📄Proposed Changes to Labor Organization Reporting Requirements
Proposed Extension of Information Collection; Labor Organization and Auxiliary Reports
Summary
In compliance with the Paperwork Reduction Act of 1995 (PRA), the U.S. Department of Labor is soliciting public comments regarding the proposal to amend the currently approved information collection request under OMB Control Number 1245-0003, specifically its proposal to revise the filing thresholds for the Form LM-2, Form LM-3, and Form LM-4 Labor Organization Annual Reports required under Section 201 of the Labor-Management Reporting and Disclosure Act (LMRDA). Additionally, the Department is proposing to amend the definition of "minor child" on the Form LM-30 Labor Organization Officer and Employee Report.
Agencies
- Labor Department
- Labor-Management Standards Office
Business Impact
$$ - Med
The proposed amendments to filing thresholds for labor organization reports greatly impact compliance requirements for businesses involved with labor unions. Increased thresholds may reduce reporting burdens, thus affecting labor relations management. Additionally, redefining "minor child" clarifies conflict of interest disclosures which could affect financial oversight.