401(k) · DOL Form 5500 · 2024

Bank of America Corporation 401(k) Plan

Data updated 2026-07-24

$62.9B
Total assets: 168,963
Participants: 100th
Percentile by assets: $372,285
Avg per participant

Official DOL plan name: The Bank of America 401(k) Plan · Sponsored by Bank of America Corporation · North Carolina · Management of Enterprises

$62.9B in assets, 168,963 participants

Bank of America Corporation's The Bank of America 401(k) Plan reported $62.9B in total assets and 168,963 participants in its 2024 DOL Form 5500 filing, ranking in the 100th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

100th percentile by assets (of 116,472 plans)

Coverage in North Carolina

The Bank of America 401(k) Plan covers 168,963 participants in North Carolina, 200x the typical North Carolina plan (state average ~846 per filing). Assets: $62.9B.

$62.9B
total plan assets (2024 EOY): 168,963
covered participants: 100th
percentile by assets (of 116,472 plans): $372,285
avg assets per participant

The Bank of America 401(k) Plan end-of-year assets rose from $54.8B in the plan year 2023 filing to $62.9B in the plan year 2024 filing.
The Bank of America 401(k) Plan reported net income rose from $7.7B in the plan year 2023 filing to $8.0B in the plan year 2024 filing.
The Bank of America 401(k) Plan reported participants fell from 173,899 in the plan year 2023 filing to 168,963 in the plan year 2024 filing.

See the national 2023→2024 release diff →

State

North Carolina

Industry

Management of Enterprises

Participants vs North Carolina filers

In North Carolina, the average filing covers about 846 participants across 3,325 plans. The Bank of America 401(k) Plan reports 168,963 participants - 200x that state average ($62.9B EOY assets).

North Carolina filing particulars

Total Assets (Beginning of Year)	$54.8B
Net Assets (End of Year)	$62.9B
Net Income	$8.0B
Employer EIN	560906609
Plan Effective Date	1983-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Bank of America Corporation)

Total plan assets by year, all Bank of America Corporation plans on file

Year	Plans	Participants	Total Assets
2022	3	233,999	$67.0B
2023	3	235,065	$75.1B
2024	3	227,092	$83.1B

Nearby 401(k) Plans in North Carolina

Peer 401(k) plans, same state, same plan type, ranked by total assets.

The Bank of America 401(k) Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants

Honeywell 401(k) Plan $16.3B · 39,468
Duke Energy Retirement Savings Plan $11.3B · 27,341
Nucor Corporation Profit Sharing and Retirement Savings Plan $9.3B · 27,070
Truist Financial Corporation 401(k) Savings Plan $9.2B · 52,699
Charter Communications, Inc. 401(k) Savings Plan $8.9B · 102,013

Compare The Bank of America 401(k) Plan side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to The Bank of America 401(k) Plan by total assets, not by location.

IBM 401(k) Plan (NY) $60.4B · 52,674
Microsoft Corporation Savings Plus 401(k) Plan (WA) $65.6B · 118,818
Rtx Savings Plan (CT) $58.6B · 124,876
Wells Fargo & Company 401(k) Plan (MN) $57.9B · 179,076

Frequently Asked Questions

How did The Bank of America 401(k) Plan assets move in 2024? ▼

The Bank of America 401(k) Plan grew at a solid clip - up 14.7% during 2024, from $54.8B to $62.9B. Reported net income was $8.0B.

How have Bank of America Corporation plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Bank of America Corporation's sponsor-wide assets grew 24.0%, from $67.0B to $83.1B.

Where does The Bank of America 401(k) Plan rank by assets among Form 5500 filers? ▼

The Bank of America 401(k) Plan ranks in the 100th percentile by end-of-year assets among 116,472 plans that reported assets for plan year 2024 (among the largest 1% of all filed plans).

Which 401(k) plans are similar in size to The Bank of America 401(k) Plan? ▼

Among 401(k) plans in other states, the closest by assets is IBM 401(k) Plan in NY ($60.4B, 52,674 participants).

Next read for The Bank of America 401(k) Plan

Filing takeaways

Ways to act on The Bank of America 401(k) Plan's numbers.

By total assets, The Bank of America 401(k) Plan ranks among the largest 1% of all filed plans. See the largest plans
Compare it side-by-side against 3 similar 401(k) plans in North Carolina. Compare plans
Bank of America Corporation's sponsor-wide assets have grown 24.0% since 2022 across 3 plan years on file. More Management of Enterprises plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 560906609.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.