Prospectus - Investment Objective

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 811-02460

Fidelity Union Street Trust

(Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210

(Address of principal executive offices) (Zip code)

Nicole Macarchuk, 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:	August 31

Date of reporting period:	August 31, 2025

Item 1.

Reports to Stockholders


	ANNUAL SHAREHOLDER REPORT \| AS OF AUGUST 31, 2025
	Fidelity® Maryland Municipal Income Fund Fidelity® Maryland Municipal Income Fund : SMDMX

This annual shareholder report contains information about Fidelity® Maryland Municipal Income Fund for the period September 1, 2024 to August 31, 2025. 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® Maryland Municipal Income Fund	$ 55	0.55%

What affected the Fund's performance this period?

•Tax-exempt municipal bonds were essentially flat for the 12 months ending August 31, 2025, held back by heavy new-issue supply, the now-extinguished threat to munis' federal tax exemption, resurgent inflation, trade-related conflict and the U.S. Federal Reserve's late-January decision to pause further rate cuts in the near term.

•Against this backdrop, the fund's "carry" advantage, meaning its proportionately larger stake in higher-yielding bonds, contributed to performance versus the Bloomberg Maryland 2+ Year Enhanced Municipal Linked 08/01/2018 Index for the fiscal year.

•An underweight in bonds with a coupon of 4% also boosted the fund's relative result.

•In contrast, the fund's exposure to certain hospital bonds detracted from performance for the 12 months.

•An overweight in bonds with a duration (sensitivity to interest rates) of 20+ years and longer also hurt, as their yields rose.

•There were no major changes to the fund from the perspective of sector allocation, yield-curve positioning and credit-quality exposure during the past 12 months.

How did the Fund perform over the past 10 years?

CUMULATIVE PERFORMANCE

August 31, 2015 through August 31, 2025.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:

	1 Year	5 Year	10 Year
Fidelity® Maryland Municipal Income Fund	0.64%	0.52%	1.93%
Bloomberg Maryland 2+ Year Enhanced Municipal Linked Index	0.56%	0.06%	2.05%
Bloomberg Municipal Bond Index	0.08%	0.40%	2.18%

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 August 31, 2025)

KEY FACTS
Fund Size	$149,634,846
Number of Holdings	149
Total Advisory Fee	$851,539
Portfolio Turnover	22%

What did the Fund invest in?
(as of August 31, 2025)

REVENUE SOURCES (% of Fund's net assets)
General Obligations	35.6
Health Care	20.0
Special Tax	12.1
Transportation	10.2
Water & Sewer	9.4
Education	6.3
Housing	5.5
99.1

QUALITY DIVERSIFICATION (% of Fund's net assets)

	AAA - 24.7
	AA - 31.2
	A - 20.2
	BBB - 14.2
	B - 1.0
	Not Rated - 7.8
	Short-Term Investments and Net Other Assets (Liabilities) - 0.9

We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes.

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. © 2025 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 1.9913617.101 429-TSRA-1025


	ANNUAL SHAREHOLDER REPORT \| AS OF AUGUST 31, 2025
	Fidelity® Arizona Municipal Income Fund Fidelity® Arizona Municipal Income Fund : FSAZX

This annual shareholder report contains information about Fidelity® Arizona Municipal Income Fund for the period September 1, 2024 to August 31, 2025. 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® Arizona Municipal Income Fund	$ 55	0.55%

What affected the Fund's performance this period?

•Against this backdrop, the fund's exposure to certain hospital bonds detracted from performance versus the Bloomberg Arizona 2+ Year Enhanced Municipal Linked 08/01/2018 Index for the fiscal year.

•An overweight in bonds with a duration (interest-rate sensitivity) of 20 years and longer also hurt relative performance, as their yields rose this period.

•Pricing factors meaningfully detracted. Fund holdings are priced by a third-party pricing service and validated daily by Fidelity Management & Research's fair-value processes. Securities within the index, however, are priced by the index provider. These two approaches employ somewhat different methodologies in setting the prices of municipal securities, most of which trade infrequently.

•In contrast, the fund's "carry" advantage, meaning its proportionately larger stake in higher-yielding bonds, contributed to relative performance.

•There were no major changes to the fund from the perspective of sector allocation, yield-curve positioning and credit-quality exposure during the past 12 months

How did the Fund perform over the past 10 years?

CUMULATIVE PERFORMANCE

August 31, 2015 through August 31, 2025.

Initial investment of $10,000.

AVERAGE ANNUAL TOTAL RETURNS:

	1 Year	5 Year	10 Year
Fidelity® Arizona Municipal Income Fund	-0.07%	0.34%	1.96%
Bloomberg Arizona 2+ Year Enhanced Municipal Linked Index	0.63%	0.34%	2.19%
Bloomberg Municipal Bond Index	0.08%	0.40%	2.18%

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

Key Fund Statistics

(as of August 31, 2025)

KEY FACTS
Fund Size	$115,497,555
Number of Holdings	128
Total Advisory Fee	$650,909
Portfolio Turnover	22%

What did the Fund invest in?
(as of August 31, 2025)

REVENUE SOURCES (% of Fund's net assets)
General Obligations	29.5
Health Care	20.8
Education	15.5
Transportation	9.4
Special Tax	8.2
Water & Sewer	6.7
Others(Individually Less Than 5%)	7.5
97.6

QUALITY DIVERSIFICATION (% of Fund's net assets)

	AAA - 3.4
	AA - 60.3
	A - 22.6
	BBB - 7.4
	B - 0.4
	Not Rated - 3.5
	Short-Term Investments and Net Other Assets (Liabilities) - 2.4

We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes.

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. © 2025 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 1.9913618.101 434-TSRA-1025

Item 2.

Code of Ethics

As of the end of the period, August 31, 2025, Fidelity Union Street Trust (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 Laura M. Bishop is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Ms. Bishop 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 PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Arizona Municipal Income Fund and Fidelity Maryland Municipal Income Fund (the “Funds”):

Services Billed by PwC

August 31, 2025 Fees^A


	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Arizona Municipal Income Fund	$46,500	$3,100	$5,700	$1,300
Fidelity Maryland Municipal Income Fund	$46,500	$3,100	$5,700	$1,300

August 31, 2024 Fees^A


	Audit Fees	Audit-Related Fees	Tax Fees	All Other Fees
Fidelity Arizona Municipal Income Fund	$45,100	$3,700	$5,500	$1,600
Fidelity Maryland Municipal Income Fund	$45,100	$3,700	$5,500	$1,600

^AAmounts may reflect rounding.

The following table(s) present(s) fees billed by 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 PwC


	August 31, 2025^A	August 31, 2024^A
Audit-Related Fees	$9,680,100	$9,437,800
Tax Fees	$1,000	$61,000
All Other Fees	$0	$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 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	August 31, 2025^A	August 31, 2024^A
PwC	$14,657,800	$15,030,000

^A Amounts may reflect rounding.

The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by PwC to Fund Service Providers to be compatible with maintaining the independence of PwC in its(their) audit of the Fund(s), taking into account representations from 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® Maryland Municipal Income Fund

Annual Report

August 31, 2025

Contents

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

Fidelity® Maryland Municipal Income Fund

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Distributions

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Item 9: Proxy Disclosures for Open-End Management Investment Companies

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

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.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund 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 Fund nor Fidelity Distributors Corporation is a bank.

