Employers must file Form LM-10 annual reports to disclose payments and gifts made to unions, and their officers and employees according to the Labor Management Reporting and Disclosure Act of 1959 (LMRDA), 29 U.S.C. Section 433.
Earlier this month, March 2006, the Office of Labor-Management Standards (OLMS) announced that employers have an additional 45 days to file their Form LM-10 for fiscal year 2005. Employers whose fiscal year ended on 12/31/2005 now have until 5/15/2006 to file the form.
In its FAQ, the Department of Labor (DOL) provides guidance on how employers are able to take advantage of a one-time grace period which allows timely filers to not be required to file delinquent Form LM-10s for any previous years in which they had reportable activity.
Other DOL Form LM-10 topics included in the guidance are: (1) businesses with no employees still may qualify as employers for LM-10 reporting purposes, (2) partnerships ordinarily do not satisfy employer definition, (3) where a corporation has subsidiaries and affiliates and maintains centralized administrative records, each subsidiary or affiliate who made a reportable payment would be required to submit a Form LM-10, (4) the value of a dedicated office space provided by an employer for continuous use by a union, would need to be reported on Form LM-10, (5) widely-attended gathering exemption, (6) an employer does not incur any reportable activity for certain items where reimbursement is made, (6) payments to a union official's spouse, and the (7) DOL"s enforcement authority.
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