<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 10-Q


[X]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1997

                                       OR

[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO ________


                         Commission file number 0-13432

                      IEA MARINE CONTAINER INCOME FUND V(B)
             (Exact name of registrant as specified in its charter)


         California                                              94-2911066
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                              Identification No.)

         444 Market Street, 15th Floor, San Francisco, California 94111
               (Address of principal executive offices) (Zip Code)

                                 (415) 677-8990
              (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X . No   .
                                      ---    ---



<PAGE>   2

                      IEA MARINE CONTAINER INCOME FUND V(B)

                      REPORT ON FORM 10-Q FOR THE QUARTERLY
                         PERIOD ENDED SEPTEMBER 30, 1997

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                PAGE
<S>        <C>                                                                  <C>
PART I - FINANCIAL INFORMATION

  Item 1.  Financial Statements

           Balance Sheets - September 30, 1997 (unaudited) and December 31,
           1996                                                                   4

           Statements of Operations for the three and nine months ended
           September 30, 1997 and 1996 (unaudited)                                5

           Statements of Cash Flows for the nine months ended September 30,
           1997 and 1996 (unaudited)                                              6

           Notes to Financial Statements (unaudited)                              7

  Item 2.  Management's Discussion and Analysis of Financial Condition and
           Results of Operations                                                 10


PART II - OTHER INFORMATION

  Item 6.  Exhibits and Reports on Form 8-K                                      13

</TABLE>



                                       2
<PAGE>   3

                         PART I - FINANCIAL INFORMATION


Item 1.  Financial Statements

         Presented herein are the Registrant's balance sheets as of September
         30, 1997 and December 31, 1996, statements of operations for the three
         and nine months ended September 30, 1997, and 1996, and statements of
         cash flows for the nine months ended September 30, 1997 and 1996.



                                       3
<PAGE>   4


                      IEA MARINE CONTAINER INCOME FUND V(B)

                                 BALANCE SHEETS

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                         September 30,  December 31,
                                                                             1997           1996
                                                                          ----------     ----------
<S>                                                                        <C>            <C>      
           Assets
Current assets:
   Cash and cash equivalents, includes $291,932 at September 30, 1997
      and $492,800 at December 31, 1996 in interest-bearing accounts      $  319,530     $  493,149
   Net lease receivables due from Leasing Company
      (notes 1 and 2)                                                        116,328        202,959
                                                                          ----------     ----------

         Total current assets                                                435,858        696,108
                                                                          ----------     ----------

Container rental equipment, at cost                                        2,274,071      3,051,757
   Less accumulated depreciation                                           1,617,014      2,078,170
                                                                          ----------     ----------
      Net container rental equipment                                         657,057        973,587
                                                                          ----------     ----------

                                                                          $1,092,915     $1,669,695
                                                                          ==========     ==========
          Partners' Capital

Partners' capital:
   General partners                                                       $    1,194     $    2,207
   Limited partners                                                        1,091,721      1,667,488
                                                                          ----------     ----------

         Total partners' capital                                           1,092,915      1,669,695
                                                                          ----------     ----------

                                                                          $1,092,915     $1,669,695
                                                                          ==========     ==========
</TABLE>


The accompanying notes are an integral part of these financial statements.


                                       4
<PAGE>   5

                      IEA MARINE CONTAINER INCOME FUND V(B)

                            STATEMENTS OF OPERATIONS

                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                                         Three Months Ended                Nine Months Ended
                                                   ------------------------------    ------------------------------
                                                   September 30,    September 30,    September 30,    September 30,
                                                       1997             1996             1997             1996
                                                   -------------    -------------    -------------    -------------
<S>                                                  <C>            <C>              <C>              <C>     
Net lease revenue (notes 1 and 3)                    $ 76,081         $119,370         $240,851         $365,105

Other operating expenses:
  Depreciation                                             --           46,926           70,098          166,875
  Other general and administrative expenses             8,331            7,762           26,827           21,299
                                                     --------         --------         --------         --------

                                                        8,331           54,688           96,925          188,174
                                                     --------         --------         --------         --------
    Earnings from operations                           67,750           64,682          143,926          176,931

Other income:
  Interest income                                       3,568            9,978           13,156           24,803
  Net gain on disposal of equipment                    23,050           53,839          124,155          180,611
                                                     --------         --------         --------         --------
                                                       26,618           63,817          137,311          205,414
                                                     --------         --------         --------         --------
    Net earnings                                     $ 94,368         $128,499         $281,237         $382,345
                                                     ========         ========         ========         ========
Allocation of net earnings:
  General partners                                   $ 22,153         $ 52,725         $ 75,255         $113,662
  Limited partners                                     72,215           75,774          205,982          268,683
                                                     --------         --------         --------         --------
                                                     $ 94,368         $128,499         $281,237         $382,345
                                                     ========         ========         ========         ========
Limited partners' per unit share of net earnings     $   4.21         $   4.42         $  12.02         $  15.68
                                                     ========         ========         ========         ========
</TABLE>


   The accompanying notes are an integral part of these financial statements.


