UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number   811-04085

Fidelity Income Fund

 (Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210

 (Address of principal executive offices)       (Zip code)

Margaret Carey, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)

Registrant's telephone number, including area code:

617-563-7000

Date of fiscal year end:	July 31
Date of reporting period:	July 31, 2024

Item 1.

Reports to Stockholders

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2035 Fund℠

Fidelity Managed Retirement 2035 Fund℠ Class K :  FMRZX 

This annual shareholder report contains information about Fidelity Managed Retirement 2035 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K	$ 40	0.38%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

December 15, 2022 through July 31, 2024.

Initial investment of $10,000.

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K	10.58%	11.60%
Fidelity Managed Retirement 2035 Composite Index	10.39%	11.33%
S&P 500® Index	24.56%	26.43%
Bloomberg U.S. Aggregate Bond Index	5.10%	2.86%

A   From December 15, 2022

 

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$10,439,772
Number of Holdings	32
Total Advisory Fee	$16,710
Portfolio Turnover	60%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	8.4
Fidelity Series Government Bond Index Fund	8.2
Fidelity Series Investment Grade Bond Fund	8.0
Fidelity Series Large Cap Value Index Fund	7.4
Fidelity Series Emerging Markets Opportunities Fund	7.3
Fidelity Series Blue Chip Growth Fund	6.2
Fidelity Series Corporate Bond Fund	5.3
Fidelity Series Investment Grade Securitized Fund	5.2
Fidelity Series Long-Term Treasury Bond Index Fund	4.8
Fidelity Series International Growth Fund	4.1
	64.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913578.100    7307-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2020 Fund℠

Fidelity Advisor Managed Retirement 2020 Fund℠ Class I :  FIIVX 

This annual shareholder report contains information about Fidelity Managed Retirement 2020 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$ 49	0.47%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class I	8.65%	4.67%	5.08%
Fidelity Managed Retirement 2020 Composite Index℠	8.80%	4.75%	5.47%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$8,371,922
Number of Holdings	33
Total Advisory Fee	$38,515
Portfolio Turnover	32%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	11.5
Fidelity Series Investment Grade Bond Fund	11.2
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	11.1
Fidelity Series Corporate Bond Fund	7.5
Fidelity Series Investment Grade Securitized Fund	7.3
Fidelity Series Emerging Markets Opportunities Fund	5.9
Fidelity Series Large Cap Value Index Fund	4.8
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Blue Chip Growth Fund	3.9
	71.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913502.100    2000-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024	This report describes changes to the Fund that occurred during the reporting period.
Fidelity® GNMA Fund Fidelity® GNMA Fund :  FGMNX

This annual shareholder report contains information about Fidelity® GNMA Fund for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity® GNMA Fund	$ 46	0.45%

What affected the Fund's performance this period?

• •U.S. taxable investment-grade bonds achieved a solid gain for the 12 months ending July 31, 2024. The period was marked by high levels of volatility, as investors anxiously awaited the arrival of interest-rate reductions by the U.S. Federal Reserve.
• •Against this backdrop, positioning in GNMA securities was the primary contributor to the fund's performance versus the benchmark, the Bloomberg GNMA Index, for the fiscal year. This relative gain was led by a timely overweight established last fall after GNMA securities suffered sharp selloffs in September and October. The bond class then rebounded through the end of 2023. 
• •Picks among GNMAs, particularly overweights to securities with coupons 3% and below and 5% and above, also boosted the fund's relative performance.  
• •The fund's non-benchmark exposure to 15- and 20-year Fannie Mae/Freddie Mac mortgage-backed securities provided another performance lift. 
• •Overweights to MBS made up of reverse mortgages (including home equity conversion mortgages insured by the Federal Housing Administration) added value as well.  
• •An overweight to government-agency securities made up of commercial mortgages was another notable contributor. These CMBS were among the mortgage market's best performers the past 12 months. 
• •In contrast, the biggest detractor from relative performance was an untimely decision to reduce exposure to securities with coupons 5% and above in the fall of 2023. 

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity® GNMA Fund	5.17%	-0.19%	1.07%
Bloomberg GNMA Index	4.67%	-0.25%	1.13%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$2,053,126,666
Number of Holdings	2,223
Total Advisory Fee	$6,162,344
Portfolio Turnover	781%

What did the Fund invest in?
(as of July 31, 2024)

COUPON DISTRIBUTION (% of Fund's net assets)
0.01 - 0.99%	0.0
1 - 1.99%	1.6
2 - 2.99%	43.6
3 - 3.99%	36.0
4 - 4.99%	19.1
5 - 5.99%	12.2
6 - 6.99%	10.6
7 - 7.99%	0.0
8 - 8.99%	0.0
9 - 9.99%	0.0

ASSET ALLOCATION (% of Fund's net assets)

Short-Term Investments and Net Other Assets (Liabilities) - (23.1)%

TOP HOLDINGS (% of Fund's net assets)
Ginnie Mae II Pool	67.0
Ginnie Mae I Pool	28.3
US Treasury Notes	7.0
Ginnie Mae REMIC pass-thru certificates	6.9
Fannie Mae Mortgage pass-thru certificates	4.3
Freddie Mac Gold Pool	2.7
Freddie Mac Multifamily Structured Pass Through Certificates	2.6
Ginnie Mae Mortgage pass-thru certificates	2.0
Fannie Mae Guaranteed REMICS	1.7
US Treasury Bonds	1.4
	123.9

How has the Fund changed?

This is a summary of certain changes to the Fund since August 1, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available by September 28, 2024 at fundresearch.fidelity.com/prospectus/sec or upon request at 1-800-544-8544  or by sending an e-mail to fidfunddocuments@fidelity.com.

   

The fund's contractural management fee was reduced during the reporting period.  

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913382.100    15-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Simplicity RMD Income Fund℠

Fidelity Simplicity RMD Income Fund℠ :  FIRNX 

This annual shareholder report contains information about Fidelity Simplicity RMD Income Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Simplicity RMD Income Fund℠	$ 48	0.46%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within U.S. equities, non-U.S. equities and U.S. investment-grade bonds.

•Within U.S. equities, an investment in Fidelity® Series Opportunistic Insights Fund (+33.24%) added relative value, given the fund topped the 21.07% advance of its benchmark, the Russell 3000® Index. Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. 

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Conversely, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Simplicity RMD Income Fund℠	7.32%	3.03%	3.56%
Fidelity Simplicity RMD Income Composite Index℠	7.39%	2.99%	3.79%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$29,144,265
Number of Holdings	33
Total Advisory Fee	$143,976
Portfolio Turnover	20%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Investment Grade Bond Fund	43.1
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.9
Fidelity Series Emerging Markets Opportunities Fund	4.5
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Long-Term Treasury Bond Index Fund	2.7
Fidelity Series International Growth Fund	2.0
Fidelity Series International Value Fund	1.9
Fidelity Series Overseas Fund	1.9
Fidelity Series Growth Company Fund	1.7
Fidelity Series International Small Cap Fund	1.5
	83.1

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913485.100    1888-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2030 Fund℠

Fidelity Managed Retirement 2030 Fund℠ Class K :  FMREX 

This annual shareholder report contains information about Fidelity Managed Retirement 2030 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K	$ 41	0.39%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 16, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K	10.01%	6.17%
Fidelity Managed Retirement 2030 Composite Index℠	9.94%	5.99%
Bloomberg U.S. Aggregate Bond Index	5.10%	-0.27%

A   From August 16, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$42,605,634
Number of Holdings	33
Total Advisory Fee	$175,975
Portfolio Turnover	40%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	9.2
Fidelity Series Investment Grade Bond Fund	9.0
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	7.7
Fidelity Series Emerging Markets Opportunities Fund	6.8
Fidelity Series Large Cap Value Index Fund	6.7
Fidelity Series Corporate Bond Fund	5.9
Fidelity Series Investment Grade Securitized Fund	5.8
Fidelity Series Blue Chip Growth Fund	5.6
Fidelity Series Long-Term Treasury Bond Index Fund	4.3
Fidelity Series International Developed Markets Bond Index Fund	4.0
	65.0

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913559.100    4501-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2015 Fund℠

Fidelity Advisor Managed Retirement 2015 Fund℠ Class A :  FARSX 

This annual shareholder report contains information about Fidelity Managed Retirement 2015 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$ 74	0.71%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000 and the current sales charge was paid.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class A (incl. 5.75% sales charge)	1.51%	2.48%	3.71%
Class A (without 5.75% sales charge)	7.71%	3.70%	4.33%
Fidelity Managed Retirement 2015 Composite Index℠	8.16%	4.10%	4.98%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,479,558
Number of Holdings	33
Total Advisory Fee	$25,594
Portfolio Turnover	34%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	15.1
Fidelity Series Government Bond Index Fund	12.3
Fidelity Series Investment Grade Bond Fund	12.0
Fidelity Series Corporate Bond Fund	7.9
Fidelity Series Investment Grade Securitized Fund	7.8
Fidelity Series Emerging Markets Opportunities Fund	5.2
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Large Cap Value Index Fund	3.7
Fidelity Series Blue Chip Growth Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.9
	73.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913494.100    1943-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2020 Fund℠

Fidelity Managed Retirement 2020 Fund℠ Class K :  FKRVX 

This annual shareholder report contains information about Fidelity Managed Retirement 2020 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K	$ 39	0.37%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K	8.78%	4.80%
Fidelity Managed Retirement 2020 Composite Index℠	8.80%	4.75%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$8,371,922
Number of Holdings	33
Total Advisory Fee	$38,515
Portfolio Turnover	32%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	11.5
Fidelity Series Investment Grade Bond Fund	11.2
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	11.1
Fidelity Series Corporate Bond Fund	7.5
Fidelity Series Investment Grade Securitized Fund	7.3
Fidelity Series Emerging Markets Opportunities Fund	5.9
Fidelity Series Large Cap Value Index Fund	4.8
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Blue Chip Growth Fund	3.9
	71.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913503.100    3475-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Simplicity RMD 2020 Fund℠

Fidelity Simplicity RMD 2020 Fund℠ :  FIRWX 

This annual shareholder report contains information about Fidelity Simplicity RMD 2020 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Simplicity RMD 2020 Fund℠	$ 59	0.56%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within U.S. equities, non-U.S. equities and U.S. investment-grade bonds.

•Within U.S. equities, an investment in Fidelity® Series Opportunistic Insights Fund (+33.24%) added relative value, given the fund topped the 21.07% advance of its benchmark, the Russell 3000® Index. Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. 

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Conversely, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Simplicity RMD 2020 Fund℠	10.41%	5.45%	5.53%
Fidelity Simplicity RMD 2020 Composite Index℠	10.04%	5.12%	5.73%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$47,578,281
Number of Holdings	33
Total Advisory Fee	$274,828
Portfolio Turnover	23%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Investment Grade Bond Fund	27.9
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	8.4
Fidelity Series Emerging Markets Opportunities Fund	7.0
Fidelity Series Long-Term Treasury Bond Index Fund	5.1
Fidelity Series Growth Company Fund	4.7
Fidelity Series Large Cap Stock Fund	4.3
Fidelity Series International Growth Fund	4.3
Fidelity Series International Value Fund	4.2
Fidelity Series Overseas Fund	4.2
Fidelity Series International Developed Markets Bond Index Fund	4.0
	74.1

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913512.100    2009-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2020 Fund℠

Fidelity Managed Retirement 2020 Fund℠ :  FIRVX 

This annual shareholder report contains information about Fidelity Managed Retirement 2020 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Managed Retirement 2020 Fund℠	$ 49	0.47%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Managed Retirement 2020 Fund℠	8.67%	4.67%	5.08%
Fidelity Managed Retirement 2020 Composite Index℠	8.80%	4.75%	5.47%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$8,371,922
Number of Holdings	33
Total Advisory Fee	$38,515
Portfolio Turnover	32%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	11.5
Fidelity Series Investment Grade Bond Fund	11.2
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	11.1
Fidelity Series Corporate Bond Fund	7.5
Fidelity Series Investment Grade Securitized Fund	7.3
Fidelity Series Emerging Markets Opportunities Fund	5.9
Fidelity Series Large Cap Value Index Fund	4.8
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Blue Chip Growth Fund	3.9
	71.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913500.100    1995-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2010 Fund℠

Fidelity Managed Retirement 2010 Fund℠ Class K :  FRQKX 

This annual shareholder report contains information about Fidelity Managed Retirement 2010 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K	$ 36	0.35%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K	7.36%	3.29%
Fidelity Managed Retirement 2010 Composite Index℠	7.52%	3.39%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,472,463
Number of Holdings	33
Total Advisory Fee	$25,116
Portfolio Turnover	25%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.2
Fidelity Series Government Bond Index Fund	13.1
Fidelity Series Investment Grade Bond Fund	12.8
Fidelity Series Corporate Bond Fund	8.5
Fidelity Series Investment Grade Securitized Fund	8.3
Fidelity Series Emerging Markets Opportunities Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.7
Fidelity Series Large Cap Value Index Fund	2.6
	78.8

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913489.100    3473-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024	This report describes changes to the Fund that occurred during the reporting period.
Fidelity Managed Retirement 2010 Fund℠ Fidelity Managed Retirement 2010 Fund℠ Class K6 :  FRQHX

This annual shareholder report contains information about Fidelity Managed Retirement 2010 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K6	$ 26	0.25%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K6	7.47%	3.39%
Fidelity Managed Retirement 2010 Composite Index℠	7.52%	3.39%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,472,463
Number of Holdings	33
Total Advisory Fee	$25,116
Portfolio Turnover	25%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.2
Fidelity Series Government Bond Index Fund	13.1
Fidelity Series Investment Grade Bond Fund	12.8
Fidelity Series Corporate Bond Fund	8.5
Fidelity Series Investment Grade Securitized Fund	8.3
Fidelity Series Emerging Markets Opportunities Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.7
Fidelity Series Large Cap Value Index Fund	2.6
	78.8

How has the Fund changed?

This is a summary of certain changes to the Fund since August 1, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available by September 28, 2024 at fundresearch.fidelity.com/prospectus/sec or upon request at 1-800-835-5092  or by sending an e-mail to fidfunddocuments@fidelity.com.

   

Effective May 24, 2024, Class Z6, a class of shares of the fund, was consolidated into Class K6 shares of the fund. 

