The Form LM-30, also known as the Labor Organization Officer and Employee Report, was established as part of the Labor-Management Reporting and Disclosure Act (LMRDA) of 1959 and revised in 2007.
History
The Form LM-30, aims to disclose “any possible conflicts between their personal financial interests and their duty to the labor union and its members.” Completing and filing an LM-30 is the personal responsibility of the officer or employee, not their labor organization, so union funds should not be used to comply with this obligation.
Requirements
The LM-30 requires union officers or employees (except employees performing exclusively clerical or custodial services) to report certain direct or indirect payments, interests or transactions (“reportable transactions”) involving:
- Employers whose employees the union represents or seeks to represent.
- Businesses such as vendors and service providers that buy from or sell to employers, union or a union’s trust.
- Other employees that could create a conflict.
This requirement extends beyond union officer and certain employees to include also spouses and minor children (under 21 yrs old). There are certain financial holdings and gifts or loans of small value that are exempt from this requirement.
Click here to read the Department of Labor’s Form LM-30 Fact Sheet for detailed information and guidance.
Take Aways
The LM-30 plays a vital role in promoting transparency and accountability within labor unions by requiring the disclosure of potential conflicts of interest. By adhering to the requirements and following best practices, union officers and employees can help maintain the integrity of their organizations and uphold the trust of their members.
Contact Us
For more information on this topic, please contact a member of Withum’s Labor Unions Services Team.
