form T-1 report in light of fundamental questions relating to the legal basis and policy justifications of the rule, the anticipated regulatory action to propose rescinding the Form T-1, and the rapidly approaching filing deadline and associated recordkeeping burden for would-be filers. Under the current rule, Form T-1 reports are due to be filed commencing on September 28, 2021. Consistent with this non-enforcement policy and intent to pursue notice-and-comment rulemaking, OLMS will not seek to enforce the filing of a Form T-1 for one year from the date a labor organization’s first Form T-1 is due.
Last Updated: 3-29-21