Alerts

Department of Labor Reporting Requirement Extends to Taft-Hartley Funds

July 5, 2005

Federal law requires "employers" (i.e., any business engaged in an industry affecting commerce that employs any employees) that engage in certain financial transactions or arrangements with a union, union representative, or labor relations consultant to file a Form LM-10/Employer Report with the United States Department of Labor ("DOL") to disclose specific transactions or arrangements.  Pursuant to recent DOL guidance, Taft-Hartley funds (and other organizations such as banks, credit unions, strike funds, building funds, building corporations, training funds, and payroll service providers) may have Form LM-10 reporting obligations.