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913490.100    3479-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2025 Fund℠

Fidelity Managed Retirement 2025 Fund℠ Class K :  FKRFX 

This annual shareholder report contains information about Fidelity Managed Retirement 2025 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K	$ 39	0.38%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K	9.49%	5.44%
Fidelity Managed Retirement 2025 Composite Index℠	9.44%	5.32%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$50,060,844
Number of Holdings	33
Total Advisory Fee	$222,391
Portfolio Turnover	36%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	10.4
Fidelity Series Investment Grade Bond Fund	10.1
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	7.0
Fidelity Series Corporate Bond Fund	6.7
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	6.5
Fidelity Series Investment Grade Securitized Fund	6.5
Fidelity Series Emerging Markets Opportunities Fund	6.5
Fidelity Series Large Cap Value Index Fund	5.9
Fidelity Series Blue Chip Growth Fund	4.9
Fidelity Series International Developed Markets Bond Index Fund	4.0
	68.5

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913509.100    3476-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2025 Fund℠

Fidelity Advisor Managed Retirement 2025 Fund℠ Class A :  FARFX 

This annual shareholder report contains information about Fidelity Managed Retirement 2025 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$ 75	0.72%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000 and the current sales charge was paid.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class A (incl. 5.75% sales charge)	2.82%	3.79%	4.61%
Class A (without 5.75% sales charge)	9.09%	5.03%	5.23%
Fidelity Managed Retirement 2025 Composite Index℠	9.44%	5.31%	5.87%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$50,060,844
Number of Holdings	33
Total Advisory Fee	$222,391
Portfolio Turnover	36%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	10.4
Fidelity Series Investment Grade Bond Fund	10.1
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	7.0
Fidelity Series Corporate Bond Fund	6.7
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	6.5
Fidelity Series Investment Grade Securitized Fund	6.5
Fidelity Series Emerging Markets Opportunities Fund	6.5
Fidelity Series Large Cap Value Index Fund	5.9
Fidelity Series Blue Chip Growth Fund	4.9
Fidelity Series International Developed Markets Bond Index Fund	4.0
	68.5

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913507.100    2005-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2030 Fund℠

Fidelity Advisor Managed Retirement 2030 Fund℠ Class I :  FMRDX 

This annual shareholder report contains information about Fidelity Managed Retirement 2030 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$ 51	0.48%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 16, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class I	9.89%	6.05%
Fidelity Managed Retirement 2030 Composite Index℠	9.94%	5.99%
Bloomberg U.S. Aggregate Bond Index	5.10%	-0.27%

A   From August 16, 2019

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$42,605,634
Number of Holdings	33
Total Advisory Fee	$175,975
Portfolio Turnover	40%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	9.2
Fidelity Series Investment Grade Bond Fund	9.0
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	7.7
Fidelity Series Emerging Markets Opportunities Fund	6.8
Fidelity Series Large Cap Value Index Fund	6.7
Fidelity Series Corporate Bond Fund	5.9
Fidelity Series Investment Grade Securitized Fund	5.8
Fidelity Series Blue Chip Growth Fund	5.6
Fidelity Series Long-Term Treasury Bond Index Fund	4.3
Fidelity Series International Developed Markets Bond Index Fund	4.0
	65.0

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913557.100    3500-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2030 Fund℠

Fidelity Advisor Managed Retirement 2030 Fund℠ Class A :  FMRBX 

This annual shareholder report contains information about Fidelity Managed Retirement 2030 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$ 77	0.73%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 16, 2019 through July 31, 2024.

Initial investment of $10,000 and the current sales charge was paid.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class A (incl. 5.75% sales charge)	3.29%	4.54%
Class A (without 5.75% sales charge)	9.59%	5.80%
Fidelity Managed Retirement 2030 Composite Index℠	9.94%	5.99%
Bloomberg U.S. Aggregate Bond Index	5.10%	-0.27%

A   From August 16, 2019

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$42,605,634
Number of Holdings	33
Total Advisory Fee	$175,975
Portfolio Turnover	40%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	9.2
Fidelity Series Investment Grade Bond Fund	9.0
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	7.7
Fidelity Series Emerging Markets Opportunities Fund	6.8
Fidelity Series Large Cap Value Index Fund	6.7
Fidelity Series Corporate Bond Fund	5.9
Fidelity Series Investment Grade Securitized Fund	5.8
Fidelity Series Blue Chip Growth Fund	5.6
Fidelity Series Long-Term Treasury Bond Index Fund	4.3
Fidelity Series International Developed Markets Bond Index Fund	4.0
	65.0

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913556.100    3499-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement Income Fund℠

Fidelity Advisor Managed Retirement Income Fund℠ Class A :  FRAMX 

This annual shareholder report contains information about Fidelity Managed Retirement Income Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$ 73	0.70%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000 and the current sales charge was paid.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class A (incl. 5.75% sales charge)	0.67%	1.24%	2.36%
Class A (without 5.75% sales charge)	6.82%	2.45%	2.97%
Fidelity Managed Retirement Income Composite Index℠	7.39%	2.99%	3.62%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$14,747,002
Number of Holdings	33
Total Advisory Fee	$64,102
Portfolio Turnover	33%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.9
Fidelity Series Government Bond Index Fund	13.3
Fidelity Series Investment Grade Bond Fund	12.9
Fidelity Series Corporate Bond Fund	8.6
Fidelity Series Investment Grade Securitized Fund	8.4
Fidelity Series Emerging Markets Opportunities Fund	4.6
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.2
Fidelity Series Long-Term Treasury Bond Index Fund	2.6
Fidelity Series Large Cap Value Index Fund	2.4
	79.8

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913480.100    1917-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2015 Fund℠

Fidelity Advisor Managed Retirement 2015 Fund℠ Class I :  FRASX 

This annual shareholder report contains information about Fidelity Managed Retirement 2015 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$ 48	0.46%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class I	7.97%	3.96%	4.59%
Fidelity Managed Retirement 2015 Composite Index℠	8.16%	4.10%	4.98%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,479,558
Number of Holdings	33
Total Advisory Fee	$25,594
Portfolio Turnover	34%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	15.1
Fidelity Series Government Bond Index Fund	12.3
Fidelity Series Investment Grade Bond Fund	12.0
Fidelity Series Corporate Bond Fund	7.9
Fidelity Series Investment Grade Securitized Fund	7.8
Fidelity Series Emerging Markets Opportunities Fund	5.2
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Large Cap Value Index Fund	3.7
Fidelity Series Blue Chip Growth Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.9
	73.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913495.100    1946-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024	This report describes changes to the Fund that occurred during the reporting period.
Fidelity Managed Retirement 2025 Fund℠ Fidelity Managed Retirement 2025 Fund℠ Class K6 :  FHRFX

This annual shareholder report contains information about Fidelity Managed Retirement 2025 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K6	$ 28	0.27%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K6	9.59%	5.54%
Fidelity Managed Retirement 2025 Composite Index℠	9.44%	5.32%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$50,060,844
Number of Holdings	33
Total Advisory Fee	$222,391
Portfolio Turnover	36%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	10.4
Fidelity Series Investment Grade Bond Fund	10.1
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	7.0
Fidelity Series Corporate Bond Fund	6.7
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	6.5
Fidelity Series Investment Grade Securitized Fund	6.5
Fidelity Series Emerging Markets Opportunities Fund	6.5
Fidelity Series Large Cap Value Index Fund	5.9
Fidelity Series Blue Chip Growth Fund	4.9
Fidelity Series International Developed Markets Bond Index Fund	4.0
	68.5

How has the Fund changed?

This is a summary of certain changes to the Fund since August 1, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available by September 28, 2024 at fundresearch.fidelity.com/prospectus/sec or upon request at 1-800-835-5092  or by sending an e-mail to fidfunddocuments@fidelity.com.

   

Effective May 24, 2024, Class Z6, a class of shares of the fund, was consolidated into Class K6 shares of the fund. 

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913510.100    3482-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2025 Fund℠

Fidelity Advisor Managed Retirement 2025 Fund℠ Class I :  FIRFX 

This annual shareholder report contains information about Fidelity Managed Retirement 2025 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$ 49	0.47%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class I	9.36%	5.29%	5.49%
Fidelity Managed Retirement 2025 Composite Index℠	9.44%	5.31%	5.87%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$50,060,844
Number of Holdings	33
Total Advisory Fee	$222,391
Portfolio Turnover	36%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	10.4
Fidelity Series Investment Grade Bond Fund	10.1
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	7.0
Fidelity Series Corporate Bond Fund	6.7
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	6.5
Fidelity Series Investment Grade Securitized Fund	6.5
Fidelity Series Emerging Markets Opportunities Fund	6.5
Fidelity Series Large Cap Value Index Fund	5.9
Fidelity Series Blue Chip Growth Fund	4.9
Fidelity Series International Developed Markets Bond Index Fund	4.0
	68.5

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913508.100    2008-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024	This report describes changes to the Fund that occurred during the reporting period.
Fidelity Managed Retirement 2035 Fund℠ Fidelity Managed Retirement 2035 Fund℠ Class K6 :  FMRJX

This annual shareholder report contains information about Fidelity Managed Retirement 2035 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K6	$ 30	0.28%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

December 15, 2022 through July 31, 2024.

Initial investment of $10,000.

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K6	10.73%	11.74%
Fidelity Managed Retirement 2035 Composite Index	10.39%	11.33%
S&P 500® Index	24.56%	26.43%
Bloomberg U.S. Aggregate Bond Index	5.10%	2.86%

A   From December 15, 2022

 

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$10,439,772
Number of Holdings	32
Total Advisory Fee	$16,710
Portfolio Turnover	60%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	8.4
Fidelity Series Government Bond Index Fund	8.2
Fidelity Series Investment Grade Bond Fund	8.0
Fidelity Series Large Cap Value Index Fund	7.4
Fidelity Series Emerging Markets Opportunities Fund	7.3
Fidelity Series Blue Chip Growth Fund	6.2
Fidelity Series Corporate Bond Fund	5.3
Fidelity Series Investment Grade Securitized Fund	5.2
Fidelity Series Long-Term Treasury Bond Index Fund	4.8
Fidelity Series International Growth Fund	4.1
	64.9

How has the Fund changed?

This is a summary of certain changes to the Fund since August 1, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available by September 28, 2024 at fundresearch.fidelity.com/prospectus/sec or upon request at 1-800-835-5092  or by sending an e-mail to fidfunddocuments@fidelity.com.

   

Effective May 24, 2024, Class Z6, a class of shares of the fund, was consolidated into Class K6 shares of the fund. 

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913579.100    7308-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2010 Fund℠

Fidelity Managed Retirement 2010 Fund℠ :  FIRQX 

This annual shareholder report contains information about Fidelity Managed Retirement 2010 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Managed Retirement 2010 Fund℠	$ 47	0.45%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Managed Retirement 2010 Fund℠	7.25%	3.20%	4.04%
Fidelity Managed Retirement 2010 Composite Index℠	7.52%	3.42%	4.45%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,472,463
Number of Holdings	33
Total Advisory Fee	$25,116
Portfolio Turnover	25%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.2
Fidelity Series Government Bond Index Fund	13.1
Fidelity Series Investment Grade Bond Fund	12.8
Fidelity Series Corporate Bond Fund	8.5
Fidelity Series Investment Grade Securitized Fund	8.3
Fidelity Series Emerging Markets Opportunities Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.7
Fidelity Series Large Cap Value Index Fund	2.6
	78.8

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913486.100    1891-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement Income Fund℠

Fidelity Managed Retirement Income Fund℠ :  FIRMX 

This annual shareholder report contains information about Fidelity Managed Retirement Income Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Managed Retirement Income Fund℠	$ 47	0.45%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Managed Retirement Income Fund℠	7.11%	2.70%	3.23%
Fidelity Managed Retirement Income Composite Index℠	7.39%	2.99%	3.62%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$14,747,002
Number of Holdings	33
Total Advisory Fee	$64,102
Portfolio Turnover	33%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.9
Fidelity Series Government Bond Index Fund	13.3
Fidelity Series Investment Grade Bond Fund	12.9
Fidelity Series Corporate Bond Fund	8.6
Fidelity Series Investment Grade Securitized Fund	8.4
Fidelity Series Emerging Markets Opportunities Fund	4.6
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.2
Fidelity Series Long-Term Treasury Bond Index Fund	2.6
Fidelity Series Large Cap Value Index Fund	2.4
	79.8

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913479.100    1887-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement Income Fund℠

Fidelity Advisor Managed Retirement Income Fund℠ Class I :  FRIMX 

This annual shareholder report contains information about Fidelity Managed Retirement Income Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$ 47	0.45%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class I	7.09%	2.71%	3.23%
Fidelity Managed Retirement Income Composite Index℠	7.39%	2.99%	3.62%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$14,747,002
Number of Holdings	33
Total Advisory Fee	$64,102
Portfolio Turnover	33%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.9
Fidelity Series Government Bond Index Fund	13.3
Fidelity Series Investment Grade Bond Fund	12.9
Fidelity Series Corporate Bond Fund	8.6
Fidelity Series Investment Grade Securitized Fund	8.4
Fidelity Series Emerging Markets Opportunities Fund	4.6
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.2
Fidelity Series Long-Term Treasury Bond Index Fund	2.6
Fidelity Series Large Cap Value Index Fund	2.4
	79.8

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913481.100    1920-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2030 Fund℠

Fidelity Managed Retirement 2030 Fund℠ :  FMRAX 

This annual shareholder report contains information about Fidelity Managed Retirement 2030 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Managed Retirement 2030 Fund℠	$ 50	0.48%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 16, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Fidelity Managed Retirement 2030 Fund℠	9.91%	6.06%
Fidelity Managed Retirement 2030 Composite Index℠	9.94%	5.99%
Bloomberg U.S. Aggregate Bond Index	5.10%	-0.27%

A   From August 16, 2019

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$42,605,634
Number of Holdings	33
Total Advisory Fee	$175,975
Portfolio Turnover	40%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	9.2
Fidelity Series Investment Grade Bond Fund	9.0
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	7.7
Fidelity Series Emerging Markets Opportunities Fund	6.8
Fidelity Series Large Cap Value Index Fund	6.7
Fidelity Series Corporate Bond Fund	5.9
Fidelity Series Investment Grade Securitized Fund	5.8
Fidelity Series Blue Chip Growth Fund	5.6
Fidelity Series Long-Term Treasury Bond Index Fund	4.3
Fidelity Series International Developed Markets Bond Index Fund	4.0
	65.0

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913558.100    4500-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Simplicity RMD 2030 Fund℠

Fidelity Simplicity RMD 2030 Fund℠ :  FSRMX 

This annual shareholder report contains information about Fidelity Simplicity RMD 2030 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Simplicity RMD 2030 Fund℠	$ 69	0.65%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within U.S. equities, non-U.S. equities and U.S. investment-grade bonds.

•Within U.S. equities, an investment in Fidelity® Series Opportunistic Insights Fund (+33.24%) added relative value, given the fund topped the 21.07% advance of its benchmark, the Russell 3000® Index. Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. 

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Conversely, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

December 15, 2022 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Fidelity Simplicity RMD 2030 Fund℠	12.31%	13.95%
Fidelity Simplicity RMD 2030 Composite Index℠	11.69%	13.26%
S&P 500® Index	22.15%	25.83%

A   From December 15, 2022

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$795,401
Number of Holdings	29
Total Advisory Fee	$4,620
Portfolio Turnover	55%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

Short-Term Investments and Net Other Assets (Liabilities) - (0.1)%

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Investment Grade Bond Fund	18.7
Fidelity Series Emerging Markets Opportunities Fund	8.3
Fidelity Series Long-Term Treasury Bond Index Fund	6.9
Fidelity Series Growth Company Fund	6.2
Fidelity Series Large Cap Stock Fund	5.8
Fidelity Series International Growth Fund	5.5
Fidelity Series International Value Fund	5.4
Fidelity Series Overseas Fund	5.4
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	5.1
Fidelity Series Stock Selector Large Cap Value Fund	4.0
	71.3

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913573.100    7247-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Simplicity RMD 2025 Fund℠

Fidelity Simplicity RMD 2025 Fund℠ :  FMRHX 

This annual shareholder report contains information about Fidelity Simplicity RMD 2025 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Simplicity RMD 2025 Fund℠	$ 65	0.61%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within U.S. equities, non-U.S. equities and U.S. investment-grade bonds.

•Within U.S. equities, an investment in Fidelity® Series Opportunistic Insights Fund (+33.24%) added relative value, given the fund topped the 21.07% advance of its benchmark, the Russell 3000® Index. Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. 

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Conversely, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 16, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Fidelity Simplicity RMD 2025 Fund℠	11.26%	6.65%
Fidelity Simplicity RMD 2025 Composite Index℠	10.86%	6.17%
S&P 500® Index	22.15%	15.81%

A   From August 16, 2019

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$11,726,075
Number of Holdings	30
Total Advisory Fee	$68,008
Portfolio Turnover	36%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

Short-Term Investments and Net Other Assets (Liabilities) - (0.1)%

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Investment Grade Bond Fund	21.6
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	9.3
Fidelity Series Emerging Markets Opportunities Fund	7.6
Fidelity Series Long-Term Treasury Bond Index Fund	6.5
Fidelity Series Growth Company Fund	5.5
Fidelity Series Large Cap Stock Fund	5.2
Fidelity Series International Growth Fund	4.9
Fidelity Series International Value Fund	4.9
Fidelity Series Overseas Fund	4.9
Fidelity Series International Developed Markets Bond Index Fund	3.9
	74.3

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913555.100    3497-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024	This report describes changes to the Fund that occurred during the reporting period.
Fidelity Managed Retirement 2020 Fund℠ Fidelity Managed Retirement 2020 Fund℠ Class K6 :  FHRVX

This annual shareholder report contains information about Fidelity Managed Retirement 2020 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K6	$ 28	0.27%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K6	8.88%	4.90%
Fidelity Managed Retirement 2020 Composite Index℠	8.80%	4.75%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$8,371,922
Number of Holdings	33
Total Advisory Fee	$38,515
Portfolio Turnover	32%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	11.5
Fidelity Series Investment Grade Bond Fund	11.2
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	11.1
Fidelity Series Corporate Bond Fund	7.5
Fidelity Series Investment Grade Securitized Fund	7.3
Fidelity Series Emerging Markets Opportunities Fund	5.9
Fidelity Series Large Cap Value Index Fund	4.8
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Blue Chip Growth Fund	3.9
	71.9

How has the Fund changed?

