| Form 1-K Issuer Information | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 1-K | OMB APPROVAL |
| OMB Number: 3235-0720 Estimated average burden hours per response: 600.0 |
1-K: Filer Information
| Issuer CIK | 0001803986 |
| Issuer CCC | XXXXXXXX |
| Is filer a shell company? |  Yes  No |
| Is the electronic copy of an official filing submitted in paper format? |  |
| File Number | 24R-00380 |
| Is this filing by a successor company pursuant to Rule 257(b)(5) resulting from a merger or other business combination? | Yes No |
| Successor File Number |
| Is this a LIVE or TEST Filing? | LIVE TEST |
| Would you like a Return Copy? | |
| Period | 12-31-2020 |
| Name | |
| Phone | |
| E-Mail Address |
| Notify via Filing Website only? | |
1-K: Tab 1 Notification
| This Form 1-K is to provide an | Annual Report Special Financial Report for the fiscal year |
| Fiscal Year End | 12-31-2020 |
| Exact name of issuer as specified in the issuer's charter | FUNDRISE BALANCED EREIT II, LLC |
| CIK | 0001804011 |
| Jurisdiction of Incorporation / Organization | DELAWARE |
| I.R.S. Employer Identification Number | 84-4465115 |
| Address 1 | 11 DUPONT CIRCLE NW |
| Address 2 | 9TH FL |
| City | WASHINGTON |
| State/Country | DISTRICT OF COLUMBIA |
| Mailing Zip/ Postal Code | 20036 |
| Phone | 202-584-0550 |
| Title of each class of securities issued pursuant to Regulation A | Common Shares |