Labor Organization and Auxiliary Reports

Public reporting burden for this collection of information is estimated to average 1 hour 50 minutes per response, including the time for
review instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the
collection of information. Persons are not required to respond to the collection of information unless it displays a currently valid OMB
control number. Reporting of this information is mandatory and is required by the Labor-Management Reporting and Disclosure Act of
1959, as amended (LMRDA), for the purpose of public disclosure. As this is public information, there are no assurances of
confidentiality. If you have any comments regarding this estimate or any other aspect of this information collection, including
suggestions for reducing this burden, please send them to the U.S. Department of Labor, Office of Labor-Management Standards,
Division of Interpretations and Standards, Room N-5609, 200 Constitution Avenue, NW, Washington, DC 20210.

DO NOT SEND YOUR COMPLETED FORM LM-15 TO THE ABOVE ADDRESS.

INSTRUCTIONS FOR FORM LM-15
TRUSTEESHIP REPORT
GENERAL INSTRUCTIONS
I. WHY FILE

delegates of the subordinate labor organization from
participating in the business of the organization which
may be transacted at regular or special meetings; or (4)
otherwise interferes with the autonomy of the
subordinate labor organization; all as provided in the
constitution and bylaws or other pertinent documents,
and the practices and procedures developed thereunder,
of both the organization which has established the
trusteeship and the subordinate labor organization.

The Labor-Management Reporting and Disclosure Act of
1959, as amended (LMRDA), the Civil Service Reform
Act (CSRA), and the Foreign Service Act (FSA) require
public disclosure of certain matters pertaining to a
trusteeship which a labor organization imposes on a
subordinate body. The Secretary, under the authority of
the LMRDA, the CSRA, and the FSA has prescribed the
filing of the Trusteeship Report, Form LM-15, to satisfy
the requirement to disclose information on the imposition
of a trusteeship and to semiannually disclose the status
of the trusteeship.

III. WHAT FORMS TO FILE
An initial Form LM-15 must be filed when a parent body
imposes a trusteeship on a subordinate body. Form
LM-15 reports must also be filed semiannually for the
duration of the trusteeship.

II WHO MUST FILE
Every labor organization subject to the LaborManagement Reporting and Disclosure Act of 1959, as
amended (LMRDA), the Civil Service Reform Act
(CSRA), or the Foreign Service Act (FSA) which has
established a receivership, trusteeship, or other method
of supervision or control, suspending the autonomy
otherwise available to a subordinate labor organization
under its constitution or bylaws, must file trusteeship
reports with the Office of Labor-Management Standards
(OLMS) of the U.S. Department of Labor.

Other Required Reports
Report on Selection of Delegates and Officers - A
Report on Selection of Delegates and Officers, Form
LM-15A, must be filed with an initial, semiannual, or
terminal trusteeship report if, during the period covered
by the report, (1) any convention or other policydetermining body met to which the trusteed labor
organization sent delegates or would have sent
delegates if not in trusteeship; or (2) the labor
organization which imposed the trusteeship over the
subordinate organization held an election of officers.

A Trusteeship Report, Form LM-15, is required
whenever supervision or control has been employed
which has the effect of suspending any right which a
subordinate labor organization otherwise has to carry on
its own affairs. Suspension of autonomy will ordinarily
include any method of supervision or control which (1)
interferes with or restricts the functions of the officers of
the subordinate labor organization; (2) prevents the
members of the subordinate labor organization or, in the
case of an intermediate body, their elected delegates
from electing officers; (3) prevents the members or

Terminal Trusteeship Report - A Terminal Trusteeship
Report, Form LM-16, must be filed (along with a Labor
Organization Annual Report, Form LM-2) within 90 days
after the date that the trusteeship is terminated. The
terminal trusteeship report must be filed whether the
trusteeship is terminated because the subordinate labor
organization is restored to the autonomy otherwise
available to it under its constitution and bylaws and the
constitution and bylaws of the labor organization which

1

has imposed the trusteeship or because the subordinate
labor organization loses its reporting identity through
dissolution, merger, consolidation, or otherwise.