This is a summary of certain changes to the Fund since August 1, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available by September 28, 2024 at fundresearch.fidelity.com/prospectus/sec or upon request at 1-800-835-5092  or by sending an e-mail to fidfunddocuments@fidelity.com.

   

Effective May 24, 2024, Class Z6, a class of shares of the fund, was consolidated into Class K6 shares of the fund. 

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913504.100    3481-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Simplicity RMD 2010 Fund℠

Fidelity Simplicity RMD 2010 Fund℠ :  FIRRX 

This annual shareholder report contains information about Fidelity Simplicity RMD 2010 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Simplicity RMD 2010 Fund℠	$ 50	0.48%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within U.S. equities, non-U.S. equities and U.S. investment-grade bonds.

•Within U.S. equities, an investment in Fidelity® Series Opportunistic Insights Fund (+33.24%) added relative value, given the fund topped the 21.07% advance of its benchmark, the Russell 3000® Index. Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. 

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Conversely, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Simplicity RMD 2010 Fund℠	8.36%	3.73%	4.37%
Fidelity Simplicity RMD 2010 Composite Index℠	8.24%	3.59%	4.59%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$10,112,022
Number of Holdings	33
Total Advisory Fee	$48,350
Portfolio Turnover	30%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Investment Grade Bond Fund	39.7
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	14.5
Fidelity Series Emerging Markets Opportunities Fund	5.2
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	3.1
Fidelity Series Long-Term Treasury Bond Index Fund	2.9
Fidelity Series International Growth Fund	2.7
Fidelity Series International Value Fund	2.7
Fidelity Series Overseas Fund	2.7
Fidelity Series Growth Company Fund	2.5
	80.0

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913492.100    1892-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Simplicity RMD 2015 Fund℠

Fidelity Simplicity RMD 2015 Fund℠ :  FIRUX 

This annual shareholder report contains information about Fidelity Simplicity RMD 2015 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Simplicity RMD 2015 Fund℠	$ 54	0.52%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within U.S. equities, non-U.S. equities and U.S. investment-grade bonds.

•Within U.S. equities, an investment in Fidelity® Series Opportunistic Insights Fund (+33.24%) added relative value, given the fund topped the 21.07% advance of its benchmark, the Russell 3000® Index. Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. 

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Conversely, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Simplicity RMD 2015 Fund℠	9.41%	4.61%	4.96%
Fidelity Simplicity RMD 2015 Composite Index℠	9.15%	4.36%	5.17%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$18,974,932
Number of Holdings	33
Total Advisory Fee	$103,222
Portfolio Turnover	22%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Investment Grade Bond Fund	36.1
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	8.9
Fidelity Series Emerging Markets Opportunities Fund	6.1
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	5.7
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Growth Company Fund	3.6
Fidelity Series International Growth Fund	3.5
Fidelity Series International Value Fund	3.5
Fidelity Series Overseas Fund	3.4
Fidelity Series Large Cap Stock Fund	3.4
	78.2

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913499.100    1894-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2035 Fund℠

Fidelity Advisor Managed Retirement 2035 Fund℠ Class I :  FMRYX 

This annual shareholder report contains information about Fidelity Managed Retirement 2035 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$ 51	0.48%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

December 15, 2022 through July 31, 2024.

Initial investment of $10,000.

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class I	10.54%	11.55%
Fidelity Managed Retirement 2035 Composite Index	10.39%	11.33%
S&P 500® Index	24.56%	26.43%
Bloomberg U.S. Aggregate Bond Index	5.10%	2.86%

A   From December 15, 2022

 

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$10,439,772
Number of Holdings	32
Total Advisory Fee	$16,710
Portfolio Turnover	60%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	8.4
Fidelity Series Government Bond Index Fund	8.2
Fidelity Series Investment Grade Bond Fund	8.0
Fidelity Series Large Cap Value Index Fund	7.4
Fidelity Series Emerging Markets Opportunities Fund	7.3
Fidelity Series Blue Chip Growth Fund	6.2
Fidelity Series Corporate Bond Fund	5.3
Fidelity Series Investment Grade Securitized Fund	5.2
Fidelity Series Long-Term Treasury Bond Index Fund	4.8
Fidelity Series International Growth Fund	4.1
	64.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913577.100    7306-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024	This report describes changes to the Fund that occurred during the reporting period.
Fidelity Managed Retirement Income Fund℠ Fidelity Managed Retirement Income Fund℠ Class K6 :  FRHMX

This annual shareholder report contains information about Fidelity Managed Retirement Income Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K6	$ 26	0.25%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K6	7.31%	2.88%
Fidelity Managed Retirement Income Composite Index℠	7.39%	2.94%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$14,747,002
Number of Holdings	33
Total Advisory Fee	$64,102
Portfolio Turnover	33%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.9
Fidelity Series Government Bond Index Fund	13.3
Fidelity Series Investment Grade Bond Fund	12.9
Fidelity Series Corporate Bond Fund	8.6
Fidelity Series Investment Grade Securitized Fund	8.4
Fidelity Series Emerging Markets Opportunities Fund	4.6
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.2
Fidelity Series Long-Term Treasury Bond Index Fund	2.6
Fidelity Series Large Cap Value Index Fund	2.4
	79.8

How has the Fund changed?

This is a summary of certain changes to the Fund since August 1, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available by September 28, 2024 at fundresearch.fidelity.com/prospectus/sec or upon request at 1-800-835-5092  or by sending an e-mail to fidfunddocuments@fidelity.com.

   

Effective May 24, 2024, Class Z6, a class of shares of the fund, was consolidated into Class K6 shares of the fund. 

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913483.100    3477-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024	This report describes changes to the Fund that occurred during the reporting period.
Fidelity Managed Retirement 2030 Fund℠ Fidelity Managed Retirement 2030 Fund℠ Class K6 :  FMRFX

This annual shareholder report contains information about Fidelity Managed Retirement 2030 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K6	$ 30	0.28%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 16, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K6	10.04%	6.26%
Fidelity Managed Retirement 2030 Composite Index℠	9.94%	5.99%
Bloomberg U.S. Aggregate Bond Index	5.10%	-0.27%

A   From August 16, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$42,605,634
Number of Holdings	33
Total Advisory Fee	$175,975
Portfolio Turnover	40%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	9.2
Fidelity Series Investment Grade Bond Fund	9.0
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	7.7
Fidelity Series Emerging Markets Opportunities Fund	6.8
Fidelity Series Large Cap Value Index Fund	6.7
Fidelity Series Corporate Bond Fund	5.9
Fidelity Series Investment Grade Securitized Fund	5.8
Fidelity Series Blue Chip Growth Fund	5.6
Fidelity Series Long-Term Treasury Bond Index Fund	4.3
Fidelity Series International Developed Markets Bond Index Fund	4.0
	65.0

How has the Fund changed?

This is a summary of certain changes to the Fund since August 1, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available by September 28, 2024 at fundresearch.fidelity.com/prospectus/sec or upon request at 1-800-835-5092  or by sending an e-mail to fidfunddocuments@fidelity.com.

   

Effective May 24, 2024, Class Z6, a class of shares of the fund, was consolidated into Class K6 shares of the fund. 

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913560.100    4502-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement Income Fund℠

Fidelity Managed Retirement Income Fund℠ Class K :  FRKMX 

This annual shareholder report contains information about Fidelity Managed Retirement Income Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K	$ 36	0.35%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K	7.20%	2.78%
Fidelity Managed Retirement Income Composite Index℠	7.39%	2.94%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$14,747,002
Number of Holdings	33
Total Advisory Fee	$64,102
Portfolio Turnover	33%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.9
Fidelity Series Government Bond Index Fund	13.3
Fidelity Series Investment Grade Bond Fund	12.9
Fidelity Series Corporate Bond Fund	8.6
Fidelity Series Investment Grade Securitized Fund	8.4
Fidelity Series Emerging Markets Opportunities Fund	4.6
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.2
Fidelity Series Long-Term Treasury Bond Index Fund	2.6
Fidelity Series Large Cap Value Index Fund	2.4
	79.8

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913482.100    3471-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2015 Fund℠

Fidelity Managed Retirement 2015 Fund℠ :  FIRSX 

This annual shareholder report contains information about Fidelity Managed Retirement 2015 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Managed Retirement 2015 Fund℠	$ 48	0.46%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Managed Retirement 2015 Fund℠	7.99%	3.96%	4.59%
Fidelity Managed Retirement 2015 Composite Index℠	8.16%	4.10%	4.98%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,479,558
Number of Holdings	33
Total Advisory Fee	$25,594
Portfolio Turnover	34%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	15.1
Fidelity Series Government Bond Index Fund	12.3
Fidelity Series Investment Grade Bond Fund	12.0
Fidelity Series Corporate Bond Fund	7.9
Fidelity Series Investment Grade Securitized Fund	7.8
Fidelity Series Emerging Markets Opportunities Fund	5.2
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Large Cap Value Index Fund	3.7
Fidelity Series Blue Chip Growth Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.9
	73.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913493.100    1893-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2035 Fund℠

Fidelity Advisor Managed Retirement 2035 Fund℠ Class A :  FMRUX 

This annual shareholder report contains information about Fidelity Managed Retirement 2035 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$ 77	0.73%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

December 15, 2022 through July 31, 2024.

Initial investment of $10,000 and the current sales charge was paid.

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class A (incl. 5.75% sales charge)	3.97%	7.29%
Class A (without 5.75% sales charge)	10.31%	11.27%
Fidelity Managed Retirement 2035 Composite Index	10.39%	11.33%
S&P 500® Index	24.56%	26.43%
Bloomberg U.S. Aggregate Bond Index	5.10%	2.86%

A   From December 15, 2022

 

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$10,439,772
Number of Holdings	32
Total Advisory Fee	$16,710
Portfolio Turnover	60%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	8.4
Fidelity Series Government Bond Index Fund	8.2
Fidelity Series Investment Grade Bond Fund	8.0
Fidelity Series Large Cap Value Index Fund	7.4
Fidelity Series Emerging Markets Opportunities Fund	7.3
Fidelity Series Blue Chip Growth Fund	6.2
Fidelity Series Corporate Bond Fund	5.3
Fidelity Series Investment Grade Securitized Fund	5.2
Fidelity Series Long-Term Treasury Bond Index Fund	4.8
Fidelity Series International Growth Fund	4.1
	64.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913575.100    7304-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2020 Fund℠

Fidelity Advisor Managed Retirement 2020 Fund℠ Class A :  FARVX 

This annual shareholder report contains information about Fidelity Managed Retirement 2020 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$ 75	0.72%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000 and the current sales charge was paid.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class A (incl. 5.75% sales charge)	2.15%	3.17%	4.20%
Class A (without 5.75% sales charge)	8.38%	4.40%	4.82%
Fidelity Managed Retirement 2020 Composite Index℠	8.80%	4.75%	5.47%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$8,371,922
Number of Holdings	33
Total Advisory Fee	$38,515
Portfolio Turnover	32%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	11.5
Fidelity Series Investment Grade Bond Fund	11.2
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	11.1
Fidelity Series Corporate Bond Fund	7.5
Fidelity Series Investment Grade Securitized Fund	7.3
Fidelity Series Emerging Markets Opportunities Fund	5.9
Fidelity Series Large Cap Value Index Fund	4.8
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Blue Chip Growth Fund	3.9
	71.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913501.100    1997-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024	This report describes changes to the Fund that occurred during the reporting period.
Fidelity Managed Retirement 2015 Fund℠ Fidelity Managed Retirement 2015 Fund℠ Class K6 :  FJRSX

This annual shareholder report contains information about Fidelity Managed Retirement 2015 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K6	$ 27	0.26%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K6	8.18%	4.18%
Fidelity Managed Retirement 2015 Composite Index℠	8.16%	4.09%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,479,558
Number of Holdings	33
Total Advisory Fee	$25,594
Portfolio Turnover	34%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	15.1
Fidelity Series Government Bond Index Fund	12.3
Fidelity Series Investment Grade Bond Fund	12.0
Fidelity Series Corporate Bond Fund	7.9
Fidelity Series Investment Grade Securitized Fund	7.8
Fidelity Series Emerging Markets Opportunities Fund	5.2
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Large Cap Value Index Fund	3.7
Fidelity Series Blue Chip Growth Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.9
	73.9

How has the Fund changed?

This is a summary of certain changes to the Fund since August 1, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available by September 28, 2024 at fundresearch.fidelity.com/prospectus/sec or upon request at 1-800-835-5092  or by sending an e-mail to fidfunddocuments@fidelity.com.

   

Effective May 24, 2024, Class Z6, a class of shares of the fund, was consolidated into Class K6 shares of the fund. 

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913497.100    3480-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2025 Fund℠

Fidelity Managed Retirement 2025 Fund℠ :  FIXRX 

This annual shareholder report contains information about Fidelity Managed Retirement 2025 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Managed Retirement 2025 Fund℠	$ 49	0.47%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Fidelity Managed Retirement 2025 Fund℠	9.38%	5.29%	5.49%
Fidelity Managed Retirement 2025 Composite Index℠	9.44%	5.31%	5.87%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$50,060,844
Number of Holdings	33
Total Advisory Fee	$222,391
Portfolio Turnover	36%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series Government Bond Index Fund	10.4
Fidelity Series Investment Grade Bond Fund	10.1
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	7.0
Fidelity Series Corporate Bond Fund	6.7
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	6.5
Fidelity Series Investment Grade Securitized Fund	6.5
Fidelity Series Emerging Markets Opportunities Fund	6.5
Fidelity Series Large Cap Value Index Fund	5.9
Fidelity Series Blue Chip Growth Fund	4.9
Fidelity Series International Developed Markets Bond Index Fund	4.0
	68.5

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913506.100    1996-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2010 Fund℠

Fidelity Advisor Managed Retirement 2010 Fund℠ Class A :  FRQAX 

This annual shareholder report contains information about Fidelity Managed Retirement 2010 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$ 72	0.70%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000 and the current sales charge was paid.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class A (incl. 5.75% sales charge)	0.83%	1.73%	3.17%
Class A (without 5.75% sales charge)	6.98%	2.94%	3.78%
Fidelity Managed Retirement 2010 Composite Index℠	7.52%	3.42%	4.45%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,472,463
Number of Holdings	33
Total Advisory Fee	$25,116
Portfolio Turnover	25%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.2
Fidelity Series Government Bond Index Fund	13.1
Fidelity Series Investment Grade Bond Fund	12.8
Fidelity Series Corporate Bond Fund	8.5
Fidelity Series Investment Grade Securitized Fund	8.3
Fidelity Series Emerging Markets Opportunities Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.7
Fidelity Series Large Cap Value Index Fund	2.6
	78.8

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913487.100    1934-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2015 Fund℠

Fidelity Managed Retirement 2015 Fund℠ Class K :  FKRSX 

This annual shareholder report contains information about Fidelity Managed Retirement 2015 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class K	$ 38	0.36%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

August 1, 2019 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Class K	8.08%	4.07%
Fidelity Managed Retirement 2015 Composite Index℠	8.16%	4.09%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.06%

A   From August 1, 2019

 

Visit www.401k.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,479,558
Number of Holdings	33
Total Advisory Fee	$25,594
Portfolio Turnover	34%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	15.1
Fidelity Series Government Bond Index Fund	12.3
Fidelity Series Investment Grade Bond Fund	12.0
Fidelity Series Corporate Bond Fund	7.9
Fidelity Series Investment Grade Securitized Fund	7.8
Fidelity Series Emerging Markets Opportunities Fund	5.2
Fidelity Series International Developed Markets Bond Index Fund	4.0
Fidelity Series Large Cap Value Index Fund	3.7
Fidelity Series Blue Chip Growth Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.9
	73.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913496.100    3474-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2010 Fund℠

Fidelity Advisor Managed Retirement 2010 Fund℠ Class I :  FRQIX 

This annual shareholder report contains information about Fidelity Managed Retirement 2010 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$ 47	0.45%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the past 10 years?  

