UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             ----------------------

                                    FORM 10-Q

(Mark One)
[X]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934
        For the quarterly period ended September 30, 2009

[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934
        For the transition period from    to

COMMISSION FILE NO.: 1-7182-08

                     MERRILL LYNCH PREFERRED CAPITAL TRUST IV
      (Exact name of Registrant as specified in its certificate of trust)


       Delaware                                          13-7139562
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

  4 World Financial Center
     New York, New York                                   10080
(Address of principal executive offices)               (Zip Code)

Registrant's telephone number, including area code: (212) 449-1000

 COMMISSION FILE NO.: 1-7182-07

                     MERRILL LYNCH PREFERRED FUNDING IV, L.P.
                  (Exact name of Registrant as specified in its
                      certificate of limited partnership)


          Delaware                                     13-3982446
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

   4 World Financial Center
      New York, New York                                     10080
(Address of principal executive offices)                   (Zip Code)

 Registrant's telephone number, including area code: (212) 449-1000


Indicate by check mark whether the Registrants: (1) have filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrants were required to file such reports), and (2) have been subject to
such requirements for the past 90 days. Yes |X| No |_|

Indicate by check mark whether the registrants have submitted electronically and
posted on its corporate web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405)
during the preceding 12 months (or for such shorter period that the registrants
were required to submit and post such files).  Yes[ ] No [ ]


Indicate by check mark whether the Registrants are large accelerated filers,
accelerated filers, non-accelerated filers, or smaller reporting companies.
See definition of "accelerated filer", "large accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

(Check one)
Large accelerated filer [ ]   Accelerated filer [ ]   Non-accelerated filer[X]
Smaller reporting company [ ]

Indicate by check mark whether the Registrants are shell companies (as defined
in Rule 12b-2 of the Exchange Act).  Yes [] No [x]

As of November 13, 2009, no voting stock of the Registrants was held by
non-affiliates of the Registrants.

The Registrants meet the conditions set forth in General Instruction H 1 (a) and
(b) of Form 10-Q and are therefore filing this form with a reduced disclosure
format.

================================================================================
<PAGE>

                         PART I - FINANCIAL INFORMATION
                         ------------------------------

ITEM 1.   FINANCIAL STATEMENTS (Unaudited)
          --------------------
<TABLE>
<CAPTION>

MERRILL LYNCH PREFERRED CAPITAL TRUST IV
CONDENSED BALANCE SHEETS (unaudited)
(dollars in thousands, except per security amounts)
--------------------------------------------------------------------------------------------------------------------------



                                                                                     September 30, 2009  December 26, 2008
                                                                                     --------------      -----------------
<S>                                                                                   <C>             <C>
ASSETS

Investment in affiliate partnership preferred securities                                 $  412,372             $  412,372
Interest receivable from affiliates                                                               -                  7,341
                                                                                         ----------             ----------
Total Assets                                                                             $  412,372             $  419,713
                                                                                         ==========             ==========
LIABILITIES AND STOCKHOLDERS' EQUITY

 Distribution Payable                                                                    $        -             $    7,341
                                                                                         ----------             ----------

STOCKHOLDERS' EQUITY

Stockholders' equity:

   Preferred securities (7.12% Trust Originated Preferred Securities;
      16,000,000 authorized, issued, and outstanding; $25 liquidation
      amount per security)                                                                  400,000                400,000

   Common securities (7.12% Trust Common Securities;
      494,880 authorized, issued, and outstanding;
      $25 liquidation amount per security)                                                   12,372                 12,372
                                                                                         ----------             ----------
   Total Stockholders' Equity                                                               412,372                412,372
                                                                                         ----------             ----------

Total Liabilities and Stockholders' Equity                                               $  412,372             $  419,713
                                                                                         ==========             ==========
</TABLE>

See Note to Condensed Financial Statements

                                        2
<PAGE>

<TABLE>
<CAPTION>

MERRILL LYNCH PREFERRED CAPITAL TRUST IV
CONDENSED STATEMENTS OF EARNINGS  (unaudited)
(dollars in thousands)
------------------------------------------------------------------------------------------------------------------------------

                                                                                           FOR THE THREE MONTHS ENDED
                                                                                       -----------------------------------