                                       5
<PAGE>   6


                      IEA MARINE CONTAINER INCOME FUND V(B)

                            STATEMENTS OF CASH FLOWS

                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                                               Nine Months Ended
                                                         -----------------------------
                                                         September 30,   September 30,
                                                             1997           1996
                                                         -----------      -----------
<S>                                                      <C>              <C>        
Net cash provided by operating activities                $   284,823      $   452,259

Cash flows provided by investing activities:
  Proceeds from disposal of equipment                        399,575          861,429

Cash flows used in financing activities:
  Distribution to partners                                  (858,017)      (1,275,271)
                                                         -----------      -----------

Net increase (decrease) in cash and cash equivalents        (173,619)          38,417

Cash and cash equivalents at January 1                       493,149          525,530
                                                         -----------      -----------

Cash and cash equivalents at September 30                $   319,530      $   563,947
                                                         ===========      ===========
</TABLE>


   The accompanying notes are an integral part of these financial statements.



                                       6
<PAGE>   7

                      IEA MARINE CONTAINER INCOME FUND V(B)

                     NOTES TO UNAUDITED FINANCIAL STATEMENTS


(1)  Summary of Significant Accounting Policies

     (a) Nature of Operations

         IEA Marine Container Income Fund V(B) (the "Partnership") is a limited
         partnership organized under the laws of the State of California on
         August 8, 1983 for the purpose of owning and leasing marine cargo
         containers. The managing general partner is Cronos Capital Corp.
         ("CCC"); the associate general partners include four individuals. CCC,
         with its affiliate Cronos Containers Limited (the "Leasing Company"),
         manages the business of the Partnership. The Partnership shall continue
         until December 31, 2005, unless sooner terminated upon the occurrence
         of certain events.

         The Partnership commenced operations on May 22, 1984, when the minimum
         subscription proceeds of $1,000,000 were obtained. The Partnership
         offered 20,000 units of limited partnership interest at $500 per unit,
         or $10,000,000. The offering terminated on October 5, 1984, at which
         time 17,134 limited partnership units had been purchased.

         As of September 30, 1997, 24% of the original equipment remained in the
         Partnership's fleet and was comprised of 586 twenty-foot, 146
         forty-foot and 128 forty-foot high-cube marine dry cargo containers.
         Commencing in 1991, the Partnership's 10th year of operations, the
         Partnership began focusing its attention on the disposition of its
         fleet in accordance with another of its original investment objectives,
         realizing the residual value of its containers after the expiration of
         their economic useful lives, estimated to be between 10 to 15 years
         after placement in leased service. During this phase, the Partnership
         has actively disposed of containers within its fleet, while cash
         proceeds from equipment disposals, in addition to cash from operations,
         provided the cash flow for distributions to the limited partners. The
         Partnership, having completed its 15th year of operations, will focus
         its attention during the remainder of 1997 and subsequent periods on
         disposing its remaining fleet.


     (b) Leasing Company and Leasing Agent Agreement

         Pursuant to the Limited Partnership Agreement of the Partnership, all
         authority to administer the business of the Partnership is vested in
         CCC. CCC has entered into a Leasing Agent Agreement whereby the Leasing
         Company has the responsibility to manage the leasing operations of all
         equipment owned by the Partnership. Pursuant to the Agreement, the
         Leasing Company is responsible for leasing, managing and re-leasing the
         Partnership's containers to ocean carriers and has full discretion over
         which ocean carriers and suppliers of goods and services it may deal
         with. The Leasing Agent Agreement permits the Leasing Company to use
         the containers owned by the Partnership, together with other containers
         owned or managed by the Leasing Company and its affiliates, as part of
         a single fleet operated without regard to ownership. Since the Leasing
         Agent Agreement meets the definition of an operating lease in Statement
         of Financial Accounting Standards (SFAS) No. 13, it is accounted for as
         a lease under which the Partnership is lessor and the Leasing Company
         is lessee.

