# EDGAR Filing Document

**Accession Number:** 0000823535
**File Stem:** 0000823535-26-000323
**Filing Date:** 2026-5
**Character Count:** 16815
**Document Hash:** f3975b426048dc321f9684dee5c8daa5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000823535-26-000323.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0000823535-26-000323

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**EFFECTIVENESS DATE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Variable Insurance Products Fund V
- **CENTRAL INDEX KEY:** 0000823535

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-17704
- **FILM NUMBER:** 26984154

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY BOSTON STREET TRUST
- **DATE OF NAME CHANGE:** 19951101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SPARTAN U S TREASURY MONEY MARKET FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY U S TREASURY MONEY MARKET FUND L P
- **DATE OF NAME CHANGE:** 19900828

## Series and Classes Contracts Data

### Freedom 2030 Portfolio (Series ID: S000017649)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000048777 |
| Service Class   | C000048778 |
| Service Class 2 | C000048779 |

---

### Freedom Retirement Portfolio (Series ID: S000017650)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000048780 |
| Service Class   | C000048781 |
| Service Class 2 | C000048782 |

---

### Freedom Lifetime Income I Portfolio (Series ID: S000017651)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048783 |

---

### Freedom Lifetime Income II Portfolio (Series ID: S000017652)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048784 |

---

### Freedom Lifetime Income III Portfolio (Series ID: S000017653)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048785 |

---

### Investor Freedom 2010 Portfolio (Series ID: S000017660)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048803 |

---

### Investor Freedom 2015 Portfolio (Series ID: S000017661)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048804 |

---

### Investor Freedom 2020 Portfolio (Series ID: S000017662)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048805 |

---

### Investor Freedom 2025 Portfolio (Series ID: S000017663)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048806 |

---

### Investor Freedom 2030 Portfolio (Series ID: S000017664)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048807 |

---

### Investor Freedom Retirement Portfolio (Series ID: S000017665)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000048808 |

---

### Freedom 2010 Portfolio (Series ID: S000017670)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000048824 |
| Service Class   | C000048825 |
| Service Class 2 | C000048826 |

---

### Freedom 2015 Portfolio (Series ID: S000017671)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000048827 |
| Service Class   | C000048828 |
| Service Class 2 | C000048829 |

---

### Freedom 2020 Portfolio (Series ID: S000017672)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000048830 |
| Service Class   | C000048831 |
| Service Class 2 | C000048832 |

---

### Freedom 2025 Portfolio (Series ID: S000017673)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000048833 |
| Service Class   | C000048834 |
| Service Class 2 | C000048835 |

---

### Freedom 2035 Portfolio (Series ID: S000025268)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000075274 |
| Service Class   | C000075275 |
| Service Class 2 | C000075276 |

---

### Freedom 2040 Portfolio (Series ID: S000025269)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000075277 |
| Service Class   | C000075278 |
| Service Class 2 | C000075279 |

---

### Freedom 2045 Portfolio (Series ID: S000025270)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000075280 |
| Service Class   | C000075281 |
| Service Class 2 | C000075282 |

---

### Freedom 2050 Portfolio (Series ID: S000025271)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000075283 |
| Service Class   | C000075284 |
| Service Class 2 | C000075285 |

---

### Freedom 2055 Portfolio (Series ID: S000065217)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Service Class 2 | C000211073 |
| Service Class   | C000211074 |
| Initial Class   | C000211075 |

---

### Freedom 2060 Portfolio (Series ID: S000065218)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Service Class   | C000211076 |
| Service Class 2 | C000211077 |
| Initial Class   | C000211078 |

---

### Freedom 2065 Portfolio (Series ID: S000065219)

---

|  |  |
|:---|:---|
| Class Name      | Class ID   |
| Initial Class   | C000211079 |
| Service Class   | C000211080 |
| Service Class 2 | C000211081 |

---

### Investor Freedom 2035 Portfolio (Series ID: S000076747)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000236782 |

---

### Investor Freedom 2040 Portfolio (Series ID: S000076748)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000236783 |

---

### Investor Freedom 2045 Portfolio (Series ID: S000076749)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000236784 |

---

### Investor Freedom 2050 Portfolio (Series ID: S000076750)

---

|  |  |
|:---|:---|
| Class Name     | Class ID   |
| Investor Class | C000236785 |

---

### Freedom 2070 Portfolio (Series ID: S000085434)

---

|  |  |  |
|:---|:---|:---|
| Class Name      | Ticker Symbol | Class ID   |
| Service Class   | FRDGV         | C000250595 |
| Initial Class   | FRDFV         | C000250596 |
| Service Class 2 | FRDHV         | C000250597 |

