When is lm 2 due

Disbursements should be allocated among the categories when applicable. For example, salaries and legal fees usually relate to several of the classes and should be allocated among them. Best practice for an organization is to track disbursements by the natural expense category as well as by the LM-2 functional category as each disbursement is recorded.

Also note that Officers may use good faith estimates when preparing the Form LM-2 but can be held criminally liable for making any false statement or knowingly misrepresenting a material fact. The Officers of the organization are also responsible for maintaining records that will provide sufficient information to verify the accuracy and completeness of the report.

Remember, it is important to understand and keep track of the disbursements by functional category throughout the year as this information will be needed to prepare the DOL Form LM By continuing to use this website, you agree to this condition of use. For further information please see our privacy policy. The five functional categories on the Form LM-2 are: Representational Activities —Costs related to the administration, negotiation and enforcement of collective bargaining agreements, organizing efforts, membership events and training related to the collective bargaining process.

Political Activities and Lobbying —Costs in support of political candidates, support for or opposition to ballot referenda, voter registration and education programs, contributions to PAC Funds, and tickets to political events and fundraisers. If a labor organization experiences unanticipated technical difficulties that prevent the timely preparation and submission of an electronic filing of a financial annual report, the labor organization may be eligible for a temporary hardship exemption.

Additionally, labor organizations that file the Form LM-2 may be required to file a Form T-1 Trust Annual Report for trusts in which they are interested. For further information, please view the Form T-1 information page. If you have difficulty navigating the software, or have questions about its functions and features, you can get help in the following ways:. Specifications for Importation of Financial Data. Breadcrumb OLMS.