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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

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

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Ameriprise Financial 401(k) Plan

Financial Statements and Supplemental Schedule

December 31, 2010 and 2009
with Report of Independent Registered Public Accounting Firm

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Ameriprise Financial 401(k) Plan

Form 11-K

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Report of Independent Registered Public Accounting Firm

The Employee Benefits Administration Committee
Ameriprise Financial, Inc.

We have audited the accompanying statements of net assets available for benefits of the Ameriprise Financial 401(k) Plan as of December 31, 2010 and 2009, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2010 and 2009, and the changes in its net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.

Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2010, is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.

Minneapolis, Minnesota
June 23, 2011

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Ameriprise Financial 401(k) Plan
Statements of Net Assets Available for Benefits

See Notes to Financial Statements.

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Ameriprise Financial 401(k) Plan
Statements of Changes in Net Assets Available for Benefits

See Notes to Financial Statements.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements

December 31, 2010

1.  Description of the Plan

General

The Ameriprise Financial 401(k) Plan (the “Plan”), which became effective October 1, 2005, is a defined contribution pension plan. Under the terms of the Plan, 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 the pay period they complete 60 days of service.

On April 30, 2010, the Company acquired the long-term asset management business of Columbia Management from Bank of America. The service of former Columbia Management, Columbia Wanger Asset Management, LLC (“Columbia Wanger”) and Bank of America employees who joined the Company in connection with the transaction is recognized for eligibility and vesting under the Plan.

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.

Administration of Plan Assets

The Plan’s trustee and recordkeeper is Wells Fargo Bank, N.A. The Plan is administered by the Company’s Employee Benefits Administration Committee (“EBAC”). The Company’s 401(k) Investment Committee selects the investment options offered to participants under the Plan. Members of the EBAC and 401(k) Investment Committee are determined based upon job title as specified in the Plan.

Plan Fees and Expenses

Fees, commissions, and other charges and expenses that are attributable to administering the Plan are paid from the related trust (the “Trust”), unless paid by the Company. The Company currently pays a portion of the cost of administering the Plan, including fees of the auditors, counsel, certain investment managers and investment consulting.

The majority of the cost of administering the Plan, including fees of the trustee, recordkeeper, and investment managers, are paid from the fees associated with the investment options offered under the Plan. In addition, expenses related to 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, are generally paid out of the applicable fund. Fees paid out of a fund reduce the return of that fund. The participant pays for fees and expenses of the Self-Managed Brokerage Account (“SMBA”) and administrative loan origination fees.

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 401(k) contributions to plans, which are qualified under Code Section 401(k), and other specified tax favored plans. This limit per the Code was $16,500 for employees under age 50 and $22,000 for employees age 50 and older for both 2010 and 2009. The Plan complied with nondiscrimination requirements under the Code for both 2010 and 2009.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

1.  Description of the Plan (continued)

Fixed Match Contributions

Effective March 1, 2010, 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 annual period. Prior to March 1, 2010, the Company matched 100% of the first 3% of base pay an employee contributed on a pretax and/or Roth 401(k) basis each pay period. At the end of each year, the Company completes a Fixed Match True-Up to ensure  the fixed match contribution provided by the Company is equal to the lower of the 5% of eligible compensation or the participants’ annual deferral rate average. Total Fixed Match contributions for the plan years ended December 31, 2010 and 2009 were $31,545,077, net of forfeitures of $1,441,000, and $17,993,998, respectively.

Variable Match Contributions

Effective March 1, 2010, the Company no longer makes a Variable Match contribution. Prior to March 1, 2010, the Company could choose to make an annual discretionary Variable Match contribution of 0% to 200% of participants’ Fixed Match contributions. Variable Match contributions were based primarily on Company performance and were determined at the sole discretion of the Board of Directors of the Company. In February 2010, the Company made total Variable Match contributions of $210,908, net of forfeitures of $1,638,528, for the plan year ended 2009.

For 2009, the Variable Match contribution was limited to former H&R Block Financial Advisors, Inc. (“HRBFA”) (subsequently renamed Ameriprise Advisor Services, Inc. (“AASI”)) employees, at the rate of 66% of Fixed Match contributions received, based on contractual agreement.

Company Stock Contributions

Prior to May 2009, the Company contributed 1% of biweekly eligible compensation, regardless of whether the eligible employee contributed to the Plan. This contribution was invested in the Ameriprise Financial Stock Fund. However, participants were allowed to immediately transfer their balance among the other investment options. Total Company Stock contributions for the plan year ended December 31, 2009 were $2,518,190.

