11-K 1 amp401kplan123121.htm 11-K Document




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

FORM 11-K

    ý    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the year ended December 31, 2021
 
Or

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


For the Transition Period from __________________ to __________________


Commission file number 1-32525





A.    Full title of the plan and the address of the plan, if different from that of the issuer named below:
AMERIPRISE FINANCIAL 401(k) PLAN

 
B.    Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
AMERIPRISE FINANCIAL, INC.
55 Ameriprise Financial Center
Minneapolis, MN 55474















Ameriprise Financial 401(k) Plan
 Financial Statements and Supplemental Schedule
 
December 31, 2021 and 2020
with Report of Independent Registered Public Accounting Firm




Ameriprise Financial 401(k) Plan
Form 11-K


INDEX
Report of Independent Registered Public Accounting Firm
Financial Statements
Statements of Net Assets Available for Benefits as of December 31, 2021 and 2020
Statements of Changes in Net Assets Available for Benefits for the years ended December 31, 2021 and 2020
Notes to Financial Statements
Supplemental Schedule
Schedule H, Line 4i — Schedule of Assets (Held at End of Year)
12 
Signature
21 
Exhibit Index
22 





Report of Independent Registered Public Accounting Firm

To the Administrator and Plan Participants of the Ameriprise Financial 401(k) Plan

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of the Ameriprise Financial 401(k) Plan (the “Plan”) as of December 31, 2021 and 2020 and the related statements of changes in net assets available for benefits for the years then ended, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2021 and 2020, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2021 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.



/s/ PricewaterhouseCoopers LLP
Minneapolis, Minnesota
June 29, 2022

We have served as the Plan’s auditor since 2012.

1


Ameriprise Financial 401(k) Plan
Statements of Net Assets Available for Benefits
 December 31,
20212020
Assets
  
Cash
$728,853 $1,281,993 
Investments at fair value
2,954,738,203 2,466,196,023 
Investments at contract value
167,440,037 174,658,765 
Receivables:
 
Accrued income
51,198 47,902 
Due from broker
1,684,153 4,342,592 
Employer contributions
5,243,027 4,855,710 
Participant loans
27,058,208 30,421,907 
Total assets
3,156,943,679 2,681,804,892 
Liabilities
 
Due to broker
5,509,337 9,583,327 
Accrued expenses
81,784 65,577 
Total liabilities
5,591,121 9,648,904 
Net assets available for benefits at end of year
$3,151,352,558 $2,672,155,988 
See Notes to Financial Statements.

2


Ameriprise Financial 401(k) Plan
Statements of Changes in Net Assets Available for Benefits
 Years Ended December 31,
20212020
Contributions: 
Employer, net of forfeitures$55,267,004 $55,007,529 
Participant118,560,585 112,980,968 
Participant rollovers10,720,524 8,083,485 
Total contributions184,548,113 176,071,982 
Investment income:
Interest1,720,274 2,774,264 
Dividends11,998,208 11,645,212 
Net realized/unrealized appreciation522,812,352 369,313,274 
Total investment income536,530,834 383,732,750 
Other income77,545 69,142 
Interest on participant loans1,172,626 1,479,763 
Total additions722,329,118 561,353,637 
Administrative expenses(1,014,611)(942,515)
Withdrawal payments(242,117,937)(214,739,068)
Total deductions(243,132,548)(215,681,583)
Net increase in net assets available for benefits479,196,570 345,672,054 
Net assets available for benefits at beginning of year2,672,155,988 2,326,483,934 
Net assets available for benefits at end of year$3,151,352,558 $2,672,155,988 
See Notes to Financial Statements.

3


Ameriprise Financial 401(k) Plan
Notes to Financial Statements
December 31, 2021
1.  Description of the Plan
General
The Ameriprise Financial 401(k) Plan (the “Plan”), which became effective October 1, 2005, is a defined contribution plan. Under the terms of the Plan, certain regular full-time and part-time employees of Ameriprise Financial, Inc. and its participating subsidiaries (the “Company”) can make contributions to the Plan and are eligible to receive Company contributions beginning with the pay period in which they complete 60 days of service.
The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The following is not a comprehensive description of the Plan, and therefore, does not include all situations and limitations covered by the Plan. Participants should refer to the Plan document for more complete information.
Recordkeeping and Trustee of Plan Assets
Wells Fargo Bank, N.A. is the Plan’s trustee for all assets, and Alight Solutions is the Plan’s recordkeeper, including the self-directed brokerage account. In July 2019, the Principal Financial Group closed on the acquisition of the Institutional Retirement & Trust business of Wells Fargo Bank, N.A. The successor trustee became Principal Trust Company effective February 24, 2022. The Plan is administered by the Ameriprise Financial Employee Benefits Administration Committee (“EBAC”). The Ameriprise Financial 401(k) Investment Committee (“KIC”) selects and monitors the investment options offered to participants under the Plan and oversees matters related to Plan investments (excluding the Ameriprise Financial Stock Fund and investments selected by participants under the self-directed brokerage account). Members of the EBAC and KIC are appointed by fiduciaries as specified in the Plan.
Contributions
Elective Contributions
Each pay period, eligible participants may make pretax and/or Roth 401(k) contributions (up to 80% of eligible compensation), and after-tax contributions (up to 10% of eligible compensation) or a combination of any of the three, not to exceed 80% of their eligible compensation to the Plan through payroll deductions. The Internal Revenue Code of 1986, as amended (the “Code”), imposes a limitation on participants’ pretax and Roth contributions to plans that are qualified under Code Section 401(k) and other specified tax favored plans. This limit was $19,500 for both 2021 and 2020 for employees under age 50. For employees age 50 and older the limit was $26,000 for both 2021 and 2020. The Plan complied with nondiscrimination requirements under the Code for both 2021 and 2020.
Fixed Match Contributions
The Company matches 100% of the first 5% of eligible compensation an employee contributes on a pretax and/or Roth 401(k) basis for each pay period. At the end of each year, the Company completes a fixed match true-up for qualifying participants to ensure the fixed match contribution provided by the Company is equal to the lesser of 5% of eligible compensation or the participants’ annual deferral rate average. Participants must be employed on the last business day of the Plan year or have terminated employment, generally due to retirement (at or after age 65), disability (as defined in the Plan), transfer to Franchise Advisor role or death to receive a true-up contribution.
On April 24, 2020, the Company instituted a 2% base Company contribution at each pay period for the Plan for certain employees not eligible to participate in the Ameriprise Financial Retirement Plan due to plan amendments to freeze the plan to new entrants. This base contribution is invested based on the employee’s elections or a default fund if no elections are made and eligible employees are not required to elect to save their own money to receive this contribution.
Limit on Contributions
For purposes of the Plan, eligible compensation is a participant’s regular cash compensation up to $290,000 and $285,000 for 2021 and 2020, respectively, before tax deductions and certain other withholdings. Eligible compensation for all employees includes performance related cash bonuses, overtime, commissions and certain other amounts in addition to regular earnings.
Rollover Contributions
A rollover is a transfer to the Plan of a qualified distribution in accordance with the provisions of the Plan. Rollovers into the Plan are not eligible for Company match contributions.
Vesting
Participants are immediately vested in their pretax, Roth 401(k), after-tax, and rollover contributions and any income and appreciation on such contributions. Company contributions are vested on a five-year graded schedule of 20% per year of service with the Company or if the participant attains age 65 as an active employee, becomes disabled or deceased while employed.
Forfeitures
Forfeitures are transferred to a forfeiture account, which is maintained for the benefit of the Plan as a whole and is not attributable to any given participant. The balance of the forfeiture account may be used to pay plan expenses, offset the Company’s obligation to
4


