DOL Finalizes Major Overhaul of Union Financial Reporting Requirements

On May 29, 2026, the U.S. Department of Labor announced a final rule providing a significant update to labor union financial reporting requirements, modernizing Form LM-2 annual disclosure. The rule represents the most substantial overhaul of union financial transparency requirements in years, affecting how unions report officer salaries, disbursements, and financial activities. Labor unions and their counsel should assess compliance timelines and update their reporting practices accordingly.