Trust Annual Reports

This rule extends the filing due date of Form T-1 Trust Annual Reports required to be filed during calendar year 2010. The Form T-1 is an annual financial disclosure report required to be filed, pursuant to the Labor-Management Reporting and Disclosure Act (LMRDA), by labor unions with total annual receipts of $250,000 or more about certain trusts in which they are interested. Labor unions are required to use the Form T-1 to disclose financial information about these trusts, such as assets, liabilities, receipts, and disbursements. The Department established the Form T-1 in a final rule published October 2, 2008, with an effective date of January 1, 2009. Subsequently, the Department announced its intention to propose withdrawal of the Form T-1 (Spring 2009 Regulatory Agenda, Fall 2009 Regulatory Agenda). The Department also held a public meeting on July 21, 2009, and received comments from interested parties concerning provisions of the Form T-1 and its proposed rescission. On December 3, 2009, the Department published a Notice of Proposed Rulemaking proposing to extend for one year Form T-1 reports due in calendar year 2010, pending the completion of a rulemaking proposing to withdraw the October 2, 2008 Form T-1 rule. In consideration of comments received, the Department now extends for one calendar year the filing due date of the Form T-1 reports otherwise required to be filed during 2010.