Labor unions would be required to report additional information about the receipt and distribution of union funds if rules proposed by the Office of Labor-Management Standards go into effect.

OLMS administers the union reporting requirements under the federal Labor-Management Reporting and Disclosure Act, which is aimed at safeguarding union funds from depletion by improper or illegal means and to deter union officers or employees from embezzling assets or making improper use of funds.

The proposed revisions would require unions to report the identity of purchasers or sellers in transactions involving union assets, and itemize certain receipts of $5,000 or more. Other changes require reporting all travel and hotel disbursements by union officials, and for the union to report the value of fringe benefits given to each union officer.