---

## Series and Classes Contracts Data

### Freedom 2030 Portfolio (Series ID: S000017649)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000048777 | Initial Class   |  |
| C000048778 | Service Class   |  |
| C000048779 | Service Class 2 |  |

### Freedom Retirement Portfolio (Series ID: S000017650)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000048780 | Initial Class   |  |
| C000048781 | Service Class   |  |
| C000048782 | Service Class 2 |  |

### Freedom Lifetime Income I Portfolio (Series ID: S000017651)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048783 | Investor Class |  |

### Freedom Lifetime Income II Portfolio (Series ID: S000017652)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048784 | Investor Class |  |

### Freedom Lifetime Income III Portfolio (Series ID: S000017653)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048785 | Investor Class |  |

### Investor Freedom 2010 Portfolio (Series ID: S000017660)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048803 | Investor Class |  |

### Investor Freedom 2015 Portfolio (Series ID: S000017661)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048804 | Investor Class |  |

### Investor Freedom 2020 Portfolio (Series ID: S000017662)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048805 | Investor Class |  |

### Investor Freedom 2025 Portfolio (Series ID: S000017663)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048806 | Investor Class |  |

### Investor Freedom 2030 Portfolio (Series ID: S000017664)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048807 | Investor Class |  |

### Investor Freedom Retirement Portfolio (Series ID: S000017665)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000048808 | Investor Class |  |

### Freedom 2010 Portfolio (Series ID: S000017670)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000048824 | Initial Class   |  |
| C000048825 | Service Class   |  |
| C000048826 | Service Class 2 |  |

### Freedom 2015 Portfolio (Series ID: S000017671)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000048827 | Initial Class   |  |
| C000048828 | Service Class   |  |
| C000048829 | Service Class 2 |  |

### Freedom 2020 Portfolio (Series ID: S000017672)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000048830 | Initial Class   |  |
| C000048831 | Service Class   |  |
| C000048832 | Service Class 2 |  |

### Freedom 2025 Portfolio (Series ID: S000017673)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000048833 | Initial Class   |  |
| C000048834 | Service Class   |  |
| C000048835 | Service Class 2 |  |

### Freedom 2035 Portfolio (Series ID: S000025268)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000075274 | Initial Class   |  |
| C000075275 | Service Class   |  |
| C000075276 | Service Class 2 |  |

### Freedom 2040 Portfolio (Series ID: S000025269)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000075277 | Initial Class   |  |
| C000075278 | Service Class   |  |
| C000075279 | Service Class 2 |  |

### Freedom 2045 Portfolio (Series ID: S000025270)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000075280 | Initial Class   |  |
| C000075281 | Service Class   |  |
| C000075282 | Service Class 2 |  |

### Freedom 2050 Portfolio (Series ID: S000025271)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000075283 | Initial Class   |  |
| C000075284 | Service Class   |  |
| C000075285 | Service Class 2 |  |

### Freedom 2055 Portfolio (Series ID: S000065217)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000211073 | Service Class 2 |  |
| C000211074 | Service Class   |  |
| C000211075 | Initial Class   |  |

### Freedom 2060 Portfolio (Series ID: S000065218)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000211076 | Service Class   |  |
| C000211077 | Service Class 2 |  |
| C000211078 | Initial Class   |  |

### Freedom 2065 Portfolio (Series ID: S000065219)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000211079 | Initial Class   |  |
| C000211080 | Service Class   |  |
| C000211081 | Service Class 2 |  |

### Investor Freedom 2035 Portfolio (Series ID: S000076747)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000236782 | Investor Class |  |

### Investor Freedom 2040 Portfolio (Series ID: S000076748)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000236783 | Investor Class |  |

### Investor Freedom 2045 Portfolio (Series ID: S000076749)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000236784 | Investor Class |  |

### Investor Freedom 2050 Portfolio (Series ID: S000076750)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000236785 | Investor Class |  |

### Freedom 2070 Portfolio (Series ID: S000085434)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000250595 | Service Class   | FRDGV           |
| C000250596 | Initial Class   | FRDFV           |
| C000250597 | Service Class 2 | FRDHV           |

