Labor Department Updates Union Financial Reporting Forms and Thresholds

The Labor Department has finalized changes to how labor unions report their finances. This rule updates the forms that unions must file annually, including a new long-form version of Form LM-2 for larger organizations. It also adjusts the financial thresholds that determine which unions are required to file these reports, accounting for inflation since the last major update in 2003.

Why it matters: These changes improve transparency for union members who want to monitor how their dues are spent. By standardizing the data reported across different forms, it becomes easier to compare financial health between unions. For most people, this is an administrative update that affects union governance and compliance rather than daily operations.

Who it affects

• Labor organizations (unions) required to file annual financial reports with the Department of Labor

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This final rule was issued by the Labor Department’s Office of Labor-Management Standards; readers should consult the full Federal Register notice for specific form instructions and effective dates.

Agency: Labor Department, Labor-Management Standards Office
Source: Federal Register — read the official document