CUMULATIVE PERFORMANCE

July 31, 2014 through July 31, 2024.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	5 Year	10 Year
Class I	7.26%	3.20%	4.04%
Fidelity Managed Retirement 2010 Composite Index℠	7.52%	3.42%	4.45%
Bloomberg U.S. Aggregate Bond Index	5.10%	0.19%	1.61%

 

Visit institutional.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$5,472,463
Number of Holdings	33
Total Advisory Fee	$25,116
Portfolio Turnover	25%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	19.2
Fidelity Series Government Bond Index Fund	13.1
Fidelity Series Investment Grade Bond Fund	12.8
Fidelity Series Corporate Bond Fund	8.5
Fidelity Series Investment Grade Securitized Fund	8.3
Fidelity Series Emerging Markets Opportunities Fund	4.7
Fidelity Series International Developed Markets Bond Index Fund	3.9
Fidelity Series Treasury Bill Index Fund	3.0
Fidelity Series Long-Term Treasury Bond Index Fund	2.7
Fidelity Series Large Cap Value Index Fund	2.6
	78.8

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913488.100    1937-TSRA-0924

ANNUAL SHAREHOLDER REPORT | AS OF JULY 31, 2024

Fidelity Managed Retirement 2035 Fund℠

Fidelity Managed Retirement 2035 Fund℠ :  FMRTX 

This annual shareholder report contains information about Fidelity Managed Retirement 2035 Fund℠ for the period August 1, 2023 to July 31, 2024. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

What were your Fund costs for the last year?

(based on hypothetical $10,000 investment)

FUND COST (PREVIOUS YEAR)

 

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Fidelity Managed Retirement 2035 Fund℠	$ 51	0.48%

What affected the Fund's performance this period?

•For the 12 months ending July 31, 2024, an expanding global economy and a slowing in the pace of inflation in certain markets, as well as moves by some central banks toward monetary easing, contributed to a favorable backdrop for risk assets, despite geopolitical uncertainty.

•Against this backdrop, asset allocation decisions detracted from the Funds' performance versus Composite indexes the past 12 months. In particular, underweighting U.S. equities, the top-performing asset class, weighed most on relative performance. Out-of-Composite exposure to poor-performing commodities also hurt, as did an overweight in long-term U.S. Treasury bonds.

•Conversely, the performance of the underlying investment funds contributed to the Funds' relative performance, especially within non-U.S. equities, U.S. equities and U.S. investment-grade bonds.

•Within non-U.S. equities, an investment in Fidelity® Series International Growth Fund (+13.11%) notably contributed, given the fund topped the 8.76% result of its benchmark, the MSCI EAFE Index. Within U.S. equities, an investment in Fidelity® Series Blue Chip Growth Fund (+30.98%) added relative value, given the fund topped the 26.94% advance of its benchmark, the Russell 1000® Growth Index.

•Elsewhere in U.S. equities, an investment in Fidelity® Series Value Discovery Fund detracted from the Funds' relative performance. This underlying fund returned 10.70%, trailing the 14.80% gain of its benchmark, the Russell 3000® Value Index. 

•Note to shareholders: On February 2, 2024, the 2035 Fund's primary benchmark changed from the S&P 500 index to the Bloomberg U.S. Aggregate Bond Index, to better reflect the Fund's more heavily weighted neutral allocation to debt.

How did the Fund perform over the life of Fund?  

CUMULATIVE PERFORMANCE

December 15, 2022 through July 31, 2024.

Initial investment of $10,000.

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

AVERAGE ANNUAL TOTAL RETURNS:  

	1 Year	Life of Fund A
Fidelity Managed Retirement 2035 Fund℠	10.50%	11.49%
Fidelity Managed Retirement 2035 Composite Index	10.39%	11.33%
S&P 500® Index	24.56%	26.43%
Bloomberg U.S. Aggregate Bond Index	5.10%	2.86%

A   From December 15, 2022

 

Effective February 2, 2024, the fund began comparing its performance to Bloomberg U.S. Aggregate Bond Index rather than S&P 500® Index because the Bloomberg U.S. Aggregate Bond Index conforms more closely to the fund's investment policies.

Visit www.fidelity.com for more recent performance information.

The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 

Key Fund Statistics  

(as of July 31, 2024)

KEY FACTS
Fund Size	$10,439,772
Number of Holdings	32
Total Advisory Fee	$16,710
Portfolio Turnover	60%

What did the Fund invest in?
(as of July 31, 2024)

ASSET ALLOCATION (% of Fund's net assets)

TOP HOLDINGS (% of Fund's net assets)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	8.4
Fidelity Series Government Bond Index Fund	8.2
Fidelity Series Investment Grade Bond Fund	8.0
Fidelity Series Large Cap Value Index Fund	7.4
Fidelity Series Emerging Markets Opportunities Fund	7.3
Fidelity Series Blue Chip Growth Fund	6.2
Fidelity Series Corporate Bond Fund	5.3
Fidelity Series Investment Grade Securitized Fund	5.2
Fidelity Series Long-Term Treasury Bond Index Fund	4.8
Fidelity Series International Growth Fund	4.1
	64.9

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. © 2024 FMR LLC. All rights reserved.
		For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9913574.100    7303-TSRA-0924

Item 2.

Code of Ethics

As of the end of the period, July 31, 2024, Fidelity Income Fund (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer.  A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

Item 3.

Audit Committee Financial Expert

The Board of Trustees of the trust has determined that Elizabeth S. Acton is an audit committee financial expert, as defined in Item 3 of Form N-CSR.  Ms. Acton is independent for purposes of Item 3 of Form N-CSR.  

Item 4.  

Principal Accountant Fees and Services

Fees and Services

The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Managed Retirement 2010 Fund, Fidelity Managed Retirement 2015 Fund, Fidelity Managed Retirement 2020 Fund, Fidelity Managed Retirement 2025 Fund, Fidelity Managed Retirement 2030 Fund, Fidelity Managed Retirement 2035 Fund, Fidelity Managed Retirement Income Fund, Fidelity Simplicity RMD 2010 Fund, Fidelity Simplicity RMD 2015 Fund, Fidelity Simplicity RMD 2020 Fund, Fidelity Simplicity RMD 2025 Fund, Fidelity Simplicity RMD 2030 Fund, and Fidelity Simplicity RMD Income Fund (the “Funds”):

Services Billed by Deloitte Entities

July 31, 2024 Fees^A

	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Managed Retirement 2010 Fund	$21,100	$-	$7,500	$600
Fidelity Managed Retirement 2015 Fund	$21,100	$-	$7,500	$600
Fidelity Managed Retirement 2020 Fund	$21,100	$-	$7,500	$600
Fidelity Managed Retirement 2025 Fund	$21,100	$-	$7,500	$600
Fidelity Managed Retirement 2030 Fund	$20,400	$-	$7,500	$600
Fidelity Managed Retirement 2035 Fund	$19,900	$-	$7,700	$500
Fidelity Managed Retirement Income Fund	$21,100	$-	$7,500	$600
Fidelity Simplicity RMD 2010 Fund	$14,900	$-	$7,500	$500
Fidelity Simplicity RMD 2015 Fund	$14,900	$-	$7,500	$500
Fidelity Simplicity RMD 2020 Fund	$14,900	$-	$7,500	$500
Fidelity Simplicity RMD 2025 Fund	$17,100	$-	$7,500	$500
Fidelity Simplicity RMD 2030 Fund	$16,400	$-	$8,000	$500
Fidelity Simplicity RMD Income Fund	$14,900	$-	$7,500	$500

July 31, 2023 Fees,^A

	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Managed Retirement 2010 Fund	$22,600	$-	$7,500	$600
Fidelity Managed Retirement 2015 Fund	$22,600	$-	$7,500	$600
Fidelity Managed Retirement 2020 Fund	$22,600	$-	$7,500	$600
Fidelity Managed Retirement 2025 Fund	$22,600	$-	$7,500	$600
Fidelity Managed Retirement 2030 Fund	$21,400	$-	$8,000	$600
Fidelity Managed Retirement 2035 Fund	$16,900	$-	$7,500	$300
Fidelity Managed Retirement Income Fund	$22,600	$-	$7,500	$600
Fidelity Simplicity RMD 2010 Fund	$16,400	$-	$7,500	$500
Fidelity Simplicity RMD 2015 Fund	$16,400	$-	$7,500	$500
Fidelity Simplicity RMD 2020 Fund	$16,400	$-	$7,500	$500
Fidelity Simplicity RMD 2025 Fund	$18,100	$-	$7,500	$500
Fidelity Simplicity RMD 2030 Fund	$13,800	$-	$7,800	$300
Fidelity Simplicity RMD Income Fund	$16,400	$-	$7,500	$500

^A Amounts may reflect rounding.

The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity GNMA Fund (the “Fund”):

Services Billed by PwC

July 31, 2024 Fees^A

	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity GNMA Fund	$96,200	$8,000	$14,100	$3,400

July 31, 2023 Fees^A

	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity GNMA Fund	$96,500	$8,000	$14,100	$3,400

^A Amounts may reflect rounding.

The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):

Services Billed by Deloitte Entities

	July 31, 2024A	July 31, 2023A
Audit-Related Fees	$200,000	$80,000
Tax Fees	$-	$-
All Other Fees	$1,929,500	$-

^A Amounts may reflect rounding.

Services Billed by PwC

	July 31, 2024A	July 31, 2023A
Audit-Related Fees	$9,437,800	$8,699,200
Tax Fees	$61,000	$1,000
All Other Fees	$35,000	$-

^A Amounts may reflect rounding

“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.

“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.

“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.  

Assurance services must be performed by an independent public accountant.

* * *

The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:

Billed By	July 31, 2024A	July 31, 2023A
Deloitte Entities	$5,053,800	$3,403,000
PwC	$15,033,900	$14,178,500

^A Amounts may reflect rounding.

The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.

Audit Committee Pre-Approval Policies and Procedures

The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.

All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.

Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.

Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)

There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal

years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).

The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board (the “PCAOB”) has determined that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.

The Registrant is not a “foreign issuer,” as defined in 17 CFR 240.3b-4.

Item 5.

Audit Committee of Listed Registrants

Not applicable.

Item 6.  

Investments

(a)

Not applicable.

(b)

Not applicable.

Item 7.

Financial Statements and Financial Highlights for Open-End Management Investment Companies

Fidelity Simplicity RMD Income Fund℠

Fidelity Simplicity RMD 2010 Fund℠

Fidelity Simplicity RMD 2015 Fund℠

Fidelity Simplicity RMD 2020 Fund℠

Fidelity Simplicity RMD 2025 Fund℠

Fidelity Simplicity RMD 2030 Fund℠

Annual Report

July 31, 2024

Contents

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Funds nor Fidelity Distributors Corporation is a bank.

Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Annual Report)

Fidelity Simplicity RMD Income Fund℠

Schedule of Investments July 31, 2024

Showing Percentage of Net Assets  

Domestic Equity Funds - 9.3%
	Shares	Value ($)
Fidelity Series All-Sector Equity Fund (a)	7,051	87,151
Fidelity Series Blue Chip Growth Fund (a)	12,873	246,258
Fidelity Series Commodity Strategy Fund (a)	2,636	246,956
Fidelity Series Growth Company Fund (a)	19,149	462,268
Fidelity Series Intrinsic Opportunities Fund (a)	6,961	84,989
Fidelity Series Large Cap Stock Fund (a)	18,632	433,754
Fidelity Series Large Cap Value Index Fund (a)	8,087	133,193
Fidelity Series Opportunistic Insights Fund (a)	11,615	272,717
Fidelity Series Small Cap Core Fund (a)	1,026	12,749
Fidelity Series Small Cap Discovery Fund (a)	2,990	35,462
Fidelity Series Small Cap Opportunities Fund (a)	8,263	134,187
Fidelity Series Stock Selector Large Cap Value Fund (a)	20,548	297,118
Fidelity Series Value Discovery Fund (a)	16,476	264,927
TOTAL DOMESTIC EQUITY FUNDS  (Cost $2,083,586)		2,711,729

International Equity Funds - 13.6%
	Shares	Value ($)
Fidelity Series Canada Fund (a)	12,828	202,176
Fidelity Series Emerging Markets Fund (a)	35,486	324,696
Fidelity Series Emerging Markets Opportunities Fund (a)	69,282	1,300,419
Fidelity Series International Growth Fund (a)	30,793	570,904
Fidelity Series International Small Cap Fund (a)	24,245	439,568
Fidelity Series International Value Fund (a)	43,305	567,293
Fidelity Series Overseas Fund (a)	39,236	566,568
TOTAL INTERNATIONAL EQUITY FUNDS  (Cost $3,189,428)		3,971,624

Bond Funds - 71.7%
	Shares	Value ($)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (a)	598,183	5,796,393
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (a)	23,017	178,379
Fidelity Series Emerging Markets Debt Fund (a)	19,358	153,122
Fidelity Series Emerging Markets Debt Local Currency Fund (a)	5,374	48,633
Fidelity Series Floating Rate High Income Fund (a)	3,250	29,186
Fidelity Series High Income Fund (a)	18,550	158,227
Fidelity Series International Credit Fund (a)	2,059	16,929
Fidelity Series International Developed Markets Bond Index Fund (a)	132,291	1,149,606
Fidelity Series Investment Grade Bond Fund (a)	1,246,554	12,565,269
Fidelity Series Long-Term Treasury Bond Index Fund (a)	136,887	776,149
Fidelity Series Real Estate Income Fund (a)	2,930	28,915
TOTAL BOND FUNDS  (Cost $22,678,278)		20,900,808

Short-Term Funds - 5.4%
	Shares	Value ($)
Fidelity Series Government Money Market Fund 5.42% (a)(b)	1,246,024	1,246,024
Fidelity Series Short-Term Credit Fund (a)	32,637	325,064
TOTAL SHORT-TERM FUNDS  (Cost $1,568,354)		1,571,088

TOTAL INVESTMENT IN SECURITIES - 100.0%  (Cost $29,519,646)	29,155,249
NET OTHER ASSETS (LIABILITIES) - 0.0%	(10,984)
NET ASSETS - 100.0%	29,144,265

Legend

(a) Affiliated Fund  

(b) The rate quoted is the annualized seven-day yield of the fund at period end.  

