If you are a U.S. tax nonresident and your Fidelity cash is in the FDIC program‑bank sweep with no U.S.‑business connection, you owe no federal withholding tax and file no annual IRS form just for that interest—you give Fidelity Form W‑8BEN instead.

871(i)(1)–(2)(A)

No tax shall be imposed under paragraph (1)(A) or (1)(C) of subsection (a) on any amount described in paragraph (2). Interest on deposits, if such interest is not effectively connected with the conduct of a trade or business within the United States.

1.1441-1(b)(4)(ii)

Bank deposit interest and similar types of deposit interest (including original issue discount) described in section 871(i)(2)(A) or 881(d) that are from sources within the United States are exempt from withholding under section 1441(a). See section 1441(c)(10). Documentation establishing foreign status is not required for purposes of this withholding exemption but may have to be furnished for purposes of the information reporting provisions of section 6049 and backup withholding under section 3406.

pages 3–4, Giving Form W-8BEN; Expiration; Change in circumstances

Do not send Form W-8BEN to the IRS. Instead, give it to the person who is requesting it from you. Generally, a Form W-8BEN will remain in effect for purposes of establishing foreign status for a period starting on the date the form is signed and ending on the last day of the third succeeding calendar year, unless a change in circumstances makes any information on the form incorrect. If a change in circumstances makes any information on the Form W-8BEN you have submitted incorrect, you must notify the withholding agent, payer, or FFI with which you hold an account within 30 days of the change in circumstances and you must file a new Form W-8BEN or other appropriate form.

pages 7–8 and 19, Filing Requirements; Simplified Procedure; Line 2b

You must also file Form 1040-NR if you are a nonresident alien not engaged in a trade or business in the United States during 2025 and you have U.S. source income that is not effectively connected with the conduct of a U.S. trade or business on which the tax was not fully satisfied by the withholding of tax at the source. Don’t include on line 2b interest from a U.S. bank, savings and loan association, credit union, or similar institution (or from certain deposits with U.S. insurance companies) that is exempt from tax under a tax treaty or under section 871(i) because the interest isn’t effectively connected with a U.S. trade or business. You’re filing Form 1040-NR solely to claim a refund of U.S. tax withheld at the source under chapter 3 or tax withheld under chapter 4 (FATCA).

Cash Management Account details and FAQs

The Fidelity Cash Management Account is not a bank account. It is a brokerage account that allows you to spend, save, and invest. The FDIC-insured Deposit Sweep program option sweeps your uninvested cash into an FDIC-insured interest-bearing account at one or more program banks.

871(k)(1)(A), (C)(i)

Except as provided in subparagraph (B), no tax shall be imposed under paragraph (1)(A) of subsection (a) on any interest-related dividend received from a regulated investment company which meets the requirements of section 852(a) for the taxable year with respect to which the dividend is paid. Except as provided in clause (ii), an interest related dividend is any dividend, or part thereof, which is reported by the company as an interest related dividend in written statements furnished to its shareholders.

FDAP income; Effectively Connected Income

FDAP income is taxed at a flat 30 percent (or lower treaty rate, if qualify) and no deductions are allowed against such income. Effectively Connected Income should be reported on page one of Form 1040-NR, U.S. Nonresident Alien Income Tax Return.

page 1

Give this form to the withholding agent or payer. Note: Persons submitting this form must file an annual U.S. income tax return to report income claimed to be effectively connected with a U.S. trade or business.

Determining tax residency; What an ITIN is used for

An ITIN is issued by the IRS for federal tax purposes only. Nonresident alien – If you don’t meet either the green card or substantial presence test for resident alien status.

Amounts Subject to Reporting on Form 1042-S—Interest on deposits paid to certain nonresident aliens

Withholding agents must report certain interest described in section 871(i)(2)(A) aggregating $10 or more paid with respect to a deposit maintained at an office within the United States if such interest is paid to a nonresident alien individual who is a resident of a country identified in Rev. Proc. 2024-42, 2024-52 I.R.B. 1433, available at IRS.gov/irb/2024-52_IRB (or any superseding revenue procedure that is effective as of January 1, 2026). A payer may elect to report interest described above paid to any nonresident alien individual by reporting all such interest. When completing Form 1042-S, use income code 29 in box 1 and exemption code 02 in box 3a for chapter 3 purposes, and the applicable chapter 4 exemption code in box 4a (see the instructions for boxes 3a and 4a, later).

page 77, Answers to Frequently Asked Questions

If you are an employee and you receive wages subject to U.S. income tax withholding, you must generally file by the 15th day of the 4th month after your tax year ends. If you file for the 2025 calendar year, your return is due April 15, 2026. If you are not an employee who receives wages subject to U.S. income tax withholding, you must file by the 15th day of the 6th month after your tax year ends. For the 2025 calendar year, file your return by June 15, 2026.