Quasi-2-level (Q2L) operation of multi-level bridge-legs, especially of flying-capacitor converters (FCC), is an interesting option for realizing single-cell power conversion in applications whose system voltages exceed the ratings of available power semiconductors. To ensure equal voltage sharing among a Q2L-FCC’s switches, the voltages of a Q2L-FCC’s minimized flying capacitors (FCs) must always be balanced. Thus, we propose a concept for load-independent FC voltage balancing: For non-zero load current, we use a model predictive control (MPC) approach to identify the commutation sequence of the individual switches within a Q2L transition that minimizes the FC or cell voltage errors. In case of zero load current, we employ a novel MPC-based approach using cell multiple switching (CMS), i.e., the insertion of additional zero-current commutations within a Q2L transition, to exchange charge between the FCs via the charging currents of the switches’ parasitic capacitances. Experiments with a 5-level FCC half-bridge demonstrator confirm the validity of the derived models and verify the performance of the proposed load-independent balancing concept.