My unions fiscal year ends on June 30. If my union has $225,000 in total annual receipts for the fiscal year ending on June 30, 2004, can I file Form LM-3?
A. No. The increase in the threshold for filing Form LM-2 to $250,000 is only effective for fiscal years beginning on or after July 1, 2004. Because the fiscal year ending June 30, 2004 began on July 1, 2003, a Form LM-2 for that year must be filed for a union that had total annual receipts of $225,000, but the old Form LM-2 may be used.
Related Questions
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