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

Fidelity® Maryland Municipal Income Fund

Schedule of Investments August 31, 2025

Showing Percentage of Net Assets

Municipal Securities - 99.1%
	Principal Amount (a)	Value ($)
District Of Columbia,Maryland,Virginia - 1.6%
Special Tax - 1.6%
Washington DC Met Area Tran Auth Rev Series 2017B, 5% 7/1/2033	2,000,000	2,062,303
Washington Metropolitan Area Transit Authority Series 2021 A, 3% 7/15/2036	400,000	356,206
		2,418,509
TOTAL DISTRICT OF COLUMBIA,MARYLAND,VIRGINIA		2,418,509
Guam - 1.1%
Special Tax - 0.6%
Guam Govt Business Privilege Tax Rev Series 2025 G, 5% 1/1/2031	825,000	890,831
Water & Sewer - 0.5%
Guam Govt Wtrwks Auth Wtr & Wst Rev Series 2025A, 5% 7/1/2032	640,000	702,721
TOTAL GUAM		1,593,552
Maryland - 95.2%
Education - 6.3%
Maryland Economic Dev Corp St (Morgan State Univ MD Academic & Aux Facs Fees Rev Proj.) 5.75% 7/1/2053	1,000,000	1,029,545
Maryland Economic Dev Corp St (Morgan State Univ MD Academic & Aux Facs Fees Rev Proj.) Series 2025A, 5% 7/1/2045 (Assured Guaranty Inc Insured)	1,325,000	1,335,157
Maryland Economic Dev Corp St (Towson University Student Housing Proj.) 5% 7/1/2026	350,000	354,558
Maryland Economic Dev Corp St (Towson University Student Housing Proj.) 5% 7/1/2036	500,000	503,180
Maryland Economic Dev Corp St (Umbc Stud Hsg Proj.) 5% 7/1/2028 (Assured Guaranty Inc Insured)	350,000	356,056
Maryland Economic Dev Corp St (Umbc Stud Hsg Proj.) 5% 7/1/2029 (Assured Guaranty Inc Insured)	700,000	711,449
Maryland Economic Dev Corp St (Umd Stud Hsg Proj.) 5% 6/1/2043 (Assured Guaranty Inc Insured)	575,000	575,171
Maryland Health & Higher Educational Facilities Authority (MD Inst College of Art Proj.) Series 2024, 5.25% 6/1/2044	1,000,000	963,374
Maryland Health & Higher Educational Facilities Authority (Stevenson University Proj.) Series 2021 A, 4% 6/1/2039	475,000	429,381
Maryland Health & Higher Educational Facilities Authority (Stevenson University Proj.) Series 2021 A, 4% 6/1/2040	500,000	442,809
Maryland Health & Higher Educational Facilities Authority (Stevenson University Proj.) Series 2021 A, 4% 6/1/2055	500,000	389,284
Maryland St Hlth & HI Ed Facs (MD Inst College of Art Proj.) Series 2016, 5% 6/1/2026	300,000	303,765
Maryland St Hlth & HI Ed Facs (MD Inst College of Art Proj.) Series 2016, 5% 6/1/2027	205,000	207,503
Maryland St Hlth & HI Ed Facs (MD Inst College of Art Proj.) Series 2016, 5% 6/1/2028	310,000	312,960
Maryland St Hlth & HI Ed Facs (MD Inst College of Art Proj.) Series 2016, 5% 6/1/2029	350,000	353,109
Westminster MD Edl Facs Rev (Mcdaniel College Proj.) 5% 11/1/2031	1,000,000	1,014,720
		9,282,021
General Obligations - 34.9%
Allegany Cnty MD Gen. Oblig. Series 2020, 2% 7/15/2040	545,000	370,148
Allegany Cnty MD Gen. Oblig. Series 2020, 2% 7/15/2041	555,000	363,372
Anne Arundel Cnty MD Gen. Oblig. Series 2021, 3% 10/1/2037	1,300,000	1,155,780
Anne Arundel Cnty MD Gen. Oblig. Series 2025, 5% 10/1/2045	1,000,000	1,036,758
Baltimore Cnty MD 5% 3/1/2041	1,500,000	1,603,256
Baltimore Cnty MD Gen. Oblig. Series 2017, 5% 11/1/2028	250,000	270,987
Baltimore Cnty MD Gen. Oblig. Series 2019, 4% 11/1/2033	1,805,000	1,849,446
Baltimore Cnty MD Gen. Oblig. Series 2019, 5% 3/1/2032	20,000	21,465
Baltimore Cnty MD Gen. Oblig. Series 2020, 5% 3/1/2028	555,000	592,273
Baltimore Cnty MD Gen. Oblig. Series 2020, 5% 3/1/2031	10,000	11,001
Baltimore Cnty MD Gen. Oblig. Series 2021, 3% 3/1/2037	1,000,000	902,353
Baltimore Cnty MD Gen. Oblig. Series 2021, 3% 3/1/2039	3,220,000	2,752,853
Baltimore Cnty MD Gen. Oblig. Series 2024A, 5% 7/1/2027	1,790,000	1,878,628
Baltimore Cnty MD Gen. Oblig. Series 2024A, 5% 7/1/2028	1,000,000	1,075,728
Baltimore Cnty MD Series 2024, 5% 2/1/2041	100,000	106,530
Calvert Cnty MD Gen. Oblig. Series 2020, 2% 7/1/2037	180,000	138,737
Calvert Cnty MD Gen. Oblig. Series 2020, 2% 7/1/2040	285,000	197,493
Calvert Cnty MD Gen. Oblig. Series 2020, 2.125% 7/1/2042	200,000	131,848
Calvert Cnty MD Gen. Oblig. Series 2020, 2.25% 7/1/2045	315,000	196,877
Charles Cnty MD Gen. Oblig. Series 2017, 2.8% 10/1/2031	1,105,000	1,089,903
Charles Cnty MD Gen. Oblig. Series 2017, 2.9% 10/1/2032	2,035,000	1,997,613
Charles Cnty MD Gen. Oblig. Series 2019, 3% 10/1/2033	1,000,000	964,031
Charles Cnty MD Gen. Oblig. Series 2020, 1.625% 10/1/2033	2,505,000	2,073,495
Charles Cnty MD Gen. Oblig. Series 2020, 2% 10/1/2037	630,000	481,074
Charles Cnty MD Gen. Oblig. Series 2020, 2% 10/1/2038	645,000	473,690
Charles Cnty MD Gen. Oblig. Series 2020, 2% 10/1/2039	655,000	465,987
Charles Cnty MD Gen. Oblig. Series 2020, 2% 10/1/2040	670,000	462,380
Charles Cnty MD Gen. Oblig. Series 2020, 2% 10/1/2041	475,000	315,994
Charles Cnty MD Gen. Oblig. Series 2020, 2.125% 10/1/2042	485,000	318,429
Charles Cnty MD Gen. Oblig. Series 2020, 2.125% 10/1/2043	495,000	315,996
City of Baltimore MD Gen. Oblig. Series 2020A, 4% 10/15/2033	2,005,000	2,060,589
City of Baltimore MD Gen. Oblig. Series 2022A, 5% 10/15/2036	1,565,000	1,702,913
City of Baltimore MD Gen. Oblig. Series 2022A, 5% 10/15/2037	15,000	16,175
Frederick Cnty MD Gen. Oblig. Series 2021 A, 1.5% 10/1/2033	2,000,000	1,634,678
Frederick Cnty MD Gen. Oblig. Series 2021 A, 1.75% 10/1/2037	2,000,000	1,455,279
Harford Cnty MD Series 2018, 2.85% 9/15/2031	1,820,000	1,800,888
Harford Cnty MD Series 2018, 2.95% 9/15/2032	1,045,000	1,029,588
Harford Cnty MD Series 2018, 3.05% 9/15/2034	260,000	248,554
Harford Cnty MD Series 2018, 3.15% 9/15/2036	670,000	621,490
Howard Cnty MD 5% 8/15/2036	490,000	549,616
Howard Cnty MD 5% 8/15/2037	545,000	604,361
Howard Cnty MD Gen. Oblig. Series 2021 A, 2% 8/15/2034	750,000	637,121
Howard Cnty MD Hsg Comm Lease Rev (Howard Cnty MD Proj.) 2% 6/1/2039	755,000	542,254
Maryland St Stad Auth Lease Rv (State of Maryland Proj.) Series 2019 C, 3% 12/15/2034	545,000	508,346
Montgomery Cnty MD Gen. Oblig. Series 2019 A, 4% 11/1/2033	3,000,000	3,073,871
Prince Georges County MD Gen. Oblig. Series 2018 A, 5% 7/15/2027	760,000	798,444
Prince Georges County MD Gen. Oblig. Series 2020 A, 5% 7/15/2034	1,010,000	1,060,408
Prince Georges County MD Gen. Oblig. Series 2020 B, 5% 9/15/2028	480,000	518,700
Prince Georges County MD Gen. Oblig. Series 2021 A, 2% 7/1/2035	1,000,000	813,523
Prince Georges County MD Series 2019 A, 5% 7/15/2028	285,000	306,786
Prince Georges Cty MD Ctf Part (Prince Georges County MD Proj.) 4% 10/1/2039	1,205,000	1,170,005
Prince Georges Cty MD Ctf Part (Prince Georges County MD Proj.) 4% 10/1/2040	1,255,000	1,211,983
Prince Georges Cty MD Ctf Part (Prince Georges County MD Proj.) Series 2018, 5% 10/1/2048	2,100,000	2,083,626
Salisbury MD Gen. Oblig. 3% 9/1/2030	305,000	304,749
St Marys Cnty MD Gen. Oblig. Series 2021, 2% 5/1/2036	780,000	604,609
State of Maryland Gen. Oblig. Series 2016, 3% 6/1/2031	1,085,000	1,082,095
Washington Suburban Sanitary Dist MD Series 2020, 2% 12/1/2039	1,000,000	705,085
Washington Suburban Sanitary Dist MD Series 2021, 2.125% 6/1/2037	2,000,000	1,578,281
		52,338,142
Health Care - 20.0%
Baltimore Cnty MD Crest Vlg (Oak Crest Village Inc Proj.) 4% 1/1/2045	1,750,000	1,487,406
Baltimore Cnty MD Crest Vlg (Oak Crest Village Inc Proj.) 4% 1/1/2050	2,400,000	1,940,179
