Company: TFC
Filing Date: 2025-06-24
Form Type: 11-K
Source: 0000092230-25-000071
Chunk: 10

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-06-24
Form: 11-K
Chunk 10
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 |               |
| Truist common stock             |     | $                 |    505,835,171 |     | $       |   505,835,171 |     | $       |             — |
| Mutual funds                    |     |                   |  2,817,352,870 |     |         | 2,817,352,870 |     |         |             — |
| Brokeragelink                   |     |                   |    448,450,400 |     |         |   431,990,643 |     |         |    16,459,757 |
| Collective trusts               |     |                   |  6,237,745,207 |     |         |             — |     |         | 6,237,745,207 |
| Total investments at fair value |     | $                 | 10,009,383,648 |     | $       | 3,755,178,684 |     | $       | 6,254,204,964 |

There were no transfers between levels during 2024 and 2023.

#### 5. Tax Status
The IRS has determined and informed the Plan Sponsor by a letter dated September 7, 2022, that the Plan was designed in accordance with applicable sections of the IRC. Although the Plan has been amended since receiving the determination letter, the Plan Administrator believes that the Plan was designed and is currently being operated in compliance with the applicable provisions of the IRC. Therefore, no provision for income taxes was included in the Plan’s financial statements.

Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2024 and 2023, there are no uncertain positions taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

#### 6. Plan Termination
Although it has not expressed any intent to do so, the Plan Sponsor has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan