How much of the Form T-1 must be completed for a terminal report?
A. The entire Form T-1 must be completed for a terminal report. If the labor organization is filing the terminal report because it no longer has an interest in the trust and the due date for the Form T-1 is in the middle of the trust’s fiscal year, the labor organization should take whatever steps it can to secure the necessary information. If the labor organization is unable to obtain the necessary information, it should contact OLMS and provide evidence that it has made a good faith effort to obtain the information. OLMS has authority to then contact the trust and attempt to assist the labor organization in obtaining the necessary records.