V. WHEN TO FILE
Initial Form LM-15
A labor organization which has imposed a trusteeship
over a subordinate labor organization must file an initial
trusteeship report on Form LM-15, including the
Statement of Assets and Liabilities on page 2 of the
form, within 30 days after the date of the imposition of
the trusteeship.

Labor Organization Annual Report - In addition to
initial and semiannual trusteeship reports, the
organization imposing the trusteeship is required to file
an annual financial report on Form LM-2 on behalf of the
trusteed organization. The Form LM-2 is due within 90
days after the end of the trusteed organization’s fiscal
year and must report the financial activities of the entire
fiscal year. If the trusteeship was imposed during the
subordinate labor organization’s fiscal year, the first
report must cover the period prior to the imposition of the
trusteeship as well as the financial transactions
occurring during the trusteeship. A terminal trusteeship
financial report on Form LM-2 is also required within 90
days after the date that the trusteeship is terminated.

Semiannual Form LM-15
Semiannual trusteeship reports covering each
succeeding 6-month period of the trusteeship must be
filed within 30 days after the end of each 6-month period
on Form LM-15. The Statement of Assets and Liabilities
on page 2 of the form should not be completed when
filing a semiannual trusteeship report.
VI. WHERE TO FILE

Any Form LM–2 filed on behalf of a trusteed organization
must include the signatures of the trustees in addition to
the signatures of the president and treasurer or
corresponding principal officers of the organization which
established the trusteeship. To add signature blocks to
the Form LM–2 in the electronic filing system, click on
the “Add Signature Block” button on the bottom of page
1. If paper filing is permitted, trustees should sign and
date the Form LM–2 in the space below the officers’
signatures in Items 70 and 71.

The completed Form LM-15 and any required
attachments and additional pages must be mailed to
the following address:
U.S. Department of Labor
Office of Labor-Management Standards
200 Constitution Avenue, NW, Room N-5603
Washington, DC 20210
VII. PUBLIC DISCLOSURE

Labor Organization Information Report - The
organization imposing the trusteeship is also responsible
for filing an initial or amended Labor Organization
Information Report, Form LM-1, if necessary. The initial
Form LM-1, which reports certain information concerning
the structure, practices, and procedures of the labor
organization, and two copies of the labor organization’s
constitution and bylaws must be filed within 90 days after
the date on which the labor organization becomes
subject to the LMRDA, CSRA, or FSA.

Pursuant to the LMRDA, the U.S. Department of Labor is
required to make all submitted reports available for
public inspection. You may examine the Form LM-15
reports at, and purchase copies from, the OLMS Public
Disclosure Room at the address listed in Section VI, or at
the OLMS field office in whose jurisdiction the trusteed
labor organization is located. At the end of these
instructions is a list of OLMS field offices.

An amended Form LM-1 must be filed to update the
information on file with OLMS if there have been any
changes in the practices and procedures listed in Item
18 of the latest Form LM-1. An amended Form LM-1, if
necessary, must be filed with the trusteed labor
organization’s annual financial report, Form LM-2.
(Federal employee labor organizations subject solely to
the CSRA or FSA are not required to submit an
amended Form LM-l to describe changes in their
practices and procedures.)

Each individual required to sign Form LM-15 is
personally responsible for its filing and accuracy. The
LMRDA provides criminal penalties for willful failure to
file a required report and for false reporting. False
reporting includes making any false statement or
misrepresentation of a material fact while knowing it to
be false, or for knowingly failing to disclose a material
fact in a required report or in the information required to
be contained in it or in any information required to be
submitted with it.

