Liquidation: BlackRock Funds II

Form Type: 497

Filing Date: 2025-06-13

Corporate Action: Liquidation

Type: New

Accession Number: 000119312525140861

Filing Summary: On May 20, 2025, the Board of Trustees of BlackRock Funds II approved the closure of the BlackRock Retirement Income 2040 Fund to new and subsequent investments, followed by its liquidation. Effective July 11, 2025, at 4:00 p.m. Eastern time, the Fund will no longer accept purchase orders from new or existing shareholders. The Liquidation Date is set for July 18, 2025, at which point all assets of the Fund will be liquidated, and shares will be redeemed at net asset value. Shareholders retain the option to redeem Fund shares or exchange them into another mutual fund advised by BlackRock Advisors, LLC or its affiliates until the Liquidation Date. The Fund may alter its investment strategies leading up to the liquidation. Shareholders are advised to consult tax advisers regarding the tax implications of the liquidation and any exchanges with other funds.

Form Type: 497K

Filing Date: 2025-06-13

Corporate Action: Liquidation

Type: New

Accession Number: 000119312525140866

Filing Summary: On May 20, 2025, the Board of Trustees of BlackRock Funds II approved a proposal to close the BlackRock Retirement Income 2040 Fund to new and subsequent investments and liquidate the Fund. Effective at 4:00 p.m. (Eastern time) on July 11, 2025, the Fund will not accept orders from new or existing shareholders to purchase shares. The complete liquidation of the Fund's assets will occur on or about July 18, 2025, when shares of any shareholders holding them will be redeemed at the net asset value per share. The Fund will then be terminated as a series of the Trust. Shareholders can redeem their shares or exchange them for shares in another mutual fund managed by BlackRock Advisors, LLC or its affiliates up until the Liquidation Date. There may be deviation from the Fund's investment objective and principal strategies prior to liquidation. Shareholders are advised to consult tax professionals regarding potential tax implications of the liquidation and any exchanges.