                                                                                       September 30, 2009  September 26, 2008
                                                                                       ------------------  ------------------
<S>                                                                                         <C>                  <C>
EARNINGS

Interest on affiliate partnership preferred securities                                      $   7,341            $   7,341
                                                                                            =========            =========




<CAPTION>
                                                                                          FOR THE NINE MONTHS ENDED
                                                                                       -----------------------------------

                                                                                       September 30, 2009 September 26, 2008
                                                                                       -----------------  ------------------
<S>                                                                                         <C>                  <C>
EARNINGS

Interest on affiliate partnership preferred securities                                      $  22,021            $  22,021
                                                                                            =========            =========






</TABLE>

See Note to Condensed Financial Statements


                                        3
<PAGE>

<TABLE>
<CAPTION>

MERRILL LYNCH PREFERRED CAPITAL TRUST IV
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY  (unaudited)
(dollars in thousands)
--------------------------------------------------------------------------------------------------------------------------

                                                                                          FOR THE NINE MONTHS ENDED
                                                                                       -----------------------------------

                                                                                       September 30, 2009 September 26, 2008
                                                                                       --------------       --------------
<S>                                                                                          <C>                  <C>
PREFERRED SECURITIES

Balance, beginning and end of period                                                       $  400,000           $  400,000
                                                                                           ----------           ----------

COMMON SECURITIES

Balance, beginning and end of period                                                           12,372               12,372
                                                                                           ----------           ----------

UNDISTRIBUTED EARNINGS

Balance, beginning of period                                                                        -                    -
Earnings                                                                                       22,021               22,021
Distributions                                                                                 (22,021)             (14,680)
Distributions payable                                                                               -               (7,341)
                                                                                           ----------           ----------
Balance, end of period                                                                              -                    -
                                                                                           ----------           ----------


Total Stockholders' Equity                                                                 $  412,372           $  412,372
                                                                                           ==========           ==========
</TABLE>

See Note to Condensed Financial Statements

                                        4
<PAGE>

<TABLE>
<CAPTION>

MERRILL LYNCH PREFERRED CAPITAL TRUST IV
CONDENSED STATEMENTS OF CASH FLOWS  (unaudited)
(dollars in thousands)
--------------------------------------------------------------------------------------------------------------------

                                                                                        FOR THE NINE MONTHS ENDED
                                                                                  ------------------------------------

                                                                                 September 30, 2009    September 26, 2008
                                                                                 ------------------    ------------------
<S>                                                                             <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Earnings                                                                           $  22,021           $  22,021
   Change in Interest receivable from affiliates                                              -              (7,341)
                                                                                      ---------            --------
      Cash provided by operating activities                                              22,021              14,680
                                                                                      ---------            --------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Distributions                                                                        (22,021)            (14,680)
                                                                                      ---------            --------
      Cash used for financing activities                                                (22,021)            (14,680)
                                                                                      ---------            --------

NET CHANGE IN CASH                                                                            -                   -

CASH, BEGINNING OF PERIOD                                                                     -                   -
                                                                                      ---------            --------
CASH, END OF PERIOD                                                                   $       -            $      -
                                                                                      =========            ========


SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:

Distributions accrued at September 30, 2009 and September 26, 2008 were $0 and
$7,341, respectively.






</TABLE>

See Note to Condensed Financial Statements

                                        5
<PAGE>



MERRILL LYNCH PREFERRED CAPITAL TRUST IV
NOTE TO CONDENSED FINANCIAL STATEMENTS  (unaudited)
September 30, 2009
-------------------------------------------------------------------------------

Summary of Significant Accounting Policies

For a complete discussion of significant accounting policies, refer to the
Audited Consolidated Financial Statements included in Merrill Lynch Preferred
Capital Trust IV's (the "Trust") Annual Report on Form 10-K for the year ended
December 26, 2008.

The Trust is a statutory business trust formed under the Delaware Business
Trust Act.  Merrill Lynch & Co., Inc. ("ML&Co.") is the sole owner of the Trust
common securities.

On January 1, 2009, ML&Co. was acquired by Bank of America Corporation
("Bank of America") with ML&Co. continuing as a wholly-owned subsidiary of
Bank of America.