Affiliated Underlying Funds

Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	7,018,186	810,311	2,161,164	215,672	(60,957)	190,017	5,796,393
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	214,310	23,080	54,727	8,421	(3,620)	(664)	178,379
Fidelity Series All-Sector Equity Fund	71,283	35,318	31,088	5,234	1,164	10,474	87,151
Fidelity Series Blue Chip Growth Fund	196,979	97,625	105,911	1,076	7,831	49,734	246,258
Fidelity Series Canada Fund	236,535	42,552	88,921	7,100	13,852	(1,842)	202,176
Fidelity Series Commodity Strategy Fund	264,781	91,609	84,814	10,335	(5,352)	(19,268)	246,956
Fidelity Series Emerging Markets Debt Fund	181,579	17,002	52,894	10,416	(11,819)	19,254	153,122
Fidelity Series Emerging Markets Debt Local Currency Fund	61,532	7,374	16,504	3,862	(1,694)	(2,075)	48,633
Fidelity Series Emerging Markets Fund	315,154	141,203	143,084	7,853	(9,449)	20,872	324,696
Fidelity Series Emerging Markets Opportunities Fund	1,395,401	474,786	601,247	36,252	(46,089)	77,568	1,300,419
Fidelity Series Floating Rate High Income Fund	35,970	5,392	12,148	3,111	(336)	308	29,186
Fidelity Series Government Money Market Fund 5.42%	3,101,330	471,766	2,327,072	109,563	-	-	1,246,024
Fidelity Series Growth Company Fund	366,740	195,111	199,664	10,753	11,101	88,980	462,268
Fidelity Series High Income Fund	190,964	14,637	52,317	11,093	(6,135)	11,078	158,227
Fidelity Series International Credit Fund	15,198	678	-	678	-	1,053	16,929
Fidelity Series International Developed Markets Bond Index Fund	1,380,465	111,509	365,582	45,993	(35,073)	58,287	1,149,606
Fidelity Series International Growth Fund	672,075	130,109	287,531	7,716	4,979	51,272	570,904
Fidelity Series International Small Cap Fund	187,392	371,164	205,432	18,146	3,746	82,698	439,568
Fidelity Series International Value Fund	676,210	103,535	283,771	19,208	23,027	48,292	567,293
Fidelity Series Intrinsic Opportunities Fund	73,289	47,874	35,591	15,218	(1,949)	1,366	84,989
Fidelity Series Investment Grade Bond Fund	14,506,058	1,955,336	4,082,251	565,562	(365,813)	551,939	12,565,269
Fidelity Series Large Cap Stock Fund	344,741	195,386	175,148	17,339	14,349	54,426	433,754
Fidelity Series Large Cap Value Index Fund	107,891	65,017	53,028	4,407	3,335	9,978	133,193
Fidelity Series Long-Term Treasury Bond Index Fund	1,345,046	315,601	839,863	38,261	(271,014)	226,379	776,149
Fidelity Series Opportunistic Insights Fund	218,577	103,514	115,074	2,135	8,618	57,082	272,717
Fidelity Series Overseas Fund	673,053	107,175	279,153	9,814	33,009	32,484	566,568
Fidelity Series Real Estate Income Fund	50,182	3,304	24,609	2,368	(2,167)	2,205	28,915
Fidelity Series Short-Term Credit Fund	641,551	23,506	354,879	16,189	(4,314)	19,200	325,064
Fidelity Series Small Cap Core Fund	658	11,122	151	62	19	1,101	12,749
Fidelity Series Small Cap Discovery Fund	31,556	18,269	15,436	3,012	409	664	35,462
Fidelity Series Small Cap Opportunities Fund	105,079	47,774	41,896	1,055	1,956	21,274	134,187
Fidelity Series Stock Selector Large Cap Value Fund	240,009	154,552	127,645	17,121	5,095	25,107	297,118
Fidelity Series Value Discovery Fund	215,117	138,519	103,716	11,194	1,812	13,195	264,927
	35,134,891	6,331,710	13,322,311	1,236,219	(691,479)	1,702,438	29,155,249

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of July 31, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:
Domestic Equity Funds	2,711,729	2,711,729	-	-
International Equity Funds	3,971,624	3,971,624	-	-
Bond Funds	20,900,808	20,900,808	-	-
Short-Term Funds	1,571,088	1,571,088	-	-
Total Investments in Securities:	29,155,249	29,155,249	-	-

Fidelity Simplicity RMD Income Fund℠

Financial Statements

Statement of Assets and Liabilities
As of July 31, 2024
Assets
Investment in securities, at value  - See accompanying schedule:
Affiliated issuers (cost $29,519,646)	$	29,155,249
Total Investment in Securities (cost $29,519,646)			$	29,155,249
Cash				215
Receivable for investments sold				198,521
Total assets				29,353,985
Liabilities
Payable for investments purchased	$	101,044
Payable for fund shares redeemed		97,477
Accrued management fee		11,192
Other payables and accrued expenses		7
Total liabilities				209,720
Net Assets			$	29,144,265
Net Assets consist of:
Paid in capital			$	31,243,429
Total accumulated earnings (loss)				(2,099,164)
Net Assets			$	29,144,265
Net Asset Value, offering price and redemption price per share ($29,144,265 ÷ 516,309 shares)			$	56.45

Statement of Operations
Year ended July 31, 2024
Investment Income
Dividends:
Affiliated issuers			$	1,166,703
Expenses
Management fee	$	143,976
Independent trustees' fees and expenses		96
Miscellaneous		259
Total expenses before reductions		144,331
Expense reductions		(8)
Total expenses after reductions				144,323
Net Investment income (loss)				1,022,380
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Affiliated issuers		(691,479)
Capital gain distributions from underlying funds:
Affiliated issuers		69,516
Total net realized gain (loss)				(621,963)
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Affiliated issuers		1,702,438
Total change in net unrealized appreciation (depreciation)				1,702,438
Net gain (loss)				1,080,475
Net increase (decrease) in net assets resulting from operations			$	2,102,855

Statement of Changes in Net Assets
		Year ended July 31, 2024		Year ended July 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	1,022,380	$	1,469,983
Net realized gain (loss)		(621,963)		(863,475)
Change in net unrealized appreciation (depreciation)		1,702,438		(475,115)
Net increase (decrease) in net assets resulting from operations		2,102,855		131,393
Distributions to shareholders		(986,396)		(2,081,134)
Share transactions
Proceeds from sales of shares		642,495		1,555,588
Reinvestment of distributions		856,507		1,826,862
Cost of shares redeemed		(8,605,623)		(6,832,236)
Net increase (decrease) in net assets resulting from share transactions		(7,106,621)		(3,449,786)
Total increase (decrease) in net assets		(5,990,162)		(5,399,527)
Net Assets
Beginning of period		35,134,427		40,533,954
End of period	$	29,144,265	$	35,134,427
Other Information
Shares
Sold		11,898		28,765
Issued in reinvestment of distributions		15,756		34,369
Redeemed		(158,926)		(127,752)
Net increase (decrease)		(131,272)		(64,618)

Financial Highlights

 

Fidelity Simplicity RMD Income Fund℠

Years ended July 31,		2024		2023		2022		2021		2020
Selected Per-Share Data
Net asset value, beginning of period	$	54.25	$	56.91	$	64.40	$	61.11	$	58.52
Income from Investment Operations
Net investment income (loss) A,B		1.770		2.156		1.542		.572		.950
Net realized and unrealized gain (loss)		2.117		(1.812)		(6.196)		4.418		3.181
Total from investment operations		3.887		.344		(4.654)		4.990		4.131
Distributions from net investment income		(1.682)		(2.108)		(1.516)		(.562)		(1.020)
Distributions from net realized gain		(.005)		(.896)		(1.320)		(1.138)		(.521)
Total distributions		(1.687)		(3.004)		(2.836)		(1.700)		(1.541)
Net asset value, end of period	$	56.45	$	54.25	$	56.91	$	64.40	$	61.11
Total Return C		7.32 %		.84%		(7.54)%		8.26%		7.19%
Ratios to Average Net Assets B,D,E
Expenses before reductions		.46%		.46%		.46%		.46%		.46%
Expenses net of fee waivers, if any		.46 %		.46%		.46%		.46%		.46%
Expenses net of all reductions		.46%		.46%		.46%		.46%		.46%
Net investment income (loss)		3.27%		4.02%		2.56%		.91%		1.62%
Supplemental Data
Net assets, end of period (000 omitted)	$	29,144	$	35,134	$	40,534	$	46,223	$	39,908
Portfolio turnover rate F		20 %		21%		59%		37%		42% G

ACalculated based on average shares outstanding during the period.

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

EExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

FAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

GThe portfolio turnover rate does not include the assets acquired in the merger.

Fidelity Simplicity RMD 2010 Fund℠

Schedule of Investments July 31, 2024

Showing Percentage of Net Assets  

Domestic Equity Funds - 14.4%
	Shares	Value ($)
Fidelity Series All-Sector Equity Fund (a)	3,953	48,858
Fidelity Series Blue Chip Growth Fund (a)	7,133	136,452
Fidelity Series Commodity Strategy Fund (a)	914	85,674
Fidelity Series Growth Company Fund (a)	10,638	256,798
Fidelity Series Intrinsic Opportunities Fund (a)	3,906	47,694
Fidelity Series Large Cap Stock Fund (a)	10,426	242,720
Fidelity Series Large Cap Value Index Fund (a)	4,505	74,199
Fidelity Series Opportunistic Insights Fund (a)	6,439	151,189
Fidelity Series Small Cap Core Fund (a)	570	7,079
Fidelity Series Small Cap Discovery Fund (a)	1,666	19,754
Fidelity Series Small Cap Opportunities Fund (a)	4,636	75,287
Fidelity Series Stock Selector Large Cap Value Fund (a)	11,446	165,515
Fidelity Series Value Discovery Fund (a)	9,178	147,584
TOTAL DOMESTIC EQUITY FUNDS  (Cost $1,088,878)		1,458,803

International Equity Funds - 17.0%
	Shares	Value ($)
Fidelity Series Canada Fund (a)	6,109	96,281
Fidelity Series Emerging Markets Fund (a)	14,466	132,363
Fidelity Series Emerging Markets Opportunities Fund (a)	28,243	530,119
Fidelity Series International Growth Fund (a)	14,665	271,881
Fidelity Series International Small Cap Fund (a)	8,380	151,938
Fidelity Series International Value Fund (a)	20,636	270,331
Fidelity Series Overseas Fund (a)	18,697	269,985
TOTAL INTERNATIONAL EQUITY FUNDS  (Cost $1,402,631)		1,722,898

Bond Funds - 65.6%
	Shares	Value ($)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (a)	151,150	1,464,642
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (a)	40,844	316,541
Fidelity Series Emerging Markets Debt Fund (a)	6,733	53,259
Fidelity Series Emerging Markets Debt Local Currency Fund (a)	1,847	16,715
Fidelity Series Floating Rate High Income Fund (a)	1,127	10,116
Fidelity Series High Income Fund (a)	6,429	54,843
Fidelity Series International Credit Fund (a)	446	3,663
Fidelity Series International Developed Markets Bond Index Fund (a)	46,139	400,950
Fidelity Series Investment Grade Bond Fund (a)	397,549	4,007,294
Fidelity Series Long-Term Treasury Bond Index Fund (a)	51,553	292,308
Fidelity Series Real Estate Income Fund (a)	1,016	10,029
TOTAL BOND FUNDS  (Cost $7,168,084)		6,630,360

Short-Term Funds - 3.0%
	Shares	Value ($)
Fidelity Series Government Money Market Fund 5.42% (a)(b)	243,899	243,899
Fidelity Series Short-Term Credit Fund (a)	6,031	60,069
TOTAL SHORT-TERM FUNDS  (Cost $303,316)		303,968

TOTAL INVESTMENT IN SECURITIES - 100.0%  (Cost $9,962,909)	10,116,029
NET OTHER ASSETS (LIABILITIES) - 0.0%	(4,007)
NET ASSETS - 100.0%	10,112,022

Legend

(a) Affiliated Fund  

(b) The rate quoted is the annualized seven-day yield of the fund at period end.  

Affiliated Underlying Funds

Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	1,370,749	408,010	345,459	47,722	(4,014)	35,356	1,464,642
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	373,188	54,820	104,105	14,886	(21,979)	14,617	316,541
Fidelity Series All-Sector Equity Fund	43,510	15,117	16,735	3,209	1,709	5,257	48,858
Fidelity Series Blue Chip Growth Fund	120,315	38,992	57,863	670	6,220	28,788	136,452
Fidelity Series Canada Fund	97,819	23,838	32,182	3,246	2,606	4,200	96,281
Fidelity Series Commodity Strategy Fund	76,903	39,112	23,093	3,065	(1,139)	(6,109)	85,674
Fidelity Series Emerging Markets Debt Fund	52,727	10,651	12,721	3,340	(385)	2,987	53,259
Fidelity Series Emerging Markets Debt Local Currency Fund	17,887	3,988	4,028	1,212	(345)	(787)	16,715
Fidelity Series Emerging Markets Fund	117,156	54,990	45,691	2,999	(2,950)	8,858	132,363
Fidelity Series Emerging Markets Opportunities Fund	496,992	204,394	190,538	13,846	(12,235)	31,506	530,119
Fidelity Series Floating Rate High Income Fund	10,343	2,932	3,147	994	(62)	50	10,116
Fidelity Series Government Money Market Fund 5.42%	662,457	189,013	607,571	23,072	-	-	243,899
Fidelity Series Growth Company Fund	224,043	79,052	106,488	6,716	9,604	50,587	256,798
Fidelity Series High Income Fund	55,481	10,692	13,021	3,555	(602)	2,293	54,843
Fidelity Series International Credit Fund	3,288	147	-	147	-	228	3,663
Fidelity Series International Developed Markets Bond Index Fund	401,763	83,620	91,556	14,999	(3,621)	10,744	400,950
Fidelity Series International Growth Fund	277,999	69,442	105,347	3,526	2,613	27,174	271,881
Fidelity Series International Small Cap Fund	77,606	103,991	54,530	5,604	488	24,383	151,938
Fidelity Series International Value Fund	279,712	61,690	107,338	8,779	7,643	28,624	270,331
Fidelity Series Intrinsic Opportunities Fund	44,738	21,660	18,118	9,339	(1,364)	778	47,694
Fidelity Series Investment Grade Bond Fund	3,785,894	1,038,886	880,424	165,545	(23,365)	86,303	4,007,294
Fidelity Series Large Cap Stock Fund	210,602	80,166	88,122	10,923	4,522	35,552	242,720
Fidelity Series Large Cap Value Index Fund	65,882	26,931	26,298	2,788	1,229	6,455	74,199
Fidelity Series Long-Term Treasury Bond Index Fund	417,947	134,646	247,016	13,084	(70,866)	57,597	292,308
Fidelity Series Opportunistic Insights Fund	133,510	36,905	59,422	1,358	4,384	35,812	151,189
Fidelity Series Overseas Fund	278,404	60,818	103,692	4,485	5,201	29,254	269,985
Fidelity Series Real Estate Income Fund	14,361	2,096	6,542	792	(649)	763	10,029
Fidelity Series Short-Term Credit Fund	122,634	15,804	81,378	3,240	(740)	3,749	60,069
Fidelity Series Small Cap Core Fund	413	6,110	90	36	11	635	7,079
Fidelity Series Small Cap Discovery Fund	19,238	8,318	8,571	1,749	60	709	19,754
Fidelity Series Small Cap Opportunities Fund	64,164	19,847	22,435	659	1,066	12,645	75,287
Fidelity Series Stock Selector Large Cap Value Fund	146,606	65,400	63,985	10,501	1,996	15,498	165,515
Fidelity Series Value Discovery Fund	131,397	60,610	52,812	7,021	1,398	6,991	147,584
	10,195,728	3,032,688	3,580,318	393,107	(93,566)	561,497	10,116,029

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of July 31, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:
Domestic Equity Funds	1,458,803	1,458,803	-	-
International Equity Funds	1,722,898	1,722,898	-	-
Bond Funds	6,630,360	6,630,360	-	-
Short-Term Funds	303,968	303,968	-	-
Total Investments in Securities:	10,116,029	10,116,029	-	-

