July 1, 2005

MULTIEMPLOYER PLAN ALERT

Attention Trustees, Trust Funds, And Fund Service Providers: Do You Need To Report Trustee Reimbursements Or Other Items By July 15?

The U.S. Department of Labor (DOL) requires certain union trustees of Taft-Hartley trust funds to file a Form LM-30 to disclose transactions, reimbursements, and receipt of other items of value from employers. The DOL also requires many trusts and trust service providers to report on a Form LM-10 reimbursements and other items of value provided to some union trustees. Typically, these filings are due within 90 days after the end of the filer's fiscal year. Although enforcement of these requirements has been inconsistent in the past, the DOL recently announced renewed efforts to enforce these filing requirements. As part of this new enforcement initiative, the DOL is providing a grace period for union trustees to file the Form LM-30 for the 2004 calendar year. That grace period expires on July 15, 2005. Learn more.

This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.