Baltimore Cnty MD Crest Vlg (Riderwood Vlg Inc Proj.) 4% 1/1/2032	700,000	710,590
Baltimore Cnty MD Crest Vlg (Riderwood Vlg Inc Proj.) 4% 1/1/2033	1,200,000	1,211,218
Baltimore Cnty MD Crest Vlg (Riderwood Vlg Inc Proj.) 4% 1/1/2035	1,230,000	1,226,330
Baltimore Cnty MD Crest Vlg (Riderwood Vlg Inc Proj.) 4% 1/1/2037	1,500,000	1,454,600
Maryland Health & Higher Educational Facilities Authority (Frederick Memorial Hospital MD Proj.) Series 2020, 4% 7/1/2045	750,000	640,529
Maryland Health & Higher Educational Facilities Authority (Frederick Memorial Hospital MD Proj.) Series 2020, 4% 7/1/2050	1,000,000	814,427
Maryland Health & Higher Educational Facilities Authority (Frederick Memorial Hospital MD Proj.) Series 2023, 5% 7/1/2039	1,000,000	1,022,302
Maryland Health & Higher Educational Facilities Authority (Greater Baltimore Med Ctr, MD Proj.) Series 2021 A, 2.5% 7/1/2051	5,000,000	2,969,941
Maryland Health & Higher Educational Facilities Authority (Greater Baltimore Med Ctr, MD Proj.) Series 2021 A, 3% 7/1/2051	1,000,000	658,085
Maryland St Hlth & HI Ed Facs (Adventist Health Mid Atlantic Proj.) 5.5% 1/1/2031	1,500,000	1,539,098
Maryland St Hlth & HI Ed Facs (Lifebridge Health Proj.) Series 2016, 5% 7/1/2031	500,000	509,047
Maryland St Hlth & HI Ed Facs (Luminis Health Proj.) Series 2017A, 5% 7/1/2028	520,000	535,875
Maryland St Hlth & HI Ed Facs (Luminis Health Proj.) Series 2017A, 5% 7/1/2030	850,000	870,785
Maryland St Hlth & HI Ed Facs (Luminis Health Proj.) Series 2017A, 5% 7/1/2031	1,400,000	1,430,358
Maryland St Hlth & HI Ed Facs (Luminis Health Proj.) Series 2017A, 5% 7/1/2032	290,000	295,382
Maryland St Hlth & HI Ed Facs (MedStar Health Inc Proj.) Series 2013B, 5% 8/15/2038	2,000,000	2,000,942
Maryland St Hlth & HI Ed Facs (MedStar Health Inc Proj.) Series 2015, 4% 8/15/2045	320,000	275,591
Maryland St Hlth & HI Ed Facs (Mercy Medical Center, MD Proj.) 4% 7/1/2042	2,175,000	1,926,790
Maryland St Hlth & HI Ed Facs (Tidalhealth Proj.) 5% 7/1/2034	1,000,000	1,043,439
Maryland St Hlth & HI Ed Facs (Tidalhealth Proj.) 5% 7/1/2035	1,000,000	1,037,593
Maryland St Hlth & HI Ed Facs (Univ of Maryland Med Sys, MD Proj.) 5% 7/1/2031	2,200,000	2,201,977
Maryland St Hlth & HI Ed Facs (UPMC Proj.) 5% 4/15/2034	1,010,000	1,070,676
Maryland St Hlth & HI Ed Facs (UPMC Proj.) 5% 4/15/2035	1,000,000	1,053,232
		29,926,392
Housing - 5.5%
Maryland Community Development Administration (Residential Revenue Bonds Proj) 5% 3/1/2030	700,000	743,035
Maryland Community Development Administration (Residential Revenue Bonds Proj) 5% 3/1/2031	1,150,000	1,220,546
Maryland Community Development Administration (Residential Revenue Bonds Proj) 5% 9/1/2029	550,000	589,904
Maryland Community Development Administration (Residential Revenue Bonds Proj) Series 2021 B, 3% 9/1/2051	915,000	908,973
Maryland Community Development Administration (Residential Revenue Bonds Proj.) 3.5% 3/1/2050	600,000	601,451
Maryland Community Development Administration (Residential Revenue Bonds Proj.) Series 2019 B, 4% 9/1/2049	310,000	311,371
Maryland Community Development Administration Series 2020 A, 2.5% 9/1/2040	1,000,000	733,422
Maryland Community Development Administration Series 2020 A, 2.6% 3/1/2042	3,490,000	2,535,069
Montgomery Cnty MD Hsg Opptys Commn Rev Series 2023 C, 5.75% 1/1/2058	500,000	528,282
		8,172,053
Special Tax - 9.9%
Baltimore Hotel Corp 5% 9/1/2032	1,500,000	1,518,793
City of Baltimore MD (Baltimore Tif Res Ph1 Proj.) 5% 9/1/2038	1,650,000	1,650,136
Maryland St Dept Transn Cons Series 2019, 2.125% 10/1/2031	690,000	638,142
Maryland St Dept Transn Cons Series 2019, 2.5% 10/1/2033	770,000	704,683
Maryland St Dept Transn Cons Series 2021 A, 2% 10/1/2034	2,225,000	1,874,344
Maryland St Dept Transn Cons Series 2021 A, 3% 10/1/2032	740,000	729,163
Maryland St Stad Auth Rev (Baltimore City MD Stadium Auth Proj.) Series 2016, 5% 5/1/2030	1,715,000	1,739,077
Maryland St Stad Auth Rev (Baltimore City MD Stadium Auth Proj.) Series 2018 A, 5% 5/1/2036	1,580,000	1,636,106
State of Maryland Built to Learn Revenue Series 2021, 2.75% 6/1/2051	1,000,000	632,643
State of Maryland Built to Learn Revenue Series 2021, 4% 6/1/2046	1,000,000	881,192
State of Maryland Built to Learn Revenue Series 2021, 4% 6/1/2051	1,000,000	853,471
State of Maryland Built to Learn Revenue Series 2022 A, 4% 6/1/2036	1,875,000	1,893,595
		14,751,345
Transportation - 9.7%
Maryland Economic Development Corp (Purple Line Transit Partners Proj.) Series 2022B, 5% 6/30/2037 (b)	2,465,000	2,529,763
Maryland Economic Development Corp (Purple Line Transit Partners Proj.) Series 2022B, 5.25% 6/30/2055 (b)	1,000,000	942,565
Maryland St Dept Transn Spl Transn Proj Rev (Bwi Airport Proj.) 4% 8/1/2051 (b)	2,005,000	1,640,785
Maryland St Dept Transn Spl Transn Proj Rev (Bwi Airport Proj.) 5% 8/1/2046 (b)	2,000,000	1,965,353
Maryland St Econ Dev Corp Econ (Ports America Chesapeake LLC Proj.) Series 2017A, 5% 6/1/2029	1,850,000	1,930,809
Maryland St Econ Dev Corp Econ (Ports America Chesapeake LLC Proj.) Series 2019 A, 5% 6/1/2044 (b)	500,000	478,159
Maryland St Econ Dev Corp Econ (Ports America Chesapeake LLC Proj.) Series 2019 A, 5% 6/1/2049 (b)	1,000,000	924,044
Maryland St Transn Auth Transn 2.5% 7/1/2047	2,000,000	1,263,047
Maryland St Transn Auth Transn 3% 7/1/2037	1,620,000	1,429,940
MD St Econ Dev Corp Air Cargo (Afco Airport Real Estate Group, LLC Proj.) Series 2019, 5% 7/1/2027 (b)	200,000	206,620
MD St Econ Dev Corp Air Cargo (Afco Airport Real Estate Group, LLC Proj.) Series 2019, 5% 7/1/2028 (b)	630,000	661,791
MD St Econ Dev Corp Air Cargo (Afco Airport Real Estate Group, LLC Proj.) Series 2019, 5% 7/1/2029 (b)	585,000	623,164
		14,596,040
Water & Sewer - 8.9%
Baltimore MD Proj Rev (Baltimore Wastewater Util Rev Proj.) Series 2014C, 5% 7/1/2034	1,285,000	1,286,124
Baltimore MD Proj Rev (Baltimore Wastewater Util Rev Proj.) Series 2022A, 5% 7/1/2029	500,000	546,150
Baltimore MD Proj Rev (Baltimore Wtr Util Rev Proj.) Series 2014A, 5% 7/1/2033	3,000,000	3,003,052
Baltimore MD Proj Rev (Baltimore Wtr Util Rev Proj.) Series 2017 D, 5% 7/1/2031	5,260,000	5,397,611
Baltimore MD Proj Rev (Baltimore Wtr Util Rev Proj.) Series 2020 A, 5% 7/1/2030	310,000	343,330
Baltimore MD Proj Rev (Baltimore Wtr Util Rev Proj.) Series 2020 A, 5% 7/1/2050	2,490,000	2,499,683
Baltimore MD Proj Rev Series 2019A, 5% 7/1/2031	250,000	269,867
		13,345,817
TOTAL MARYLAND		142,411,810
Puerto Rico - 0.7%
General Obligations - 0.7%
Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 0% 7/1/2033	505,310	353,255
Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 5.625% 7/1/2027	55,000	56,869
Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 5.625% 7/1/2029	185,000	197,077
Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 5.75% 7/1/2031	445,000	488,030
		1,095,231
TOTAL PUERTO RICO		1,095,231
Virgin Islands - 0.5%
Transportation - 0.5%
Virgin Islands Transportation & Infrastructure Corp 5% 9/1/2033	275,000	303,866
Virgin Islands Transportation & Infrastructure Corp 5% 9/1/2042	430,000	437,452
		741,318
TOTAL VIRGIN ISLANDS		741,318
TOTAL MUNICIPAL SECURITIES (Cost $153,025,951)		148,260,420

