# EDGAR Filing Document

**Accession Number:** 0000823535
**File Stem:** 0000823535-26-000326
**Filing Date:** 2026-5
**Character Count:** 2843
**Document Hash:** 675ce82b25921741ad52566b7f897eee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000823535-26-000326.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0000823535-26-000326

**CONFORMED SUBMISSION TYPE**: 497K

**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:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-17704
- **FILM NUMBER:** 26984267

**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 2020 Portfolio (Series ID: S000017672)

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

**Supplement to the Fidelity® Variable Insurance Products Freedom 2020 Portfolio Initial Class, Service Class, and Service Class 2 April 30, 2026 Summary Prospectus**

The Board of Trustees of VIP Freedom 2020 Portfolio℠ (the fund) has approved, subject to shareholder approval, a new pricing structure for the fund that will reduce the overall expenses that the fund's shareholders pay, relative to the fund's expenses as of December 31, 2025, and provide for less fluctuation in fund expenses. Under the new structure, the fund will charge shareholders for all of its operating expenses directly. If approved by shareholders, the fund will transition its holdings to the Fidelity Series Funds that charge no management fees. A meeting of shareholders of the 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).*

VIPF2020-SUSTK-0526-101 1.9859676.101 May 15, 2026