[Code of Federal Regulations]
[Title 29, Volume 2]
[Revised as of July 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR403.2]

[Page 144-145]
 
                             TITLE 29--LABOR
 
  CHAPTER IV--OFFICE OF LABOR-MANAGEMENT STANDARDS, DEPARTMENT OF LABOR
 
PART 403_LABOR ORGANIZATION ANNUAL FINANCIAL REPORTS--Table of Contents
 
Sec. 403.2  Annual financial report.

    (a) Every labor organization shall, as prescribed by the regulations 
in this part, file with the Office of Labor-Management Standards within 
90 days after the end of each of its fiscal years, a financial report 
signed by its president and treasurer, or corresponding principal 
officers.
    (b) Every labor organization shall include in its annual financial 
report filed as provided in paragraph (a) of this section, in such 
detail as may be necessary accurately to disclose its financial 
condition and operations for its preceding fiscal year and in such 
categories as prescribed by the Assistant Secretary under the provisions 
of this part, the information required by section 201(b) of the Act and 
found by the Assistant Secretary under section 208 thereof to be 
necessary in such report.
    (c) If, on the date for filing the annual financial report of a 
labor organization required under section 201(b) of the Act and this 
section, such labor organization is in trusteeship, the labor

[[Page 145]]

organization which has assumed trusteeship over such labor organization 
shall file such report as provided in Sec. 408.5 of this chapter.
    (d) Every labor organization with annual receipts of $250,000 or 
more shall, except as otherwise provided, file a report on Form T-1 for 
every trust in which the labor organization is interested, as defined in 
section 3(l) of the Act, 29 U.S.C. 402(l), that has gross annual 
receipts of $250,000 or more, and to which $10,000 or more was 
contributed during the reporting period by the labor organization or on 
the labor organization's behalf or as a result of a negotiated agreement 
to which the labor organization is a party. A separate report shall be 
filed on Form T-1 for each such trust within 90 days after the end of 
the labor organization's fiscal year in the detail required by the 
instructions accompanying the form and constituting a part thereof, and 
shall be signed by the president and treasurer, or corresponding 
principal officers, of the labor organization. No Form T-1 need be filed 
for a trust if an annual financial report providing the same information 
and a similar level of detail is filed with another agency pursuant to 
federal or state law, as specified in the instructions accompanying Form 
T-1. In addition, an audit that meets the criteria specified in the 
Instructions for Form T-1 may be substituted for all but page 1 of the 
Form T-1. If, on the date for filing the annual financial report of such 
trust, such labor organization is in trusteeship, the labor organization 
that has assumed trusteeship over such subordinate labor organization 
shall file such report as provided in Sec. 408.5 of this chapter.

[28 FR 14383, Dec. 27, 1963, as amended at 50 FR 31309, Aug. 1, 1985; 68 
FR 58447, Oct. 9, 2003]