Ameriprise Financial 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2021

fund Company contributions to the plan or restore previously forfeited balances for rehires. At December 31, 2021 and 2020, the forfeiture account totaled $118,230 and $71,848, respectively. Forfeitures used totaled $2,552,483 and $1,539,000 for 2021 and 2020, respectively. Forfeitures generated for the plan years ended December 31, 2021 and 2020 were $2,598,865 and $1,338,402, respectively.
Tax Status
As long as the Plan remains qualified and tax exempt, amounts invested in the Plan through participant and Company contributions and rollovers, as well as any income and appreciation on such amounts, are not subject to federal income tax until distributed to the participant. See Note 8 for additional information on the Plan’s tax status.
Distributions and Withdrawals
If employment ends, participants are eligible to receive a distribution of their vested account balance. Participants (or their beneficiaries) may elect to receive their accounts as a single lump-sum distribution in cash, whole shares of common stock, mutual fund shares held under the self-directed brokerage account, or a combination of cash and shares. Partial payments may be available to participants who meet certain requirements set forth in the Plan document. Terminated participants can defer payments until age 72. Effective July 1, 2021, the Plan will pay out vested balances of $5,000 or less as a lump sum payment within 60 days of termination of employment. Balances of less than $1,000 will be paid directly to the participant and balances of $1,000 to $5,000 will be rolled over to a safe harbor IRA.
Participants may be eligible to request an in-service withdrawal of all or a portion of their vested account balance subject to limitations under the terms of the Plan and certain tax penalties imposed by the Code. Participants may elect to receive their withdrawal in cash, whole shares of common stock, mutual fund shares held under the self-directed brokerage account, or a combination of cash and shares.
Loan Program
Participants may borrow from their fund accounts a minimum of $500 and up to a maximum of the lesser of $50,000 or 50% of their vested account balance. The administrative loan origination fee of $75 per loan is paid by the participant and is deducted from the proceeds of the loan. Loan terms range up to 59 months unless the loan is used towards the purchase of a primary residence in which case the loan terms can range up to 359 months. The loans are secured by the balance in the participant’s account and bear a fixed interest rate of the prime rate as reported in the Wall Street Journal on the 15th of the month before the date the loan is originated. Principal and interest payments are deducted automatically from the participant’s pay each period.
If the participant’s employment with the Company ends for any reason, and their Plan loan is current, the Plan allows the participant to make repayment arrangements with the Plan’s Administrative Delegate before their loan would otherwise default. If so requested, upon the participant’s termination, the participant’s loan will be re-amortized to a monthly repayment schedule.
If the participant’s employment with the Company ends for any reason, and their Plan loan is in default when their employment ends, they have the option to continue to make loan payments or pay off the loan in full within 90 days or the participant may make alternative arrangements for repayment of the loan in order to prevent a default and acceleration due to non-payment, if payroll deduction is no longer available. If the outstanding loan is not paid in full within 90 days from separation from service or an alternative arrangement is not made, the loan will automatically be foreclosed and the amount outstanding will be immediately deducted from the benefit payable to the plan participant from the Plan. The amount deducted will be treated as a distribution to that participant regardless of whether they elected to receive a distribution of their vested Plan account. Unless the outstanding loan amount was previously taxed as a “deemed distribution,” the participant will then be responsible for any income taxes on the amount of the outstanding loan balance and possibly a 10% additional penalty tax that applies to early distributions.
Plan Termination
Although it has not expressed any intent to do so, the Company 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 termination, participants will become 100% vested in their accounts.
2.  Significant Accounting Policies
Basis of Accounting
The accompanying financial statements have been prepared on the accrual basis of accounting.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
5


Ameriprise Financial 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2021

Plan Fees and Expenses
Administrative expenses, which may include recordkeeping, participant servicing, legal fees, trustee fees, loan origination fees, fees incurred within the self-directed brokerage account and investment consulting fees, among other expenses, are paid by Plan participants and recorded as incurred, unless paid by the Company. The Company currently pays a portion of the administrative expenses, including fees of the auditors, legal fees and certain investment managers.
Fees paid to investment managers are paid from the fees associated with the investment options offered by the Plan, unless paid by the Company. In addition, expenses related to the investment of the Plan funds, for example, brokerage commissions, stock transfer or other taxes and charges incurred for the purchase or sale of the funds’ investments, as opposed to administrative expenses, are generally paid by the Plan participants out of the applicable investment. Fees paid out of an investment reduce the return of that investment.
A flat fee of $21 per quarter is charged to participant accounts with a balance of $5,000 or more (including loan balances). It is deducted proportionately from the participant’s investment options on a quarterly basis. The fee is deposited in the dedicated expense account and may be used to pay eligible administrative expenses of the Plan. As permitted under U.S. Securities and Exchange Commission rule 12b-1, mutual funds or share classes are assessed a fee to help cover the costs associated with marketing and selling the fund (“12b-1 fees”). The 12b-1 fees may also be used to cover shareholder servicing expenses. The only 12b-1 fees incurred are on certain self-directed brokerage funds.
Other Income
Other income includes a rebate of a portion of revenue sharing payments made to the Plan from a portion of the 12b-1 fees incurred from certain funds within the self-directed brokerage account. These payments are deposited in the dedicated expense account and may be used to pay eligible administrative expenses of the Plan. Other income is recorded when earned.
Valuation of Investments and Income Recognition
Investments are reported at fair value, with the exception of fully benefit-responsive investment contracts which are reported at contract value. See Note 4 and Note 5 for the Plan’s accounting policies related to the fully benefit-responsive investment contracts and the valuation of investments, respectively.
Purchases and sales of securities are reflected on a trade-date basis. The cost of securities sold is determined using the average cost method. Dividend income is recorded on the ex-dividend date. Interest income is recorded as earned. As required by the Plan, all dividend and interest income is reinvested into the same investment funds in which the dividends and interest arose. Net appreciation (depreciation) includes the Plan’s gains and losses on investments bought and sold as well as the change in fair value of assets.
Participant Loans
Participant loans are measured at their unpaid principal balance plus any accrued but unpaid interest, which is a reasonable estimate of fair value due to restrictions on the transfers of these loans. Interest income on participant loans is recorded when it is earned. 
Withdrawal Payments 
Withdrawal payments are recorded when paid. 
3.  Investments
Investment Elections
A participant may currently elect to invest contributions in any combination of investment funds in increments of 1% and change investment elections for future contributions or transfer existing account balances on any business day the New York Stock Exchange is open. Investment funds may impose redemption restrictions.
Investment Options
A summary of investment options as of December 31, 2021 and 2020 is set forth below.
Mutual Funds
Mutual funds include the Allspring Small Company Growth R6 fund and the John Hancock Disciplined Value Mid Cap Fund R6.
Collective Investment Funds
The Collective Investment Funds include various investment options as follows: VOYA Target Solution Trust Funds, Victory Small Cap Value Collective Fund (75), Boston Partners Large Cap Value Equity CIT (Class D), Wellington Trust NA CIF II Growth 2, Ivy Investments International Core Equity CIT Fund (Class 2), Columbia Trust Balanced Fund (Class I), Columbia Trust Contrarian Core Fund, Columbia Trust Total Return Fund I, BlackRock US Equity Index Fund, BlackRock Russell 2500 Index Fund, BlackRock MSCI ACWI ex-US Index Fund and BlackRock US Debt Index Fund.
6