         The Leasing Agent Agreement generally provides that the Leasing Company
         will make payments to the Partnership based upon rentals collected from
         ocean carriers after deducting direct operating expenses and management
         fees to CCC. The Leasing Company leases containers to ocean carriers,
         generally under operating leases which are either master leases or term
         leases (mostly two to five years). Master leases do not specify the
         exact number of containers to be leased or the term that each container
         will remain on hire but allow the ocean carrier to pick up and drop off
         containers at various locations; rentals are based upon the number of
         containers used and the applicable per-diem rate. Accordingly, rentals
         under master leases are all variable and contingent upon the number of
         containers used. Most containers are leased to ocean carriers under
         master leases; leasing agreements with fixed payment terms are not
         material to the financial statements. Since there are no material
         minimum lease rentals, no disclosure of minimum lease rentals is
         provided in these financial statements.


                                                                     (Continued)


                                       7
<PAGE>   8


                      IEA MARINE CONTAINER INCOME FUND V(B)

                     NOTES TO UNAUDITED FINANCIAL STATEMENTS


     (c) Basis of Accounting

         The Partnership utilizes the accrual method of accounting. Net lease
         revenue is recorded by the Partnership in each period based upon its
         leasing agent agreement with the Leasing Company. Net lease revenue is
         generally dependent upon operating lease rentals from operating lease
         agreements between the Leasing Company and its various lessees, less
         direct operating expenses and management fees due in respect of the
         containers specified in each operating lease agreement.


     (d) Financial Statement Presentation

         These financial statements have been prepared without audit. Certain
         information and footnote disclosures normally included in financial
         statements prepared in accordance with generally accepted accounting
         procedures have been omitted. It is suggested that these financial
         statements be read in conjunction with the financial statements and
         accompanying notes in the Partnership's latest annual report on Form
         10-K.

         The preparation of financial statements in conformity with generally
         accepted accounting principles (GAAP) requires the Partnership to make
         estimates and assumptions that affect the reported amounts of assets
         and liabilities and disclosure of contingent assets and liabilities at
         the date of the financial statements and the reported amounts of
         revenues and expenses during the reported period. Actual results could
         differ from those estimates.

         The interim financial statements presented herewith reflect all
         adjustments of a normal recurring nature which are, in the opinion of
         management, necessary to a fair statement of the financial condition
         and results of operations for the interim periods presented.


(2)  Net Lease Receivables Due from Leasing Company

     Net lease receivables due from the Leasing Company are determined by
     deducting direct operating payables and accrued expenses, base management
     fees payable, reimbursed administrative expenses and incentive fees payable
     to CCC and its affiliates from the rental billings payable by the Leasing
     Company to the Partnership under operating leases to ocean carriers for the
     containers owned by the Partnership. Net lease receivables at September 30,
     1997 and December 31, 1996 were as follows:

<TABLE>
<CAPTION>
                                                    September 30, December 31,
                                                        1997        1996
                                                    ------------- ------------
<S>                                                     <C>          <C>   
Lease receivables, net of doubtful accounts
   of $105,146 at September 30, 1997 and $102,500
   at December 31, 1996                               $196,690     $329,620
Less:
Direct operating payables and accrued expenses          29,818       55,994
Damage protection reserve                               17,648       15,045
Base management fees                                     8,549       13,743
Reimbursed administrative expenses                       2,146        3,353
Incentive fees                                          22,201       38,526
                                                      --------     ---------
                                                      $116,328     $202,959
                                                      ========     ========
</TABLE>

                                                                     (Continued)



                                       8
<PAGE>   9

                      IEA MARINE CONTAINER INCOME FUND V(B)

                     NOTES TO UNAUDITED FINANCIAL STATEMENTS


(3)  Net Lease Revenue

     Net lease revenue is determined by deducting direct operating expenses,
     base management and incentive fees and reimbursed administrative expenses
     to CCC from the rental revenue billed by the Leasing Company under
     operating leases to ocean carriers for the containers owned by the
     Partnership. Net lease revenue for the three and nine-month periods ended
     September 30, 1997 and 1996, was as follows:


