Don't Let the Biggest DOL LM-2 Requirements in 20 Years Turn Reporting Season into a Compliance Nightmare.
The Department of Labor has significantly expanded LM-2 reporting requirements, increasing the amount of financial detail many labor organizations must collect, validate, and disclose. If your current using a system that is not prepared for these new changes, or your process depends on spreadsheets, manual reconciliations, or year-end data gathering, now is the time to prepare.
Micro Force’s Quick LM-2 helps labor organizations using Microsoft Dynamics capture required LM2 schedule information throughout the year, reducing manual effort, improving reporting accuracy, and simplifying compliance with evolving Department of Labor requirements.
Purpose-built for labor organizations using Microsoft Dynamics. Designed to help you prepare for the new LM-2 reporting requirements with greater confidence.
Some of the largest labor unions in the country enjoy our Quick LM-2 solution, including:
American Postal Service Union
ASFCME
Security Police Fire Union
AFGE
District Council 37
International Brotherhood
NYSUL Professionals
Dynamics
Built for Microsoft Dynamics
PURPOSE
Purpose-Built for
Labor
Organizations
MANUAL
Reduce Manual
Reporting
ACCURACY
Improve Reporting
Accuracy
DOL
Prepare for New
DOL Requirements
The Rules have changed. Is your reporting process ready?
For the first time in more than two decades, the U.S. Department of Labor has fundamentally changed LM-2 reporting.
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The revised rules require many labor organizations to collect more detailed financial information, support expanded reporting schedules and prepare for greater transparency. For finance teams, that means more than learning a new form. It means rethinking how
reporting data is captured throughout the year.​​​​​​​​​​​​
Without the right processes, organizations may face:
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More manual data collection
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Increased reporting complexity
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Greater risk of errors and omissions
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More time spent reconciling spreadsheets
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Additional validation before filing
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Increased pressure on accounting staff during reporting season
The challenge isn't simply filing the report.
It's having accurate, complete information when it's time to file.
It Costs More Than You Know to Produce Your LM-2 Report Year-after-Year. Labor Unions who comply with annual LM-2 reporting face a substantial work-effort to gather and consolidate the information needed.
Attempting to create the LM-2 report manually requires massive hours of your resources time, makes you vulnerable to errors, and is one of the biggest challenges for Labor Unions to pull together year after year.
Multiply the hours spent collecting data from various sources, meticulously transforming the data to meet cash basis and special requirements, and correcting errors from manual processing to identify a major repeatable expense.
Why Generic Reporting Tools Fall Short
Most reporting tools weren't designed specifically for Department of Labor LM-2 reporting. They often require manual exports, custom reports, or spreadsheet manipulation.
Quick LM-2 was purpose-built for labor organizations using Microsoft Dynamics, helping capture required information throughout the year rather than reconstructing it at year end.
What's Changing with LM-2 Reporting?
Beginning with fiscal years starting on or after July 1, 2026, the Department of Labor's revised LM-2 regulations introduce the most significant reporting changes since 2003.
New LM-2 Long Form
Labor organizations with $40 million or more in annual cash receipts must now complete the new LM-2 Long Form. The Long Form expands reporting into 32 detailed schedules, requiring significantly more transaction-level financial information than previous filings.
Updated Filing Thresholds
LM-2 Long Form:
Smaller labor organizations with more than $350K in cash receipts also have new reporting changes, while larger organizations should prepare for substantially expanded disclosure requirements.
More Detailed Financial Reporting
Organizations now need to report more detailed information regarding:
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Additional cash receipt categories
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More disbursement schedules
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Officer compensation, benefits and certain travel-related expenses
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Employee compensation, benefits and certain travel-related expenses
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Increased transparency around Investment activity
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Fixed asset transactions
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Affiliate transactions
New Foreign Transaction Reporting
Large labor organizations must disclose qualifying foreign transactions totaling $5,000 or more with individual foreign entities during the reporting period.
The revised regulations remove certain functional spending classifications while expanding detailed financial disclosures across new reporting schedules.
Is Your Organization Ready?
Use the 2026 LM-2 Compliance Readiness Checklist to assess your reporting thresholds, transaction tracking, chart of accounts, data validation, and preparation for expanded schedules.
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Determine which filing form applies
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Review reporting thresholds
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Evaluate chart-of-accounts requirements
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Assess transaction-level tracking
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Prepare for expanded schedules
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Identify gaps before filing season
How Quick LM-2 Helps You Prepare
The new reporting requirements doesn't simply change your annual filing. They change how financial information should be collected throughout the year.
