Bank of America Corporation 401(k) match: 5% max
The Bank of America 401(k) Plan · BAC · CIK 70858
Maximum employer match, as a share of pay
5%
Bank of America Corporation matches 100% (dollar-for-dollar) of the first 5% of pay.
From the Form 11-K filed June 16, 2026 ↗, covering the plan year ended December 31, 2025. Page data last updated July 28, 2026, when the Form 5500 bulk data was last refreshed. Why filings lag
On this page: what the employer actually paid in · the formula, word for word · when the money becomes yours · who can join · what the plan reports to the DOL · how it compares · what to do next
What Bank of America puts in, and what the plan costs
What Bank of America put into the plan, per active participant
$7,651
Bank of America Corporation put $7,651 into this plan for each of its 168,229 active participants in plan year 2024. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
Bank of America put in more per active participant than 80% of plans with 5,000+ participants at holding companies. The middle plan in that group of 62 reported $4,209. Holding companies comes from business code 551111, which Bank of America entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much Bank of America pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: DOL Form 5500 for the plan year ended December 31, 2024, EIN 560906609, plan 003 · DOL EFAST2 ↗
The $7,651 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. Bank of America Corporation also files a Form 11-K, which states the match formula for plan year 2025: the card below reads $2,475 a year at a $49,500 salary, and the same filing states employer contributions made outside the match. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures cover different plan years and measure different things, so neither one is the other one corrected.
What Bank of America puts in
$2,475
a year, at a $49,500 salary.
The match paragraph, word for word
“All active participants in the Plan are eligible to receive company matching contributions and an annual company contribution after completing 12 months of service. Any pre-tax and/or Roth (after-tax) contributions made prior to completing 12 months of service are not eligible for the company matching contribution. The company matching contribution is calculated and allocated to the participant’s account on a pay period basis beginning the first of the month after the participant earns 12 months of vesting service and equals up to 5% of Plan-eligible compensation (subject to the Plan’s applicable match-eligible compensation limit) contributed by the participant for the pay period. The company matching contribution is made in cash and directed to the same investment choices as the pre-tax and/or Roth (after-tax) contributions. An end of year “true-up” matching contribution is also provided.”
What you contribute to collect all of it
Contribute at least 5% of your pay to collect the full match.
That is $2,475 a year at a $49,500 salary, and it scales with your own.
Vesting score
100 out of 100
How fast the employer’s money becomes yours. Higher than 48% of the 253 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Each participant is 100% vested in the participant’s pre-tax, Roth (after-tax) and rollover contributions to the Plan and company matching as well as earnings thereon. The annual company contribution, including earnings thereon, is fully vested after completion of 36 months of vesting service (with accelerated vesting upon the attainment of normal retirement age or in the event of retirement, qualifying severance, divestiture or death) and is forfeited if a participant terminates employment prior to completing such vesting service requirement.”
A worker hired today collects no match for 1 year. This is a filed term, and it does not move the score above.
Eligibility, word for word
“Full-time, part-time and temporary employees paid by US payroll are eligible to participate in the Plan after hire. However, any employee hired on or after April 1, 2021, and classified as an “intern” under the personnel policy of a participating employer, must perform at least 1,000 Hours of Service in a 12-month period or 500 Hours of Service during two consecutive 12-month eligibility computation periods, to participate in the Plan.”
The plan tops the match up after year end, so contributing unevenly through the year does not cost the worker part of it.
The same match paragraph, word for word
“All active participants in the Plan are eligible to receive company matching contributions and an annual company contribution after completing 12 months of service. Any pre-tax and/or Roth (after-tax) contributions made prior to completing 12 months of service are not eligible for the company matching contribution. The company matching contribution is calculated and allocated to the participant’s account on a pay period basis beginning the first of the month after the participant earns 12 months of vesting service and equals up to 5% of Plan-eligible compensation (subject to the Plan’s applicable match-eligible compensation limit) contributed by the participant for the pay period. The company matching contribution is made in cash and directed to the same investment choices as the pre-tax and/or Roth (after-tax) contributions. An end of year “true-up” matching contribution is also provided.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
Not reported
The Form 5500 filing does not report the plan-paid administrative expenses this figure needs.
What is Bank of America's 401(k) match formula?
Bank of America's 401(k) employer match tops out at 5% of pay. The match is deposited each payroll and the plan pays an annual true-up. What an annual true-up repays is the arithmetic behind that line: it matters most in a year when contributions land unevenly.
| Match formula | 100% (dollar-for-dollar) of the first 5% of pay |
|---|---|
| Maximum employer match | 5% of compensation |
| True-upA year-end recalculation that repays match lost to uneven contributions. | Yes, annual true-up |
| Deposited | Each payroll |
| Paid in company stock | No, paid in cash or per your investment elections |
| Conditions | Matching begins the first of the month after the participant earns 12 months of vesting service; pre-tax and/or Roth contributions made prior to completing 12 months of service are not eligible for the match; match is subject to the Plan's applicable match-eligible compensation limit |
| Other employer contribution | Annual company contribution equal to 2% (3% if the participant has at least 10 years of vesting service) of Plan-eligible compensation, paid after the participant earns 12 months of vesting service |
At a $75,000 salary, contributing 5% ($3,750) earns the full employer match of $3,750 for the year.