IV. WHO MUST SIGN THE REPORT

The reporting labor organization and the officers and
trustees required to sign Form LM-15 are also subject to
civil prosecution for violations of the filing requirements.
According to Section 210 of the LMRDA, “whenever it
shall appear that any person has violated or is about to
violate any of the provisions of this title, the Secretary
may bring a civil action for such relief (including

VIII. OFFICER RESPONSIBILITIES AND PENALTIES

Form LM-15 must be signed by the president and
treasurer or corresponding principal officers of the parent
labor organization imposing the trusteeship and the
trustees of the subordinate labor organization.

2

INFORMATION ITEMS 1 - 9

injunctions) as may be appropriate.”

1. FILE NUMBER—Enter the 6-digit file number
assigned by OLMS to the labor organization held in
trusteeship. If you do not know the organization’s file
number and cannot obtain it from prior reports filed by
the organization held in trusteeship, contact the nearest
OLMS field office listed at the end of these instructions
for information on the 6-digit file number.

Under the CSRA and FSA and implementing
regulations, false reporting and failure to report may
result in administrative enforcement action and litigation.
Individuals responsible for signing Form LM-15 are also
subject to criminal penalties for false reporting under
section 1001 of Title 18 of the United States Code.
IX. RECORDKEEPING

2. TYPE OF REPORT—If this is an initial trusteeship
report, select Initial and complete pages 1 through 4 of
Form LM-15. If it is a subsequent semiannual trusteeship
report, select Semiannual, enter the date the 6-month
period covered by the report ended, and complete only
pages 1 and 2 of the Form LM-15.

The individuals required to file Form LM-15 are
responsible for maintaining records which must provide
in sufficient detail the information and data necessary to
verify the accuracy and completeness of the report. You
must retain the records for at least 5 years after the date
the report is filed. You must retain any record necessary
to verify, explain, or clarify the report including, but not
limited to, vouchers, worksheets, receipts, and
applicable resolutions.

3. DATE TRUSTEESHIP ESTABLISHED—Enter the
date (month, day, year) the suspension of the autonomy
of the subordinate labor organization became effective.

Information Entry. Entries on the report should be
typed or clearly printed in black ink. Do not use a pencil
or any other color ink.

4. NAME AND MAILING ADDRESS OF LABOR
ORGANIZATION HELD IN TRUSTEESHIP — Enter the
full name and the complete mailing address of the labor
organization held in trusteeship, including any building
and room number. Include the affiliation or organization
name (for example, International Association of Factory
Workers); any designation which specifically identifies
the trusteed organization (for example, Local, Lodge,
Branch, Joint Council, District Council, etc.); and any
designation number or other identifier by which the
trusteed organization is known (for example, Local 123
or Southeast Joint Council).

Entering Dollars. In all Items dealing with monetary
values, report amounts in dollars only; do not enter
cents. Round cents to the nearest dollar. Enter a single
“0” in the boxes for reporting dollars if the surety
company has nothing to report.

5. NAME AND MAILING ADDRESS OF LABOR
ORGANIZATION IMPOSING THE TRUSTEESHIP—
Enter the full name, the complete mailing address and
the OLMS file number of the labor organization imposing
the trusteeship.

Entering Dollars:

6. CONSTITUTIONAL AUTHORIZATION—Enter the
article(s) and section(s) of the constitution which
specifically authorize the imposition of the trusteeship.

Individuals are subject to penalties for willfully making
any false entry in or concealing, withholding, or
destroying any books, records, or statements required to
be kept.
X. COMPLETING FORM LM-15
Read these instructions carefully before completing Form
LM-15.

$1,573,844 — do not enter cents
Entering Zero:

7. REASONS FOR IMPOSITION OR CONTINUATION
OF THE TRUSTEESHIP—Select the reason(s) for
imposing or continuing the trusteeship.

$_,_ _ _, _ _ 0
Additional Pages. If you need additional space to
complete an item, enter the additional information on a
separate letter-size (8.5 x 11) page(s), indicating the
number of the item to which the information applies.
Print clearly at the top of each attached page the
following information: (1) full name of the trusteed
organization, (2) its 6-digit file number as reported in
Item 3 of Form LM-15, and (3) the date reported in Item
1 for a semiannual report and Item 2 for an initial report.
All attachments must be labeled sequentially 1 of_, 2
of_, etc.

