# EDGAR Filing Document

**Accession Number:** 0000917286
**File Stem:** 0000917286-25-000095
**Filing Date:** 2025-6
**Character Count:** 10828
**Document Hash:** 55b017855638035307d4cd312085eafc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000917286-25-000095.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0000917286-25-000095

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**EFFECTIVENESS DATE**: 20250627

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY HEREFORD STREET TRUST
- **CENTRAL INDEX KEY:** 0000917286

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-52577
- **FILM NUMBER:** 251083548

**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

## Series and Classes Contracts Data

### Fidelity Treasury Digital Fund (Series ID: S000089156)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000255665 | Liquidity Class | FYHXX           |

**Fidelity® Treasury Digital Fund**

**<u>Class</u>**<u>/Ticker</u>

**Liquidity**/FYHXX

**Summary Prospectus**

**June 28, 2025**

Before you invest, you may want to review the fund's prospectus, which contains more information about the fund and its risks. You can find the fund's prospectus, reports to shareholders, and other information about the fund (including the fund's SAI) online at fundresearch.fidelity.com/prospectus/sec. You can also get this information at no cost by calling 1-866-997-1254 or by sending an e-mail request to funddocuments@fmr.com. The fund's prospectus and SAI dated June 28, 2025 are incorporated herein by reference.

![](img109344_1.jpg)

245 Summer Street, Boston, MA 02210

**Fund Summary**

Fund**/Class:**

Fidelity® Treasury Digital Fund**/Liquidity** 

**Investment Objective**

Fidelity® Treasury Digital Fund seeks to obtain as high a level of current income as is consistent with the preservation of capital and liquidity.

**Fee Table**

The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.**

**Shareholder fees**

---

| | |
|:---|:---|
| **(fees paid directly from your investment)** | **None** |

---

**Annual Operating Expenses**

**(expenses that you pay each year as a % of the value of your investment)**

---

| | |
|:---|:---|
| Management fee  | 0.25%  |
| Distribution and/or Service (12b-1) fees |  |
| Other expenses | 0.00% A |
| **Total annual operating expenses** | 0.25%  |
| Fee waiver and/or expense reimbursement | 0.07% B |
| **Total annual operating expenses after fee waiver and/or expense reimbursement** | 0.18%  |

---

ABased on estimated amounts for the current fiscal year.

BFidelity Management & Research Company LLC (FMR) has contractually agreed to reimburse Liquidity class of the fund to the extent that total operating expenses (excluding interest, certain taxes, fees and expenses of the Independent Trustees, proxy and shareholder meeting expenses, extraordinary expenses, and acquired fund fees and expenses (including fees and expenses associated with a wholly owned subsidiary), if any, as well as non-operating expenses such as brokerage commissions and fees and expenses associated with the fund's securities lending program, if applicable), as a percentage of its average net assets, exceed 0.18% (the Expense Cap). If at any time during the current fiscal year expenses for Liquidity class of the fund fall below the Expense Cap, FMR reserves the right to recoup through the end of the fiscal year any expenses that were reimbursed during the current fiscal year up to, but not in excess of, the Expense Cap. This arrangement will remain in effect through August 31, 2027. FMR may not terminate this arrangement before the expiration date without the approval of the Board of Trustees and may extend it in its discretion after that date.

This **example** helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

---

| | |
|:---|:---|
| 1 year | $18 |
| 3 years | $63 |

---

**Principal Investment Strategies**

* Normally investing at least 99.5% of total assets in cash and U.S. Treasury securities.

* Normally investing in securities whose interest is exempt from state and local income taxes.

* Investing in compliance with industry-standard regulatory requirements for money market funds for the quality, maturity, liquidity, and diversification of investments.

In addition, the fund normally invests at least 80% of its assets in U.S. Treasury securities.

Treasury securities are high-quality securities issued or guaranteed by the U.S. Treasury. Treasury securities are backed by the full faith and credit of the U.S. Treasury. Treasury securities usually pay a fixed, variable, or floating rate of interest, and must repay the amount borrowed, usually at the maturity of the security.

**Principal Investment Risks**

* *Interest Rate Changes.*

Interest rate increases can cause the price of a money market security to decrease.

* *Income Risk.*

A low or negative interest rate environment can adversely affect the fund's yield.

* *Issuer-Specific Changes.*

A decline in the credit quality of an issuer can cause the price of a money market security to decrease.

* *U.S. Treasury Obligations.*

U.S. Treasury obligations are high-quality securities issued or guaranteed by the U.S. Treasury providing minimal risk of loss of principal if held to maturity. Fluctuations in interest rates may cause the market value of such securities to vary.

*You could lose money by investing in the fund*. *Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so*. *An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency*. *Fidelity Investments and its affiliates, the fund's sponsor, is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress.*

*The fund will not impose a fee upon the sale of your shares.*

**Performance**

Performance history will be available for the fund after the fund has been in operation for one calendar year.

**Investment Adviser**

Fidelity Management & Research Company LLC (FMR) (the Adviser) is the fund's manager. Other investment advisers serve as sub-advisers for the fund.

**Purchase and Sale of Shares**

Shares are offered to certain banks, trust institutions and other institutional investors investing for their own accounts or for accounts of their customers. Although the fund does not currently employ blockchain technology or invest in crypto assets, fund shares are expected to be used primarily by participants in the broader blockchain ecosystem, and fund shares are expected to be purchased and held primarily through intermediaries that use blockchain technology to maintain a record of share ownership for their customers.

The fund may offer additional share classes in the future that employ blockchain technology to maintain a record of share ownership.

You may buy or sell shares in various ways. Email FDAMIR@fmr.com for more information.

**Internet**

**institutional.fidelity.com**

**Phone**

**To reach a Fidelity representative 1-877-297-2952**

**Mail**

---

| | |
|:---|:---|
| <br> **Fidelity Investments**<br> **P.O. Box 770002**<br> **Cincinnati, OH 45277-0081** | ***Overnight Express:***<br> **Fidelity Investments**<br> **100 Crosby Parkway**<br> **Covington, KY 41015** |

---

The price to buy one share is its net asset value per share (NAV). Shares will be bought at the NAV next calculated after an order is received in proper form.

The price to sell one share is its NAV. Shares will be sold at the NAV next calculated after an order is received in proper form.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Even if the NYSE is closed, the fund will be open for business on those days on which the Federal Reserve Bank of New York (New York Fed) is open, the primary trading markets for the fund's portfolio instruments are open, and the fund's management believes there is an adequate market to meet purchase and redemption requests.

Liquidity class shares have a minimum initial investment of $1,000,000. The fund may waive or lower purchase minimums.

**Tax Information**

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

**Payments to Broker-Dealers and Other Financial Intermediaries**

The fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their affiliates may pay intermediaries, which may include banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with the Adviser or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

Fidelity Distributors Company LLC (FDC) is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at 202-371-8300.

Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2025 FMR LLC. All rights reserved.

1.9917096.102 TDL-SUM-0625