TOTAL INVESTMENT IN SECURITIES - 99.1% (Cost $153,025,951)	148,260,420
NET OTHER ASSETS (LIABILITIES) - 0.9%	1,374,426
NET ASSETS - 100.0%	149,634,846

Legend

(a)	Amount is stated in United States dollars unless otherwise noted.

(b)	Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)	Shares, end of period	% ownership, end of period
Fidelity Municipal Cash Central Fund	9,404,253	32,115,425	41,519,678	135,756	-	-	-	-	0.0%
Total	9,404,253	32,115,425	41,519,678	135,756	-	-	-

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 August 31, 2025, 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:

Municipal Securities
Education	9,282,021	-	9,282,021	-
General Obligations	53,433,373	-	53,433,373	-
Health Care	29,926,392	-	29,926,392	-
Housing	8,172,053	-	8,172,053	-
Special Tax	18,060,685	-	18,060,685	-
Transportation	15,337,358	-	15,337,358	-
Water & Sewer	14,048,538	-	14,048,538	-

Total Investments in Securities:	148,260,420	-	148,260,420	-

Financial Statements

Statement of Assets and Liabilities
As of August 31, 2025
Assets
Investment in securities, at value - See accompanying schedule: Unaffiliated issuers (cost $153,025,951)			$	148,260,420
Cash				4,856
Receivable for fund shares sold				3,389
Interest receivable				1,624,527
Distributions receivable from Fidelity Central Funds				2,195
Total assets				149,895,387
Liabilities
Payable for fund shares redeemed	$	62,869
Distributions payable		128,801
Accrued management fee		68,871
Total liabilities				260,541
Net Assets			$	149,634,846
Net Assets consist of:
Paid in capital			$	158,693,471
Total accumulated earnings (loss)				(9,058,625)
Net Assets			$	149,634,846
Net Asset Value, offering price and redemption price per share ($149,634,846 ÷ 14,111,659 shares)			$	10.60

Statement of Operations
Year ended August 31, 2025
Investment Income
Interest			$	5,203,136
Income from Fidelity Central Funds				135,756
Total income				5,338,892
Expenses
Management fee	$	851,539
Independent trustees' fees and expenses		391
Total expenses before reductions		851,930
Expense reductions		(2)
Total expenses after reductions				851,928
Net Investment income (loss)				4,486,964
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers		(1,116,623)
Total net realized gain (loss)				(1,116,623)
Change in net unrealized appreciation (depreciation) on investment securities				(2,353,716)
Net gain (loss)				(3,470,339)
Net increase (decrease) in net assets resulting from operations			$	1,016,625

Statement of Changes in Net Assets

		Year ended August 31, 2025		Year ended August 31, 2024
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	4,486,964	$	4,710,328
Net realized gain (loss)		(1,116,623)		(1,250,921)
Change in net unrealized appreciation (depreciation)		(2,353,716)		7,026,903
Net increase (decrease) in net assets resulting from operations		1,016,625		10,486,310
Distributions to shareholders		(4,035,295)		(4,349,735)

Share transactions
Proceeds from sales of shares		18,640,647		47,273,341
Reinvestment of distributions		2,539,677		2,710,305
Cost of shares redeemed		(32,711,709)		(58,143,227)

Net increase (decrease) in net assets resulting from share transactions		(11,531,385)		(8,159,581)
Total increase (decrease) in net assets		(14,550,055)		(2,023,006)

Net Assets
Beginning of period		164,184,901		166,207,907
End of period	$	149,634,846	$	164,184,901

Other Information
Shares
Sold		1,758,206		4,576,210
Issued in reinvestment of distributions		237,616		255,950
Redeemed		(3,068,136)		(5,568,142)
Net increase (decrease)		(1,072,314)		(735,982)

Financial Highlights

Fidelity® Maryland Municipal Income Fund

Years ended August 31,		2025		2024		2023		2022		2021
Selected Per-Share Data
Net asset value, beginning of period	$	10.81	$	10.44	$	10.53	$	11.88	$	11.69
Income from Investment Operations
Net investment income (loss) A,B		.310		.293		.254		.233		.239
Net realized and unrealized gain (loss)		(.242)		.348		(.094)		(1.305)		.232
Total from investment operations		.068		.641		.160		(1.072)		.471
Distributions from net investment income		(.277)		(.271)		(.250)		(.234)		(.239)
Distributions from net realized gain		(.001)		-		-		(.044)		(.042)
Total distributions		(.278)		(.271)		(.250)		(.278)		(.281)
Net asset value, end of period	$	10.60	$	10.81	$	10.44	$	10.53	$	11.88
Total Return C		.64 %		6.22%		1.54%		(9.15)%		4.08%
Ratios to Average Net Assets B,D,E
Expenses before reductions		.55%		.55%		.55%		.55%		.55%
Expenses net of fee waivers, if any		.55 %		.55%		.55%		.55%		.55%
Expenses net of all reductions, if any		.55%		.55%		.55%		.55%		.55%
Net investment income (loss)		2.90%		2.77%		2.42%		2.08%		2.03%
Supplemental Data
Net assets, end of period (000 omitted)	$	149,635	$	164,185	$	166,208	$	176,348	$	232,515
Portfolio turnover rate F		22 %		15%		12%		10%		10%

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. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

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), derivatives or securities that mature within one year from acquisition.

Notes to Financial Statements

For the period ended August 31, 2025

1. Organization.

Fidelity Maryland Municipal Income Fund (the Fund) is a non-diversified fund of Fidelity Union Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund may be affected by economic and political developments in the state of Maryland.

2. Investments in Fidelity Central Funds.

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense RatioA
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Municipal securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of August 31, 2025 is included at the end of the Fund's Schedule of Investments.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Debt obligations may be placed on non-accrual status and related interest income may be reduced by ceasing current accruals and writing off interest receivables when the collection of all or a portion of interest has become doubtful based on consistently applied procedures. A debt obligation is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured.

Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of August 31, 2025, the Fund did not have any unrecognized tax benefits in the financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Distributions are declared and recorded daily and paid monthly from net investment income. Distributions from realized gains, if any, are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to market discount and capital loss carryforwards.