<TABLE>
<CAPTION>
                                              Three Months Ended            Nine Months Ended
                                           --------------------------   ---------------------------
                                           September 30, September 30,  September 30, September 30,
                                               1997         1996            1997         1996
                                           ------------- -------------  ------------- -------------
<S>                                          <C>          <C>           <C>            <C>     
         Rental revenue                      $124,435     $224,568      $ 423,714      $797,305
         Less:
         Rental equipment operating expenses   11,695       33,385         54,618       189,820
         Base management fees                   8,686       15,744         29,497        52,852
         Incentive fees                        22,201       44,403         79,009       146,269
         Reimbursed administrative expenses     5,772       11,666         19,739        43,259
                                            ---------     --------       --------      --------
                                            $  76,081     $119,370      $ 240,851      $365,105
                                            =========     ========        =======       =======
</TABLE>



                                       9
<PAGE>   10

Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations

It is suggested that the following discussion be read in conjunction with the
Registrant's most recent annual report on Form 10-K.

1)   Material changes in financial condition between September 30, 1997 and
     December 31, 1996.

     As discussed in the Registrant's report for the year ended December 31,
     1996, the Registrant entered 1997 with a view towards accelerating the
     disposal of its fleet. During the first nine months of 1997, the Registrant
     disposed of 332 containers as part of its ongoing container operations,
     contributing to a decline in the Registrant's operating results. At
     September 30, 1997, 24% of the original equipment remained in the
     Registrant's fleet, as compared to 33% at December 31, 1996, and was
     comprised of the following:

<TABLE>
<CAPTION>
                                                                            40-Foot
                                             20-Foot       40-Foot         High-Cube
                                             -------       -------         ---------
<S>                                          <C>            <C>             <C>
      Containers on lease:
         Term leases                            53             7               13
         Master lease                          478           125              103
                                               ---           ---              ---
             Subtotal                          531           132              116
      Containers off lease                      55            14               12
                                              ----          ----             ----
         Total container fleet                 586           146              128
                                               ===           ===              ===
</TABLE>

<TABLE>
<CAPTION>
                                                                                         40-Foot
                                              20-Foot              40-Foot              High-Cube
                                          ---------------      ---------------       ---------------
                                          Units        %       Units        %        Units       %
                                          -----        -       -----        -        -----       -
<S>                                       <C>         <C>        <C>       <C>        <C>       <C> 
Total purchases                           2,761       100%       719       100%       150       100%
   Less disposals                         2,175        79%       573        80%        22        15%
                                          -----     -----      -----     -----      -----     -----
Remaining fleet at September 30, 1997       586        21%       146        20%       128        85%
                                          =====     =====      =====     =====      =====     =====
</TABLE>


     The Registrant's diminishing fleet size and its related operating
     performance contributed to a 43% decline in net lease receivables at
     September 30, 1997, when compared to December 31, 1996. During the third
     quarter of 1997, distributions from operations and sales proceeds amounted
     to $246,827, reflecting distributions to the general and limited partners
     for the second quarter of 1997. This represents a decline from the $264,457
     distributed during the second quarter of 1997, reflecting distributions for
     the first quarter of 1997. The Registrant's efforts to accelerate the
     disposal of the remaining fleet should produce lower operating results and,
     consequently, lower distributions to its partners in subsequent quarters.

     During 1996, ocean carriers and other transport companies moved away from
     leasing containers outright, as declining container prices, favorable
     interest rates and the abundance of available capital resulted in ocean
     carriers and transport companies purchasing a larger share of equipment for
     their own account, reducing their need for leased containers. Once the
     demand for leased containers began to fall, per-diem rental rates were also
     adversely affected. Since the beginning of 1997, the container leasing
     industry has experienced a modest recovery as indicated by an upward trend
     in container utilization. This trend can also be seen within the
     Registrant's utilization rate, which increased from 89% at December 31,
     1996 to 91% at September 30, 1997. Increasing cargo volumes and continuing
     equipment imbalances within the container fleets of shipping lines and
     transport companies have re-established a need for these companies to
     replenish their leased fleets during 1997.



                                       10
<PAGE>   11


     Although there has been an improvement in container utilization rates,
     per-diem rental rates continue to remain under pressure as a result of the
     following factors: start-up leasing companies offering new containers and
     low rental rates in an effort to break into the leasing market; established
     leasing companies reducing rates to very low levels; and a continuing
     oversupply of containers. The recent volatility of the Hong Kong and other
     Asian financial markets and its impact on trade, shipping, and container
     leasing, especially intra-Asia and Asia-Europe routes, has yet to be
     determined. While these conditions could impact the Registrant's financial
     condition and operating performance through the remainder of 1997 and first
     half of 1998, the Registrant is well positioned to take advantage of
     further improvements in the container leasing market.


