As we advised you in Issue No. 10-1 of the Legacy Advisor, the Department of Labor (DOL), Office of Labor-Management Standards has introduced a new software program for the completion and submission of Form LM-2. The new program is known as the electronic forms system (EFS) and will eventually replace the Adobe-based system currently in use.
The EFS is currently available for use to complete LM-2 forms only. The DOL intends to expand the program for use in completing Forms LM-3 and LM-4 in the near future.
Individuals at Legacy Professionals have been testing the new program since it became available and have prepared and submitted several LM-2 forms using the EFS program. The EFS program offers several enhancements over the old software, such as:
Each person who prepares, reviews, or signs the LM form will be required to register for a EFS user account and establish a password to access the system. A representative will register the organization to obtain a unique PIN for the union to provide security from unauthorized access to the form. The PIN will need to be renewed each year to ensure only authorized individuals can access the form.
Based on our testing of the EFS system, we expect to complete all future LM-2 forms using this system. The system should significantly improve the submission process while eliminating the digital signature requirement. Remember, this system only affects the completion and processing of the form, not the format or information required to be reported on the form.
Let us know if you have any questions.