Fidelity Simplicity RMD 2010 Fund℠

Financial Statements

Statement of Assets and Liabilities
As of July 31, 2024
Assets
Investment in securities, at value  - See accompanying schedule:
Affiliated issuers (cost $9,962,909)	$	10,116,029
Total Investment in Securities (cost $9,962,909)			$	10,116,029
Cash				32
Receivable for investments sold				62,165
Total assets				10,178,226
Liabilities
Payable for investments purchased	$	57,395
Payable for fund shares redeemed		4,770
Accrued management fee		4,039
Total liabilities				66,204
Net Assets			$	10,112,022
Net Assets consist of:
Paid in capital			$	10,398,061
Total accumulated earnings (loss)				(286,039)
Net Assets			$	10,112,022
Net Asset Value, offering price and redemption price per share ($10,112,022 ÷ 190,583 shares)			$	53.06

Statement of Operations
Year ended July 31, 2024
Investment Income
Dividends:
Affiliated issuers			$	352,464
Expenses
Management fee	$	48,350
Independent trustees' fees and expenses		30
Miscellaneous		60
Total expenses before reductions		48,440
Expense reductions		(1)
Total expenses after reductions				48,439
Net Investment income (loss)				304,025
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Affiliated issuers		(93,566)
Capital gain distributions from underlying funds:
Affiliated issuers		40,643
Total net realized gain (loss)				(52,923)
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Affiliated issuers		561,497
Total change in net unrealized appreciation (depreciation)				561,497
Net gain (loss)				508,574
Net increase (decrease) in net assets resulting from operations			$	812,599

Statement of Changes in Net Assets
		Year ended July 31, 2024		Year ended July 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	304,025	$	385,326
Net realized gain (loss)		(52,923)		(232,060)
Change in net unrealized appreciation (depreciation)		561,497		33,404
Net increase (decrease) in net assets resulting from operations		812,599		186,670
Distributions to shareholders		(289,788)		(562,742)
Share transactions
Proceeds from sales of shares		1,198,169		411,764
Reinvestment of distributions		243,266		495,959
Cost of shares redeemed		(2,047,775)		(1,742,440)
Net increase (decrease) in net assets resulting from share transactions		(606,340)		(834,717)
Total increase (decrease) in net assets		(83,529)		(1,210,789)
Net Assets
Beginning of period		10,195,551		11,406,340
End of period	$	10,112,022	$	10,195,551
Other Information
Shares
Sold		23,725		8,330
Issued in reinvestment of distributions		4,804		10,221
Redeemed		(40,300)		(35,173)
Net increase (decrease)		(11,771)		(16,622)

Financial Highlights

 

Fidelity Simplicity RMD 2010 Fund℠

Years ended July 31,		2024		2023		2022		2021		2020
Selected Per-Share Data
Net asset value, beginning of period	$	50.38	$	52.09	$	59.88	$	55.75	$	53.53
Income from Investment Operations
Net investment income (loss) A,B		1.525		1.837		1.444		.508		.888
Net realized and unrealized gain (loss)		2.604		(.873)		(6.454)		5.365		3.009
Total from investment operations		4.129		.964		(5.010)		5.873		3.897
Distributions from net investment income		(1.440)		(1.808)		(1.433)		(.533)		(.908)
Distributions from net realized gain		(.009)		(.866)		(1.347)		(1.210)		(.769)
Total distributions		(1.449)		(2.674)		(2.780)		(1.743)		(1.677)
Net asset value, end of period	$	53.06	$	50.38	$	52.09	$	59.88	$	55.75
Total Return C		8.36 %		2.17%		(8.77)%		10.69%		7.44%
Ratios to Average Net Assets B,D,E
Expenses before reductions		.48%		.49%		.49%		.50%		.51%
Expenses net of fee waivers, if any		.48 %		.49%		.49%		.50%		.51%
Expenses net of all reductions		.48%		.49%		.49%		.50%		.51%
Net investment income (loss)		3.02%		3.74%		2.58%		.88%		1.66%
Supplemental Data
Net assets, end of period (000 omitted)	$	10,112	$	10,196	$	11,406	$	14,826	$	11,105
Portfolio turnover rate F		30 %		24%		58%		32%		51%

ACalculated based on average shares outstanding during the period.

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

EExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

FAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

Fidelity Simplicity RMD 2015 Fund℠

Schedule of Investments July 31, 2024

Showing Percentage of Net Assets  

Domestic Equity Funds - 20.0%
	Shares	Value ($)
Fidelity Series All-Sector Equity Fund (a)	10,405	128,609
Fidelity Series Blue Chip Growth Fund (a)	18,861	360,810
Fidelity Series Commodity Strategy Fund (a)	1,715	160,735
Fidelity Series Growth Company Fund (a)	28,105	678,462
Fidelity Series Intrinsic Opportunities Fund (a)	10,296	125,715
Fidelity Series Large Cap Stock Fund (a)	27,490	639,959
Fidelity Series Large Cap Value Index Fund (a)	11,892	195,856
Fidelity Series Opportunistic Insights Fund (a)	17,023	399,712
Fidelity Series Small Cap Core Fund (a)	1,515	18,836
Fidelity Series Small Cap Discovery Fund (a)	4,396	52,139
Fidelity Series Small Cap Opportunities Fund (a)	12,225	198,537
Fidelity Series Stock Selector Large Cap Value Fund (a)	30,215	436,905
Fidelity Series Value Discovery Fund (a)	24,226	389,556
TOTAL DOMESTIC EQUITY FUNDS  (Cost $2,759,021)		3,785,831

International Equity Funds - 20.7%
	Shares	Value ($)
Fidelity Series Canada Fund (a)	14,811	233,428
Fidelity Series Emerging Markets Fund (a)	31,511	288,327
Fidelity Series Emerging Markets Opportunities Fund (a)	61,519	1,154,717
Fidelity Series International Growth Fund (a)	35,553	659,155
Fidelity Series International Small Cap Fund (a)	15,815	286,733
Fidelity Series International Value Fund (a)	50,019	655,254
Fidelity Series Overseas Fund (a)	45,324	654,475
TOTAL INTERNATIONAL EQUITY FUNDS  (Cost $3,146,318)		3,932,089

Bond Funds - 59.2%
	Shares	Value ($)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (a)	174,316	1,689,121
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (a)	140,570	1,089,420
Fidelity Series Emerging Markets Debt Fund (a)	12,664	100,176
Fidelity Series Emerging Markets Debt Local Currency Fund (a)	3,433	31,073
Fidelity Series Floating Rate High Income Fund (a)	2,112	18,963
Fidelity Series High Income Fund (a)	12,054	102,819
Fidelity Series International Credit Fund (a)	590	4,852
Fidelity Series International Developed Markets Bond Index Fund (a)	86,603	752,581
Fidelity Series Investment Grade Bond Fund (a)	678,316	6,837,417
Fidelity Series Long-Term Treasury Bond Index Fund (a)	104,350	591,667
Fidelity Series Real Estate Income Fund (a)	1,906	18,813
TOTAL BOND FUNDS  (Cost $12,291,441)		11,236,902

Short-Term Funds - 0.1%
	Shares	Value ($)
Fidelity Series Government Money Market Fund 5.42% (a)(b)	22,895	22,895
Fidelity Series Short-Term Credit Fund (a)	541	5,389
TOTAL SHORT-TERM FUNDS  (Cost $28,117)		28,284

TOTAL INVESTMENT IN SECURITIES - 100.0%  (Cost $18,224,897)	18,983,106
NET OTHER ASSETS (LIABILITIES) - 0.0%	(8,174)
NET ASSETS - 100.0%	18,974,932

Legend

(a) Affiliated Fund  

(b) The rate quoted is the annualized seven-day yield of the fund at period end.  

Affiliated Underlying Funds

Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	1,754,493	438,793	540,555	55,692	(11,126)	47,516	1,689,121
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	1,403,066	133,899	417,346	51,409	(90,999)	60,800	1,089,420
Fidelity Series All-Sector Equity Fund	140,072	23,971	54,068	8,814	4,316	14,318	128,609
Fidelity Series Blue Chip Growth Fund	387,380	56,609	177,542	2,038	23,726	70,637	360,810
Fidelity Series Canada Fund	271,760	35,117	88,701	8,147	18,546	(3,294)	233,428
Fidelity Series Commodity Strategy Fund	169,211	65,388	58,785	6,370	(5,152)	(9,927)	160,735
Fidelity Series Emerging Markets Debt Fund	115,939	13,455	33,650	6,599	(6,318)	10,750	100,176
Fidelity Series Emerging Markets Debt Local Currency Fund	39,471	4,646	10,661	2,359	(1,146)	(1,237)	31,073
Fidelity Series Emerging Markets Fund	294,538	105,728	121,625	6,771	(11,200)	20,886	288,327
Fidelity Series Emerging Markets Opportunities Fund	1,282,993	357,668	514,409	31,253	(38,751)	67,216	1,154,717
Fidelity Series Floating Rate High Income Fund	22,527	4,641	8,179	1,955	(18)	(8)	18,963
Fidelity Series Government Money Market Fund 5.42%	948,979	223,118	1,149,202	21,832	-	-	22,895
Fidelity Series Growth Company Fund	721,414	134,731	337,918	19,712	45,888	114,347	678,462
Fidelity Series High Income Fund	121,117	15,246	36,451	6,991	(3,984)	6,891	102,819
Fidelity Series International Credit Fund	4,356	194	-	194	-	302	4,852
Fidelity Series International Developed Markets Bond Index Fund	884,599	123,115	268,946	28,821	(22,285)	36,098	752,581
Fidelity Series International Growth Fund	772,323	103,825	287,127	8,855	(1,846)	71,980	659,155
Fidelity Series International Small Cap Fund	214,488	153,871	122,952	10,762	1,691	39,635	286,733
Fidelity Series International Value Fund	777,066	104,920	313,599	22,049	27,445	59,422	655,254
Fidelity Series Intrinsic Opportunities Fund	144,024	46,240	58,122	29,515	(10,239)	3,812	125,715
Fidelity Series Investment Grade Bond Fund	7,508,282	1,419,167	2,178,580	295,616	(165,807)	254,355	6,837,417
Fidelity Series Large Cap Stock Fund	678,138	133,674	273,745	32,842	35,487	66,405	639,959
Fidelity Series Large Cap Value Index Fund	212,109	46,230	81,211	7,918	7,607	11,121	195,856
Fidelity Series Long-Term Treasury Bond Index Fund	971,051	185,576	529,142	27,545	(189,208)	153,390	591,667
Fidelity Series Opportunistic Insights Fund	429,898	55,886	195,571	3,878	17,578	91,921	399,712
Fidelity Series Overseas Fund	773,447	93,417	293,304	11,264	32,603	48,312	654,475
Fidelity Series Real Estate Income Fund	30,434	2,834	14,459	1,504	(1,165)	1,169	18,813
Fidelity Series Short-Term Credit Fund	135,521	7,821	140,256	2,349	(153)	2,456	5,389
Fidelity Series Small Cap Core Fund	1,712	16,101	754	103	53	1,724	18,836
Fidelity Series Small Cap Discovery Fund	61,904	16,556	27,915	4,759	(47)	1,641	52,139
Fidelity Series Small Cap Opportunities Fund	206,570	35,924	78,788	1,982	687	34,144	198,537
Fidelity Series Stock Selector Large Cap Value Fund	472,070	124,991	204,902	28,863	4,947	39,799	436,905
Fidelity Series Value Discovery Fund	423,083	118,583	171,679	19,762	5,887	13,682	389,556
	22,374,035	4,401,935	8,790,144	768,523	(332,983)	1,330,263	18,983,106

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of July 31, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:
Domestic Equity Funds	3,785,831	3,785,831	-	-
International Equity Funds	3,932,089	3,932,089	-	-
Bond Funds	11,236,902	11,236,902	-	-
Short-Term Funds	28,284	28,284	-	-
Total Investments in Securities:	18,983,106	18,983,106	-	-

Fidelity Simplicity RMD 2015 Fund℠

Financial Statements

Statement of Assets and Liabilities
As of July 31, 2024
Assets
Investment in securities, at value  - See accompanying schedule:
Affiliated issuers (cost $18,224,897)	$	18,983,106
Total Investment in Securities (cost $18,224,897)			$	18,983,106
Cash				2
Receivable for investments sold				142,764
Total assets				19,125,872
Liabilities
Payable for investments purchased	$	138,704
Payable for fund shares redeemed		4,060
Accrued management fee		8,176
Total liabilities				150,940
Net Assets			$	18,974,932
Net Assets consist of:
Paid in capital			$	19,688,855
Total accumulated earnings (loss)				(713,923)
Net Assets			$	18,974,932
Net Asset Value, offering price and redemption price per share ($18,974,932 ÷ 312,768 shares)			$	60.67

Statement of Operations
Year ended July 31, 2024
Investment Income
Dividends:
Affiliated issuers			$	652,368
Expenses
Management fee	$	103,222
Independent trustees' fees and expenses		61
Miscellaneous		92
Total expenses				103,375
Net Investment income (loss)				548,993
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Affiliated issuers		(332,983)
Capital gain distributions from underlying funds:
Affiliated issuers		116,155
Total net realized gain (loss)				(216,828)
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Affiliated issuers		1,330,263
Total change in net unrealized appreciation (depreciation)				1,330,263
Net gain (loss)				1,113,435
Net increase (decrease) in net assets resulting from operations			$	1,662,428

Statement of Changes in Net Assets
		Year ended July 31, 2024		Year ended July 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	548,993	$	850,935
Net realized gain (loss)		(216,828)		(911,479)
Change in net unrealized appreciation (depreciation)		1,330,263		681,526
Net increase (decrease) in net assets resulting from operations		1,662,428		620,982
Distributions to shareholders		(530,828)		(1,400,178)
Share transactions
Proceeds from sales of shares		771,599		1,485,316
Reinvestment of distributions		455,624		1,225,964
Cost of shares redeemed		(5,757,442)		(6,476,135)
Net increase (decrease) in net assets resulting from share transactions		(4,530,219)		(3,764,855)
Total increase (decrease) in net assets		(3,398,619)		(4,544,051)
Net Assets
Beginning of period		22,373,551		26,917,602
End of period	$	18,974,932	$	22,373,551
Other Information
Shares
Sold		14,050		26,943
Issued in reinvestment of distributions		7,950		22,653
Redeemed		(102,193)		(117,741)
Net increase (decrease)		(80,193)		(68,145)

Financial Highlights

 

Fidelity Simplicity RMD 2015 Fund℠

Years ended July 31,		2024		2023		2022		2021		2020
Selected Per-Share Data
Net asset value, beginning of period	$	56.94	$	58.38	$	68.21	$	61.80	$	59.41
Income from Investment Operations
Net investment income (loss) A,B		1.579		1.947		1.629		.565		.947
Net realized and unrealized gain (loss)		3.675		(.246)		(7.886)		7.894		3.526
Total from investment operations		5.254		1.701		(6.257)		8.459		4.473
Distributions from net investment income		(1.510)		(1.901)		(1.569)		(.598)		(.987)
Distributions from net realized gain		(.014)		(1.240)		(2.004)		(1.451)		(1.096)
Total distributions		(1.524)		(3.141)		(3.573)		(2.049)		(2.083)
Net asset value, end of period	$	60.67	$	56.94	$	58.38	$	68.21	$	61.80
Total Return C		9.41 %		3.32%		(9.69)%		13.92%		7.71%
Ratios to Average Net Assets B,D,E
Expenses before reductions		.52%		.53%		.54%		.55%		.55%
Expenses net of fee waivers, if any		.52 %		.53%		.54%		.55%		.55%
Expenses net of all reductions		.52%		.53%		.54%		.55%		.55%
Net investment income (loss)		2.76%		3.54%		2.58%		.86%		1.60%
Supplemental Data
Net assets, end of period (000 omitted)	$	18,975	$	22,374	$	26,918	$	31,376	$	21,546
Portfolio turnover rate F		22 %		27%		58%		30%		48%

ACalculated based on average shares outstanding during the period.

