Who needs the LM-3 Form?
The LM-3 is the US Department of Labor of Labor-Management Standards form officially known as the Labor Organization Annual Report. It should be filled out and submitted by labor organizations, that is, organizations, agencies or representative committees in which employees are engaged in collective bargaining with employers.
What is the LM-3 Form for?
The Form LM-3, Labor Organization Annual Report is supposed to reveal and explain financial information (e.g. assets, liabilities, receipts and disbursements) of a labor organization that earns total annual receipts of less than $250,000, but over $10,000.
If the total annual receipts of a labor organization exceed this limitation, such an organization is expected to submit the LM-2 Form. And, if an organization's yearly earnings are less than $10,000, the Form LM-4 must be filed.
When is the Labor Organization Annual Report Form due?
A Labor organization is supposed to fill out and submit the Annual LM-3 Report Form within a 90-day period after the end of the organization’s fiscal year (that is a 12-month reporting period). Under no reasons, an extension of due date for filing reports may be allowed by the Department of Labor.
However, if an organization ceased its existence during a fiscal year, it is obliged to file the final financial report within 30 days after going out of existence.
How to fill out the LM-3 Labor Organization Annual Report form?
Due to the significant importance of the required information and all the calculations, the form must be filled out with great attention to the details. Thorough instructions on how to complete the Labor Organization Annual Report can be checked here: https://www.dol.gov/olms/regs/compliance/lm-3_instructions_ar.pdf
Where to submit the completed LM-3 Form?
Being filled out, signed and dated, the Labor Organization Annual Report must be submitted to the U.S. Department of Labor, Office of Labor-Management Standards to the following address: 200 Constitution Avenue, NW, Room N-1519, Washington, DC 20210