Exhibit 21
Direct and Indirect Subsidiaries of Bank of America Corporation
As of December 31, 2025

| Name | Location | Jurisdiction
| BA Continuum India Private Limited | Hyderabad, India | India
| BA Electronic Data Processing (Guangzhou) Ltd. | Guangzhou, PRC | People's Republic of China
| BAC Canada Finance Company | Toronto, Ontario, Canada | Canada
| BAC North America Holding Company | Charlotte, NC | Delaware
| BAL Investment & Advisory, LLC | San Francisco, CA | Delaware
| Banc of America FSC Holdings, Inc. | San Francisco, CA | Delaware
| Banc of America Leasing & Capital, LLC | San Francisco, CA | Delaware
| Banc of America Public Capital Corp | San Francisco, CA | Kansas
| Bank of America California, National Association | San Francisco, CA | United States of America
| Bank of America Europe Designated Activity Company | Dublin, Ireland | Ireland
| Bank of America Malaysia Berhad | Kuala Lumpur, Malaysia | Malaysia
| Bank of America Merrill Lynch Banco Múltiplo S.A. | Sao Paulo, Brazil | Brazil
| Bank of America Mexico, S.A., Institucion de Banca Multiple | Mexico City, Mexico | Mexico
| Bank of America, National Association | Charlotte, NC | United States of America
| Bank of America Singapore Limited | Singapore, Singapore | Singapore
| Bank of America Yatirim Bank A.S. | Istanbul, Turkey | Turkey
| BankAmerica International Financial Corporation | San Francisco, CA | United States of America
| Blue Ridge Investments, L.L.C. | New York, NY | Delaware
| BofA Finance LLC | Charlotte, NC | Delaware
| BofA Securities Europe SA | Paris, France | France
| BofA Securities, Inc. | New York, NY | Delaware
| BofA Securities India Limited | Mumbai, India | India
| BofA Securities Japan Co., Ltd. | Tokyo, Japan | Japan
| BofA Securities Prime, Inc. | New York, NY | Delaware
| Managed Account Advisors LLC | Jersey City, NJ | Delaware
| Merrill Lynch (Asia Pacific) Limited | Hong Kong, PRC | Hong Kong
| Merrill Lynch (Australia) Futures Limited | Sydney, Australia | Australia
| Merrill Lynch (Singapore) Pte. Ltd. | Singapore, Singapore | Singapore
| Merrill Lynch Argentina S.A. | Capital Federal, Argentina | Argentina
| Merrill Lynch B.V. | Amsterdam, Netherlands | Netherlands
| Merrill Lynch Bank and Trust Company (Cayman) Limited | George Town, Grand Cayman, Cayman Is. | Cayman Islands
| Merrill Lynch Canada Inc. | Toronto, Ontario, Canada | Canada
| Merrill Lynch Capital Services, Inc. | New York, NY | Delaware
| Merrill Lynch Commodities Canada, ULC | Toronto, Ontario, Canada | Canada
| Merrill Lynch Commodities, Inc. | Houston, TX | Delaware
| Merrill Lynch Corredores de Bolsa SpA | Santiago, Chile | Chile
| Merrill Lynch Equities (Australia) Limited | Sydney, Australia | Australia
| Merrill Lynch Far East Limited | Hong Kong, PRC | Hong Kong
| Merrill Lynch Global Services Pte. Ltd. | Singapore, Singapore | Singapore
| Merrill Lynch International | London, U.K. | United Kingdom
| Merrill Lynch International, LLC | Charlotte, NC | Delaware
| Merrill Lynch Israel Ltd. | Tel Aviv, Israel | Israel
| Merrill Lynch, Kingdom of Saudi Arabia Company | Kingdom of Saudi Arabia | Saudi Arabia
| Merrill Lynch Malaysian Advisory Sdn. Bhd. | Kuala Lumpur, Malaysia | Malaysia
| Merrill Lynch Markets (Australia) Pty. Limited | Sydney, Australia | Australia
| Merrill Lynch Mexico, S.A. de C.V., Casa de Bolsa | Mexico City, Mexico | Mexico
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | New York, NY | Delaware
| Merrill Lynch S.A. Corretora de Títulos e Valores Mobiliários | Sao Paulo, Brazil | Brazil
| Merrill Lynch Securities (Taiwan) Ltd. | Taipei, Taiwan | Taiwan
| Merrill Lynch Securities (Thailand) Limited | Bangkok, Thailand | Thailand
| Merrill Lynch South Africa Proprietary Limited | Gauteng, South Africa | South Africa
| Mortgages plc | London, U.K. | United Kingdom
| NB Holdings Corporation | Charlotte, NC | Delaware
| PT Merrill Lynch Sekuritas Indonesia | Jakarta, Indonesia | Indonesia
| U.S. Trust Company of Delaware | Wilmington, DE | Delaware
| Wave Lending Limited | London, U.K. | United Kingdom

Pursuant to Item 601(b)(21)(ii) of Regulation S-K, the names of certain other subsidiaries of Bank of America Corporation are omitted. These subsidiaries, considered in the aggregate, would not constitute a "significant subsidiary" under SEC rules.