8. DETAILED EXPLANATION—Provide a detailed
statement explaining each reason selected in Item 7.
The initial report must explain the reasons for the
establishment of the trusteeship. The semiannual report
must specifically explain why the trusteeship was
continued during the preceding six (6) months.
The detailed statement must contain all of the facts
necessary to clearly explain the situation or events which
caused the establishment of the trusteeship or which
caused the continuation of the trusteeship. The following
statements are examples of inadequate explanations: “in
the best interests of the local,” “to restore good order,”
“suspected move to disaffiliate,” or “involved in litigation
3

All labor organization political action committee (PAC)
funds are considered labor organization funds. However,
to avoid duplicate reporting, PAC funds, which are kept
separate from the trusteed organization’s treasury, are
not required to be included in the Form LM-15 if publicly
available reports on the PAC funds are filed with a
Federal or state agency.

with the parent body”. The detailed statement must
specifically include dates, places, events, and any other
information relevant to the decision to impose or
continue the trusteeship.
Similarly, the statement “financial malpractices” must be
supported by detailed information such as the following:
a description of the malpractices; when and where the
malpractices occurred; the amount of money or other
assets involved; and how the establishment or
continuation of the trusteeship is related to the correction
of these financial malpractices.

Report Dollar Amounts Only
Report all amounts in dollars only; round cents to the
nearest dollar.
Reporting Classifications

A general statement that the trusteed organization “failed
to carry out its responsibilities under a bargaining
agreement” is also inadequate. A detailed statement
must set forth, among other information, the following:
when and in what particular respect the agreement was
not followed; what segment of the membership was
involved; and how the imposition of the trusteeship is
related to assuring performance of the bargaining
agreement.

Complete all items and lines on the form as given. Do
not use different accounting classifications or change the
wording of any item or line.
Subsidiary Organizations
A subsidiary organization, for purposes of these
instructions, is a separate organization where the
ownership is wholly vested in the trusteed organization,
its officers, or its membership; which is governed or
controlled by the officers, employees, or members of the
trusteed organization; and which is wholly financed by
the trusteed organization. A subsidiary organization is
considered “wholly financed” if the trusteed organization
provided the initial financing, even if the subsidiary
organization is currently wholly or partially selfsustaining. An example of a subsidiary organization is a
building corporation which holds title to a building; the
trusteed organization owns the building corporation,
selects the officers, and finances the operation of the
building corporation.

9. CONVENTIONS AND ELECTIONS—Select YES in
Item 9(a) if any convention or other policy- determining
body met during the period covered by this report to
which the trusteed organization sent delegates or would
have sent delegates if not in trusteeship. Select YES in
Item 9(b) if the labor organization imposing the
trusteeship held an election of officers during the period
covered by this report. If you select YES on either Item
9(a) or 9(b), you must file a Form LM-15A, Report on
Selection of Delegates and Officers.
A policy-determining body is defined as any body which
is convened by the parent labor organization or a labor
organization which is composed of delegates from labor
organizations. This body formulates policy on matters
such as wages, hours, or other conditions of
employment, or recommends or takes any action in the
name of the participating labor organization. Such a
body includes, for example, a district council, area
conference, or joint board.

You must report the assets and liabilities for each
subsidiary organization of the trusteed organization on
the initial trusteeship report using one of the following
methods:
Method (1) - Consolidate the financial information for
the subsidiary organization(s) and the trusteed
organization on a single Form LM-15.

STATEMENT OF ASSETS AND LIABILITIES

Method (2) - Complete a separate Form LM-15 for
the subsidiary organization and file it with the
trusteed organization’s Form LM-15. The LM-15
report for the subsidiary organization must be clearly
marked “SUBSIDIARY REPORT” at the top of the
first page.

