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What must be reported in Item 63 (To Affiliates of Funds Collected on Their Behalf) of Statement B of the Form LM-2?

April 26, 2017Affiliates behalf collected form funds reported

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What must be reported in Item 63 (To Affiliates of Funds Collected on Their Behalf) of Statement B of the Form LM-2?

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A. Enter the total disbursements of funds collected on behalf of affiliates by the labor organization. This amount usually is the same as the amount reported in related Item 46 (On Behalf of Affiliate for Transmittal to Them). Any such funds not disbursed by the end of the reporting period are liabilities of the labor organization and must be reported in Schedule 10 (Other Liabilities).