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

EExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

FAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

Fidelity Simplicity RMD 2020 Fund℠

Schedule of Investments July 31, 2024

Showing Percentage of Net Assets  

Domestic Equity Funds - 25.4%
	Shares	Value ($)
Fidelity Series All-Sector Equity Fund (a)	33,596	415,248
Fidelity Series Blue Chip Growth Fund (a)	60,962	1,166,205
Fidelity Series Commodity Strategy Fund (a)	4,300	402,905
Fidelity Series Growth Company Fund (a)	90,842	2,192,919
Fidelity Series Intrinsic Opportunities Fund (a)	32,966	402,517
Fidelity Series Large Cap Stock Fund (a)	88,833	2,068,028
Fidelity Series Large Cap Value Index Fund (a)	38,436	633,044
Fidelity Series Opportunistic Insights Fund (a)	55,023	1,291,946
Fidelity Series Small Cap Core Fund (a)	5,109	63,509
Fidelity Series Small Cap Discovery Fund (a)	14,209	168,523
Fidelity Series Small Cap Opportunities Fund (a)	39,508	641,603
Fidelity Series Stock Selector Large Cap Value Fund (a)	97,660	1,412,159
Fidelity Series Value Discovery Fund (a)	78,304	1,259,129
TOTAL DOMESTIC EQUITY FUNDS  (Cost $9,032,968)		12,117,735

International Equity Funds - 24.4%
	Shares	Value ($)
Fidelity Series Canada Fund (a)	45,517	717,348
Fidelity Series Emerging Markets Fund (a)	90,043	823,891
Fidelity Series Emerging Markets Opportunities Fund (a)	175,795	3,299,666
Fidelity Series International Growth Fund (a)	109,260	2,025,675
Fidelity Series International Small Cap Fund (a)	39,658	719,007
Fidelity Series International Value Fund (a)	153,629	2,012,546
Fidelity Series Overseas Fund (a)	139,217	2,010,287
TOTAL INTERNATIONAL EQUITY FUNDS  (Cost $9,476,666)		11,608,420

Bond Funds - 50.1%
	Shares	Value ($)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (a)	164,033	1,589,475
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (a)	511,939	3,967,524
Fidelity Series Emerging Markets Debt Fund (a)	31,840	251,853
Fidelity Series Emerging Markets Debt Local Currency Fund (a)	8,534	77,233
Fidelity Series Floating Rate High Income Fund (a)	5,290	47,501
Fidelity Series High Income Fund (a)	30,256	258,086
Fidelity Series International Credit Fund (a)	1,364	11,215
Fidelity Series International Developed Markets Bond Index Fund (a)	216,931	1,885,128
Fidelity Series Investment Grade Bond Fund (a)	1,318,475	13,290,223
Fidelity Series Long-Term Treasury Bond Index Fund (a)	424,387	2,406,277
Fidelity Series Real Estate Income Fund (a)	4,778	47,164
TOTAL BOND FUNDS  (Cost $26,539,044)		23,831,679

Short-Term Funds - 0.1%
	Shares	Value ($)
Fidelity Series Government Money Market Fund 5.42% (a)(b)	39,354	39,354
Fidelity Series Short-Term Credit Fund (a)	311	3,101
TOTAL SHORT-TERM FUNDS  (Cost $42,366)		42,455

TOTAL INVESTMENT IN SECURITIES - 100.0%  (Cost $45,091,044)	47,600,289
NET OTHER ASSETS (LIABILITIES) - 0.0%	(22,008)
NET ASSETS - 100.0%	47,578,281

Legend

(a) Affiliated Fund  

(b) The rate quoted is the annualized seven-day yield of the fund at period end.  

Affiliated Underlying Funds

Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)
Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund	1,165,201	721,349	327,869	46,092	(143)	30,937	1,589,475
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	4,656,207	623,769	1,217,151	184,202	(153,602)	58,301	3,967,524
Fidelity Series All-Sector Equity Fund	434,244	69,593	150,170	29,224	4,417	57,164	415,248
Fidelity Series Blue Chip Growth Fund	1,201,012	190,387	537,534	6,563	75,643	236,697	1,166,205
Fidelity Series Canada Fund	773,096	131,500	238,312	25,320	31,438	19,626	717,348
Fidelity Series Commodity Strategy Fund	397,323	170,931	128,529	15,485	(8,779)	(28,041)	402,905
Fidelity Series Emerging Markets Debt Fund	272,798	38,970	71,441	16,297	(9,100)	20,626	251,853
Fidelity Series Emerging Markets Debt Local Currency Fund	92,119	14,173	23,196	5,919	(2,089)	(3,774)	77,233
Fidelity Series Emerging Markets Fund	816,164	266,614	289,572	19,599	(21,635)	52,320	823,891
Fidelity Series Emerging Markets Opportunities Fund	3,432,574	992,210	1,226,224	90,472	(106,001)	207,107	3,299,666
Fidelity Series Floating Rate High Income Fund	52,711	12,768	17,914	4,824	195	(259)	47,501
Fidelity Series Government Money Market Fund 5.42%	1,333,176	388,664	1,682,486	26,047	-	-	39,354
Fidelity Series Growth Company Fund	2,236,693	448,840	1,023,405	65,302	108,446	422,345	2,192,919
Fidelity Series High Income Fund	283,321	44,511	77,435	17,275	(4,816)	12,505	258,086
Fidelity Series International Credit Fund	10,068	449	-	449	-	698	11,215
Fidelity Series International Developed Markets Bond Index Fund	2,077,665	382,727	609,126	72,238	(27,883)	61,745	1,885,128
Fidelity Series International Growth Fund	2,197,576	367,617	767,860	27,518	10,741	217,601	2,025,675
Fidelity Series International Small Cap Fund	607,567	293,239	272,773	26,913	(7,537)	98,511	719,007
Fidelity Series International Value Fund	2,211,035	339,241	814,435	68,521	72,898	203,807	2,012,546
Fidelity Series Intrinsic Opportunities Fund	446,486	132,367	160,073	92,972	(26,547)	10,284	402,517
Fidelity Series Investment Grade Bond Fund	15,174,171	2,523,968	4,590,831	603,994	(269,085)	452,000	13,290,223
Fidelity Series Large Cap Stock Fund	2,102,506	364,003	736,604	106,774	101,178	236,945	2,068,028
Fidelity Series Large Cap Value Index Fund	657,597	135,190	222,565	26,445	18,197	44,625	633,044
Fidelity Series Long-Term Treasury Bond Index Fund	2,622,826	1,184,367	1,318,121	88,103	(343,472)	260,677	2,406,277
Fidelity Series Opportunistic Insights Fund	1,332,855	171,678	574,194	12,970	44,675	316,932	1,291,946
Fidelity Series Overseas Fund	2,200,770	305,325	757,590	35,005	73,335	188,447	2,010,287
Fidelity Series Real Estate Income Fund	73,607	7,670	34,260	3,672	(3,432)	3,579	47,164
Fidelity Series Short-Term Credit Fund	66,864	8,882	73,771	1,152	(167)	1,293	3,101
Fidelity Series Small Cap Core Fund	4,588	54,234	1,392	340	107	5,972	63,509
Fidelity Series Small Cap Discovery Fund	191,883	47,719	77,586	15,432	3,306	3,201	168,523
Fidelity Series Small Cap Opportunities Fund	640,394	118,250	234,749	6,428	3,117	114,591	641,603
Fidelity Series Stock Selector Large Cap Value Fund	1,463,612	365,197	564,736	95,714	27,161	120,925	1,412,159
Fidelity Series Value Discovery Fund	1,311,726	364,317	482,431	65,879	12,816	52,701	1,259,129
	52,540,435	11,280,719	19,304,335	1,903,140	(396,618)	3,480,088	47,600,289

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of July 31, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:
Domestic Equity Funds	12,117,735	12,117,735	-	-
International Equity Funds	11,608,420	11,608,420	-	-
Bond Funds	23,831,679	23,831,679	-	-
Short-Term Funds	42,455	42,455	-	-
Total Investments in Securities:	47,600,289	47,600,289	-	-

Fidelity Simplicity RMD 2020 Fund℠

Financial Statements

Statement of Assets and Liabilities
As of July 31, 2024
Assets
Investment in securities, at value  - See accompanying schedule:
Affiliated issuers (cost $45,091,044)	$	47,600,289
Total Investment in Securities (cost $45,091,044)			$	47,600,289
Cash				206
Receivable for investments sold				416,381
Receivable for fund shares sold				16
Total assets				48,016,892
Liabilities
Payable for investments purchased	$	401,543
Payable for fund shares redeemed		14,854
Accrued management fee		22,214
Total liabilities				438,611
Net Assets			$	47,578,281
Net Assets consist of:
Paid in capital			$	47,953,477
Total accumulated earnings (loss)				(375,196)
Net Assets			$	47,578,281
Net Asset Value, offering price and redemption price per share ($47,578,281 ÷ 753,294 shares)			$	63.16

Statement of Operations
Year ended July 31, 2024
Investment Income
Dividends:
Affiliated issuers			$	1,527,573
Expenses
Management fee	$	274,828
Independent trustees' fees and expenses		149
Miscellaneous		193
Total expenses before reductions		275,170
Expense reductions		(7)
Total expenses after reductions				275,163
Net Investment income (loss)				1,252,410
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Affiliated issuers		(396,618)
Capital gain distributions from underlying funds:
Affiliated issuers		375,567
Total net realized gain (loss)				(21,051)
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Affiliated issuers		3,480,088
Total change in net unrealized appreciation (depreciation)				3,480,088
Net gain (loss)				3,459,037
Net increase (decrease) in net assets resulting from operations			$	4,711,447

Statement of Changes in Net Assets
		Year ended July 31, 2024		Year ended July 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	1,252,410	$	1,722,629
Net realized gain (loss)		(21,051)		(1,903,256)
Change in net unrealized appreciation (depreciation)		3,480,088		2,107,511
Net increase (decrease) in net assets resulting from operations		4,711,447		1,926,884
Distributions to shareholders		(1,214,497)		(3,243,749)
Share transactions
Proceeds from sales of shares		3,071,647		3,392,453
Reinvestment of distributions		1,114,269		3,036,491
Cost of shares redeemed		(12,643,969)		(11,007,930)
Net increase (decrease) in net assets resulting from share transactions		(8,458,053)		(4,578,986)
Total increase (decrease) in net assets		(4,961,103)		(5,895,851)
Net Assets
Beginning of period		52,539,384		58,435,235
End of period	$	47,578,281	$	52,539,384
Other Information
Shares
Sold		52,344		60,470
Issued in reinvestment of distributions		18,873		55,248
Redeemed		(214,346)		(198,222)
Net increase (decrease)		(143,129)		(82,504)

Financial Highlights

 

Fidelity Simplicity RMD 2020 Fund℠

Years ended July 31,		2024		2023		2022		2021		2020
Selected Per-Share Data
Net asset value, beginning of period	$	58.61	$	59.69	$	70.79	$	62.18	$	59.88
Income from Investment Operations
Net investment income (loss) A,B		1.505		1.853		1.637		.586		.930
Net realized and unrealized gain (loss)		4.486		.496		(8.714)		9.999		3.672
Total from investment operations		5.991		2.349		(7.077)		10.585		4.602
Distributions from net investment income		(1.422)		(1.819)		(1.614)		(.617)		(.966)
Distributions from net realized gain		(.019)		(1.610)		(2.409)		(1.358)		(1.336)
Total distributions		(1.441)		(3.429)		(4.023)		(1.975)		(2.302)
Net asset value, end of period	$	63.16	$	58.61	$	59.69	$	70.79	$	62.18
Total Return C		10.41 %		4.45%		(10.63)%		17.29%		7.88%
Ratios to Average Net Assets B,D,E
Expenses before reductions		.56%		.57%		.58%		.59%		.60%
Expenses net of fee waivers, if any		.56 %		.57%		.58%		.59%		.60%
Expenses net of all reductions		.56%		.57%		.58%		.59%		.60%
Net investment income (loss)		2.55%		3.31%		2.51%		.87%		1.57%
Supplemental Data
Net assets, end of period (000 omitted)	$	47,578	$	52,539	$	58,435	$	67,611	$	49,365
Portfolio turnover rate F		23 %		30%		62%		34%		48%

ACalculated based on average shares outstanding during the period.

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

EExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

FAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

Fidelity Simplicity RMD 2025 Fund℠

Schedule of Investments July 31, 2024

Showing Percentage of Net Assets  

Domestic Equity Funds - 30.0%
	Shares	Value ($)
Fidelity Series All-Sector Equity Fund (a)	9,818	121,356
Fidelity Series Blue Chip Growth Fund (a)	17,849	341,450
Fidelity Series Commodity Strategy Fund (a)	1,061	99,397
Fidelity Series Growth Company Fund (a)	26,567	641,317
Fidelity Series Intrinsic Opportunities Fund (a)	9,559	116,720
Fidelity Series Large Cap Stock Fund (a)	25,950	604,118
Fidelity Series Large Cap Value Index Fund (a)	11,225	184,882
Fidelity Series Opportunistic Insights Fund (a)	16,106	378,172
Fidelity Series Small Cap Core Fund (a)	1,466	18,225
Fidelity Series Small Cap Discovery Fund (a)	4,150	49,218
Fidelity Series Small Cap Opportunities Fund (a)	11,441	185,804
Fidelity Series Stock Selector Large Cap Value Fund (a)	28,522	412,423
Fidelity Series Value Discovery Fund (a)	22,869	367,732
TOTAL DOMESTIC EQUITY FUNDS  (Cost $2,757,877)		3,520,814

International Equity Funds - 27.5%
	Shares	Value ($)
Fidelity Series Canada Fund (a)	12,934	203,840
Fidelity Series Emerging Markets Fund (a)	24,422	223,462
Fidelity Series Emerging Markets Opportunities Fund (a)	47,680	894,946
Fidelity Series International Growth Fund (a)	31,047	575,616
Fidelity Series International Small Cap Fund (a)	9,761	176,961
Fidelity Series International Value Fund (a)	43,680	572,208
Fidelity Series Overseas Fund (a)	39,576	571,478
TOTAL INTERNATIONAL EQUITY FUNDS  (Cost $2,785,948)		3,218,511

Bond Funds - 42.6%
	Shares	Value ($)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (a)	140,004	1,085,028
Fidelity Series Emerging Markets Debt Fund (a)	7,890	62,410
Fidelity Series Emerging Markets Debt Local Currency Fund (a)	2,067	18,711
Fidelity Series Floating Rate High Income Fund (a)	1,303	11,697
Fidelity Series High Income Fund (a)	7,444	63,499
Fidelity Series International Credit Fund (a)	369	3,030
Fidelity Series International Developed Markets Bond Index Fund (a)	52,489	456,132
Fidelity Series Investment Grade Bond Fund (a)	250,154	2,521,548
Fidelity Series Long-Term Treasury Bond Index Fund (a)	133,855	758,956
Fidelity Series Real Estate Income Fund (a)	1,178	11,632
TOTAL BOND FUNDS  (Cost $5,546,860)		4,992,643

TOTAL INVESTMENT IN SECURITIES - 100.1%  (Cost $11,090,685)	11,731,968
NET OTHER ASSETS (LIABILITIES) - (0.1)%	(5,893)
NET ASSETS - 100.0%	11,726,075