2)   Material changes in the results of operations between the three and
     nine-month periods ended September 30, 1997 and the three and nine-month
     periods ended September 30, 1996.

     Net lease revenue for the three and nine-month periods ended September 30,
     1997 was $76,081 and $240,851, respectively, a decline of 36% and 34%,
     respectively, from the same three and nine-month periods in the prior year.
     Approximately 24% and 44% of the Registrant's net earnings for the three
     and nine-month periods ended September 30, 1997, respectively, were from
     gain on disposal of equipment, as compared to 42% and 47%, respectively,
     for the same three and nine-month periods in the prior year. As the
     Registrant continues the disposal of its containers in subsequent periods,
     net gain on disposal may fluctuate and should contribute significantly to
     the Registrant's net earnings.

     Gross rental revenue (a component of net lease revenue) for the three and
     nine-month periods ended September 30, 1997 was $124,435 and $423,714,
     respectively, reflecting a decline of 45% and 47% from the same three and
     nine-month periods in 1996, respectively. During 1997, gross rental revenue
     was primarily impacted by the Registrant's diminishing fleet size and a
     decline in per-diem rental rates. Average per-diem rental rates decreased
     approximately 13% and 10%, respectively, when compared to the same three
     and nine-month periods in the prior year. Utilization rates increased when
     compared to the same three and nine-month periods in the prior year, as the
     demand for leased containers improved and the Registrant continued
     disposing of containers, reducing the number of off-hire containers within
     its fleet. The Registrant's average fleet size and utilization rates for
     the three and nine-month periods ended September 30, 1997 and September 30,
     1996 were as follows:

<TABLE>
<CAPTION>
                                            Three Months Ended          Nine Months Ended
                                       ---------------------------- ---------------------------
                                       September 30,  September 30, September 30, September 30,
                                           1997          1996         1997         1996
                                           ----          ----         ----         ----
<S>                                        <C>          <C>          <C>          <C>  
Average Fleet Size (measured in
  twenty-foot equivalent units (TEU)       1,162        1,850        1,336        2,230
Average Utilization                           92%          91%          90%          86%

</TABLE>

     Rental equipment operating expenses were 9% and 13%, respectively, of the
     Registrant's gross lease revenue during the three and nine-month periods
     ended September 30, 1997, as compared to 15% and 24%, respectively, during
     the same three and nine-month periods ended September 30, 1996.
     Contributing to these declines were reductions in costs associated with
     higher utilization levels, including storage and handling, as well as a
     decline in repair and maintenance. The Registrant's decision to dispose of
     its off-hire containers also contributed to lower rental equipment
     operating expenses, as well as lower base management and incentive fees.
     The Registrant's fleet became fully depreciated during the second quarter
     of 1997, contributing to the decline in depreciation expense.




                                       11
<PAGE>   12


     As reported in the Registrant's Current Report on Form 8-K and Amendment
     No. 1 to Current Report on Form 8-K, filed with the Commission on February
     7, 1997 and February 26, 1997, respectively, Arthur Andersen, London,
     England, resigned as auditors of The Cronos Group, a Luxembourg Corporation
     headquartered in Orchard Lea, England (the "Parent Company"), on February
     3, 1997.

     The Parent Company is the indirect corporate parent of Cronos Capital
     Corp., the managing general partner of the Registrant. In its letter of
     resignation to the Parent Company, Arthur Andersen states that it resigned
     as auditors of the Parent Company and all other entities affiliated with
     the Parent Company. While its letter of resignation was not addressed to
     the managing general partner or the Registrant, Arthur Andersen confirmed
     to the managing general partner that its resignation as auditors of the
     entities referred to in its letter of resignation included its resignation
     as auditors of Cronos Capital Corp. and the Registrant. Following Arthur
     Andersen's resignation, the Parent Company subsequently received
     notification from the Securities and Exchange Commission that it was
     conducting a private investigation of the Parent Company regarding the
     events and circumstances leading to Arthur Andersen's resignation. The
     results of this investigation are still pending. Accordingly, the
     Registrant does not, at this time, have sufficient information to determine
     the impact, if any, that the Securities and Exchange Commission
     investigation of the Parent Company and the concerns expressed by Arthur
     Andersen in its letter of resignation may have on the future operating
     results and financial condition of the Registrant or the Leasing Company's
     ability to manage the Registrant's fleet in subsequent periods. However,
     the managing general partner of the Registrant does not believe, based upon
     the information currently available to it, that Arthur Andersen's
     resignation was triggered by any concern over the accounting policies and
     procedures followed by the Registrant.

