Yes, permanent residents can open most Fidelity accounts, but you will need a Social Security number or ITIN and proof of U.S. residency

Fidelity does not restrict accounts based on citizenship status. A permanent resident (green card holder) can open brokerage accounts, retirement accounts, and other investment products at Fidelity the same way a U.S. citizen can. The key requirement is having a valid tax identification number and being able to verify your U.S. address.

The account opening process is identical to what a citizen would complete. You will provide your Social Security number or Individual Taxpayer Identification Number (ITIN), your current U.S. address, and employment information. Fidelity will verify this information against its identity verification system. If you have a green card and an ITIN, you meet the baseline requirements.

Some account types have additional rules that explore to all account holders regardless of citizenship. For example, certain investment products may have income thresholds or account minimum balances. These restrictions are not specific to permanent residents — they explore equally to citizens.

Key Takeaways

  • Permanent residents can open brokerage accounts, IRAs, and other Fidelity accounts without citizenship.
  • You will need either a Social Security number or an ITIN to complete account verification.
  • Fidelity requires proof of a current U.S. address, which you can provide through a driver's license, passport, or utility bill.
  • Some account types have income or balance requirements that explore to all account holders, not just permanent residents.
  • Tax filing status and residency rules for retirement accounts depend on IRS rules, not Fidelity policy.

What identification documents you will need

Fidelity's account opening system requires two pieces of information: a tax identification number and proof of identity and address. For permanent residents, this typically means your ITIN or Social Security number, plus one of the following documents: a U.S. driver's license, state ID card, U.S. passport, or a recent utility bill showing your name and current address.

If you have a Social Security number, use that instead of an ITIN. Fidelity's system will ask for it during the online process. If you do not have a Social Security number but have an ITIN, enter that in the same field. The system accepts both.

Your address must be a current U.S. address. If you recently moved, update your address with your state ID or driver's license issuer before opening the account, or use a utility bill with your new address as proof. Fidelity will not open an account with a foreign address, even for permanent residents.

How tax withholding works for permanent residents

Permanent residents are treated as U.S. residents for tax purposes if they meet the substantial presence test or have made an election to be treated as a resident. This affects how Fidelity reports your investment income and how much tax is withheld from dividends and interest.

When you open a Fidelity account, you will complete a W-9 form (for U.S. residents and citizens) or a W-8BEN form (for nonresident aliens). Most permanent residents complete a W-9, which tells Fidelity not to withhold tax on your investment income. Fidelity will report your earnings to the IRS on a 1099 form, and you will pay tax when you file your return.

If you are not yet considered a U.S. resident for tax purposes, you may need to complete a W-8BEN instead. This is rare for green card holders, but it can happen if you have not yet met the substantial presence test. Fidelity's account opening system will ask you to confirm your tax residency status. If you are unsure, contact the IRS or a tax professional before opening the account.

Retirement accounts and permanent resident status

Permanent residents can open and contribute to traditional IRAs and Roth IRAs at Fidelity, subject to the same contribution limits and income rules that explore to all account holders. For 2024, the contribution limit is $7,000 per year (or $8,000 if you are age 50 or older), regardless of citizenship or residency status.

To contribute to a Roth IRA, your modified adjusted gross income must fall below a certain threshold. These thresholds are the same for permanent residents and citizens. For a traditional IRA, there is no income limit on contributions, but the deductibility of your contribution depends on whether you or your spouse have access to a workplace retirement plan.

Employer-sponsored plans like 401(k)s are also open to permanent residents. Your employer's plan documents will specify who can participate, but most plans do not restrict based on citizenship. If your employer offers a 401(k), you can enroll the same way a citizen employee would.

SEP IRAs and Solo 401(k)s for self-employed permanent residents

If you are self-employed or own a business, you can open a SEP IRA or Solo 401(k) at Fidelity as a permanent resident. These accounts are available to anyone with self-employment income, regardless of citizenship status. The contribution limits and rules are the same as for citizens.

A SEP IRA allows you to contribute up to 25% of your net self-employment income, with a maximum of $69,000 per year (2024 limit). A Solo 401(k) allows both employee and employer contributions, with a higher total limit. Both require you to have a tax identification number and file self-employment taxes.

When you open either account at Fidelity, you will need to provide your business structure (sole proprietorship, LLC, S-corp, or C-corp) and your Employer Identification Number (EIN) or Social Security number. Fidelity will verify this information before opening the account.

Brokerage accounts and investment restrictions

Permanent residents can open a standard brokerage account at Fidelity with no restrictions based on residency status. You can buy stocks, bonds, mutual funds, and exchange-traded funds (ETFs) the same way a citizen can. There are no citizenship or residency requirements for these investments.

Some investment products do have restrictions, but these explore to all account holders. For example, certain mutual funds may have minimum investment amounts, or some products may only be available to accounts with a minimum balance. These are not permanent-resident-specific rules.

If you plan to trade options or use margin (borrowed money to invest), Fidelity will evaluate your process based on your investment experience and financial situation, not your residency status. The approval process is the same for permanent residents and citizens.

What happens if you lose permanent resident status

If your green card is revoked or you voluntarily surrender it, you do not automatically lose your Fidelity account. Your existing accounts will remain open and you can continue to trade and manage them. However, your tax withholding status may change.

If you are no longer a U.S. resident for tax purposes, you may need to update your W-9 to a W-8BEN form. This will change how Fidelity reports your income and may trigger backup withholding on future earnings. Contact Fidelity's customer service to update your tax residency status if your situation changes.

If you become a U.S. citizen, no action is required on your Fidelity account. Your account will continue to work exactly as it did before, and your tax treatment will not change.

Frequently Asked Questions

Do I need a Social Security number to open a Fidelity account as a permanent resident?

No. You can use an ITIN (Individual Taxpayer Identification Number) instead. Fidelity accepts both Social Security numbers and ITINs during account opening. If you have a Social Security number, use that, as it is simpler for tax reporting purposes.

Can I open a Fidelity account if I am outside the United States right now?

Fidelity requires a current U.S. address to open an account. If you are temporarily abroad but maintain a U.S. address (such as a family member's home or a mailing address), you can use that. If you have no U.S. address, you will need to establish one before opening an account.

Will Fidelity report my account to my home country's tax authorities?

Fidelity reports U.S. investment income to the IRS on your behalf. Whether your home country taxes that income depends on your home country's tax laws and your tax residency status there. This is a tax question, not a Fidelity policy question — consult a tax professional if you are unsure about your obligations in your home country.

Can I open a joint account with someone who is not a permanent resident?

Yes. Fidelity allows joint accounts where one account holder is a permanent resident and the other is a citizen, nonresident alien, or another permanent resident. Each account holder must provide their own tax identification number and proof of identity. The account opening process will ask for information about both parties.

What if Fidelity asks for additional documentation during account opening?

Fidelity may request additional documents if your identity cannot be verified through its standard system. This can happen to any account applicant, regardless of citizenship. Common requests include a copy of your green card, passport, or a notarized statement of residency. Respond to Fidelity's request within the timeframe they provide, usually 10 business days.