Legend

(a) Affiliated Fund  

Affiliated Underlying Funds

Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	944,353	385,804	229,357	42,757	(15,238)	(534)	1,085,028
Fidelity Series All-Sector Equity Fund	109,440	32,058	36,745	7,729	(20)	16,623	121,356
Fidelity Series Blue Chip Growth Fund	302,681	91,189	136,075	1,719	9,366	74,289	341,450
Fidelity Series Canada Fund	186,008	58,964	55,118	6,343	247	13,739	203,840
Fidelity Series Commodity Strategy Fund	84,462	50,137	27,092	3,400	(595)	(7,515)	99,397
Fidelity Series Emerging Markets Debt Fund	58,061	17,164	15,411	3,700	(1,560)	4,156	62,410
Fidelity Series Emerging Markets Debt Local Currency Fund	19,445	5,611	5,034	1,298	(297)	(1,014)	18,711
Fidelity Series Emerging Markets Fund	188,998	125,075	98,451	4,711	(6,665)	14,505	223,462
Fidelity Series Emerging Markets Opportunities Fund	802,391	325,657	261,826	21,747	(26,367)	55,091	894,946
Fidelity Series Floating Rate High Income Fund	11,196	4,398	3,876	1,093	38	(59)	11,697
Fidelity Series Government Money Market Fund 5.42%	145,790	39,653	185,443	1,510	-	-	-
Fidelity Series Growth Company Fund	563,700	193,460	258,744	17,323	6,711	136,190	641,317
Fidelity Series High Income Fund	60,152	18,564	16,967	3,918	(991)	2,741	63,499
Fidelity Series International Credit Fund	2,720	122	-	121	-	188	3,030
Fidelity Series International Developed Markets Bond Index Fund	431,880	146,523	129,253	16,276	(4,562)	11,544	456,132
Fidelity Series International Growth Fund	528,793	170,324	181,451	6,892	1,629	56,321	575,616
Fidelity Series International Small Cap Fund	145,466	69,287	56,309	5,841	(4,162)	22,679	176,961
Fidelity Series International Value Fund	532,013	161,202	194,870	17,171	7,606	66,257	572,208
Fidelity Series Intrinsic Opportunities Fund	112,526	48,877	40,983	24,431	(4,633)	933	116,720
Fidelity Series Investment Grade Bond Fund	2,828,311	804,896	1,141,033	113,833	(95,062)	124,436	2,521,548
Fidelity Series Large Cap Stock Fund	529,879	163,165	181,969	27,376	6,287	86,756	604,118
Fidelity Series Large Cap Value Index Fund	165,731	57,215	55,479	6,901	694	16,721	184,882
Fidelity Series Long-Term Treasury Bond Index Fund	609,688	477,443	310,328	23,585	(57,975)	40,128	758,956
Fidelity Series Opportunistic Insights Fund	335,916	89,370	143,843	3,377	813	95,916	378,172
Fidelity Series Overseas Fund	529,558	152,756	179,310	8,768	996	67,478	571,478
Fidelity Series Real Estate Income Fund	15,623	3,672	7,710	833	(352)	399	11,632
Fidelity Series Short-Term Credit Fund	4,034	31	4,056	30	42	(51)	-
Fidelity Series Small Cap Core Fund	1,060	15,745	385	94	26	1,779	18,225
Fidelity Series Small Cap Discovery Fund	48,357	19,241	20,056	4,253	(679)	2,355	49,218
Fidelity Series Small Cap Opportunities Fund	161,389	51,161	59,295	1,682	(66)	32,615	185,804
Fidelity Series Stock Selector Large Cap Value Fund	368,872	144,679	141,728	25,329	(77)	40,677	412,423
Fidelity Series Value Discovery Fund	330,588	138,485	119,793	17,251	193	18,259	367,732
	11,159,081	4,061,928	4,297,990	421,292	(184,653)	993,602	11,731,968

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of July 31, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:
Domestic Equity Funds	3,520,814	3,520,814	-	-
International Equity Funds	3,218,511	3,218,511	-	-
Bond Funds	4,992,643	4,992,643	-	-
Total Investments in Securities:	11,731,968	11,731,968	-	-

Fidelity Simplicity RMD 2025 Fund℠

Financial Statements

Statement of Assets and Liabilities
As of July 31, 2024
Assets
Investment in securities, at value  - See accompanying schedule:
Affiliated issuers (cost $11,090,685)	$	11,731,968
Total Investment in Securities (cost $11,090,685)			$	11,731,968
Receivable for investments sold				109,628
Total assets				11,841,596
Liabilities
Payable for investments purchased	$	94,844
Payable for fund shares redeemed		14,783
Accrued management fee		5,894
Total liabilities				115,521
Net Assets			$	11,726,075
Net Assets consist of:
Paid in capital			$	11,741,554
Total accumulated earnings (loss)				(15,479)
Net Assets			$	11,726,075
Net Asset Value, offering price and redemption price per share ($11,726,075 ÷ 1,025,947 shares)			$	11.43

Statement of Operations
Year ended July 31, 2024
Investment Income
Dividends:
Affiliated issuers			$	322,937
Expenses
Management fee	$	68,008
Independent trustees' fees and expenses		33
Miscellaneous		69
Total expenses				68,110
Net Investment income (loss)				254,827
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Affiliated issuers		(184,653)
Capital gain distributions from underlying funds:
Affiliated issuers		98,355
Total net realized gain (loss)				(86,298)
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Affiliated issuers		993,602
Total change in net unrealized appreciation (depreciation)				993,602
Net gain (loss)				907,304
Net increase (decrease) in net assets resulting from operations			$	1,162,131

Statement of Changes in Net Assets
		Year ended July 31, 2024		Year ended July 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	254,827	$	316,447
Net realized gain (loss)		(86,298)		(185,474)
Change in net unrealized appreciation (depreciation)		993,602		478,610
Net increase (decrease) in net assets resulting from operations		1,162,131		609,583
Distributions to shareholders		(245,693)		(551,378)
Share transactions
Proceeds from sales of shares		2,209,638		2,145,106
Reinvestment of distributions		237,808		530,200
Cost of shares redeemed		(2,796,609)		(2,478,871)
Net increase (decrease) in net assets resulting from share transactions		(349,163)		196,435
Total increase (decrease) in net assets		567,275		254,640
Net Assets
Beginning of period		11,158,800		10,904,160
End of period	$	11,726,075	$	11,158,800
Other Information
Shares
Sold		206,132		222,343
Issued in reinvestment of distributions		22,429		54,701
Redeemed		(265,768)		(252,694)
Net increase (decrease)		(37,207)		24,350

Financial Highlights

 

Fidelity Simplicity RMD 2025 Fund℠

Years ended July 31,		2024		2023		2022		2021		2020 A
Selected Per-Share Data
Net asset value, beginning of period	$	10.50	$	10.50	$	12.57	$	10.77	$	10.00
Income from Investment Operations
Net investment income (loss) B,C		.243		.299		.269		.088		.118
Net realized and unrealized gain (loss)		.920		.236		(1.561)		2.054		.822
Total from investment operations		1.163		.535		(1.292)		2.142		.940
Distributions from net investment income		(.229)		(.301)		(.283)		(.106)		(.134)
Distributions from net realized gain		(.004)		(.234)		(.495)		(.236)		(.036)
Total distributions		(.233)		(.535)		(.778)		(.342)		(.170)
Net asset value, end of period	$	11.43	$	10.50	$	10.50	$	12.57	$	10.77
Total Return D		11.26 %		5.63%		(11.01)%		20.21%		9.45%
Ratios to Average Net Assets C,E,F
Expenses before reductions		.61%		.61%		.62%		.63%		.64% G
Expenses net of fee waivers, if any		.61 %		.61%		.62%		.63%		.64% G
Expenses net of all reductions		.61%		.61%		.62%		.63%		.64% G
Net investment income (loss)		2.29%		3.01%		2.35%		.74%		1.21% G
Supplemental Data
Net assets, end of period (000 omitted)	$	11,726	$	11,159	$	10,904	$	11,399	$	5,676
Portfolio turnover rate H		36 %		40%		79%		66%		54% G

AFor the period August 16, 2019 (commencement of operations) through July 31, 2020.

BCalculated based on average shares outstanding during the period.

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

DTotal returns for periods of less than one year are not annualized.

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

GAnnualized.

HAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

Fidelity Simplicity RMD 2030 Fund℠

Schedule of Investments July 31, 2024

Showing Percentage of Net Assets  

Domestic Equity Funds - 34.0%
	Shares	Value ($)
Fidelity Series All-Sector Equity Fund (a)	754	9,320
Fidelity Series Blue Chip Growth Fund (a)	1,377	26,344
Fidelity Series Commodity Strategy Fund (a)	72	6,732
Fidelity Series Growth Company Fund (a)	2,048	49,434
Fidelity Series Intrinsic Opportunities Fund (a)	734	8,960
Fidelity Series Large Cap Stock Fund (a)	1,997	46,481
Fidelity Series Large Cap Value Index Fund (a)	864	14,237
Fidelity Series Opportunistic Insights Fund (a)	1,242	29,172
Fidelity Series Small Cap Core Fund (a)	116	1,438
Fidelity Series Small Cap Discovery Fund (a)	320	3,790
Fidelity Series Small Cap Opportunities Fund (a)	875	14,205
Fidelity Series Stock Selector Large Cap Value Fund (a)	2,196	31,759
Fidelity Series Value Discovery Fund (a)	1,761	28,318
TOTAL DOMESTIC EQUITY FUNDS  (Cost $210,293)		270,190

International Equity Funds - 30.1%
	Shares	Value ($)
Fidelity Series Canada Fund (a)	977	15,401
Fidelity Series Emerging Markets Fund (a)	1,787	16,352
Fidelity Series Emerging Markets Opportunities Fund (a)	3,489	65,487
Fidelity Series International Growth Fund (a)	2,346	43,490
Fidelity Series International Small Cap Fund (a)	664	12,031
Fidelity Series International Value Fund (a)	3,301	43,242
Fidelity Series Overseas Fund (a)	2,991	43,192
TOTAL INTERNATIONAL EQUITY FUNDS  (Cost $205,301)		239,195

Bond Funds - 36.0%
	Shares	Value ($)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (a)	5,231	40,542
Fidelity Series Emerging Markets Debt Fund (a)	536	4,239
Fidelity Series Emerging Markets Debt Local Currency Fund (a)	140	1,265
Fidelity Series Floating Rate High Income Fund (a)	88	793
Fidelity Series High Income Fund (a)	506	4,316
Fidelity Series International Developed Markets Bond Index Fund (a)	3,539	30,756
Fidelity Series Investment Grade Bond Fund (a)	14,765	148,831
Fidelity Series Long-Term Treasury Bond Index Fund (a)	9,685	54,911
Fidelity Series Real Estate Income Fund (a)	80	788
TOTAL BOND FUNDS  (Cost $285,042)		286,441

TOTAL INVESTMENT IN SECURITIES - 100.1%  (Cost $700,636)	795,826
NET OTHER ASSETS (LIABILITIES) - (0.1)%	(425)
NET ASSETS - 100.0%	795,401

Legend

(a) Affiliated Fund  

Affiliated Underlying Funds

Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)
Fidelity Series 5+ Year Inflation-Protected Bond Index Fund	28,016	25,956	13,288	1,409	(439)	297	40,542
Fidelity Series All-Sector Equity Fund	7,332	4,654	3,956	548	229	1,061	9,320
Fidelity Series Blue Chip Growth Fund	20,277	13,015	13,260	113	1,596	4,716	26,344
Fidelity Series Canada Fund	12,082	8,199	6,001	421	44	1,077	15,401
Fidelity Series Commodity Strategy Fund	4,959	4,851	2,586	195	(225)	(267)	6,732
Fidelity Series Emerging Markets Debt Fund	3,380	2,270	1,589	235	(1)	179	4,239
Fidelity Series Emerging Markets Debt Local Currency Fund	1,132	731	523	79	(3)	(72)	1,265
Fidelity Series Emerging Markets Fund	12,590	9,504	6,414	303	(161)	833	16,352
Fidelity Series Emerging Markets Opportunities Fund	50,240	38,842	26,151	1,399	(446)	3,002	65,487
Fidelity Series Floating Rate High Income Fund	655	504	364	69	-	(2)	793
Fidelity Series Government Money Market Fund 5.42%	8,111	2,134	10,245	83	-	-	-
Fidelity Series Growth Company Fund	37,763	25,329	24,682	1,170	2,371	8,653	49,434
Fidelity Series High Income Fund	3,519	2,402	1,727	249	4	118	4,316
Fidelity Series International Developed Markets Bond Index Fund	25,297	18,204	13,173	1,036	(150)	578	30,756
Fidelity Series International Growth Fund	34,327	22,626	17,833	457	437	3,933	43,490
Fidelity Series International Small Cap Fund	9,389	6,714	5,237	346	93	1,072	12,031
Fidelity Series International Value Fund	34,547	23,102	20,028	1,140	405	5,216	43,242
Fidelity Series Intrinsic Opportunities Fund	7,538	7,159	5,725	1,567	(357)	345	8,960
Fidelity Series Investment Grade Bond Fund	147,280	93,007	93,664	6,373	(905)	3,113	148,831
Fidelity Series Large Cap Stock Fund	35,497	22,990	19,311	1,844	737	6,568	46,481
Fidelity Series Large Cap Value Index Fund	11,103	7,743	6,031	473	126	1,296	14,237
Fidelity Series Long-Term Treasury Bond Index Fund	38,354	44,236	26,811	1,618	(1,535)	667	54,911
Fidelity Series Opportunistic Insights Fund	22,503	13,853	14,369	230	1,249	5,936	29,172
Fidelity Series Overseas Fund	34,388	21,622	18,076	581	405	4,853	43,192
Fidelity Series Real Estate Income Fund	897	401	521	52	(20)	31	788
Fidelity Series Short-Term Credit Fund	654	4	657	5	2	(3)	-
Fidelity Series Small Cap Core Fund	77	1,315	97	7	2	141	1,438
Fidelity Series Small Cap Discovery Fund	3,240	2,410	2,005	327	30	115	3,790
Fidelity Series Small Cap Opportunities Fund	10,812	6,929	6,112	111	221	2,355	14,205
Fidelity Series Stock Selector Large Cap Value Fund	24,711	18,597	14,782	1,794	296	2,937	31,759
Fidelity Series Value Discovery Fund	22,146	17,655	13,085	1,193	6	1,596	28,318
	652,816	466,958	388,303	25,427	4,011	60,344	795,826

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of July 31, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:
Domestic Equity Funds	270,190	270,190	-	-
International Equity Funds	239,195	239,195	-	-
Bond Funds	286,441	286,441	-	-
Total Investments in Securities:	795,826	795,826	-	-

Fidelity Simplicity RMD 2030 Fund℠

Financial Statements

Statement of Assets and Liabilities
As of July 31, 2024
Assets
Investment in securities, at value  - See accompanying schedule:
Affiliated issuers (cost $700,636)	$	795,826
Total Investment in Securities (cost $700,636)			$	795,826
Cash				12
Receivable for investments sold				8,028
Total assets				803,866
Liabilities
Payable for investments purchased	$	8,028
Accrued management fee		437
Total liabilities				8,465
Net Assets			$	795,401
Net Assets consist of:
Paid in capital			$	691,189
Total accumulated earnings (loss)				104,212
Net Assets			$	795,401
Net Asset Value, offering price and redemption price per share ($795,401 ÷ 66,144 shares)			$	12.03

Statement of Operations
Year ended July 31, 2024
Investment Income
Dividends:
Affiliated issuers			$	18,723
Expenses
Management fee	$	4,620
Independent trustees' fees and expenses		2
Miscellaneous		7
Total expenses				4,629
Net Investment income (loss)				14,094
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Affiliated issuers		4,011
Capital gain distributions from underlying funds:
Affiliated issuers		6,704
Total net realized gain (loss)				10,715
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Affiliated issuers		60,344
Total change in net unrealized appreciation (depreciation)				60,344
Net gain (loss)				71,059
Net increase (decrease) in net assets resulting from operations			$	85,153

Statement of Changes in Net Assets
		Year ended July 31, 2024		For the period December 15, 2022 (commencement of operations) through July 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	14,094	$	1,985
Net realized gain (loss)		10,715		1,141
Change in net unrealized appreciation (depreciation)		60,344		34,846
Net increase (decrease) in net assets resulting from operations		85,153		37,972
Distributions to shareholders		(17,426)		(1,486)
Share transactions
Proceeds from sales of shares		345,523		636,085
Reinvestment of distributions		16,050		1,379
Cost of shares redeemed		(286,709)		(21,140)
Net increase (decrease) in net assets resulting from share transactions		74,864		616,324
Total increase (decrease) in net assets		142,591		652,810