Office of Labor-Management Standards (OLMS)
Form LM-2 and Form LM-3 Rulemaking
On October 13, 2009, the Office of Labor-Management Standards (OLMS) published in the Federal Register a final rule that rescinds the regulations published in the Federal Register on January 21, 2009. See: http://edocket.access.gpo.gov/2009/pdf/E9-24571.pdf.
The January 21, 2009 regulations (74 FR 3677) made several revisions to the current Form LM-2, used by the largest labor organizations to file their annual financial reports under the Labor-Management Reporting and Disclosure Act of 1959, as amended, and established a procedure by which the Secretary of Labor may revoke, under certain circumstances, a particular labor organization's authorization to file a simplified Form LM-3 annual report. For more background on this rulemaking, please visit here.
The final rule rescinding the January 21, 2009 regulations became effective on October 13, 2009. Therefore, labor organizations are not required to initiate any of the accounting, software, or other changes that would have been necessitated by the now rescinded regulations. Requirements and instructions for the Form LM-2 and Form LM-3 currently in use are unchanged.
Last Updated: 10/13/09