If this is an initial trusteeship report, complete the
Statement of Assets and Liabilities (pages 3 - 4) only as
of the date the trusteeship was imposed. If this is a
semiannual trusteeship report, do not complete the
Statement of Assets and Liabilities.

Method (3) – Attach to the trusteed organization’s
Form LM-15 report a separate statement of assets
and liabilities of the subsidiary organization as of the
date the trusteeship was imposed. This statement
must be accompanied by a statement signed by an
independent public accountant certifying that the
statement of assets and liabilities presents fairly the
financial condition of the subsidiary organization in

Funds to Be Reported
Account for all assets and liabilities of the trusteed
organization, including any special purpose funds or
accounts. Examples of such assets and liabilities
include strike funds, vacation funds, and scholarship
funds, or any subsidiary organization(s).

4

11. ACCOUNTS RECEIVABLE—Enter the total of all
accounts receivable owed the trusteed organization.

accordance with generally accepted accounting
principles.

12. LOANS RECEIVABLE—Enter the total of all direct
and indirect loans (whether or not evidenced by
promissory notes or secured by mortgages) owed to the
trusteed organization by individuals, business
enterprises, benefit plans, and other entities including
labor organizations as reported in Schedule 1, Line 6. An
example of an indirect loan is a disbursement by the
trusteed organization to an educational institution for the
tuition expense of an officer, employee, or member which
must be repaid to the trusteed organization by that
individual. Do not include investments in corporate
bonds or mortgages purchased on a block basis through
a bank or similar financial institution which must be
reported in Item 14 (Investments) and Schedule 2.

Financial information reported separately for subsidiary
organizations, as required under methods (2) and (3)
above, must include the name of the subsidiary
organization and the name and file number of the
trusteed organization as shown on its Form LM-15.
When method (2) or (3) is used, and the subsidiary
organization is an investment, you must report in Item 14
(Investments) and in Schedule 2 (Investments) the
financial interest of the trusteed organization in the
subsidiary organization. When method (2) or (3) is used,
and the subsidiary organization is in the nature of a noninvestment, you must report in Item 16 (Other Assets)
and in Schedule 3 (Other Assets) the financial interest of
the trusteed organization in the subsidiary organization.

NOTE: Advances, including salary advances, are
considered loans and must be reported in Schedule 1.
However, advances to officers and employees of the
trusteed organization for travel expenses necessary for
conducting official business are not considered loans if
the following conditions are met:

With respect to the subsidiary organization, you must
report the same type of information required on Form
LM-15 regarding the trusteed organization’s loans
receivable. In method (1), you must combine the
subsidiary organization information with the trusteed
organization information and report on the trusteed
organization’s Form LM-15 in Schedule 1. In method (2),
you must include this information in Schedule 1 of the
separate Form LM-15 used for reporting the financial
condition of the subsidiary organization. In method (3),
you must submit an attachment containing the
information required by the instructions for Schedule 1.
The information regarding loans made by the subsidiary
organization must include a listing of the names of each
officer, employee, or member of the trusteed
organization and each officer or employee of the
subsidiary organization whose total loan indebtedness to
the subsidiary organization, the trusteed organization, or
both, exceeded $250. However, if method (2) or (3) is
used, the amount reported by the subsidiary organization
should only be the amount owed to the
subsidiary organization.

−

the amount of an advance for a specific trip does
not exceed the amount of expenses reasonably
expected to be incurred for official travel in the
near future, and the amount of the advance is
fully repaid or fully accounted for by vouchers or
paid receipts within 30 days after the completion
or cancellation of the travel.

−

the amount of a standing advance to an officer
or employee who must frequently travel on
official business does not unreasonably exceed
the average monthly travel expenses for which
the individual is separately reimbursed after
submission of vouchers or paid receipts and the
individual does not exceed 60 days without
engaging in official travel.

See the instructions for Item 16 for reporting travel
advances which meet these criteria.

