Yes, permanent residents can open a Fidelity account, but you'll need a Social Security Number or Individual Taxpayer Identification Number

Fidelity does not restrict accounts based on immigration status. What matters is having a valid tax identification number and meeting their standard account requirements. Permanent residents (green card holders) typically use a Social Security Number, which you receive when you adjust status. If you don't have an SSN yet, you can use an Individual Taxpayer Identification Number (ITIN) instead.

The account opening process itself is the same as for U.S. citizens. You'll provide your identification number, verify your identity, and answer questions about your employment and investment experience. Fidelity will ask for your address and may request documentation to confirm it. The entire process usually takes 10 to 15 minutes online.

Key Takeaways

  • Permanent residents can open Fidelity brokerage, retirement, and savings accounts using either a Social Security Number or an ITIN.
  • You will need to verify your identity and provide a U.S. address during account setup.
  • Fidelity's account types and investment options are the same regardless of whether you're a citizen or permanent resident.
  • If you don't yet have an SSN, applying for an ITIN through the IRS allows you to open an account and invest.

What identification you'll need to provide

Fidelity requires a tax identification number to open any account. For permanent residents, this is usually your Social Security Number. If you haven't received an SSN yet, you can apply for an ITIN through the IRS. The ITIN process takes several weeks, but once you have it, Fidelity will accept it in place of an SSN.

You'll also need to provide a valid government-issued ID — typically your green card or passport — and a U.S. residential address. Fidelity uses this information to verify your identity and comply with anti-money-laundering rules. If your address is recent, they may ask for a utility bill or lease to confirm it.

Types of accounts available to permanent residents

Permanent residents can open the same account types as citizens: individual brokerage accounts, IRAs (both traditional and Roth), 401(k)s if your employer offers them, and savings accounts. There are no restrictions based on immigration status.

If you're self-employed or own a business, you can also open a SEP IRA or Solo 401(k). The contribution limits and tax treatment are identical to what citizens face. Fidelity's customer service team can walk you through which account type makes sense for your situation.

How the identity verification process works

When you start the account application online, Fidelity will ask for your name, date of birth, tax identification number, and address. They then run a verification check against public records. In most cases, this happens instantly and you can fund your account the same day.

If the automated check doesn't complete, Fidelity may ask you to upload a photo of your ID or provide additional documentation. This can add a few business days to the process. Once verified, you can begin investing or transferring money into your account.

Funding your account as a permanent resident

You can fund a Fidelity account through a bank transfer, check deposit, or wire transfer. Fidelity will provide you with routing and account numbers for ACH transfers, or you can mail a check. If you're transferring money from another brokerage, Fidelity can handle the transfer electronically.

There are no restrictions on where the money comes from based on your immigration status. If you're receiving income from a U.S. employer or self-employment, you can deposit it directly. If you're transferring funds from abroad, be aware that your bank may have its own rules about international transfers, but Fidelity's side has no additional requirements for permanent residents.

Tax reporting and permanent resident status

Fidelity reports your investment income to the IRS using your tax identification number, just as they do for all account holders. As a permanent resident, you're required to file U.S. tax returns on your worldwide income, so this reporting is part of your normal tax obligations.

If you have questions about how your investment income affects your taxes, a tax professional or CPA familiar with permanent resident taxation can advise you. Fidelity itself doesn't provide tax advice, but they do provide year-end statements and forms (like 1099s) that you'll need for filing.

What to do if you don't have an SSN yet

If you're a permanent resident but haven't received your Social Security Number, apply for an ITIN through the IRS. You can file Form W-7 with the IRS, either by mail or through an authorized ITIN agent. The process typically takes four to six weeks.

Once you have your ITIN, you can provide it to Fidelity during account setup. The account will work exactly the same way as if you had an SSN. You'll still need to file tax returns and report investment income, but the ITIN serves as your tax identification number for that purpose.

Frequently Asked Questions

Do I need a U.S. bank account to open a Fidelity account?

No. You can fund a Fidelity account with a wire transfer from any bank, domestic or international. However, ACH transfers (the most common funding method) require a U.S. bank account. If you don't have one yet, opening a basic checking account at a bank or credit union is straightforward for permanent residents.

Can I open a Roth IRA as a permanent resident?

Yes. Permanent residents can open and contribute to a Roth IRA as long as they have earned income and a tax identification number. The contribution limits and rules are the same as for citizens. You'll report the contributions on your tax return.

What if Fidelity asks for additional documentation?

If the automated verification doesn't complete, Fidelity will contact you with specific requests. This is normal and usually means they need a clearer photo of your ID or proof of your address. Respond promptly with what they ask for, and your account will be approved once they verify the information.

Can I invest in all the same funds and stocks as a citizen?

Yes. There are no investment restrictions based on immigration status. You have access to Fidelity's full range of stocks, mutual funds, ETFs, and other investments. Your account works identically to a citizen's account.