BASIS OF PRESENTATION

Effective January 1, 2009, the Trust adopted calendar quarter-end and year-end
reporting periods to coincide with those of ML&Co. and Bank of America. Earnings
for the intervening period between the Trust's previous fiscal year end
(December 26, 2008) and beginning of the current year (January 1, 2009)
were not material. During this period, the Trust received cash
of $7.3 million from an affiliate and paid $7.3 million in distributions.

These unaudited condensed financial statements should be read in conjunction
with the audited financial statements included in the Annual Report on Form 10-K
of the Trust for the year ended December 26, 2008. The interim condensed
financial statements for the three- and nine-month periods are unaudited;
however, all adjustments necessary for a fair presentation of the condensed
financial statements have been included.

INVESTMENTS

The Trust's investment in Merrill Lynch Preferred Funding IV, L.P.  (the
"Partnership") Preferred Securities represents a limited partnership interest in
the Partnership and is recorded at cost. Income on the Partnership Preferred
Securities is accrued when earned.


                                        6
<PAGE>

<TABLE>
<CAPTION>

MERRILL LYNCH PREFERRED FUNDING IV, L.P.
CONDENSED BALANCE SHEETS  (unaudited)
(dollars in thousands)
------------------------------------------------------------------------------------------------------------------------



                                                                                  September 30, 2009   December 26, 2008
                                                                                  ------------------   -----------------
<S>                                                                                      <C>              <C>
ASSETS

Investments:
   Affiliate debentures                                                               $  480,292          $  480,292
   U.S. Government and agencies                                                            4,853               4,855
                                                                                      ----------          ----------
   Total investments                                                                     485,145             485,147
   Interest receivables from affiliates                                                        -               8,549
                                                                                      ----------          ----------
Total Assets                                                                          $  485,145          $  493,696
                                                                                      ==========          ==========

LIABILITIES AND PARTNERS' CAPITAL

   Distribution Payable                                                               $        -          $    8,550
                                                                                      ----------          ----------


PARTNERS' CAPITAL

Partners' capital:
   Limited partnership interest                                                          412,372             412,372
   General partnership interest                                                           72,773              72,774
                                                                                      ----------          ----------
Total Partners' Capital                                                                  485,145             485,146
                                                                                      ----------          ----------

Total Liabilities and Partners' Capital                                               $  485,145          $  493,696
                                                                                      ==========          ==========
</TABLE>

See Note to Condensed Financial Statements

                                        7
<PAGE>

<TABLE>
<CAPTION>


MERRILL LYNCH PREFERRED FUNDING IV, L.P.
CONDENSED STATEMENTS OF EARNINGS  (unaudited)
(dollars in thousands)
----------------------------------------------------------------------------------------------------------------------------


                                                                                           FOR THE THREE MONTHS ENDED
                                                                                       -----------------------------------

                                                                                       September 30, 2009  September 26, 2008
                                                                                       ------------------  ------------------
<S>                                                                                         <C>                  <C>
EARNINGS

Interest income:
   Affiliate debentures                                                                    $    8,550           $    8,550
   U.S. Government and agencies                                                                     2                   23
                                                                                           ----------           ----------
Earnings                                                                                   $    8,552           $    8,573
                                                                                           ==========           ==========

<CAPTION>
                                                                                           FOR THE NINE MONTHS ENDED
                                                                                       -----------------------------------

                                                                                       September 30, 2009 September 26, 2008
                                                                                       ------------------ ------------------
<S>                                                                                         <C>                  <C>
EARNINGS

Interest income:
   Affiliate debentures                                                                    $   25,648           $   25,648
   U.S. Government and agencies                                                                    13                   93
                                                                                           ----------           ----------
Earnings                                                                                   $   25,661           $   25,741
                                                                                           ==========           ==========




</TABLE>

See Note to Condensed Financial Statements


                                        8
<PAGE>

<TABLE>
<CAPTION>

MERRILL LYNCH PREFERRED FUNDING IV, L.P.
CONDENSED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL  (unaudited)
(dollars in thousands)
--------------------------------------------------------------------------------------------------------------------------


                                                                                            FOR THE NINE MONTHS ENDED
                                                                                       -----------------------------------

                                                                                   September 30, 2009  September 26, 2008
                                                                                   --------------       ---------------
<S>                                                                                    <C>                  <C>
LIMITED PARTNER'S CAPITAL