ITEMS 10 - 23 AND SCHEDULES 1 - 6
NOTE: If there is not enough space to report all the
required information in any of Schedules 1 through 6,
see Section IX.

Schedule 1 - Enter in Column (A) of Schedule 1 on
Lines 1 through 3 (and on additional pages if necessary)
the name of each officer, employee, or member whose
total loan indebtedness to the trusteed organization
(including any subsidiary organization) exceeded $250.
Provide the name of each business enterprise which had
any loan indebtedness, regardless of amount. For each
officer or employee listed, indicate after each name
either “0” (officer) or “E” (employee).

ASSETS
10. CASH—Enter the total of all the trusteed
organization’s cash on hand and on deposit. Include the
following: all cash on hand, such as cash, checks, and
money orders which have not been deposited; petty
cash; and cash in safe deposit boxes. Cash on deposit
includes funds in banks, credit unions, and other financial
institutions, such as checking accounts, savings
accounts, certificates of deposit, and money market
accounts.

Enter in Column (B) the purpose of the loan, security
given (if any), and the terms for repayment of each loan
required to be listed in Column (A) and on additional
pages.

5

U.S. Treasury securities or marketable securities).
Include mortgages purchased on a block basis.

Enter in Column (C) on Lines 1 through 3 the amount
owed to the trusteed organization by each individual or
business enterprise listed in Column (A). Enter on Line 4
the total from any additional pages. Enter on Line 5 the
total of loans owed to the trusteed organization by
officers, employees, or members whose total individual
loan indebtedness did not exceed $250; and the total of
all loans, regardless of amount, owed to the trusteed
organization by other individuals and entities. Add Lines
1 through 5 and enter the total on Line 6 and in Item 12.

Enter in Column (B), Line 5, book value of such other
investments. Book value is the lower of cost or market
value.
List in Column (A), Line 6 (and on additional pages if
necessary), each other investment which has a book
value over $1,000 and exceeds 20% of the total book
value entered on Line 5 and enter its book value in
Column (B).

NOTE: Section 503(a) of the LMRDA prohibits labor
organizations from making direct or indirect loans to any
officer or employee of the labor organization which
results in a total indebtedness on the part of such officer
or employee to the labor organization in excess of
$2,000.

NOTE: If the trusteed organization has a subsidiary
organization for which a separate report is being
submitted, you must report the subsidiary organization in
Schedule 2, if it is an investment. List on Line 6 (and on
additional pages if necessary) the name of each
subsidiary organization in Column (A) and its book value
in Column (B).

13. U.S. TREASURY SECURITIES—Enter the total
value of all U.S. Treasury securities as shown on the
trusteed organization’s books. Other U.S. Government
obligations, state and municipal bonds, and foreign
government securities must be reported in Schedule 2
under “Marketable Securities” and in Item 14
(Investments).

Add Lines 2 and 5 and enter the total on Line 7 and in
Item 14.
15. FIXED ASSETS—Enter the total value as shown on
the trusteed organization’s books of all fixed assets as
reported in Schedule 5, Line 6, Column (D). Examples
of fixed assets include: land, buildings, automobiles, and
office furniture and equipment.

14. INVESTMENTS—Enter the total book value of all
investments (other than U.S. Treasury securities) as
reported in Schedule 2, Line 7.

Schedule 5 - Report in Schedule 5 details of all fixed
assets, including fixed assets that were expensed (that
is, the cost of the asset was charged to current
expenses, rather than entered on the books and
periodically depreciated), fully depreciated, or carried on
the trusteed organization’s books at scrap or other
nominal value.

Schedule 2 - Report in Schedule 2 details of all
investments of the trusteed organization, other than U.S.
Treasury securities, including mortgages purchased on a
block basis and investments in any subsidiary
organization not reported on a consolidated basis.
Enter in Column (B) of Schedule 2, Line 1, the total cost
of all the trusteed organization’s marketable securities
including transaction costs (for example, brokerage
commissions). Marketable securities are securities with
current market values that can be obtained from
published reports of transactions in listed securities or in
securities traded “over the counter”. Examples of
marketable securities include corporate stocks and
bonds, stock and bond mutual funds, and foreign
government securities.