The Fund purchases municipal securities whose interest, in the opinion of the issuer, is free from federal income tax. There is no assurance that the IRS will agree with this opinion. In the event the IRS determines that the issuer does not comply with relevant tax requirements, interest payments from a security could become federally taxable, possibly retroactively to the date the security was issued.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$2,038,554
Gross unrealized depreciation	(5,916,729)
Net unrealized appreciation (depreciation)	$(3,878,175)
Tax Cost	$152,138,595

The tax-based components of distributable earnings as of period end were as follows:

Capital loss carryforward	$(5,157,985)
Net unrealized appreciation (depreciation) on securities and other investments	$(3,878,175)

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of fiscal period end and is subject to adjustment.

Short-term	$(243,378)
Long-term	(4,914,607)
Total capital loss carryforward	$(5,157,985)

The tax character of distributions paid was as follows:

	August 31, 2025	August 31, 2024
Tax-exempt Income	$4,020,672	$4,349,735
Ordinary Income	14,623	-
Total	$4,035,295	$ 4,349,735

New Accounting Pronouncements. FASB Accounting Standards Update (ASU) 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures became effective in this reporting period. ASU 2023-07 enhances segment information disclosure in the notes to financial statements.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid. The ASU allows for early adoption and amendments should be applied on a prospective basis. Management is currently evaluating the impact of the ASU but does not expect this guidance to materially impact the financial statements.

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Maryland Municipal Income Fund	32,297,651	32,599,794

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .55% of the Fund's average net assets. Under the management contract, the investment adviser pays all other expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense. The management fee is reduced by an amount equal to the fees and expenses paid by the Fund to the independent Trustees.

Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.

6. Committed Line of Credit.

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR plus a .10% spread adjustment, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2026 unless extended or renewed.

7. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $2.

8. Other.

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

9. Risk and Uncertainties.

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Union Street Trust and Shareholders of Fidelity Maryland Municipal Income Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Maryland Municipal Income Fund (one of the funds constituting Fidelity Union Street Trust, referred to hereafter as the "Fund") as of August 31, 2025, the related statement of operations for the year ended August 31, 2025, the statement of changes in net assets for each of the two years in the period ended August 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended August 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2025 and the financial highlights for each of the five years in the period ended August 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2025 by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

October 13, 2025

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Distributions

(Unaudited)

The dividend and capital gains distributions for the fund(s) are available on Fidelity.com or Institutional.Fidelity.com.

During fiscal year ended 2025, 100% of the fund's income dividends was free from federal income tax, and 7.17% of the fund's income dividends was subject to the federal alternative minimum tax.

The fund will notify shareholders in January 2026 of amounts for use in preparing 2025 income tax returns.

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

(Unaudited)

Note: This is not applicable for any fund included in this document.

Item 9: Proxy Disclosures for Open-End Management Investment Companies

(Unaudited)

Note: This is not applicable for any fund included in this document.

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

(Unaudited)

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

(Unaudited)

Note: This is not applicable for any fund included in this document.

1.536791.128

SMD-ANN-1025

Fidelity® Arizona Municipal Income Fund

Annual Report

August 31, 2025

Contents

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

Fidelity® Arizona Municipal Income Fund

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Distributions

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Item 9: Proxy Disclosures for Open-End Management Investment Companies

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

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.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