Balance, beginning of period                                                           $  412,372           $  412,372
Net income allocated to limited partner                                                    22,021               22,021
Distributions                                                                             (22,021)             (14,680)
Distributions payable                                                                           -               (7,341)
                                                                                       ----------           ----------
Balance, end of period                                                                    412,372              412,372
                                                                                       ----------           ----------


GENERAL PARTNER'S CAPITAL

Balance, beginning of period                                                               72,774               72,786
Net income allocated to general partner                                                     3,640                3,720
Distributions                                                                              (3,641)              (2,493)
Distributions payable                                                                           -               (1,209)
                                                                                       ----------           ----------
Balance, end of period                                                                     72,773               72,804
                                                                                       ----------           ----------

TOTAL PARTNERS' CAPITAL                                                                $  485,145           $  485,176
                                                                                       ==========           ==========
</TABLE>

See Note to Condensed Financial Statements

                                        9
<PAGE>


<TABLE>
<CAPTION>

MERRILL LYNCH PREFERRED FUNDING IV, L.P.
CONDENSED STATEMENTS OF CASH FLOWS  (unaudited)
(dollars in thousands)
-----------------------------------------------------------------------------------------------------------------------


                                                                                      FOR THE NINE MONTHS ENDED
                                                                                  -----------------------------------

                                                                                September 30, 2009    September 26, 2008
                                                                                ------------------    ------------------

<S>                                                                                  <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Earnings                                                                          $  25,661            $  25,741
   Accretion of interest on securities issued by
   U.S. Government and agencies                                                            (13)                 (93)
   Change in interest receivable from affiliates                                             -               (8,550)
                                                                                     ---------            ---------
      Cash provided by operating activities                                             25,648               17,098
                                                                                     ---------            ---------

CASH FLOWS FROM INVESTING ACTIVITIES
   Purchase of investment securities                                                    (9,704)              (4,852)
   Maturities of investment securities                                                   9,718                4,927
                                                                                      --------            ---------
      Cash provided by investing activities                                                 14                   75
                                                                                     ---------           ----------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Distributions to limited partner                                                    (22,021)             (14,680)
   Distributions to general partner                                                     (3,641)              (2,493)
                                                                                     ---------            ---------
      Cash used for financing activities                                               (25,662)             (17,173)
                                                                                     ---------            ---------

NET CHANGE IN CASH                                                                           -                    -

CASH, BEGINNING OF PERIOD                                                                    -                    -
                                                                                     ---------            ---------
CASH, END OF PERIOD                                                                  $       -            $       -
                                                                                     =========            =========



SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:

Distributions accrued at September 30, 2009 and September 26, 2008 were $0 and
$8,550, respectively.


</TABLE>

See Note to Condensed Financial Statements

                                       10
<PAGE>


MERRILL LYNCH PREFERRED FUNDING IV, L.P.
NOTE TO CONDENSED FINANCIAL STATEMENTS  (unaudited)
September 30, 2009
--------------------------------------------------------------------------------

Summary of Significant Accounting Policies

For a complete discussion of significant accounting policies, refer to the
Audited Consolidated Financial Statements included in Merrill Lynch Preferred
Funding IV, L.P.'s (the "Partnership") Annual Report on Form 10-K for the
year ended December 26, 2008.

The Partnership is a limited partnership formed under the Delaware Revised
Uniform Limited Partnership Act. Merrill Lynch & Co., Inc. ("ML&Co.") is the
sole general partner of the Partnership.

On January 1, 2009, ML&Co. was acquired by Bank of America Corporation ("Bank of
America") with ML&Co. continuing as a wholly-owned subsidiary of Bank of
America.

BASIS OF PRESENTATION

Effective January 1, 2009, the Partnership adopted calendar quarter-end and
year-end reporting periods to coincide with those of ML&Co. and Bank of America.
Earnings for the intervening period between the Partnership's previous
fiscal year-end (December 26, 2008) and beginning of the current year
(January 1, 2009) were not material. During this period, the Partnership
received cash of $8.5 million from an affiliate and paid $8.5 million in
distributions.