Limit on Contributions

For purposes of the Plan, eligible compensation is a participant’s regular cash compensation up to $245,000 for both 2010 and 2009, before tax deductions and certain other withholdings. Effective March 1, 2010, eligible compensation for all employees was enhanced to include performance related cash bonuses, overtime, commissions and certain other amounts in addition to base pay.

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 any Company contributions. Former employees of businesses acquired by the Company, were given the option to rollover their account balances and outstanding loans directly into the Plan.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

1.  Description of the Plan (continued)

Vesting

Participants are immediately vested in their pretax, Roth 401(k), after-tax, and rollover contributions and income and appreciation on the foregoing. Company contributions are vested on a five-year graded schedule of 20% per year of service with the Company or if the participant retires at or after age 65, becomes disabled or dies. Profit Sharing contributions, which were replaced with Variable Match contributions effective January 1, 2007, and income and appreciation thereon, are fully vested after five years of service, upon retiring at or after attaining age 65, upon becoming disabled or at death. Company contributions not vested at the time of termination of employment are forfeited and used to reduce future Company contributions. Forfeitures for the plan years ended December 31, 2010 and 2009 were $1,820,701 and $1,658,567, respectively.

Tax Deferrals

As long as the Plan remains qualified and the Trust remains tax exempt, amounts invested in the Plan through participant and Company contributions and rollovers, as well as the income and appreciation on such amounts, are not subject to federal income tax until distributed to the participant.

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 Ameriprise Financial, Inc. common shares, mutual funds shares held under the SMBA, or a combination of cash and shares. Termed participants can defer payments until age 70 ½.

Active 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.

Loan Program

The EBAC has the power to establish, interpret and administer a uniform and nondiscriminatory loan program which the trustee must observe in making loans, if any, to active participants. Such individuals shall be eligible for loans pursuant to such uniform and nondiscriminatory loan program. Such loan program shall be evidenced by a written document separate from the Plan and Trust.

Participants may borrow from their fund accounts a minimum of $500 up to a maximum of the lesser of $50,000 or 50% of their 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 or up to 359 months if the loan is used towards the purchase of a primary residence. 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 first business day of the month before the date the loan is originated. Principal and interest payments will be deducted automatically from the participant’s pay each period. If the participant’s service with the Company ends for any reason, the entire principal and interest of any outstanding loan will be due and payable within 45 days. A loan will be considered in default if payments are not received by the Plan within 90 days following the date payment is due under the note. Loans not repaid within that timeframe will be reported as taxable distributions.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

2.  Significant Accounting Policies

Basis of Accounting

The accompanying financial statements have been prepared on the accrual basis of accounting. Certain prior year balances have been reclassified to conform to the current year presentation.

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.

Valuation of Investments and Income Recognition

Investments are reported at fair value. See Note 6 for information on the Plan’s accounting policies related to valuation of investments. Defined contribution plans are required to report fully benefit-responsive investment contracts at contract value and also report fair value; therefore, a reconciliation of fair value to contract value is presented on the Statements of Net Assets Available for Benefits.

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 includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

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.

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.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

3.  Recent Accounting Pronouncements

Fair Value

In May 2011, the Financial Accounting Standards Board (“FASB”) updated the accounting standards related to fair value measurement and disclosure requirements. The standard requires entities, for assets and liabilities measured at fair value in the statement of financial position which are Level 3 fair value measurements, to disclose quantitative information about unobservable inputs and assumptions used in the measurements, a description of the valuation processes in place, and a qualitative discussion about the sensitivity of the measurements to changes in unobservable inputs and interrelationships between those inputs if a change in those inputs would result in a significantly different fair value measurement. In addition, the standard requires disclosure of fair value by level within the fair value hierarchy for each class of assets and liabilities not measured at fair value in the statement of financial position but for which the fair value is disclosed. The standard is effective for interim and annual periods beginning on or after December 15, 2011. The adoption of the standard is not expected to have a material impact on the Statements of Net Assets Available for Benefits and Statements of Changes in Net Assets Available for Benefits.

Reporting Loans to Participants by Defined Contribution Pension Plans

In September 2010, the FASB updated the accounting standards related to participant loans. The standard requires participant loans to be measured at their unpaid principal balance plus any accrued but unpaid interest and to be classified as notes receivable from participants. Previously, participant loans were measured at fair value and classified as investments. The standard is effective for plan years ending after December 15, 2010. The Plan adopted the standard in the fourth quarter of 2010. Participant loans have been reclassified to receivables as of December 31, 2010 and 2009.