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

Fidelity® Arizona Municipal Income Fund

Schedule of Investments August 31, 2025

Showing Percentage of Net Assets

Municipal Securities - 97.6%
	Principal Amount (a)	Value ($)
Arizona - 95.1%
Education - 15.5%
Arizona St Univ Revs Series 2019A, 5% 7/1/2040	510,000	521,020
Arizona St Univ Revs Series 2020 A, 5% 7/1/2039	390,000	402,549
Arizona St Univ Revs Series 2020 A, 5% 7/1/2043	2,925,000	2,958,029
Mcallister Academic Vlg AZ LLC 5% 7/1/2037 (Arizona St Univ Revs Guaranteed)	2,000,000	2,015,937
Mcallister Academic Vlg AZ LLC 5% 7/1/2038 (Arizona St Univ Revs Guaranteed)	3,850,000	3,872,441
Northern AZ Univ Revs Series 2020 B, 5% 6/1/2037 (Build America Mutual Assurance Co Insured)	1,000,000	1,047,698
Phoenix AZ Indl Dev Auth Student Hsg Rev (Downtown Phoenix Stud Hsg II LLC Proj.) 5% 7/1/2036	1,175,000	1,187,974
Phoenix AZ Indl Dev Auth Student Hsg Rev (Downtown Phoenix Student Housing LLC Proj.) 5% 7/1/2042	1,500,000	1,456,708
Student & Academic Services LLC (Northern AZ Univ Revs Proj.) Series 2024, 5% 6/1/2039 (Build America Mutual Assurance Co Insured)	1,385,000	1,461,320
University AZ Univ Revs Series 2020 C, 5% 8/1/2028	900,000	966,441
University AZ Univ Revs Series 2025A, 5% 6/1/2031	1,800,000	2,020,136
		17,910,253
Electric Utilities - 2.7%
Salt River Proj AZ Agric & Pwr Series 2019 A, 5% 1/1/2035	395,000	422,200
Salt River Proj AZ Agric & Pwr Series 2019 A, 5% 1/1/2037	880,000	927,266
Salt River Proj AZ Agric & Pwr Series 2023 A, 5% 1/1/2047	295,000	301,031
Salt River Proj AZ Agric & Pwr Series 2023B, 5.25% 1/1/2053	1,400,000	1,449,511
		3,100,008
General Obligations - 28.7%
Apache Cnty Ariz Uni Sch Dist No 8 Window Rock Impact Aid Rev Series 2022, 5% 7/1/2035	500,000	535,559
Apache Cnty Ariz Uni Sch Dist No 8 Window Rock Impact Aid Rev Series 2022, 5% 7/1/2036	500,000	530,815
Arizona Game & Fish Dept & Commission 5% 7/1/2032	470,000	470,669
Buckeye Ariz Un High Sch Dist No 201 5% 7/1/2029 (Assured Guaranty Inc Insured)	425,000	463,090
Buckeye Ariz Un High Sch Dist No 201 5% 7/1/2031 (Assured Guaranty Inc Insured)	700,000	781,618
Buckeye Ariz Un High Sch Dist No 201 5% 7/1/2032 (Assured Guaranty Inc Insured)	800,000	899,888
Glendale AZ Union High Sch Dst 4% 7/1/2038 (Assured Guaranty Inc Insured)	1,000,000	992,638
Glendale AZ Union High Sch Dst 4% 7/1/2039 (Assured Guaranty Inc Insured)	1,000,000	981,977
Glendale AZ Union High Sch Dst Series 2024A, 5% 7/1/2035	500,000	561,433
Glendale AZ Usd #40 Series 2021B, 2% 7/1/2035 (Assured Guaranty Inc Insured)	2,050,000	1,607,896
Goodyear Ariz Gen. Oblig. Series 2016 A, 3% 7/1/2037	170,000	152,256
Industrial Development Authority of the City of Phoenix Arizona/The Series 2014, 5.125% 2/1/2034 (Guam Govt Guaranteed)	500,000	478,557
Marana Uni Sch Dist No 6 5% 7/1/2043 (Assured Guaranty Inc Insured)	500,000	514,430
Maricopa Cnty AZ Sch Dist #28 Kyrene Elem 5% 7/1/2037	1,000,000	1,034,048
Maricopa Cnty AZ Sch Dist #3 Tempe Elem Series 2024 A, 5% 7/1/2039	400,000	429,449
Maricopa Cnty AZ School District No 1 Phoenix Elementary 5% 7/1/2041 (Build America Mutual Assurance Co Insured)	1,300,000	1,356,213
Maricopa County Special Health Care District Gen. Oblig. 5% 7/1/2036	1,000,000	1,030,213
Maricopa County Unified School District #80 Series 2021 B, 3% 7/1/2038	400,000	350,830
Paradise Valley AZ Uni Sch Dist No 69 Series 2020 SECOND, 3% 7/1/2034	265,000	251,238
Paradise Valley AZ Uni Sch Dist No 69 Series 2022, 5% 7/1/2031	105,000	118,151
Paradise Valley AZ Uni Sch Dist No 69 Series 2025 A, 5% 7/1/2036	1,500,000	1,679,140
Phoenix Uhsd #210 Series 2019 B, 5% 7/1/2032	1,180,000	1,243,797
Phoenix Uhsd #210 Series 2019 B, 5% 7/1/2034	585,000	610,377
Pima Cnty AZ Unified Sch Dist No 1 Tucson Series 2024 A, 5% 7/1/2041 (Assured Guaranty Inc Insured)	750,000	790,409
Pima Cnty AZ Unified Sch Dist No 1 Tucson Series 2024 A, 5% 7/1/2042 (Assured Guaranty Inc Insured)	875,000	913,970
Pinal Cnty AZ Uni Sch Dist No 20 Maricopa 5% 7/1/2030 (Build America Mutual Assurance Co Insured)	340,000	375,256
Pinal Cnty AZ Uni Sch Dist No 20 Maricopa 5% 7/1/2031 (Build America Mutual Assurance Co Insured)	225,000	249,956
Pinal Cnty AZ Uni Sch Dist No 20 Maricopa 5% 7/1/2032 (Build America Mutual Assurance Co Insured)	150,000	167,745
Pinal Cnty AZ Uni Sch Dist No 20 Maricopa 5% 7/1/2033 (Build America Mutual Assurance Co Insured)	225,000	252,608
Pinal Cnty AZ Uni Sch Dist No 20 Maricopa 5% 7/1/2034 (Build America Mutual Assurance Co Insured)	275,000	308,285
Pinal Cnty AZ Uni Sch Dist No 20 Maricopa 5% 7/1/2035 (Build America Mutual Assurance Co Insured)	275,000	307,792
Pinal Cnty AZ Uni Sch Dist No 20 Maricopa 5% 7/1/2036 (Build America Mutual Assurance Co Insured)	625,000	691,223
Salt Verde Finl Corp Gas Rev AZ 5% 12/1/2037 (Citigroup Inc Guaranteed)	2,910,000	3,041,297
Salt Verde Finl Corp Gas Rev AZ 5.5% 12/1/2029 (Citigroup Inc Guaranteed)	3,000,000	3,237,514
Scottsdale AZ Uni Sch Dist #48 4% 7/1/2034	350,000	358,900
Scottsdale AZ Uni Sch Dist #48 5% 7/1/2033	3,015,000	3,119,971
Scottsdale Gen. Oblig. 4% 7/1/2032	400,000	407,068
Tolleson AZ Uni High Sch Dist No 214 5% 7/1/2031	350,000	364,017
Tolleson AZ Uni High Sch Dist No 214 Series 2025, 5% 7/1/2041	1,400,000	1,478,135
		33,138,428
Health Care - 20.5%
Arizona Health Facs Auth Rev (Banner Health System Proj.) Series 2007B, S&P Muni 7 Day High Grade Rate Index + 0.81%, 2.87% tender 1/1/2037 (b)(c)	995,000	961,590
Arizona Indl Dev Auth Hosp Rev (Phoenix Childrens Hospital Proj.) 3% 2/1/2045	1,160,000	835,316
Arizona Indl Dev Auth Hosp Rev (Phoenix Childrens Hospital Proj.) 4% 2/1/2050	2,005,000	1,645,572
Arizona Indl Dev Auth Hosp Rev (Phoenix Childrens Hospital Proj.) 5% 2/1/2040	700,000	716,503
Arizona Indl Dev Auth Hosp Rev (Phoenix Childrens Hospital Proj.) Series 2019 A, 3.9% 2/1/2048, LOC TD Bank NA VRDN (c)	555,000	555,000
Arizona Indl Dev Auth Hosp Rev (Phoenix Childrens Hospital Proj.) Series 2019B, 3.9% 2/1/2048, LOC TD Bank NA VRDN (c)	1,200,000	1,200,000
Arizona Industrial Development Authority (Childrens National Med Ctr, DC Proj.) Series 2020A, 4% 9/1/2035	200,000	199,136
Arizona Industrial Development Authority (Childrens National Med Ctr, DC Proj.) Series 2020A, 4% 9/1/2036	355,000	350,825
Arizona Industrial Development Authority (Childrens National Med Ctr, DC Proj.) Series 2020A, 4% 9/1/2046	1,000,000	871,386
Glendale Ariz Indl Dev Auth Rev (Humangood National Obligated Grp Proj.) Series 2018 A, 4% 7/1/2028	165,000	164,857
Glendale Ariz Indl Dev Auth Rev (Humangood National Obligated Grp Proj.) Series 2018 A, 5% 7/1/2033	435,000	437,789
Glendale Ariz Indl Dev Auth Sr Living Facs Rev (Royal Oaks Senior Living Cmnty Proj.) 5% 5/15/2056	1,000,000	812,177
Maricopa Cnty Ariz Indl Dev Auth Hosp Rev (Honorhealth Proj.) 5% 9/1/2033	275,000	287,167
Maricopa Cnty Ariz Indl Dev Auth Hosp Rev (Honorhealth Proj.) 5% 9/1/2034	680,000	707,048
Maricopa Cnty Ariz Indl Dev Auth Hosp Rev (Honorhealth Proj.) Series 2019A, 5% 9/1/2029	310,000	330,076
Maricopa Cnty Ariz Indl Dev Auth Hosp Rev (Honorhealth Proj.) Series 2021 A, 3% 9/1/2051	3,000,000	1,967,090
Maricopa Cnty Ariz Indl Dev Auth Hosp Rev (Honorhealth Proj.) Series 2021 A, 4% 9/1/2051	1,500,000	1,198,393
Maricopa Cnty AZ Ida Rev (Banner Health System Proj.) Series 2019 E, 3% 1/1/2049	3,000,000	2,089,469
Maricopa Cnty AZ Ida Rev (Banner Health System Proj.) Series 2019 F, 4% 1/1/2045	1,000,000	875,683
Maricopa Cnty AZ Ida Sr Living (Christian Care Surprise Proj.) 5.75% 1/1/2036 (d)	500,000	463,228
Maricopa Cnty AZ Ida Sr Living (Christian Care Surprise Proj.) 6% 1/1/2048 (d)	500,000	412,153
Pima Cnty AZ Indl Dev Auth Rev (Tucson Medical Center Proj.) Series 2021, 4% 4/1/2037	415,000	397,674
Pima Cnty AZ Indl Dev Auth Rev (Tucson Medical Center Proj.) Series 2021, 4% 4/1/2046	3,000,000	2,578,028
Tempe AZ Indl Dev Auth Rev (Friendship Village of Tempe,Az Proj.) Series 2021A, 4% 12/1/2046	1,000,000	805,589
Yavapai Cnty AZ Indl Dev Auth Hosp Rev (Yavapai Regional Medical Ctr Proj.) 5% 8/1/2036	1,305,000	1,315,142
Yavapai Cnty AZ Indl Dev Auth Hosp Rev (Yavapai Regional Medical Ctr Proj.) Series 2019, 4% 8/1/2043	350,000	306,897
Yuma AZ Indl Dev Auth Hosp Rev (Yuma Regional Medical Center Proj.) Series 2024 A, 5.25% 8/1/2044 (Assured Guaranty Inc Insured)	1,000,000	1,028,940
		23,512,728
Housing - 2.2%
Arizona Indl Dev Auth Rev (Lihtc Cert 2019-2 Proj.) Series 2 Class A, 3.625% 5/20/2033	1,578,840	1,534,403
Phoenix AZ Indl Rev Auth Mfh Series 2025, 3.1% tender 2/1/2059 (c)	1,000,000	1,004,195
		2,538,598
Industrial Development - 2.6%
Chandler AZ Indl Deve Auth Idr (Intel Corp Proj.) 5% tender 9/1/2052 (c)(e)	3,000,000	3,057,893
Special Tax - 7.6%
Bullhead City Ariz Excise Taxes Rev 2.3% 7/1/2041	1,000,000	689,147
Bullhead City Ariz Excise Taxes Rev 2.55% 7/1/2046	3,000,000	1,914,852
Chandler Ariz Excise Tax Rev Series 2015, 3% 7/1/2034	300,000	285,223
Glendale Ariz Sr Excise Tax Rev Series 2025, 5% 7/1/2030	350,000	389,837
Phoenix Ariz Civic Impt Corp Distr Rev 5.5% 7/1/2038 (National Public Finance Guarantee Corporation Insured) (f)	2,000,000	2,326,519
Phoenix-Mesa Gateway Arpt Auth Ariz Spl Fac Rev 5% 7/1/2027 (e)	275,000	275,175
Queen Creek AZ Excise Tax & St Shared Rev Series 2024, 5% 8/1/2030	235,000	261,948
Queen Creek AZ Excise Tax & St Shared Rev Series 2024, 5% 8/1/2037	135,000	149,170
Queen Creek AZ Excise Tax & St Shared Rev Series 2024, 5% 8/1/2038	240,000	261,831
Queen Creek AZ Excise Tax & St Shared Rev Series 2024, 5% 8/1/2039	250,000	270,345
Queen Creek AZ Excise Tax & St Shared Rev Series 2024, 5% 8/1/2040	350,000	374,625
Tempe AZ Excise Tax Rev 5% 7/1/2028	315,000	320,470
Tempe AZ Excise Tax Rev 5% 7/1/2029	500,000	508,477
Tempe AZ Excise Tax Rev 5% 7/1/2030	325,000	330,376
Tempe AZ Excise Tax Rev 5% 7/1/2031	375,000	381,019
		8,739,014
Transportation - 8.9%
Arizona St Transn Brd Series 2017A, 5% 7/1/2031	385,000	400,010
City of Phoenix Civic Improvement Corp (Phoenix Airport Conrac Proj.) 5% 7/1/2029	185,000	200,103
City of Phoenix Civic Improvement Corp (Phoenix Airport Conrac Proj.) 5% 7/1/2035	1,000,000	1,045,732
Phoenix AZ Cvc Imp Crp Apr Rev 5% 7/1/2031	2,000,000	2,078,220
Phoenix AZ Cvc Imp Crp Apr Rev 5% 7/1/2035 (e)	2,425,000	2,460,964
Phoenix AZ Cvc Imp Crp Apr Rev Series 2019 B, 4% 7/1/2037 (e)	1,750,000	1,686,521
Phoenix AZ Cvc Imp Crp Apr Rev Series 2019 B, 5% 7/1/2033 (e)	280,000	292,682
Phoenix AZ Cvc Imp Crp Apr Rev Series 2023, 5% 7/1/2030 (e)	2,000,000	2,179,556
Phoenix AZ Cvc Imp Crp Apr Rev Series A, 5% 7/1/2033 (e)	25,000	25,498
		10,369,286
Water & Sewer - 6.4%
Central Ariz Wtr Consv Dist Wtr Delivery O&M Rev 5% 1/1/2036	500,000	502,497
Goodyear Ariz Wtr & Swr Rev Series 2025, 5% 7/1/2036	1,420,000	1,589,220
Mesa AZ Util Sys Rev Series 2016, 3% 7/1/2040	100,000	81,606
Mesa AZ Util Sys Rev Series 2017, 3.25% 7/1/2040	495,000	423,648
Mesa AZ Util Sys Rev Series 2017, 3.25% 7/1/2041	885,000	737,583
Mesa AZ Util Sys Rev Series 2019A, 5% 7/1/2043	2,015,000	2,040,290
Mesa AZ Util Sys Rev Series 2021, 4% 7/1/2035	1,000,000	1,018,326
Phoenix AZ Cvc Imp Cor Wstwtr 5% 7/1/2033	1,000,000	1,015,307
		7,408,477
TOTAL ARIZONA		109,774,685
Guam - 0.9%
Special Tax - 0.6%
Guam Govt Business Privilege Tax Rev Series 2025 G, 5% 1/1/2032	630,000	684,324
Water & Sewer - 0.3%
Guam Govt Wtrwks Auth Wtr & Wst Rev Series 2025A, 5% 7/1/2031	275,000	301,471
TOTAL GUAM		985,795
Puerto Rico - 1.1%
General Obligations - 0.8%
Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 0% 7/1/2033	435,874	304,713
Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 5.625% 7/1/2027	50,000	51,699
Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 5.625% 7/1/2029	150,000	159,792
Puerto Rico Comwlth Gen. Oblig. Series 2022 A 1, 5.75% 7/1/2031	365,000	400,295
		916,499
Health Care - 0.3%
Puerto Rico Indl Tourist Edl Med & Environmental Ctl Facs Fing Auth Hosp Rev (Hosp Auxilio Mutou Oblig Grp Proj.) Series 2021, 4% 7/1/2041	50,000	42,415
Puerto Rico Indl Tourist Edl Med & Environmental Ctl Facs Fing Auth Hosp Rev (Hosp Auxilio Mutou Oblig Grp Proj.) Series 2021, 5% 7/1/2027	260,000	267,728
Puerto Rico Indl Tourist Edl Med & Environmental Ctl Facs Fing Auth Hosp Rev (Hosp Auxilio Mutou Oblig Grp Proj.) Series 2021, 5% 7/1/2032	95,000	100,495
		410,638
TOTAL PUERTO RICO		1,327,137
Virgin Islands - 0.5%
Transportation - 0.5%
Virgin Islands Transportation & Infrastructure Corp 5% 9/1/2033	215,000	237,568
Virgin Islands Transportation & Infrastructure Corp 5% 9/1/2042	335,000	340,806
		578,374
TOTAL VIRGIN ISLANDS		578,374
TOTAL MUNICIPAL SECURITIES (Cost $116,939,581)		112,665,991