Ameriprise Financial 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2021

Collective investment funds allow for daily redemptions but may require advance notice in certain circumstances. There were no unfunded commitments for the Collective Investment Funds as of December 31, 2021 and 2020.
Separate Accounts
The Congress Mid Cap Growth Fund is a separate account managed by Congress Asset Management Company. The fund invests at least 80% of its net assets in equity securities of mid-capitalization companies. The remaining 20% of its net assets can be invested in equity securities of small-capitalization and large-capitalization companies.
Ameriprise Financial Stock Fund
The Ameriprise Financial Stock Fund is an Employee Stock Ownership Plan (“ESOP”) that invests primarily in the Company’s common stock, purchased in either the open market or directly from the Company, and in cash or short-term cash equivalents.
Self-Directed Brokerage Account
The Plan’s self-directed brokerage option gives participants the choice to invest in more than 14,000 mutual funds including exchange-traded funds and closed-ended mutual funds. Ameriprise Financial, Inc. was formerly a wholly owned subsidiary of American Express Company (“American Express”). On September 30, 2005, Ameriprise Financial, Inc. spun-off from American Express. As a result, American Express common stock was an investment option as specified by the Plan. Employees had the option to transfer the value of the American Express common stock to another investment in the Plan or transfer it to the self-directed brokerage option. American Express common stock may be held in the self-directed brokerage account on a hold or sell basis only and, with the exception of reinvestment of dividends, new purchases are not allowed.
Income Fund
The Income Fund is a stable value separately managed account which invests primarily in various book value wrap contracts with varying maturities, sizes and yields, offered by insurance companies, banks or financial institutions, which are backed by fixed income securities issued by the U.S. government and its agencies. See Note 4 for a more comprehensive discussion of book value wrap contracts. Ameriprise Trust Company is the investment manager for the Income Fund. The Income Fund also invests in the Columbia Trust Government Money Market Fund (which invests primarily in short-term debt instruments issued by the U.S. government and its agencies) and the MetLife Insurance Stable Value Government Separate Account (which invests primarily in U.S. government and agency bonds and mortgage backed securities issued or guaranteed by the U.S. government). The investment objective of the Income Fund is to preserve principal and income, while maximizing current income. There is no assurance that the Income Fund will meet its objective.
4.  Book Value Wrap Contracts
Book value wrap contracts are fully benefit-responsive and comprised of both an investment and a contractual component. The investment component consists of units of collective investment funds with fixed income strategies and a pooled portfolio of actively managed fixed income securities, referred to as the Covered Assets, which may be owned by the Income Fund or in some cases the third party that underwrites the performance of the Covered Assets for the benefit of the Income Fund. The securities owned by the third party are held in a Separate Account and are not subject to the liabilities of the general account of the third party. The Covered Assets include U.S. government and agency bonds and mortgage backed securities issued or guaranteed by the U.S. government. The Income Fund enters into book value wrap contracts (the contractual component) with third parties, generally insurance companies, banks or financial institutions, to underwrite the performance of the Covered Assets from the risk of adverse interest rate movements. Under these contracts, the third party is obligated to provide sufficient funds to cover participant benefit withdrawals and certain types of investment transfers regardless of the market value of the Covered Assets. While the contracts are designed to protect the Income Fund against interest rate risk, the Income Fund is still exposed to risk if issuers of Covered Assets default on payment of interest or principal or upon the occurrence of certain events, described below, involving the Income Fund, its plan sponsor or its investment manager.
Fully benefit-responsive book value wrap contracts held by a separately managed account created for a defined contribution plan are reported at contract value. Contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive book value wrap contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. Contract value represents the face amount of the contract plus accrued interest at the contract rate.
Certain events may limit the ability of the Income Fund to transact at contract value with the book value wrap contract issuers for participant benefit payments or investment transfers. Possible events include a transfer from the Income Fund in violation of the equity wash required by the book value wrap contracts. An equity wash restriction prohibits money from being moved directly from the Income Fund to the self-directed brokerage account, without first being invested in another investment fund for 90 days. After the 90 days, the assets may be transferred from the other investment fund to the self-directed brokerage account. Other possible events include participant-directed withdrawals that occur due to a plan sponsor-initiated event, such as the implementation of an early
7


Ameriprise Financial 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2021

retirement program or facility closing, of which the book value wrap contract issuer has not been made aware, or a request by the trustee to terminate a contract at market value. While these events are not probable, it is possible that they could occur.
Certain events may allow the book value wrap contract issuer to terminate a book value wrap contract and settle at the market value of the Covered Assets, as opposed to contract value. These events may include the termination of the Plan or the Trust holding the Income Fund assets, the replacement of the trustee of the Income Fund without the consent of the book value wrap contract issuer, a change in the investment guidelines, administration or policies of the Income Fund that may cause a material adverse effect on the book value wrap contract issuer, a breach of the contract terms by a counterparty, a legal or regulatory event such as a ruling by a regulatory agency governing the Income Fund, its investment manager or the book value wrap contract issuer that may cause material adverse effect to a party under the book value wrap contract, or the failure of the Trust to be tax-exempt under the Internal Revenue Code.
5.  Fair Value Measurements
GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; that is, an exit price. The exit price assumes the asset or liability is not exchanged subject to a forced liquidation or distressed sale.
Valuation Hierarchy
The Plan categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by the Plan’s valuation techniques. A level is assigned to each fair value measurement based on the lowest level input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows:
Level 1    Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date.
Level 2    Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities.
Level 3    Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.
The following tables present the balances of assets measured at fair value on a recurring basis:
 December 31, 2021
Level 1Level 2Level 3Total
Investments    
Mutual funds$151,684,651 $— $— $151,684,651 
Ameriprise Financial common shares350,573,724 — — 350,573,724 
Self-directed brokerage account
488,939,210 — — 488,939,210 
Common Stock135,374,532 8,069,310 — 143,443,842 
Collective investment funds measured at net asset value (“NAV”) (1)
1,820,096,776 
Total investments at fair value$1,126,572,117 $8,069,310 $— $2,954,738,203 
 December 31, 2020
Level 1Level 2Level 3Total
Investments    
Mutual funds$123,970,466 $— $— $123,970,466 
Ameriprise Financial common shares242,793,554 — — 242,793,554 
Self-directed brokerage account433,131,248 — — 433,131,248 
Collective investment funds measured at NAV (1)
1,547,786,475 
Separate accounts measured at NAV (1)
118,514,280 
Total investments at fair value$799,895,268 $— $— $2,466,196,023 
(1) Amounts are comprised of investments measured at fair value using NAV (or its equivalent) as a practical expedient and have not been classified within the fair value hierarchy.
Determination of Fair Value
The Plan uses valuation techniques consistent with the market approach to measure the fair value of its assets. The Plan’s market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets. The Plan maximizes the use of observable inputs and minimizes the use of unobservable inputs. All other assets of the Plan are valued using NAV.
8