Fair Value

In January 2010, the FASB updated the accounting standards related to disclosures on fair value measurements. The standard expands the current disclosure requirements to include additional detail about significant transfers between Levels 1 and 2 within the fair value hierarchy and to present activity in the rollforward of Level 3 activity on a gross basis. The standard also clarifies existing disclosure requirements related to the level of disaggregation to be used for assets and liabilities as well as disclosures on the inputs and valuation techniques used to measure fair value. The standard is effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosure requirements related to the Level 3 rollforward, which are effective for interim and annual periods beginning after December 15, 2010. The Plan adopted the standard in 2010, except for the additional disclosures related to the Level 3 rollforward, which the Plan will adopt in 2011. The adoption of the standard did not impact the Statements of Net Assets Available for Benefits and Statements of Changes in Net Assets Available for Benefits.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

4.  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, with the exception of the SMBA. The SMBA has a minimum initial transfer of $3,000 and additional increments of at least $500. Future contributions cannot be made directly to the SMBA. There are no restrictions on participant redemptions on any of the investment funds.

Investment Options

A summary of investment options at December 31, 2010 is set forth below:

Mutual Funds — “Columbia and RiverSource® Funds” — Columbia Diversified Bond Fund, RiverSource Balanced Fund, Columbia Retirement Plus 2010 — 2045 Funds, Columbia Mid Cap Value Fund, Columbia Diversified Equity Income Fund and Columbia Large Core Quantitative Fund — are mutual funds offered to the general public. Each of the funds is managed by Columbia Management Investment Advisers, LLC (formerly RiverSource Investments, LLC), a wholly-owned subsidiary of the Company. James Small Cap Fund is managed by James Investment Research. Alger Small Cap Growth Institutional Fund is managed by Alger Group.

Collective Investment Funds — RiverSource Trust Equity Index Fund III is a collective fund, managed by Ameriprise Trust Company. Wellington Trust Mid Cap Growth Portfolio and Wellington Trust Large Cap Growth Portfolio are managed by Wellington Management Company LLP. AllianceBernstein International Style Blend Collective Fund is managed by AllianceBernstein LP.

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-Managed Brokerage Account — The SMBA gives participants the freedom to invest in a wide variety of mutual funds in addition to the other aforementioned investment options. Participants are provided over 800 mutual funds from which to choose. American Express Company common stock is held in the SMBA on a hold or sell basis only and new purchases are not allowed.

Income Fund — Invests primarily in various book value wrap contracts, directly or indirectly, offered by insurance companies and banks, backed by fixed income securities issued by the U.S. government and its agencies. See Note 5 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 RiverSource Trust U.S. Government Securities Fund I (which invests primarily in short-term debt instruments issued by the U.S. government and its agencies), the RiverSource Trust Government Income Fund (which invests primarily in U.S. Treasury, agency and mortgage backed securities) and the RiverSource Trust Stable Capital Fund I (which invests primarily in a diversified pool of U.S. Treasury, agency and mortgage backed securities together with book value wrap contracts of varying maturity, sizes and yields). The goal of these funds is to maximize current income consistent with the preservation of principal.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

4.  Investments (continued)

At December 31, 2010 and 2009, investments with a fair value representing 5% or more of the Plan’s net assets available for benefits were as follows:

5.  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 collective investment funds and a pooled portfolio of actively managed fixed income securities owned by the Income Fund, referred to as the Covered Assets. The Income Fund enters into wrapper agreements (the contractual component) with third-parties, generally insurance companies or banks, to protect the Covered Assets from adverse interest rate movements. Under the agreements, the third-party is obligated to provide sufficient funds to cover participant benefit withdrawals and investment transfers regardless of the market value of the Covered Assets. While the agreements protect the Income Fund against interest rate risk, the Income Fund is still exposed to default risk if issuers of Covered Assets default on payment of interest or principal.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

5.  Book Value Wrap Contracts (continued)

Fully benefit-responsive investment contracts held by a defined contribution plan are required to be reported at fair value. However, 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 investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. Therefore, the Statements of Net Assets Available for Benefits presents the fair value of the book value wrap contracts as well as the adjustment of the book value wrap contracts from fair value to contract value. The Statements of Changes in Net Assets Available for Benefits is prepared on a contract value basis. 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 wrapper contract issuers for participant benefit payments or investment transfers. One possible event would be a request by the Company to terminate or partially terminate the Plan. Another possible event would be a request by the trustee to terminate a contract at market value. Neither of these events is probable.