Money Market Funds - 1.3%
	Yield (%)	Shares	Value ($)
Fidelity Municipal Cash Central Fund (g)(h) (Cost $1,511,042)	3.21	1,510,740	1,511,042

TOTAL INVESTMENT IN SECURITIES - 98.9% (Cost $118,450,623)	114,177,033
NET OTHER ASSETS (LIABILITIES) - 1.1%	1,320,522
NET ASSETS - 100.0%	115,497,555

Security Type Abbreviations

VRDN

VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)

Legend

(a)	Amount is stated in United States dollars unless otherwise noted.

(b)	Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

(c)	Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(d)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $875,381 or 0.8% of net assets.

(e)	Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

(f)	Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end.

(g)

Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

(h)	Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Central Fund.

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)	Shares, end of period	% ownership, end of period
Fidelity Municipal Cash Central Fund	2,987,772	20,868,722	22,345,452	118,694	-	-	1,511,042	1,510,740	0.1%
Total	2,987,772	20,868,722	22,345,452	118,694	-	-	1,511,042

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

Investment Valuation

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:

Municipal Securities
Education	17,910,253	-	17,910,253	-
Electric Utilities	3,100,008	-	3,100,008	-
General Obligations	34,054,927	-	34,054,927	-
Health Care	23,923,366	-	23,923,366	-
Housing	2,538,598	-	2,538,598	-
Industrial Development	3,057,893	-	3,057,893	-
Special Tax	9,423,338	-	9,423,338	-
Transportation	10,947,660	-	10,947,660	-
Water & Sewer	7,709,948	-	7,709,948	-

Money Market Funds	1,511,042	1,511,042	-	-
Total Investments in Securities:	114,177,033	1,511,042	112,665,991	-

Financial Statements

Statement of Assets and Liabilities
As of August 31, 2025
Assets
Investment in securities, at value - See accompanying schedule:
Unaffiliated issuers (cost $116,939,581)	$	112,665,991
Fidelity Central Funds (cost $1,511,042)		1,511,042


Total Investment in Securities (cost $118,450,623)			$	114,177,033
Cash				110,842
Receivable for fund shares sold				316,520
Interest receivable				1,083,846
Distributions receivable from Fidelity Central Funds				1,702
Total assets				115,689,943
Liabilities
Payable for fund shares redeemed	$	53,905
Distributions payable		85,686
Accrued management fee		52,797
Total liabilities				192,388
Net Assets			$	115,497,555
Net Assets consist of:
Paid in capital			$	122,225,079
Total accumulated earnings (loss)				(6,727,524)
Net Assets			$	115,497,555
Net Asset Value, offering price and redemption price per share ($115,497,555 ÷ 10,268,634 shares)			$	11.25

Statement of Operations
Year ended August 31, 2025
Investment Income
Interest			$	3,836,899
Income from Fidelity Central Funds				118,694
Total income				3,955,593
Expenses
Management fee	$	650,909
Independent trustees' fees and expenses		297
Total expenses before reductions		651,206
Expense reductions		(454)
Total expenses after reductions				650,752
Net Investment income (loss)				3,304,841
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers		(497,622)
Total net realized gain (loss)				(497,622)
Change in net unrealized appreciation (depreciation) on investment securities				(2,934,595)
Net gain (loss)				(3,432,217)
Net increase (decrease) in net assets resulting from operations			$	(127,376)

Statement of Changes in Net Assets

		Year ended August 31, 2025		Year ended August 31, 2024
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	3,304,841	$	3,263,427
Net realized gain (loss)		(497,622)		(586,315)
Change in net unrealized appreciation (depreciation)		(2,934,595)		5,184,313
Net increase (decrease) in net assets resulting from operations		(127,376)		7,861,425
Distributions to shareholders		(3,138,969)		(3,142,432)

Share transactions
Proceeds from sales of shares		17,892,700		18,367,617
Reinvestment of distributions		2,217,553		2,153,759
Cost of shares redeemed		(23,704,151)		(32,241,531)

Net increase (decrease) in net assets resulting from share transactions		(3,593,898)		(11,720,155)
Total increase (decrease) in net assets		(6,860,243)		(7,001,162)

Net Assets
Beginning of period		122,357,798		129,358,960
End of period	$	115,497,555	$	122,357,798

Other Information
Shares
Sold		1,571,682		1,624,996
Issued in reinvestment of distributions		194,978		190,444
Redeemed		(2,081,572)		(2,876,523)
Net increase (decrease)		(314,912)		(1,061,083)

Financial Highlights

Fidelity® Arizona Municipal Income Fund

Years ended August 31,		2025		2024		2023		2022		2021
Selected Per-Share Data
Net asset value, beginning of period	$	11.56	$	11.11	$	11.21	$	12.63	$	12.53
Income from Investment Operations
Net investment income (loss) A,B		.318		.304		.273		.248		.257
Net realized and unrealized gain (loss)		(.326)		.439		(.105)		(1.379)		.148
Total from investment operations		(.008)		.743		.168		(1.131)		.405
Distributions from net investment income		(.301)		(.293)		(.268)		(.247)		(.257)
Distributions from net realized gain		(.001)		-		-		(.042)		(.048)
Total distributions		(.302)		(.293)		(.268)		(.289)		(.305)
Net asset value, end of period	$	11.25	$	11.56	$	11.11	$	11.21	$	12.63
Total Return C		(.07) %		6.78%		1.52%		(9.07)%		3.27%
Ratios to Average Net Assets B,D,E
Expenses before reductions		.55%		.55%		.55%		.55%		.55%
Expenses net of fee waivers, if any		.55 %		.55%		.55%		.55%		.55%
Expenses net of all reductions, if any		.55%		.55%		.55%		.55%		.55%
Net investment income (loss)		2.79%		2.69%		2.45%		2.07%		2.04%
Supplemental Data
Net assets, end of period (000 omitted)	$	115,498	$	122,358	$	129,359	$	149,862	$	190,014
Portfolio turnover rate F		22 %		7%		15%		10%		8%

ACalculated based on average shares outstanding during the period.

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

FAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.

Notes to Financial Statements

For the period ended August 31, 2025

1. Organization.

Fidelity Arizona Municipal Income Fund (the Fund) is a non-diversified fund of Fidelity Union Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund may be affected by economic and political developments in the state of Arizona.

2. Investments in Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense RatioA
Fidelity Money Market Central Funds	Fidelity Management & Research Company LLC (FMR)	Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.	Short-term Investments	Less than .005%

A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Municipal securities are valued by pricing services who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Book-tax differences are primarily due to market discount and capital loss carryforwards.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$1,272,367
Gross unrealized depreciation	(5,149,316)
Net unrealized appreciation (depreciation)	$(3,876,949)
Tax Cost	$118,053,982

The tax-based components of distributable earnings as of period end were as follows:

Undistributed tax-exempt income	$25,490
Capital loss carryforward	$(2,876,066)
Net unrealized appreciation (depreciation) on securities and other investments	$(3,876,949)

Short-term	$(657,107)
Long-term	(2,218,959)
Total capital loss carryforward	$(2,876,066)

The tax character of distributions paid was as follows:

	August 31, 2025	August 31, 2024
Tax-exempt Income	$3,128,584	$3,142,432
Ordinary Income	$10,385	$-
Total	$3,138,969	$ 3,142,432

Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Arizona Municipal Income Fund	24,320,803	26,987,903

5. Fees and Other Transactions with Affiliates.

6. Committed Line of Credit.

The line of credit agreement will expire in March 2026 unless extended or renewed.

7. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $454.

8. Other.

9. Risk and Uncertainties.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Union Street Trust and Shareholders of Fidelity Arizona Municipal Income Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Arizona Municipal Income Fund (one of the funds constituting Fidelity Union Street Trust, referred to hereafter as the "Fund") as of August 31, 2025, the related statement of operations for the year ended August 31, 2025, the statement of changes in net assets for each of the two years in the period ended August 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended August 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2025 and the financial highlights for each of the five years in the period ended August 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

October 13, 2025

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Distributions

(Unaudited)

The dividend and capital gains distributions for the fund(s) are available on Fidelity.com or Institutional.Fidelity.com.

During fiscal year ended 2025, 100% of the fund's income dividends was free from federal income tax, and 12.16% of the fund's income dividends was subject to the federal alternative minimum tax.

The fund will notify shareholders in January 2026 of amounts for use in preparing 2025 income tax returns.

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

(Unaudited)

Note: This is not applicable for any fund included in this document.

Item 9: Proxy Disclosures for Open-End Management Investment Companies

(Unaudited)

Note: This is not applicable for any fund included in this document.

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

(Unaudited)

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

(Unaudited)

Note: This is not applicable for any fund included in this document.

1.536826.128

AZI-SPZ-ANN-1025

Item 8.

Changes in and Disagreements with Accountants for Open-End Management Investment Companies

See Item 7.

Item 9.

Proxy Disclosures for Open-End Management Investment Companies

See Item 7.

Item 10.

Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies

See Item 7.

Item 11.

Statement Regarding Basis for Approval of Investment Advisory Contract

See Item 7.

Item 12.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 13.

Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 14.

Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 15.

Submission of Matters to a Vote of Security Holders

There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.

Item 16.

Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.

Item 17.

Disclosure of Securities Lending Activities for Closed-End Management Investment Companies

Not applicable.

Item 18.

Recovery of Erroneously Awarded Compensation

(a)

Not applicable.

(b)

Not applicable.

Item 19.

Exhibits


(a)	(1)	Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.
(a)	(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
(a)	(3)	Not applicable.
(b)		Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Union Street Trust


By:	/s/Laura M. Del Prato
	Laura M. Del Prato
	President and Treasurer (Principal Executive Officer)

Date:	October 23, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:	/s/Laura M. Del Prato
	Laura M. Del Prato
	President and Treasurer (Principal Executive Officer)

Date:	October 23, 2025


By:	/s/Stephanie Caron
	Stephanie Caron
	Chief Financial Officer (Principal Financial Officer)

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

IDEA: FilingSummary.xml

IDEA: MetaLinks.json

IDEA: filing9938_htm.xml

Fidelity® Maryland Municipal Income Fund	$10,000	$10,698	$10,734	$10,716	$11,625	$11,794	$12,275	$11,152	$11,323	$12,028	$12,105
Bloomberg Maryland 2+ Year Enhanced Municipal Linked Index	$10,000	$10,753	$10,853	$10,835	$11,757	$12,205	$12,486	$11,432	$11,538	$12,175	$12,244
Bloomberg Municipal Bond Index	$10,000	$10,688	$10,782	$10,835	$11,780	$12,161	$12,574	$11,488	$11,684	$12,396	$12,405
	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

Fidelity® Arizona Municipal Income Fund	$10,000	$10,701	$10,747	$10,741	$11,661	$11,933	$12,323	$11,206	$11,376	$12,147	$12,139
Bloomberg Arizona 2+ Year Enhanced Municipal Linked Index	$10,000	$10,736	$10,868	$10,881	$11,829	$12,213	$12,584	$11,518	$11,646	$12,343	$12,420
Bloomberg Municipal Bond Index	$10,000	$10,688	$10,782	$10,835	$11,780	$12,161	$12,574	$11,488	$11,684	$12,396	$12,405
	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025

AAA	24.7
AA	31.2
A	20.2
BBB	14.2
B	1.0
Not Rated	7.8
Short-Term Investments and Net Other Assets (Liabilities)	0.9

AAA	3.4
AA	60.3
A	22.6
BBB	7.4
B	0.4
Not Rated	3.5
Short-Term Investments and Net Other Assets (Liabilities)	2.4