Significant Surge in Timely LM-20 Filings Noted for 2023, but Challenges Remain
Earlier this year, we noticed that some LM-20 forms were being filed in a timelier fashion and earlier this month we decided to systematically determine whether there was any substance to this impression. Turns out, there was. Using LaborLab's LM-20 database for all LM-20 filings through 8/3/23, we filtered out duplicate LM-20 filings by the same consultant (many times, consultants file a second or third LM-20 for the same employer where they hire additional subcontractors or there are changes in the scope of work). After this, we found that of 215 unique LM-20’s filed so far in 2023 (through August 3, 2023), 113 or 52% of them were filed early or on time, compared with only 18.6% of those filed for all of 2022. Nearly 85% of 2023 LM-20s filed year to date have been filed early, on time or only 30 days late, compared with 44% for all of 2022. Perhaps most significant, as shown in the chart below, is that filings later than 90 days have all but been eliminated in 2023 so far, compared with nearly 40% of all 2022 filings falling into this delinquency category.