     Arthur Andersen's report on the financial statements of Cronos Capital
     Corp. and the Registrant, for either of the previous two years, has not
     contained an adverse opinion or a disclaimer of opinion, nor was any such
     report qualified or modified as to uncertainty, audit scope, or accounting
     principles. During the Registrant's previous two fiscal years and the
     subsequent interim period preceding Arthur Andersen's resignation, there
     have been no disagreements between Cronos Capital Corp. or the Registrant
     and Arthur Andersen on any matter of accounting principles or practices,
     financial statement disclosure, or auditing scope or procedure.

     The Registrant retained a new auditor, Moore Stephens, P.C. ("Moore
     Stephens") on April 10, 1997, as reported in the Registrant's Current
     Report on Form 8-K, filed April 14, 1997.

     The President of the Leasing Company, a subsidiary of the Parent Company,
     along with two marketing Vice Presidents, resigned in June 1997. These
     vacancies were filled by qualified, long-time employees who average over 15
     years of experience in the container leasing industry, therefore providing
     continuity in the management of the Leasing Company. The Registrant and
     managing general partner do not believe these changes will have a material
     impact on the future operating results and financial condition of the
     Registrant.


     Cautionary Statement

     This Quarterly Report on Form 10-Q contains statements relating to future
     results of the Registrant, including certain projections and business
     trends, that are "forward-looking statements" as defined in the Private
     Securities Litigation Reform Act of 1995. Actual results may differ
     materially from those projected as a result of certain risks and
     uncertainties, including but not limited to changes in: economic
     conditions; trade policies; demand for and market acceptance of leased
     marine cargo containers; competitive utilization and per-diem rental rate
     pressures; as well as other risks and uncertainties, including but not
     limited to those described in the above discussion of the marine container
     leasing business under Item 2., Management's Discussion and Analysis of
     Financial Condition and Results of Operations; and those detailed from time
     to time in the filings of Registrant with the Securities and Exchange
     Commission.



                                       12
<PAGE>   13

                                    PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

(a)  Exhibits

<TABLE>
<CAPTION>
           Exhibit
             No.                           Description                               Method of Filing
           -------                         -----------                               ----------------
<S>                  <C>                                                             <C>      
             3(a)    Limited Partnership Agreement of the Registrant,                *
                     amended and restated as of October 27, 1983

             3(b)    Certificate of Limited Partnership of the Registrant            **

             27      Financial Data Schedule                                         Filed with this document
</TABLE>


(b)  Reports on Form 8-K

     No report on Form 8-K were filed by the Registrant during the quarter ended
     September 30, 1997.



-------------

*       Incorporated by reference to Exhibit "A" to the Prospectus of the
        Registrant dated October 28, 1983, included as part of Registration
        Statement on Form S-1 (No. 2-86324)

**      Incorporated by reference to Exhibit 3.4 to the Registration Statement
        on Form S-1 (No. 2-86324)



                                       13
<PAGE>   14

                                   SIGNATURES


        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.



                             IEA MARINE CONTAINER INCOME FUND V(B)

                             By   Cronos Capital Corp.
                                  The Managing General Partner



                             By    /s/ JOHN KALLAS
                                -----------------------------------------
                                  John Kallas
                                  Vice President, Treasurer
                                  Principal Finance & Accounting Officer



Date: November 10, 1997



                                       14
<PAGE>   15

                                  EXHIBIT INDEX

<TABLE>
<CAPTION>
   Exhibit
     No.                              Description                               Method of Filing
   -------                            -----------                               ----------------
   

<S>          <C>                                                                <C>
     3(a)    Limited Partnership Agreement of the Registrant,  amended and      *
             restated as of October 27, 1983

     3(b)    Certificate of Limited Partnership of the Registrant               **

     27      Financial Data Schedule                                            Filed with this document

</TABLE>



-------------

*       Incorporated by reference to Exhibit "A" to the Prospectus of the
        Registrant dated October 28, 1983, included as part of Registration
        Statement on Form S-1 (No. 2-86324)

**      Incorporated by reference to Exhibit 3.4 to the Registration Statement
        on Form S-1 (No. 2-86324)