Ameriprise Financial 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2021

The following is a description of the valuation techniques used to measure fair value and the general classification of these instruments pursuant to the fair value hierarchy.
Investments
Mutual Funds
The fair value of the Allspring Small Company Growth R6 fund and the John Hancock Disciplined Value Mid Cap Fund R6 are determined by the NAV which represents the exit price. The fair value is classified as Level 1 as the funds are traded in active markets and quoted prices are available.
Ameriprise Financial Common Shares
The fair value of Ameriprise Financial, Inc. common shares is determined using quoted prices in active markets and is classified as Level 1.
Self-Directed Brokerage Account
Actively traded money market funds are measured at NAV and classified as Level 1. The fair value of common stock and exchange-traded funds are determined using quoted prices in active markets and are classified as Level 1. The fair value of mutual funds is determined by the NAV which represents the exit price. Mutual funds are classified as Level 1 as they are traded in active markets and quoted prices are available.
Common Stock
The fair value of common stock classified as Level 1 is determined using quoted prices in active markets and the fair value of common stock classified as Level 2 is determined based on a market approach using observable inputs.

Collective Investment Funds
The fair value of collective investment funds is determined by the NAV of the funds. The NAV is used as a practical expedient and represents the exit price for the funds. These funds are excluded from classification in the fair value hierarchy. Collective investment funds are traded in principal-to-principal markets with little publicly released pricing information.
Separate Accounts
The fair value of units in separate accounts is measured at NAV as a practical expedient and represents the exit price. Separate accounts are excluded from classification in the fair value hierarchy.
6.  Transactions with Parties-in-Interest
The Plan allows for transactions with certain parties who may perform services or have fiduciary responsibilities to the Plan. Parties-in-interest include the Company, the trustee of the Plan assets (Wells Fargo Bank, N.A.) and the Plan’s recordkeeper (Alight Solutions). Transactions involving funds managed by the Company, trustee and recordkeeper are considered party-in-interest transactions. These transactions, based on customary and reasonable rates, are not, however, considered prohibited transactions under Section 408(b) of ERISA and the regulations promulgated thereunder.
The Columbia Trust collective funds are maintained by Ameriprise Trust Company, a Minnesota-chartered trust company, and distributed by Columbia Management Investment Distributors, Inc., member FINRA. Ameriprise Trust Company serves as trustee and offers investment management and related services to these collective funds. Columbia Management Investment Advisers, LLC provides investment advice for certain of these funds in a subadvisory capacity. These companies are wholly-owned subsidiaries of Ameriprise Financial, Inc.
The total fair value of Ameriprise Financial, Inc.’s common stock held by plan participants was $350,573,724 and $242,793,554 as of December 31, 2021 and 2020, respectively. The total fair value of the investment options, excluding the self-directed brokerage account, managed by subsidiaries of Ameriprise Financial, Inc. was $431,500,307 and $391,169,470 as of December 31, 2021 and 2020, respectively. As investment manager, these subsidiaries earn annual management fees ranging from 0.26% to 0.41% of the amounts invested in the Collective Investment Funds. Fees incurred for investment management services for the Income Fund, excluding fees associated with wrap contracts which are paid by the Plan, are paid directly by the Company. Fees paid by the Plan for investment management services are included as a reduction of the return earned on each collective investment fund. Participant loans also qualify as party-in-interest transactions and are secured by the vested balances in participant accounts.
See Note 2 for more information on Plan fees and expenses.
7.  Risks and Uncertainties
The Plan invests in various investment securities, which are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investments, it is at least reasonably possible that changes in the values of investment
9


Ameriprise Financial 401(k) Plan
Notes to Financial Statements (continued)
December 31, 2021

securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits. 
The coronavirus disease 2019 (“COVID-19”) pandemic has presented an ongoing significant economic and societal disruption and market unpredictability, which has impacted the market price of the Plan’s assets. While the pandemic has subsided in many areas, a resurgence of the pandemic could result in significant disruption of the global financial markets. Plan management will continue to monitor the impact COVID-19 has on the Plan. Plan management is also monitoring the current volatility in market conditions, general economic factors and the current geopolitical environment.
8.  Income Tax Status
The Plan received a favorable determination letter from the Internal Revenue Service (“IRS”) dated September 7, 2017 indicating that the Plan is qualified under the Code and the Trust established under the Plan is tax-exempt and the Plan satisfies the requirement of Code Section 4975(e)(7). The Plan has been amended after the period covered by the determination letter. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Company believes the Plan, as amended, is currently designed and operated in compliance with the applicable requirements of the Code, and therefore the Plan and the Trust are intended to be qualified and tax-exempt, and the Plan is intended to satisfy the requirements of Code Section 4975(e)(7). The IRS no longer issues determination letters to qualified plans on a five-year cycle to evidence compliance with IRS rules.
There are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the Plan’s financial statements. The Plan is subject to routine audits by tax jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan believes it is no longer subject to income tax examinations for years prior to 2018.
9.  Reconciliation of Financial Statements to Form 5500
The following is a reconciliation of amounts reported in the financial statements to amounts reported on Form 5500:
 December 31,
20212020
Net assets available for benefits per the financial statements
$3,151,352,558 $2,672,155,988 
Deemed distributions of participant loans
(193,799)(248,078)
Difference between contract value and fair value of fully benefit-responsive investment contracts
20,758 3,402,002 
Net assets available for benefits per Form 5500
$3,151,179,517 $2,675,309,912 
 Years Ended December 31,
20212020
Net increase in net assets available for benefits per the financial statements$479,196,570 $345,672,054 
Change in deemed distributions of participant loans
54,279 74,092 
Change in difference between contract value and fair value of fully benefit-responsive investment contracts
(3,381,244)2,923,832 
Net income per Form 5500$475,869,605 $348,669,978 
10.  Subsequent Events
The Company evaluated events or transactions that occurred after the statement of net assets available for benefits date for potential recognition or disclosure through the date the financial statements were issued. The annual fixed match true-up contribution of $5,243,027 for the 2021 plan year, which is recorded as a receivable as of December 31, 2021, was posted to participant accounts on January 21, 2022.
10