**Supplement to the Fidelity® Variable Insurance Products Investor Freedom® Funds April 30, 2026 Prospectus**

The Board of Trustees of VIP Investor Freedom Retirement Portfolio℠, VIP Investor Freedom 2010 Portfolio℠, VIP Investor Freedom 2015 Portfolio℠, VIP Investor Freedom 2020 Portfolio℠, VIP Investor Freedom 2025 Portfolio℠, VIP Investor Freedom 2030 Portfolio℠, VIP Investor Freedom 2035 Portfolio℠, VIP Investor Freedom 2040 Portfolio℠, VIP Investor Freedom 2045 Portfolio℠, and VIP Investor Freedom 2050 Portfolio℠ (the funds) has approved, subject to shareholder approval, a new pricing structure for the funds that will reduce the overall expenses that the funds' shareholders pay, relative to the funds' expenses as of December 31, 2025, and provide for less fluctuation in fund expenses. Under the new structure, each fund will charge shareholders for all of its operating expenses directly. If approved by shareholders, each of the funds will transition their holdings to the Fidelity Series Funds that charge no management fees. A meeting of shareholders of each fund will be held on October 14, 2026, to vote on this proposal. Shareholders of record on August 17, 2026, are entitled to vote at the meeting.

*The foregoing is not a solicitation of any proxy. For a free copy of the proxy statement containing important information relating to the proposal please contact Fidelity at 1-877-208-0098. The proxy statement is expected to be available on or about August 14, 2026, and will be available on the Securities and Exchange Commission's web site (www.sec.gov).*

VIPIFF-PSTK-0526-114 1.828376.114 May 15, 2026

**Supplement to the Fidelity® Variable Insurance Products Freedom Lifetime Income I Portfolio, Freedom Lifetime Income II Portfolio, and Freedom Lifetime Income III Portfolio April 30, 2026 Prospectus**

The Board of Trustees of VIP Freedom Lifetime Income® I Portfolio, VIP Freedom Lifetime Income® II Portfolio, and VIP Freedom Lifetime Income® III Portfolio (the funds) has approved, subject to shareholder approval, a new pricing structure for the funds that will reduce the overall expenses that the funds' shareholders pay, relative to the funds' expenses as of December 31, 2025, and provide for less fluctuation in fund expenses. Under the new structure, each fund will charge shareholders for all of its operating expenses directly. If approved by shareholders, each of the funds will transition their holdings to the Fidelity Series Funds that charge no management fees. A meeting of shareholders of each fund will be held on October 14, 2026, to vote on this proposal. Shareholders of record on August 17, 2026, are entitled to vote at the meeting.

*The foregoing is not a solicitation of any proxy. For a free copy of the proxy statement containing important information relating to the proposal please contact Fidelity at 1-877-208-0098. The proxy statement is expected to be available on or about August 14, 2026, and will be available on the Securities and Exchange Commission's web site (www.sec.gov).*

VIPFLI-PSTK-0526-110 1.832271.110 May 15, 2026

**Supplement to the Fidelity® Variable Insurance Products Freedom Funds Initial Class, Service Class, and Service Class 2 April 30, 2026 Prospectus**

The Board of Trustees of VIP Freedom Retirement Portfolio℠, VIP Freedom 2010 Portfolio℠, VIP Freedom 2015 Portfolio℠, VIP Freedom 2020 Portfolio℠, VIP Freedom 2025 Portfolio℠, VIP Freedom 2030 Portfolio℠, VIP Freedom 2035 Portfolio℠, VIP Freedom 2040 Portfolio℠, VIP Freedom 2045 Portfolio℠, VIP Freedom 2050 Portfolio℠, VIP Freedom 2055 Portfolio℠, VIP Freedom 2060 Portfolio℠, VIP Freedom 2065 Portfolio℠, and VIP Freedom 2070 Portfolio℠ (the funds) has approved, subject to shareholder approval, a new pricing structure for the funds that will reduce the overall expenses that the funds' shareholders pay, relative to the funds' expenses as of December 31, 2025, and provide for less fluctuation in fund expenses. Under the new structure, each fund will charge shareholders for all of its operating expenses directly. If approved by shareholders, each of the funds will transition their holdings to the Fidelity Series Funds that charge no management fees. A meeting of shareholders of each fund will be held on October 14, 2026, to vote on this proposal. Shareholders of record on August 17, 2026, are entitled to vote at the meeting.

*The foregoing is not a solicitation of any proxy. For a free copy of the proxy statement containing important information relating to the proposal please contact Fidelity at 1-877-208-0098. The proxy statement is expected to be available on or about August 14, 2026, and will be available on the Securities and Exchange Commission's web site (www.sec.gov).*

VIPFF2K-PSTK-0526-114 1.828420.114 May 15, 2026