Certain events may allow the wrapper contract issuer to terminate a book value wrap contract and settle at an amount different from contract value. Such events are not probable but 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 wrapper provider, a breach of the contract terms by a counterparty, or a legal or regulatory event such as an adverse ruling by a regulatory agency.

The crediting rate of a book value wrap contract is the rate at which the Income Fund will recognize income on Covered Assets. The rate is tied to the performance and duration of the Covered Assets and is generally reset quarterly. The weighted average crediting rates on the book value wrap contracts were 4.00% and 3.94% at December 31, 2010, and 2009, respectively. The average yield on the book value wrap contracts was 4.61% and 4.89% for 2010 and 2009, respectively.

6.  Fair Values of Assets

U.S. 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:

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

6.  Fair Values of Assets (continued)

Determination of Fair Value

The Plan uses valuation techniques consistent with the market and income approaches 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’s income approach uses valuation techniques to convert future projected cash flows to a single discounted present value amount. When applying either approach, the Plan maximizes the use of observable inputs and minimizes the use of unobservable inputs.

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.

Assets

Mutual Funds

The fair value of mutual funds is determined by the net asset value (“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.

Collective Investment Funds

The fair value of collective investment funds is determined by the NAV which represents the exit price. Collective investment funds are classified as Level 2 as they are traded in principal-to-principal markets with little publicly released pricing information.

Ameriprise Financial Stock Fund

The fair value of the Ameriprise Financial Stock Fund is determined using quoted prices in active markets for Ameriprise Financial, Inc. common shares and is classified as Level 1. Actively traded money market funds are measured at their NAV and classified as Level 1.

Self-Managed Brokerage Account

The fair value of common stock is determined using quoted prices in active markets and is 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.

Income Fund

The fair value of fixed income securities is obtained from nationally-recognized pricing services, broker quotes, or other model-based valuation techniques such as the present value of cash flows. Fixed income securities classified as Level 1 include U.S. Treasuries and those classified as Level 2 include agency mortgage backed securities, commercial mortgage backed securities, and U.S. government and agency securities. The fair value of wrapper agreements is based on the present value of future fee payments attributable to each wrapper. Wrapper agreements are classified as Level 3 as there are significant unobservable inputs.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

6.  Fair Values of Assets (continued)

The following tables present the balances of assets measured at fair value on a recurring basis:

(1) Includes both equity and debt securities.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

6.  Fair Values of Assets (continued)

(1) Includes both equity and debt securities.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

6.  Fair Values of Assets (continued)

The following tables provide a summary of changes in Level 3 assets measured at fair value on a recurring basis:

(1) Included in net realized/unrealized appreciation in the Statements of Changes in Net Assets Available for Benefits.

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 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.

8.  Income Tax Status

The Plan has received a favorable determination letter from the Internal Revenue Service dated December 11, 2007 to the effect 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) as an ESOP. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Company believes the Plan is operated in compliance with the applicable requirements of the Code, and therefore believes the Plan is qualified and the Trust is tax exempt and the Plan satisfies the requirements of Code Section 4975(e)(7). There are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the 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 is no longer subject to income tax examinations for years prior to 2007.

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Ameriprise Financial 401(k) Plan

Notes to Financial Statements (continued)
December 31, 2010

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.

10.  Subsequent Events

The Company evaluated events or transactions that may have occurred after the statement of net assets available for benefits date for potential recognition or disclosure through the date the financial statements were issued.

Effective January 10, 2011, the self-directed brokerage option available in the Plan is the Schwab Personal Choice Retirement Account (“PCRA”). Participants can choose from thousands of mutual fund products (including Columbia Funds). It also provides the ability to invest in exchange-traded funds and closed-end mutual funds. The trustee for the PCRA is Charles Schwab Trust Company.

As part of the Columbia Fund Mergers, effective April 2011, the RiverSource Balanced Fund was merged into the Columbia Balanced Fund.

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Ameriprise Financial 401(k) Plan

SUPPLEMENTAL SCHEDULE

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Ameriprise Financial 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year)

December 31, 2010

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Ameriprise Financial 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)

December 31, 2010

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Ameriprise Financial 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)

December 31, 2010

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Ameriprise Financial 401(k) Plan

Schedule H, Line 4i — Schedule of Assets (Held at End of Year) (continued)

December 31, 2010