ESOP · DOL Form 5500 · 2024

Bank of America Corporation ESOP

Data updated 2026-07-24

$1.1B
Total assets: 4,298
Participants: 99th
Percentile by assets: $260,744
Avg per participant

Official DOL plan name: The Bank of America Transferred Savings Account Plan · Sponsored by Bank of America Corporation · Rhode Island · Management of Enterprises

$1.1B in assets, 4,298 participants

Bank of America Corporation's The Bank of America Transferred Savings Account Plan reported $1.1B in total assets and 4,298 participants in its 2024 DOL Form 5500 filing, ranking in the 99th 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.

99th percentile by assets (of 116,472 plans)

Coverage in Rhode Island

The Bank of America Transferred Savings Account Plan covers 4,298 participants in Rhode Island, 2.9x the typical Rhode Island plan (state average ~1,486 per filing). Assets: $1.1B.

$1.1B
total plan assets (2024 EOY): 4,298
covered participants: 99th
percentile by assets (of 116,472 plans): $260,744
avg assets per participant

The Bank of America Transferred Savings Account Plan reported net income fell from $64M in the plan year 2023 filing to $50M in the plan year 2024 filing.
The Bank of America Transferred Savings Account Plan reported participants fell from 4,647 in the plan year 2023 filing to 4,298 in the plan year 2024 filing.
The Bank of America Transferred Savings Account Plan end-of-year assets rose from $1.1B in the plan year 2023 filing to $1.1B in the plan year 2024 filing.

See the national 2023→2024 release diff →

State

Rhode Island

Industry

Management of Enterprises

Participants vs Rhode Island filers

In Rhode Island, the average filing covers about 1,486 participants across 402 plans. The Bank of America Transferred Savings Account Plan reports 4,298 participants - 2.9x that state average ($1.1B EOY assets).

Rhode Island filing particulars

Total Assets (Beginning of Year)	$1.1B
Net Assets (End of Year)	$1.1B
Net Income	$50M
Employer EIN	560906609
Plan Effective Date	2009-04-15
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 ESOP Plans in Rhode Island

Peer ESOP plans, same state, same plan type, ranked by total assets.

The Bank of America Transferred Savings Account Plan vs. nearby ESOP plans in Rhode Island, assets vs. participants

Newport Harbor Corporation Employee Stock Ownership Plan $71M · 1,124
Thielsch Engineering Employee Stock Ownership Plan $68M · 470
Century Drywall, Inc. Employee Stock Ownership Plan $66M · 44
Beta Group, Inc. Employee Stock Ownership Plan $30M · 173
Marine Acoustics, Inc. Employee Stock Ownership Plan $7M · 47

Compare The Bank of America Transferred Savings … side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to The Bank of America Transferred Savings Account Plan by total assets, not by location.

Evapco, Inc. Employee Stock Ownership Plan (MD) $1.1B · 1,803
Hypertherm Associate Stock Ownership Plan (NH) $1.1B · 1,481
Bdo USA Employee Stock Ownership Plan (IL) $1.1B · 9,258
Highland Homes Employee Stock Ownership Plan (TX) $983M · 891

Frequently Asked Questions

How did The Bank of America Transferred Savings Account Plan assets move in 2024? ▼

The Bank of America Transferred Savings Account Plan edged up modestly - up 4.7% during 2024, from $1.1B to $1.1B. Reported net income was $50M.

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 Transferred Savings Account Plan rank by assets among Form 5500 filers? ▼

The Bank of America Transferred Savings Account Plan ranks in the 99th 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 ESOP plans are similar in size to The Bank of America Transferred Savings Account Plan? ▼

Among ESOP plans in other states, the closest by assets is Evapco, Inc. Employee Stock Ownership Plan in MD ($1.1B, 1,803 participants).

Next read for The Bank of America Transferred Savings …

Filing takeaways

Ways to act on The Bank of America Transferred Savings Account Plan's numbers.

By total assets, The Bank of America Transferred Savings Account Plan ranks among the largest 1% of all filed plans. See the largest plans
Compare it side-by-side against 3 similar ESOP plans in Rhode Island. 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.