What the filing says, word for word
“All active participants in the Plan are eligible to receive company matching contributions and an annual company contribution after completing 12 months of service. Any pre-tax and/or Roth (after-tax) contributions made prior to completing 12 months of service are not eligible for the company matching contribution. The company matching contribution is calculated and allocated to the participant’s account on a pay period basis beginning the first of the month after the participant earns 12 months of vesting service and equals up to 5% of Plan-eligible compensation (subject to the Plan’s applicable match-eligible compensation limit) contributed by the participant for the pay period. The company matching contribution is made in cash and directed to the same investment choices as the pre-tax and/or Roth (after-tax) contributions. An end of year “true-up” matching contribution is also provided.”
Source: Form 11-K filed June 16, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is Bank of America's 401(k) vesting schedule?
Bank of America vests the employer match immediately: 100% is yours as soon as it is paid in. Nothing is forfeited when you leave, which is not true of the two schedules that vest over time.
| Employer match vesting | Immediate: employer match is 100% vested when contributed |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Other employer contributions | Annual company contribution vests after completion of 36 months of vesting service, with accelerated vesting upon attainment of normal retirement age or in the event of retirement, qualifying severance, divestiture or death |
Vesting, word for word
“Each participant is 100% vested in the participant’s pre-tax, Roth (after-tax) and rollover contributions to the Plan and company matching as well as earnings thereon. The annual company contribution, including earnings thereon, is fully vested after completion of 36 months of vesting service (with accelerated vesting upon the attainment of normal retirement age or in the event of retirement, qualifying severance, divestiture or death) and is forfeited if a participant terminates employment prior to completing such vesting service requirement.”
Source: Form 11-K filed June 16, 2026, SEC EDGAR · SEC ↗
Who can join Bank of America's 401(k), and is enrollment automatic?
Bank of America enrolls new hires automatically at 3% of pay, rising 1% a year to 5% of pay.
| Plan entry | Full-time, part-time and temporary employees paid by US payroll are eligible to participate after hire; contributions may begin as soon as administratively practical after employment commences |
|---|---|
| Match eligibility | Company matching contributions (and the annual company contribution) require completion of 12 months of service; the match begins the first of the month after the participant earns 12 months of vesting service |
| Excluded groups | Employees hired on or after April 1, 2021 and classified as interns must perform at least 1,000 Hours of Service in a 12-month period or 500 Hours of Service during two consecutive 12-month eligibility computation periods to participate |
| Automatic enrollment | Yes: default deferral 3% of pay; 45-day opt-out window; auto-escalation +1%/yr to 5% |
Eligibility, word for word
“Full-time, part-time and temporary employees paid by US payroll are eligible to participate in the Plan after hire. However, any employee hired on or after April 1, 2021, and classified as an “intern” under the personnel policy of a participating employer, must perform at least 1,000 Hours of Service in a 12-month period or 500 Hours of Service during two consecutive 12-month eligibility computation periods, to participate in the Plan.”
Automatic enrollment, word for word
“The Plan has an automatic enrollment feature for newly-hired employees with a default elective deferral rate of 3% of covered compensation, subject to a 45-day opt-out election, with automatic annual increases of 1% up to a ceiling of 5%.”
Source: Form 11-K filed June 16, 2026, SEC EDGAR · SEC ↗
What does the Bank of America plan report on Form 5500?
The Bank of America plan reported $62.9B in assets and 254,477 participants for plan year 2024.
| Total plan assets | $62,902,405,616 |
|---|---|
| Participants | 254,477 |
| Recordkeeper | Bank Of America, N.A. (Plan Trustee) |
How that cost compares
It is one of 643 plans at holding companies in the Form 5500 data we publish.
The Bank Of America 401(k) Plan on its Form 5500 filing: fees, providers and financials
How does Bank of America's 401(k) match compare?
Bank of America Corporation's maximum 401(k) match of 5% of pay compares with a median of 4.5% across the 181 companies in our data with a computable formula.
Employers worth reading next
Of the six employers below, three file at holding companies, two land near Bank of America's maximum match and one vests on the same schedule.
Maximum match 5% of pay. Also at holding companies.
Maximum match 6% of pay. Also at holding companies.
Maximum match 5% of pay. Also at holding companies.
Maximum match 5% of pay, level with Bank of America.
Maximum match 5% of pay, level with Bank of America.
Employer match vests immediately. Vests immediately too, like Bank of America.
Compare Bank of America Corporation with any company, side by side
What can you do next?
Check your own balance and contribution rate at Merrill Benefits OnLine ↗, the recordkeeper this plan reports.
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 16, 2026, SEC EDGAR. Every match fact on this page comes from it.
- Changed jobs? Find an old 401(k) ↗
The Department of Labor's Retirement Savings Lost & Found, a free government database.
- This year's IRS contribution limits ↗
The official deferral and catch-up limits every formula operates under.
- Download this data (CSV)
Formula, vesting and source references for this company, one file.
Questions this filing answers
What is Bank of America Corporation's 401(k) match?
Bank of America Corporation matches 100% of employee contributions up to 5% of eligible pay (plan year ended December 31, 2025).
When does the Bank of America Corporation 401(k) match vest?
Immediate: employer match is 100% vested when contributed.
Does Bank of America Corporation's 401(k) plan have automatic enrollment?
Yes: default deferral 3% of pay; 45-day opt-out window; auto-escalation +1%/yr to 5%.
Cite: 401(k) Monitor, “Bank of America Corporation 401(k) plan facts”, from SEC Form 11-K accession 0000070858-26-000338, plan year ended 2025-12-31.