Updated Customer Agreements

Important updates to the Fidelity Account®, the Fidelity® Retirement Account ("IRA"), the Fidelity® Cash Management Account, and the Fidelity® Health Savings Account ("HSA").

We are modifying the Customer Agreements for the accounts listed herein, as well as the Fidelity Cash Management Account FDIC Insured Deposit Sweep Disclosure Document and the FDIC Insured Deposit Sweep Program Disclosure for Fidelity IRAs and HSAs (where applicable) for the following types of Fidelity brokerage accounts:

  • The Fidelity Account
    (This includes all non-retirement brokerage accounts such as Individual, Joint, Estate, Conservatorship/Guardianship, Custodial [UGMA/UTMA], Trust, and Non-Trust Accounts like Business accounts and Stock Plan Services accounts)
  • Fidelity Retirement Accounts
    (This includes Traditional IRAs, Rollover IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs, Inherited IRA, and Keogh accounts)
  • Fidelity Cash Management Accounts
  • Fidelity Health Savings Accounts

You can review the revised documentation using the links below.  There is NO ACTION REQUIRED on your part unless you disagree with the changes.  

The primary changes to the agreements and disclosure documents listed above are related to the introduction of the "Money Market Mutual Fund Overflow" component to the FDIC Insured Deposit Sweep program (the "Program"), which becomes effective on or around June 30, 2022.

This component provides that, for customers who utilize the Program as your core position, in the event that your cash balances cannot be swept to a Program Bank (as defined in the Program's disclosure documents) due to either a lack of bank capacity or unavailability of FDIC insurance, your funds will instead be swept to the Fidelity Government Money Market Fund* – Class S (FZSXX) (the "MMKT Overflow Fund"). Once your funds are placed in the MMKT Overflow Fund, these funds will be the first funds that are used to settle any debits to your account.

The Money Market Overflow is referenced in the Customer Agreement sections titled "Core Account" and "How Transactions Are Settled."  In addition, in the applicable FDIC Insured Deposit Sweep disclosures, we have included a new section titled "Money Market Mutual Fund Overflow".  This section more fully describes the enhancement, and events for when customer funds may be swept into the Money Market Mutual Fund Overflow.

There are other changes beyond those described above, so you should review the documents carefully.

Your continued use of your account(s) after the effective date noted above will constitute your acknowledgement to having received and reviewed and your consent to the changes made to the customer agreement(s) and disclosure document(s).

 If you have any questions about these changes, or don’t agree with them, please call us at 800-343-3548.

The Fidelity Account

Fidelity Brokerage Retirement Account

Fidelity® Cash Management Account

Fidelity Brokerage Health Savings Account

Fidelity Account Non-Prototype Retirement Account Customer Agreement