Company: USB-PA
Filing Date: 2025-06-18
Form Type: 11-K
Source: 0001193125-25-142817
Chunk: 0

Company: US BANCORP \DE\
Filing Date: 2025-06-18
Form: 11-K
Chunk 0
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K

| ☒ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

For the fiscal year ended December 31, 2024 OR

| ☐ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

For the transition period from (not applicable) Commission file number 1-6880 U.S. BANK 401(k) SAVINGS PLAN 800 Nicollet Mall Minneapolis, Minnesota 55402-4302 (Full title of the plan and the address of the plan) U.S. BANCORP 800 Nicollet Mall Minneapolis, Minnesota 55402-4302 (Name and address of principal executive offices of the issuer of the securities)

REQUIRED INFORMATION U.S. Bank 401(k) Savings Plan (the Plan) is subject to the Employee Retirement Income Security Act of 1974 (ERISA). Therefore, in lieu of the requirements of Items 1-3of Form 11-K,the financial statements and schedules of the Plan for the years ended December 31, 2023 and 2024, which have been prepared in accordance with the financial reporting requirements of ERISA, are attached hereto as Exhibit 13 and incorporated herein by this reference. The following exhibits are filed with this report:

| Exhibit Number 
 13             |     | Description                                                  
 Annual Report for the years ended December 31, 2024 and 2023 |
|:---------------|:----|:-------------------------------------------------------------|
| 23             |     | Consent of Independent Registered Public Accounting Firm     |

SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. U.S. BANK 401(k) SAVINGS PLAN By: U.S. Bank 401(k) Savings Plan Benefit Administration Committee

| /s/ Matthew J. Insinga                       |     | June 18, 2025 |
|:---------------------------------------------|:----|:--------------|
| Matthew J. Insinga                           |     |               |
| Benefit Administration Committee Chairperson |     |               |