Micro Force's Quick LM-2 helps labor organizations simplify compliance by integrating LM-2 reporting directly into Microsoft Dynamics.
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Capture Reporting Data Throughout the Year
Instead of rebuilding reporting information every reporting season, Quick LM-2 captures required information while normal accounting transactions are processed.
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Reduce Manual Data Collection
Eliminate many spreadsheet-based processes and reduce duplicate data entry by maintaining reporting information within your ERP system.
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Improve Reporting Accuracy
Capture required reporting classifications closer to the source of each transaction, helping reduce manual coding errors and year-end corrections.
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Support Expanded Reporting Requirements
Maintain the additional transaction details needed to satisfy evolving Department of Labor reporting requirements.
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Review Before You File
Validate reporting information through reconciliation reports before generating your annual LM-2 submission.
From Daily Transactions to LM-2 Filing
Quick LM-2 creates a structured, repeatable process that supports reporting throughout the year instead of forcing your team to reconstruct data at year end.
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Enter and classify transactions
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Capture LM-2 detail in Microsoft Dynamics
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Review coding and make adjustments
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Run reconciliation and validation reports
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Generate the LM-2 filing output
How To Create Your LM-2 Report the Easy Way:
Get Quick LM-2 modules from Micro Force to capture all the transactions that are in your Microsoft Dynamics ERP for Schedules 14-20 automatically.
Eliminate extra effort by your AP team to meet cash basis and special conditions from the DOL. Quick LM-2 will handle it for you.
Consolidate - Import transactions you may have on spreadsheets or from other sources.
Easily make adjustments to your data before submitting your final report to the Department of Labor.
Quick LM-2 Highlights:
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Works seamlessly in your existing ERP without any extra effort by your staff
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Automatically captures necessary LM-2 information while entering regular transactions by using default setups
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Permits coding for LM-2 after vendor invoices have been posted or paid
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Features to capture vendor purchases via credit card purchases or corrections
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Imports data from spreadsheets or other sources and apply default LM-2 values to eliminate hours of extra manual effort by your staff
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Includes reconciling reporting that can be used monthly to reduce the painful year end work that may be required if not using this module
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Includes full reporting, with the option to export to Microsoft Excel
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LM-2 data recorded and stored in your ERP, so you have “one source of truth” versus solutions that require data exporting to Excel to create LM-2 reporting
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Is fully compliant with the Department of Labor
What You Get: Ready-to-File LM-2 Reports Without the Tedious Manual Work
Quick LM-2 automatically populates the required LM-2 schedules using information captured throughout the year, helping your team reduce manual effort, improve reporting accuracy, and prepare for filing with confidence.
Why Micro Force?
Trusted Microsoft Dynamics Expertise for Labor Organizations
LM-2 reporting isn't just another financial report. It requires a deep understanding of both
Microsoft Dynamics and the unique reporting requirements of labor organizations.
For decades, Micro Force has helped organizations extend and optimize Microsoft Dynamics
with purpose-built solutions that solve real business challenges. Quick LM-2 was developed
specifically to simplify Department of Labor reporting, helping labor organizations reduce
manual effort, improve reporting accuracy, and adapt as compliance requirements evolve.
When you work with Micro Force, you gain more than software. You gain a partner that
understands your reporting challenges and is committed to helping you meet them with
confidence.
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Decades of Microsoft Dynamics experience
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Purpose-built solutions for specialized business needs
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Expertise in labor organization reporting requirements
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Responsive U.S.-based support and consulting
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Ongoing product enhancements to address changing DOL regulations
Customer Proof
"Quick-LM2 transformed LM-2 reporting from a separate annual project into a seamless part of our daily accounting operations."
- Ron
"Our team's favorite feature is that LM-2 changes can be made after transactions are posted. It gives us the flexibility we need while keeping day-to-day operations moving."
-Deborah
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"Quick-LM2 is so well integrated with Microsoft Dynamics that our staff didn't have to change how they work. We simply process transactions as usual, make LM-2 adjustments when needed, and save weeks of year-end reporting effort. It's one of the easiest software solutions we've ever implemented."
-Paul
Why Labor Organizations Choose Quick LM-2
Designed Specifically for LM-2 Reporting
Quick LM-2 wasn't adapted from a generic reporting solution. Micro Force developed it specifically for labor organizations using Microsoft Dynamics.
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Reduce Reporting Time
Automate repetitive reporting tasks so your accounting tema spends less time gathering information and more time reviewing it.
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Improve Confidence
Reduce manual entry, spreadsheet errors, and last-minute reporting surprises by maintaining reporting information that is embedded in your business software system.
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Stay Ready for Regulatory Change
As Department of Labor reporting evolves, Quick LM-2 helps organizations adapt with a structured, repeatable reporting process.
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Maximize Your Microsoft Dynamics Investment
Leverage your exisiting ERP investment instead of maintaining disconnected reporting tools and manual processes.
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Key Capabilities
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Microsoft Dynamics integration
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LM-2 transaction classification
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Flexible coding adjustments
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Historical or external data support, where applicable
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Reconiciliation and validation reporting
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LM-2 output generation
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Year-round reporting preparation
Is Quick LM-2 Right For Your Organization?
Quick LM-2 is ideal for labor organizations that:
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Use Microsoft Dynamics 365 Business Central
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Use Microsoft Dynamics GP
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Want to reduce manual reporting effort
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Need more accurate LM2 reporting from their business software system
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Are preparing for the new Department of Labor reporting requirements
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Want to eliminate spreadsheet-based reporting
Supported Platforms:
​Quick LM-2 is embedded in Microsoft Dynamics 365 Business Central and Dynamics GP.
A Clearer Path to Implementation
Quick LM-2 is designed to work with your existing Microsoft Dynamics environment. Micro Force helps evaluate your current reporting process, configure the solution, validate reporting requirements, and prepare your team to use it before the next filing cycle.
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Review your current LM-2 reporting workflow
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Confirm Microsoft Dynamics compatibility
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Configure reporting classifications and required data
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Validate reports and reconciliation processes
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Prepare users for year-round reporting
Frequently Asked Questions
What changed with LM-2 reporting in 2026?
The Department of Labor introduced the most significant LM-2 reporting changes in more than 20 years. The revised rules include a new LM-2 Long Form for organizations with annual Micro Force Quick LM-2 | Final Web Messaging receipts of $40 million or more, increased filing thresholds, expanded financial disclosures, new foreign transaction reporting requirements, and additional reporting schedules.
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When do the new LM-2 rules take effect?
The revised regulations became effective on July 1, 2026, and apply to fiscal years beginning on or after that date.
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Who must file the new LM-2 Long Form?
Labor organizations with annual receipts of $40 million or more must file the new LM-2 Long Form.
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What information requires more detailed reporting?
The revised rules expand reporting requirements for revenue sources, vendor payments, officer compensation, employee benefits, investment activity, affiliate transactions, fixed asset transactions, and qualifying foreign transactions.
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Do the new rules affect smaller labor organizations?
Yes. Filing thresholds have increased and additional disbursement categories have been added to the LM-2 report for labor unions that report less than $40 million in cash receipts. Every labor organization should review the revised requirements to determine which form applies and whether updates to internal reporting processes are needed.
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How can software simplify LM-2 reporting?
Quick LM-2 is fully embedded within the standard business processes of Microsoft Dynamics. This allows users to continue processing receipts, payables, disbursements, and other day-to-day transactions exactly as they do today, while simultaneously capturing the detailed information required for LM-2 reporting compliance. Our solution provide the flexibility to modify LM-2 allocations even after invoices have been posted and paid. This enables organizations to make reporting adjustments without disrupting their accounting records, ensuring both operational efficiency and accurate year-end LM-2 reporting.
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Does Quick LM-2 work with Microsoft Dynamics?
Yes. Quick LM-2 is purpose-built for organizations using Microsoft Dynamics GP and Microsoft Dynamics 365 Business Central.
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Can Quick LM-2 help us prepare for future reporting changes?
By capturing and organizing reporting information throughout the year, Quick LM-2 provides a more structured reporting process that is easier to adapt as Department of Labor reporting requirements evolve.
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How long does Quick LM-2 implementation take?
Implementation timing can be as little as a month, but depends on your Microsoft Dynamics environment, current reporting process, data structure, and configuration requirements. A Micro Force specialist can review your environment and provide a realistic implementation plan.
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Can Quick LM-2 replace our LM-2 spreadsheets?
Quick LM-2 is designed to totally reduce reliance on disconnected spreadsheets by maintaining reporting information within Microsoft Dynamics. The exact process depends on your current workflow, historical data, and reporting requirements.
Don't Wait Until Filing Season to only Discover Your Reporting Process Is Not Ready!
See how Quick LM-2 helps labor organizations simplify compliance, improve reporting accuracy, and prepare for the new Department of Labor requirements with confidence.