Labor Department Finalizes New Long-Form Financial Disclosure Rule for Large Unions
By
Parker Purifoy
Toasted to a respectable shade. No regrets, no crumbs left.
Summary
The Labor Department's Office of Labor-Management Standards has finalized a rule creating a new LM-2 Long Form financial disclosure form for the largest labor unions. Unions with over $40 million in annual receipts must use this longer form, which mirrors a proposal from the first Trump administration. The rule also changes reporting thresholds for other forms, altering how labor unions report their finances to the federal government.
Key quotes
· 3 pulledThe Labor Department has created a longer financial disclosure form for the largest unions to use, altering the way labor reports its finances to the federal government.
The DOL's Office of Labor-Management Standards released the final rule Friday establishing the new LM-2 Long Form disclosure and changing reporting thresholds for other forms.
Labor unions with more than $40 million in annual receipts would have to file the new LM-2 Long Form report, mimicking a proposal from the first Trump administration.
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