Enter in Column (A) of Schedule 5, Line 1, the location
of any land and on Line 3, the location of any buildings
owned by the trusteed organization. Use additional
pages if necessary.
Enter in Column (B) the cost or other basis of the fixed
assets listed in Column (A), including totals from any
additional pages.
Enter in Column (C) the accumulated depreciation, if
any, of the fixed assets (except land) listed in Column
(A) whose cost or other basis is included in Column (B) ,
including totals from any additional pages. If the trusteed
organization “expenses” fixed assets, also include in
Column (C) the amount that was charged to expenses
when the assets were purchased.

Enter in Column (B), Line 2, the total book value of all
the trusteed organization’s marketable securities. Book
value is the lower of cost or market value.
List in Column (A), Line 3 (and on additional pages if
necessary), each marketable security which has a book
value over $1,000 and which exceeds 20% of the total
book value entered on Line 2. Enter its book value in
Column (B).

Enter in Column (D) the amount at which the fixed
assets listed in Column (A) are carried on the trusteed
organization’s books, including totals from any additional
pages. Include the nominal amount, if any, at which fully
depreciated assets are carried on the trusteed
organization’s books. The amount reported in Column

Enter in Column (B), Line 4, the total cost, including
transaction costs, of all the trusteed organization’s other
investments (that is, those investments which are not

6

Schedule 6 - Enter in Column (A) of Schedule 6 on
Lines 1 through 4 (and on additional pages, if necessary)
the name of each business enterprise to which a loan
was payable. Also, list the source of all other loans by
general categories, such as banks, labor organizations,
individuals, etc.

(D) should be the difference between Columns (B) and
(C).
Enter in Column (E) the fair market value of land and of
all assets listed in Column (A) that were expensed, fully
depreciated, or depreciated to scrap or nominal value,
including totals from any additional pages. It is not
necessary to secure a formal appraisal of the assets; a
good faith estimate is sufficient. The value used for
insurance purposes or for tax appraisals, for example,
will normally be acceptable as representing the fair
market value.

Enter in Column (B) the loan amount owed to each listed
source of a loan. Enter on Line 5 the total from any
additional pages. Add Lines 1 through 5 and enter the
total on Line 6 and in Item 19.

Add Lines 1 through 7, Columns (B) through (E), and
enter the totals on Line 8. Enter the total from Line 8,
Column (D) in Item 15.

20. MORTGAGES PAYABLE—Enter the total amount
of the trusteed organization’s obligations which were
secured by mortgages or similar liens on real property
(land or buildings).

16. OTHER ASSETS—Enter the total value as shown
on the trusteed organization’s books of all other assets
(those assets not reported in Items 10 through 15) as
reported in Schedule 3, Line 8.

21. OTHER LIABILITIES—Enter the total amount as
shown on the trusteed organization’s books of all other
liabilities (those not reported in Items 18 through 20) as
reported in Schedule 4, Line 8.

Schedule 3 – You must describe the trusteed
organization’s other assets in Column (A) of Schedule 3.
You may classify these assets by general groupings or
bookkeeping categories such as utility deposits,
inventory of supplies for resale, or travel advances which
are not required to be reported as loans in Schedule 1.
However, the description must be sufficient to identify the
type of assets. Enter in Column (B) the value as shown
on the trusteed organization’s books of each asset or
group of assets described in Column (A).

Schedule 4 - You must describe the trusteed
organization’s other liabilities in Column (A) of Schedule
4. You may classify these liabilities by general
groupings or bookkeeping categories, if the description
is sufficient to identify the type of liability. List separately
any payroll taxes withheld, but not yet paid, other payroll
taxes of the trusteed organization, such as FICA taxes,
and any funds collected on behalf of affiliates or
members and not disbursed as of the date the
trusteeship was established. Do not include reserves for
special purposes (for example, “Reserve for Building
Fund”) which are actually an allocation of assets for
specific purposes rather than a liability.