Ameriprise Financial 401(k) Plan
SUPPLEMENTAL SCHEDULE

11


Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
 
Mutual Funds —
 
*Allspring Small Company Growth R61,837,937 $84,986,197 
John Hancock Disciplined Value Mid Cap Fund R62,411,369 66,698,454 
 Total Mutual Funds 151,684,651 
 Collective Investment Funds — 
*Columbia Trust Balanced Fund (Class I)4,105,593 97,220,439 
*Columbia Trust Contrarian Core Fund22,254,060 224,320,920 
*Columbia Trust Gov Money Market Fund12,759,991 12,759,991 
*Columbia Trust Total Return Fund I7,653,461 97,198,957 
Boston Partners Large Cap Value Equity CIT (Class D)3,442,194 109,737,151 
Victory Small Cap Value Collective Fund (75)1,907,617 89,231,078 
VOYA Target Solution Trust Income (Class 4)2,793,842 52,088,590 
VOYA Target Solution Trust 2025 (Class 4)2,783,173 66,565,103 
VOYA Target Solution Trust 2030 (Class 4)3,339,899 86,433,244 
VOYA Target Solution Trust 2035 (Class 4)2,951,947 81,438,480 
VOYA Target Solution Trust 2040 (Class 4)2,750,687 81,096,633 
VOYA Target Solution Trust 2045 (Class 4)2,265,991 69,319,917 
VOYA Target Solution Trust 2050 (Class 4)1,405,263 42,959,753 
VOYA Target Solution Trust 2055 (Class 4)873,671 26,807,211 
VOYA Target Solution Trust 2060 (Class 4)631,685 13,805,585 
VOYA Target Solution Trust 2065 (Class 4)149,057 2,037,029 
Ivy Investments International Core Equity CIT Fund (Class 2)6,526,323 127,459,079 
Wellington Trust NA CIF II Growth 26,661,432 198,110,995 
BlackRock US Equity Index Fund6,308,189 261,041,706 
BlackRock Russell 2500 Index Fund948,990 28,602,457 
BlackRock MSCI ACWI ex-US Index Fund1,862,450 28,144,783 
 BlackRock US Debt Index Fund682,736 17,025,307 
*Wells Fargo/BlackRock Short-Term Investment Fund6,692,368 6,692,368 
 Total Collective Investment Funds 1,820,096,776 
Common Stock —  
   Akamai Technologies19,000 2,223,759 
   Asbury Automotive Group Inc20,000 3,454,600 
   Azenta Inc 32,500 3,351,075 
   Booz Allen Hamilton Holding Co25,000 2,119,750 
   Burlington Stores Inc11,000 3,206,610 
   Charles River Laboratories11,000 4,144,580 
   Church & Dwight Inc32,500 3,331,250 
   Ciena Corp Usd 0.0155,000 4,233,350 
   Cintas Corp9,000 3,988,530 
   Cooper Cos Inc Com New7,500 3,142,050 
   Copart Inc Com26,000 3,942,120 
   Diodes Inc40,616 4,460,043 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     12


Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
   Entegris Inc28,000 3,880,240 
   Etsy Inc15,000 3,284,100 
   First Republic Bank/San Francisco17,500 3,613,925 
   Floor & Decor Holdings Inc32,500 4,225,325 
   Generac Holdings Inc9,500 3,343,240 
   Horizon Therapeutics Public Limited Company41,000 4,418,160 
   Huntington Ingalls Industries15,000 2,801,100 
   Idex Corp16,000 3,781,120 
   Keysight Technologies Inc22,500 4,646,475 
   Masco Corp55,000 3,862,100 
   Mccormick & Co Inc Non Voting30,000 2,898,300 
   Mettler-Toledo International Inc3,000 5,091,630 
   Monolithic Pwr Sys Inc8,000 3,946,640 
   Neurocrine Biosciences Inc Com24,500 2,086,665 
   Paycom Software Inc8,000 3,321,520 
   Pool Corporation7,500 4,245,000 
   Qualys Inc20,000 2,744,400 
   Raymond James Financial Inc37,500 3,765,000 
   Resmed Inc14,000 3,646,720 
   Skyworks Solutions Inc16,500 2,559,810 
   Sps Commerce Inc22,600 3,217,110 
   Steris Plc15,000 3,651,150 
   Sun Cmntys Inc Com17,500 3,674,475 
   Take-Two Interactive Software17,500 3,110,100 
   Teledyne Technologies Inc8,000 3,495,120 
   West Pharmaceutical Sercives Inc10,000 4,690,100 
   Williams Sonoma Inc20,000 3,382,600 
   Zebra Technologies Corp C7,500 4,464,000 
Total Common Stock828,216 143,443,842 
 Ameriprise Financial Stock Fund — 
*Ameriprise Financial, Inc. Common Shares1,162,150 350,573,724 
 Total Ameriprise Financial Stock Fund350,573,724 
***Self-Directed Brokerage Account 488,939,210 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     13

Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
 MetLife Insurance Stable Value Government Separate Account138,776 15,728,897 
*Columbia Trust Gov Money Market Fund31,807,747 31,807,747 
 U.S. Government and Agency Securities:
FHLB 2.125% 12/11/20263,525,000 3,653,948 
FHLB 2.375% 03/14/20252,325,000 2,422,515 
FHLB 2.750% 12/13/20242,625,000 2,756,573 
FHLB 5.375% 8/15/20243,250,000 3,618,450 
FHLMC 0.375% 09/23/20253,650,000 3,550,245 
FHLMC REFERENCE NOTE 1.500% 02/12/20255,325,000 5,405,217 
FNMA 0.625% 04/22/20258,675,000 8,554,048 
FNMA 2.625% 09/06/20242,875,000 3,005,817 
FNMA BENCHMARK NOTE 0.500% 11/07/2025175,000 170,622 
U.S. TREASURY NOTE 0.250% 06/15/20249,225,000 9,089,508 
U.S. TREASURY NOTE 0.750% 05/31/202618,550,000 18,176,102 
FGOLD 15YR 3.500% 08/01/202526,057 27,430 
FGOLD 15YR 3.500% 09/01/20254,502 4,740 
FGOLD 15YR 3.500% 10/01/20251,388 1,461 
FGOLD 15YR 4.000% 02/01/20258,835 9,277 
FGOLD 15YR 4.000% 07/01/20254,230 4,445 
FGOLD 15YR 4.000% 08/01/202515,473 16,261 
FGOLD 15YR 3.000% 01/01/202762,461 65,748 
FGOLD 15YR 3.000% 01/01/203295,370 100,355 
FGOLD 15YR 3.000% 01/01/2032122,927 129,380 
FGOLD 15YR 3.000% 01/01/2033156,715 164,786 
FGOLD 15YR 3.000% 02/01/202720,358 21,363 
FGOLD 15YR 3.000% 03/01/2033335,416 352,682 
FGOLD 15YR 3.000% 04/01/2032352,077 370,689 
FGOLD 15YR 3.000% 09/01/202641,031 42,979 
FGOLD 15YR 3.000% 10/01/20261,920 2,011 
FGOLD 15YR 3.000% 10/01/20264,707 4,931 
FGOLD 15YR 3.000% 11/01/20251,122 1,175 
FGOLD 15YR 3.000% 11/01/202630,815 32,287 
FGOLD 15YR 3.000% 12/01/2026113,009 118,606 
FGOLD 15YR 3.500% 01/01/2034440,996 465,890 
FGOLD 15YR 3.500% 02/01/20264,038 4,254 
FGOLD 15YR 3.500% 03/01/20265,155 5,432 
FGOLD 15YR 3.500% 04/01/2033147,476 155,959 
FGOLD 15YR 3.500% 05/01/2026706 744 
FGOLD 15YR 3.500% 05/01/2032175,829 186,084 
FGOLD 15YR 3.500% 06/01/202650,798 53,538 
FGOLD 15YR 3.500% 07/01/202611,251 11,840 
FGOLD 15YR 3.500% 07/01/202673,251 77,206 
FGOLD 15YR 3.500% 08/01/20262,226 2,346 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     14

Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
FGOLD 15YR 3.500% 08/01/202633,387 35,191 
FGOLD 15YR 3.500% 08/01/20269,671 10,194 
FGOLD 15YR 3.500% 09/01/20261,335 1,405 
FGOLD 15YR 3.500% 09/01/20261,773 1,869 
FGOLD 15YR 3.500% 09/01/20264,401 4,637 
FGOLD 15YR 3.500% 10/01/202542,177 44,426 
FGOLD 15YR 3.500% 11/01/202533,292 35,067 
FGOLD 15YR 3.500% 12/01/20256,879 7,245 
FGOLD 15YR 3.500% 12/01/2025104,688 110,312 
FGOLD 15YR 3.500% 12/01/2025132 139 
FGOLD 15YR 3.500% 12/01/20252,955 3,112 
FGOLD 15YR 3.500% 12/01/20259,879 10,407 
FGOLD 15YR 4.000% 05/01/202618,449 19,428 
FGOLD 15YR 4.000% 06/01/2025987 1,037 
FGOLD 15YR 4.000% 06/01/202613,838 14,573 
FGOLD 15YR GIANT 3.000% 01/01/2032394,646 414,881 
FGOLD 15YR GIANT 3.000% 02/01/2031234,978 247,250 
FGOLD 15YR GIANT 3.000% 03/01/2031145,188 152,776 
FGOLD 15YR GIANT 3.000% 03/01/2032663,526 697,905 
FGOLD 15YR GIANT 3.000% 05/01/2031372,941 392,449 
FGOLD 15YR GIANT 3.000% 07/01/2030181,588 191,076 
FGOLD 15YR GIANT 3.000% 09/01/20279,777 10,257 
FGOLD 15YR GIANT 3.000% 09/01/2031230,487 242,831 
FGOLD 15YR GIANT 3.000% 10/01/203084,222 89,134 
FGOLD 15YR GIANT 3.000% 11/01/202699,465 104,169 
FGOLD 15YR GIANT 3.000% 12/01/202636,230 37,941 
FGOLD 15YR GIANT 3.000% 12/01/2030317,397 333,058 
FGOLD 15YR GIANT 3.500% 01/01/202772,981 76,925 
FGOLD 15YR GIANT 3.500% 01/01/2030130,001 137,697 
FGOLD 15YR GIANT 3.500% 02/01/2034133,977 141,632 
FGOLD 15YR GIANT 3.500% 04/01/202612,089 12,731 
FGOLD 15YR GIANT 3.500% 04/01/203059,187 62,661 
FGOLD 15YR GIANT 3.500% 05/01/2033331,129 350,165 
FGOLD 15YR GIANT 3.500% 06/01/202933,801 35,593 
FGOLD 15YR GIANT 3.500% 07/01/20263,068 3,233 
FGOLD 15YR GIANT 3.500% 07/01/2029106,797 113,114 
FGOLD 15YR GIANT 3.500% 07/01/203368,635 72,504 
FGOLD 15YR GIANT 3.500% 08/01/20267,453 7,854 
FGOLD 15YR GIANT 3.500% 08/01/20297,327 7,754 
FGOLD 15YR GIANT 3.500% 08/01/2032382,693 405,149 
FGOLD 15YR GIANT 3.500% 08/01/2033120,079 126,859 
FGOLD 15YR GIANT 3.500% 11/01/202512,955 13,634 
FGOLD 15YR GIANT 3.500% 11/01/2029155,598 164,808 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     15

Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
FGOLD 15YR GIANT 3.500% 12/01/20251,328 1,399 
FGOLD 15YR GIANT 3.500% 12/01/2029178,566 188,157 
FGOLD 15YR GIANT 3.500% 12/01/203393,806 99,169 
FGOLD 15YR GIANT 4.000% 05/01/202523,289 24,464 
FGOLD 15YR GIANT 4.000% 05/01/20262,062 2,165 
FGOLD 15YR GIANT 4.000% 06/01/202668,440 71,884 
FGOLD 15YR GIANT 4.000% 07/01/202636,102 38,032 
FGOLD 15YR GIANT 4.000% 12/01/20251,143 1,204 
FGOLD 15YR GIANT 4.000% 12/01/202611,649 12,231 
FHLMC 15YR UMBS 2.000% 08/01/20351,767,719 1,812,177 
FHLMC 15YR UMBS 2.000% 08/01/20352,001,937 2,052,286 
FHLMC 15YR UMBS 3.000% 12/01/2034418,459 440,259 
FHLMC 15YR UMBS 3.000% 12/01/2034608,810 640,138 
FHLMC 15YR UMBS MIRROR 2.500% 05/01/2033333,797 345,852 
FHLMC 15YR UMBS MIRROR 2.500% 07/01/2032151,367 157,172 
FHLMC 15YR UMBS MIRROR 2.500% 11/01/2032317,815 330,027 
FHLMC 15YR UMBS MIRROR 3.000% 03/01/2031362,817 381,700 
FHLMC 15YR UMBS MIRROR 3.000% 04/01/203495,591 100,377 
FHLMC 15YR UMBS SUPER 2.000% 05/01/2035982,146 1,006,847 
FHLMC 15YR UMBS SUPER 2.000% 06/01/2035424,597 436,366 
FHLMC 15YR UMBS SUPER 2.000% 09/01/20351,500,755 1,538,500 
FHLMC 15YR UMBS SUPER 2.000% 10/01/20351,591,029 1,631,043 
FHLMC 15YR UMBS SUPER 2.500% 08/01/2034516,330 534,835 
FHLMC 15YR UMBS SUPER 2.500% 10/01/203481,953 84,898 
FHLMC 15YR UMBS SUPER 2.500% 12/01/2034381,101 394,814 
FHLMC 15YR UMBS SUPER 3.000% 01/01/2034197,152 206,933 
FHLMC 5/1 HYBRID ARM 1.972% 12/01/2036 VARIABLE19,471 20,435 
FHLMC_K018 2.789% 01/25/202238,118 38,122 
FHLMC_K019 2.272% 03/25/2022390,155 390,332 
FHLMC_K037 2.592% 04/25/2023187,181 189,532 
FHLMC_K039 2.683% 12/25/2023365,907 372,016 
FHLMC_K040 2.768% 04/25/2024376,002 385,500 
FHLMC_K050 2.802% 01/25/2025689,503 707,022 
FHLMC_K736 1.895% 06/25/20251,749,648 1,772,399 
FHLMC_T-13 6.085% 09/25/202937 37 
FGOLD 15YR GIANT 3.000% 09/01/2030156,654 164,834 
FGOLD 15YR GIANT 3.500% 03/01/203028,201 29,873 
FNMA 15YR 3.500% 01/01/202618,962 19,971 
FNMA 15YR 3.500% 01/01/20261,787 1,880 
FNMA 15YR 3.500% 01/01/202620,476 21,559 
FNMA 15YR 3.500% 02/01/202645,670 48,119 
FNMA 15YR 3.500% 03/01/2026126,513 133,305 
FNMA 15YR 3.500% 09/01/202655,954 58,959 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     16

Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
FNMA 15YR 3.500% 10/01/202535,098 36,951 
FNMA 15YR 3.500% 10/01/2025473 498 
FNMA 15YR 3.500% 10/01/2025401 422 
FNMA 15YR 3.500% 10/01/202584,891 89,381 
FNMA 15YR 3.500% 10/01/202559,125 62,288 
FNMA 15YR 3.500% 10/01/202582,377 86,784 
FNMA 15YR 3.500% 11/01/202534,112 35,911 
FNMA 15YR 3.500% 11/01/20254,735 4,984 
FNMA 15YR 3.500% 11/01/20254,320 4,550 
FNMA 15YR 3.500% 12/01/20257,724 8,128 
FNMA 15YR 4.000% 02/01/202597 101 
FNMA 15YR 4.000% 04/01/20254,370 4,589 
FNMA 15YR 4.000% 05/01/202520,355 21,375 
FNMA 15YR 4.000% 06/01/202533,975 35,677 
FNMA 15YR 4.000% 06/01/20252,981 3,131 
FNMA 15YR 4.000% 09/01/202413,569 14,242 
FNMA 15YR 4.500% 02/01/202526,433 27,543 
FNMA 15YR 4.500% 03/01/2023351 364 
FNMA 15YR 4.500% 05/01/2024487 505 
FNMA 15YR 4.500% 10/01/202413,681 14,225 
FNMA 15YR 5.000% 02/01/20231,556 1,603 
FNMA 15YR 5.000% 02/01/202410,518 10,851 
FNMA 15YR 5.000% 05/01/20237,777 8,018 
FNMA 15YR 5.000% 05/01/20236,293 6,484 
FNMA 15YR 5.000% 06/01/20235,711 5,885 
FNMA 15YR 5.000% 11/01/20232,937 3,056 
FNMA 30YR 6.000% 11/01/20286,604 7,239 
FNMA 30YR 6.500% 04/01/20326,679 7,368 
FNMA 30YR 6.500% 04/01/20323,352 3,698 
FNMA 30YR 7.000% 07/01/20283,751 3,764 
FNMA 10/1 HYBRID ARM 1.710% 10/01/2034 VARIABLE1,096 1,128 
FNMA 10/1 HYBRID ARM 2.090% 12/01/2033 VARIABLE780 808 
FNMA 15YR 2.500% 02/01/2033647,348 672,506 
FNMA 15YR 3.000% 01/01/203057,306 60,135 
FNMA 15YR 3.000% 01/01/2031107,452 112,512 
FNMA 15YR 3.000% 01/01/2032231,064 243,066 
FNMA 15YR 3.000% 01/01/2033475,684 500,282 
FNMA 15YR 3.000% 01/01/2034491,025 515,379 
FNMA 15YR 3.000% 02/01/2029231,392 242,759 
FNMA 15YR 3.000% 02/01/2030140,872 147,711 
FNMA 15YR 3.000% 02/01/2031281,895 296,182 
FNMA 15YR 3.000% 02/01/2031237,615 249,820 
FNMA 15YR 3.000% 02/01/2034169,349 177,953 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     17

Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
FNMA 15YR 3.000% 03/01/2031562,697 591,532 
FNMA 15YR 3.000% 03/01/203141,073 43,124 
FNMA 15YR 3.000% 03/01/2033135,746 142,725 
FNMA 15YR 3.000% 04/01/203191,095 95,750 
FNMA 15YR 3.000% 04/01/2031225,776 237,497 
FNMA 15YR 3.000% 04/01/2032153,146 161,140 
FNMA 15YR 3.000% 05/01/2031147,907 155,585 
FNMA 15YR 3.000% 06/01/2030231,405 243,362 
FNMA 15YR 3.000% 06/01/2032109,560 115,282 
FNMA 15YR 3.000% 06/01/2034215,707 226,364 
FNMA 15YR 3.000% 07/01/203031,647 33,286 
FNMA 15YR 3.000% 07/01/2032207,259 217,932 
FNMA 15YR 3.000% 07/01/2032173,742 182,804 
FNMA 15YR 3.000% 09/01/202972,215 76,591 
FNMA 15YR 3.000% 09/01/2031353,016 370,822 
FNMA 15YR 3.000% 09/01/2032913,039 961,715 
FNMA 15YR 3.000% 09/01/2033290,682 305,146 
FNMA 15YR 3.000% 10/01/2030174,853 183,884 
FNMA 15YR 3.000% 10/01/2030171,468 180,221 
FNMA 15YR 3.000% 10/01/2030188,180 197,920 
FNMA 15YR 3.000% 10/01/203178,005 82,063 
FNMA 15YR 3.000% 11/01/2030114,022 119,561 
FNMA 15YR 3.000% 11/01/2031429,245 451,259 
FNMA 15YR 3.000% 11/01/2031230,881 242,878 
FNMA 15YR 3.000% 11/01/2033398,308 418,042 
FNMA 15YR 3.000% 11/01/2033233,518 245,136 
FNMA 15YR 3.500% 01/01/20262,370 2,497 
FNMA 15YR 3.500% 01/01/202637,106 39,090 
FNMA 15YR 3.500% 01/01/202755,824 58,830 
FNMA 15YR 3.500% 01/01/202711,852 12,484 
FNMA 15YR 3.500% 01/01/20293,331 3,526 
FNMA 15YR 3.500% 01/01/2030140,703 148,553 
FNMA 15YR 3.500% 01/01/2034309,903 327,308 
FNMA 15YR 3.500% 02/01/202624,441 25,745 
FNMA 15YR 3.500% 02/01/20266,906 7,275 
FNMA 15YR 3.500% 02/01/202670,068 73,825 
FNMA 15YR 3.500% 02/01/20297,112 7,525 
FNMA 15YR 3.500% 02/01/2029119,212 126,128 
FNMA 15YR 3.500% 02/01/2030110,666 116,970 
FNMA 15YR 3.500% 02/01/2031120,610 127,180 
FNMA 15YR 3.500% 02/01/2032131,634 139,258 
FNMA 15YR 3.500% 02/01/2033246,420 260,701 
FNMA 15YR 3.500% 02/01/2034104,333 110,194 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     18

Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
FNMA 15YR 3.500% 03/01/203261,652 64,896 
FNMA 15YR 3.500% 03/01/203392,212 97,495 
FNMA 15YR 3.500% 04/01/2026375 395 
FNMA 15YR 3.500% 04/01/20267,242 7,629 
FNMA 15YR 3.500% 04/01/202635,229 37,104 
FNMA 15YR 3.500% 04/01/202710,789 11,411 
FNMA 15YR 3.500% 04/01/203037,997 40,232 
FNMA 15YR 3.500% 04/01/203043,206 45,756 
FNMA 15YR 3.500% 04/01/20337,300 7,718 
FNMA 15YR 3.500% 04/01/2034271,947 287,477 
FNMA 15YR 3.500% 05/01/20338,124 8,591 
FNMA 15YR 3.500% 06/01/20261,837 1,935 
FNMA 15YR 3.500% 06/01/202726,262 27,633 
FNMA 15YR 3.500% 06/01/202948,509 51,355 
FNMA 15YR 3.500% 06/01/203088,292 93,547 
FNMA 15YR 3.500% 06/01/2032198,694 210,246 
FNMA 15YR 3.500% 07/01/202978,445 83,037 
FNMA 15YR 3.500% 07/01/2032156,330 165,378 
FNMA 15YR 3.500% 08/01/20261,813 1,910 
FNMA 15YR 3.500% 08/01/202616,281 17,216 
FNMA 15YR 3.500% 08/01/202720,519 21,724 
FNMA 15YR 3.500% 08/01/2029134,567 142,393 
FNMA 15YR 3.500% 08/01/2029182,798 192,421 
FNMA 15YR 3.500% 08/01/2032185,375 195,984 
FNMA 15YR 3.500% 08/01/2032122,878 130,004 
FNMA 15YR 3.500% 08/01/203374,715 79,031 
FNMA 15YR 3.500% 08/01/203374,703 78,853 
FNMA 15YR 3.500% 09/01/20267,403 7,800 
FNMA 15YR 3.500% 09/01/20268,320 8,767 
FNMA 15YR 3.500% 09/01/20289,405 9,901 
FNMA 15YR 3.500% 09/01/2029245,106 259,496 
FNMA 15YR 3.500% 09/01/2029103,916 109,694 
FNMA 15YR 3.500% 09/01/2033500,768 528,027 
FNMA 15YR 3.500% 10/01/2026190,483 200,605 
FNMA 15YR 3.500% 10/01/202613,002 13,682 
FNMA 15YR 3.500% 10/01/202649,283 51,933 
FNMA 15YR 3.500% 10/01/2026474 499 
FNMA 15YR 3.500% 10/01/202854,699 57,874 
FNMA 15YR 3.500% 10/01/202942,583 44,919 
FNMA 15YR 3.500% 11/01/202547,915 50,439 
FNMA 15YR 3.500% 11/01/2026414 441 
FNMA 15YR 3.500% 11/01/2026104,807 110,426 
FNMA 15YR 3.500% 11/01/202881,861 86,654 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     19

Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
FNMA 15YR 3.500% 12/01/20259,605 10,111 
FNMA 15YR 3.500% 12/01/202853,638 56,744 
FNMA 15YR 3.500% 12/01/20288,369 8,860 
FNMA 15YR 3.500% 12/01/202917,593 18,574 
FNMA 15YR 3.500% 12/01/2032260,432 276,231 
FNMA 15YR 4.000% 01/01/202919,800 20,829 
FNMA 15YR 4.000% 01/01/202919,800 20,829 
FNMA 15YR 4.000% 01/01/202919,800 20,829 
FNMA 15YR 4.000% 01/01/202919,800 20,829 
FNMA 15YR 4.000% 07/01/20253,547 3,724 
FNMA 15YR 4.000% 08/01/20263,877 4,071 
FNMA 15YR 4.000% 09/01/20251,126 1,181 
FNMA 15YR 4.000% 11/01/202625,813 27,154 
FNMA 15YR 4.500% 05/01/20245,922 6,159 
FNMA 15YR 5.000% 02/01/20231,604 1,653 
FNMA 15YR 5.000% 04/01/20241,320 1,361 
FNMA 15YR UMBS 2.000% 05/01/20351,324,413 1,361,038 
FNMA 15YR UMBS 2.000% 06/01/20351,066,789 1,093,619 
FNMA 15YR UMBS 2.000% 07/01/20351,221,134 1,251,846 
FNMA 15YR UMBS 2.000% 08/01/20351,614,932 1,655,548 
FNMA 15YR UMBS 2.500% 02/01/2035339,908 352,129 
FNMA 15YR UMBS 2.500% 05/01/20351,243,744 1,286,145 
FNMA 15YR UMBS 2.500% 08/01/2034353,673 365,724 
FNMA 15YR UMBS 2.500% 09/01/2034126,126 130,403 
FNMA 15YR UMBS 2.500% 10/01/2034684,610 707,842 
FNMA 15YR UMBS 2.500% 12/01/2034265,149 274,685 
FNMA 15YR UMBS 3.000% 07/01/2034293,138 306,454 
FNMA 15YR UMBS 3.000% 12/01/2034530,821 556,083 
FNMA 15YR UMBS SUPER 2.000% 07/01/20351,099,293 1,126,941 
FNMA 15YR UMBS SUPER 2.000% 09/01/20351,858,369 1,905,107 
FNMA 15YR UMBS SUPER 2.000% 10/01/20351,979,259 2,029,038 
FNMA 6M LIBOR ARM 1.538% 03/01/2034 VARIABLE15,291 15,599 
FNMA 6M LIBOR ARM 1.540% 11/01/2032 VARIABLE4,917 4,955 
FNMA 6M LIBOR ARM 1.665% 12/01/2032 VARIABLE14,457 14,533 
FNMA 6M LIBOR ARM 1.667% 09/01/2035 VARIABLE24,065 24,680 
FNMA 7/1 HYBRID ARM 1.918% 01/01/2034 VARIABLE6,472 6,505 
FNMA 7/1 HYBRID ARM 1.995% 03/01/2036 VARIABLE3,114 3,231 
FNMA 7/1 HYBRID ARM 2.044% 01/01/2036 VARIABLE643 667 
FNMA MEGA 15YR REMIC-BACKED 3.500% 11/01/202572,551 76,434 
FNMA_03-W11 2.993% 06/25/2033 VARIABLE105 107 
UMBS 15YR TBA (REG B) 2.000% 01/18/203711,600,000 11,882,750 
UMBS 15YR TBA (REG B) 2.500% 01/18/203717,400,000 17,990,648 
FHLMC_K025 2.682% 10/25/2022497,840 504,388 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     20

Ameriprise Financial 401(k) Plan
Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)
December 31, 2021
(a)(b)  Identity of Issue, Borrower, Lessor, or Similar Party(c) Shares/Units or Face Amount(d) Cost**(e) Current Value
FHLMC_K030 3.250% 04/25/2023523,006 536,601 
FHLMC_K032 3.310% 05/25/20232,175,000 2,244,026 
FHLMC_K043 2.532% 10/25/2023145,427 147,829 
FHLMC_K066 2.797% 12/25/2026581,535 606,996 
FHLMC_K092 3.125% 10/25/2028358,664 383,917 
FHLMC_K725 2.666% 05/25/2023191,896 193,137 
Total investment contracts196,985,332 
Wrapper Contracts
American General- 6984923,174 
American United Life - S00031585 
JP Morgan Chase2,829 
Prudential - GA-642931,771 
TRANSAMERICA - MDA00723TR511 
TRANSAMERICA - MDA00724TR3,369 
Total wrapper contracts12,239 
 Total fully benefit-responsive investment contracts196,997,571 
*Loans to Participants  
   Various Loans, 3.25% — 9.95% due through 2051  27,058,208 
 Less: Deemed distributions  (193,799)
 Net participant loans  26,864,409 
      
 Assets Held at End of Year per Form 5500   $3,178,600,183 
*    Indicates Party-in-interest                                       
**    Cost information not required for participant-directed investments
***    The Self-Directed Brokerage Account includes Party-in-interest investment options     21


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Employee Benefits Administration Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
 

AMERIPRISE FINANCIAL, INC.
(Registrant)
Date:June 29, 2022By/s/ Michelle Rudlong
Michelle Rudlong
Delegate
Employee Benefits Administration Committee


22


EXHIBIT INDEX

Exhibit        Description
23.1    Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.

23