These unaudited condensed financial statements should be read in conjunction
with the audited financial statements included in the Annual Report on Form 10-K
of the Partnership for the year ended December 26, 2008. The interim condensed
financial statements for the three- and nine-month periods are unaudited;
however, all adjustments necessary for a fair presentation of the condensed
financial statements have been included.


INVESTMENTS

The Partnership's investment in affiliate debentures is recorded at cost. Its
investment in U.S. Government and agency securities is recorded at accreted cost
and matures within one year. At September 30, 2009, the estimated fair value of
the investment in affiliate debentures is approximately $311 million and the
fair value of the investment in U.S. Government and agency securities
approximates its carrying value.


                                       11
<PAGE>

ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

No disclosure is required for this Item pursuant to General Instruction H of
Form 10-Q.  There are no material changes in the amount of revenue and expense
items between the most recent calendar year-to-date period presented and the
corresponding year-to-date period in the preceding fiscal year.



ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

No disclosure is required for this Item pursuant to General Instruction H of
Form 10-Q.



ITEM 4.  CONTROLS AND PROCEDURES

The persons who function as the equivalent of the chief executive officer and
chief financial officer of the Trust and the Partnership have evaluated the
effectiveness of the Trust's and the Partnership's disclosure controls and
procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of
1934) as of the end of the period covered by this Report. Based on that
evaluation, the persons who function as the equivalent of the chief executive
officer and chief financial officer of the Trust and the Partnership have
concluded that the Trust's and the Partnership's disclosure controls and
procedures were effective as of the end of the period covered by this Report.

In addition, no change in the Trust's and the Partnership's internal control
over financial reporting (as defined in Rule 13a-15(f) under the Securities
Exchange Act of 1934) occurred during the third quarter of 2009 that
has materially affected, or is reasonably likely to materially affect, the
Trust's or the Partnership's internal control over financial reporting.


                                       12
<PAGE>



                           PART II - OTHER INFORMATION

Item 1A.    Risk Factors

There are no material changes from the risk factors set forth under Part I,
Item 1A. "Risk Factors" in the Trust's and the Partnership's 2008 Annual Report
on Form 10-K, other than the addition of the following risk factor included in
ML&Co.'s Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 2009, which is incorporated by reference from Exhibit 99.1 to
this report.


ITEM 6.  EXHIBITS

     12        Computation of Ratios of Earnings to Combined Fixed Charges and
               Preferred Securities Distributions.

     31.1      Rule 13a - 14(a) Certification.

     31.2      Rule 13a - 14(a) Certification.

     32.1      Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
               Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

     32.2      Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
               Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

     99.1      Excerpt of Merrill Lynch & Co., Inc. Quarterly Report on Form
               10-Q for the period ended September 30, 2009.




                                       13
<PAGE>




                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants have duly caused this report to be signed on their behalf by the
undersigned thereunto duly authorized.


                               MERRILL LYNCH PREFERRED CAPITAL TRUST IV*

                               By: /s/ MARLENE DEBEL
                                   ---------------------------------------------
                               Name:   Marlene Debel
                               Title:  Regular Trustee


                               MERRILL LYNCH PREFERRED FUNDING IV, L.P.*


                               By: MERRILL LYNCH & CO., INC., as General Partner

                               By: /s/ THOMAS W. PERRY
                                   ---------------------------------------------
                               Name:   Thomas W. Perry
                               Title:  Chief Accounting Officer and Controller
                                       Merrill Lynch & Co., Inc.

November 13, 2009
-----------------

* There is no principal executive officer(s), principal financial officer,
controller, principal accounting officer or board of directors of the
Registrants. The Trustees of the Trust (which include the Regular Trustees, the
Property Trustee and the Delaware Trustee) together exercise all powers and
perform all functions with respect to the Trust.



                                       14
<PAGE>




                                INDEX TO EXHIBITS

EXHIBITS

     12*       Computation of Ratios of Earnings to Combined Fixed Charges and
               Preferred Securities Distributions.

     31.1*     Rule 13a - 14(a) Certification.

     31.2*     Rule 13a - 14(a) Certification.

     32.1*     Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
               Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

     32.2*     Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
               Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

     99.1*     Excerpt of Merrill Lynch & Co., Inc. Quarterly Report on Form
               10-Q for the period ended September 30, 2009.

----------------
*Filed herewith

                                       15