NOTE: If the trusteed organization has a subsidiary
organization for which a separate report is being
submitted, you must report the value of the subsidiary
organization as shown on the trusteed organization’s
books in Schedule 3, if the nature of it is that of a noninvestment. Enter in Column (A) the name of any such
subsidiary organization. Enter in Column (B) the value
as shown on the trusteed organization’s books of the net
assets of any such subsidiary organization.

Enter in Column (B) the amount of each liability
described in Column (A). Enter on Line 7 the total from
any additional pages. Add Lines 1 through 7 and enter
the total on Line 8 and in Item 21.
22. TOTAL LIABILITIES—Add Items 18 through 21 and
enter the total in Item 22.

Enter on Line 7 the total from any additional pages. Add
Lines 1 through 7 and enter the total on Line 8 and in
Item 16.

23. NET ASSETS—Subtract Item 22 from Item 17 and
enter the difference in Item 23.
SIGNATURES

17. TOTAL ASSETS—Add Items 10 through 16 and
enter the total in Item 17.

24-27. SIGNATURES—The completed Form LM-15
which is filed with OLMS must be signed by the
president and treasurer or corresponding principal
officers of the organization which has imposed the
trusteeship, and all the trustees designated to supervise
the affairs of the organization held in trusteeship. If the
report is signed by an officer other than the president
and/or treasurer, so indicate in Items 24 and/or 25 by (1)
crossing out the pre-printed officer title(s) and (2)
inserting the appropriate officer title(s). If the trustees
have a different title such as administrator, cross out the
printed title and enter the correct title in Items 26 and 27.

LIABILITIES
18. ACCOUNTS PAYABLE—Enter the total amount of
the trusteed organization’s accounts payable. Ordinarily,
accounts payable are those obligations incurred on an
open account for goods and services rendered.
19. LOANS PAYABLE—Enter the total of all loans
payable by the trusteed organization (except those
secured by mortgages or similar liens on real property
(land or buildings) which must be reported in Item 20
(Mortgages Payable)) as reported in Schedule 6, Line 6.
7

If there are more than two trustees, the additional
trustee(s) should sign and date the Form LM-15 in the
space below the officers’ and trustees’ signatures in
Items 24-27. You must have original signatures on the
Form LM-15 filed with OLMS; stamped or mechanical
signatures are unacceptable.
Enter the date the report was signed and the telephone
number(s) used by the signatories to conduct official
business. You do not have to report a private, unlisted
telephone number.
Contact the nearest OLMS field office listed below if
you have questions about filing a trusteeship report.
If You Need Assistance
The Office of Labor-Management Standards has
district offices located in the following cities to assist
you if you have any questions concerning LMRDA and
CSRA reporting requirements.
Atlanta-Nashville
Boston-Buffalo
Chicago
Cincinnati-Cleveland
Dallas-New Orleans
Denver-St. Louis
Detroit-Milwaukee
Los Angeles
Philadelphia-Pittsburgh
New York
San Francisco-Seattle
Washington
Copies of labor organization annual financial reports,
employer reports, and labor relations consultant
reports filed for the year 2000 and after can be viewed
and printed at www.unionreports.gov. Copies of
reports for the year 1999 and earlier can be ordered
through the website.
Information about OLMS, including key personnel and
telephone numbers, compliance assistance materials,
the text of the LMRDA, and related Federal Register
and Code of Federal Regulations (CFR) documents, is
also available on the Internet at: http://
www.olms.dol.gov.
Additionally, you can call the OLMS national office at
(202) 693-0123 or email [email protected].
(Technical Revisions 3/2015; 6/2016; 11/2016; 4/2020)

8