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 March 31, 2011 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        333-117657-01

BCTC V ASSIGNOR CORP.(Exact name of registrant as specified in its charter)



|Delaware                          | 14-1897562         
|--------------------------------- | -------------------
|(State or other jurisdiction      | (I.R.S. Employer   
|of incorporation or organization) | Identification No.)

One Boston Place, Suite 2100, Boston, Massachusetts  02108

Registrant's telephone number, including area code (617)624-8900



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.

|Yesý | No 
|---- | ----

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

|Yes  | No 
|----- | ----

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act (check one):

|Large accelerated filer  | Accelerated filer        
|------------------------- | --------------------------
|Non-accelerated filer    | Smaller reporting companyý



Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

|Yesý | No 
|---- | ----



BCTC V ASSIGNOR CORP.

Form 10-Q QUARTERLY REPORT FOR THE PERIOD ENDED MARCH 31, 2011

TABLE OF CONTENTS



|         | PART I - FINANCIAL INFORMATION                             
|-------- | -----------------------------------------------------------
|         |                                                            
|Item 1.  | Financial Statements                                       
|         |                                                            
|Item 2.  | Management's Discussion and Analysis of Financial          
|         | Condition and Results of Operations                        
|         |                                                            
|Item 3.  | Quantitative and Qualitative Disclosures about Market Risk 
|         |                                                            
|Item 4.  | Controls and Procedures                                    
|         |                                                            
|         | PART II - OTHER INFORMATION                                
|         |                                                            
|Item 1.  | Legal Proceedings                                          
|         |                                                            
|Item 1A. | Risk Factors                                               
|         |                                                            
|Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds
|         |                                                            
|Item 3.  | Defaults Upon Senior Securities                            
|         |                                                            
|Item 4.  | (Removed and Reserved.)                                    
|         |                                                            
|Item 5.  | Other Information                                          
|         |                                                            
|Item 6.  | Exhibits                                                   
|         |                                                            
|         | Signatures                                                 
|         |                                                            
|         |                                                            









PART I



BCTC V Assignor Corp.

Balance Sheets







|                                     | March 31,
2011(Unaudited)                                                                       | December 31,
2010(Audited)
|------------------------------------ | ----------------------------------------------------------------------------------------------- | --------------------------
|                                     |                                                                                                 |                           
|ASSETS                              
|                                     |                                                                                                 |                           
|INVESTMENTS IN OPERATING             |                                                                                                 |                           
|                                     | PARTNERSHIP (Note B)                                                                            | $100                      
|                                     |                                                                                                 |                           
|                                     | $100                                                                                            | $100                      
|                                     |                                                                                                 |                           
|                                    
|LIABILITIES AND STOCKHOLDER'S EQUITY
|                                     |                                                                                                 |                           
|LIABILITIES                          |                                                                                                 |                           
|                                     |                                                                                                 |                           
|Subscription payable                 | $100                                                                                            | $100                      
|                                     |                                                                                                 |                           
|                                     | 100                                                                                             | 100                       
|                                     |                                                                                                 |                           
|Stockholder's equity                 |                                                                                                 |                           
|                                     | Common stock - 1,000 shares authorized, issued and outstanding, $1 par value per share (Note A) | 1,000                     
|Less: subscription receivable        | (1,000)                                                                                         | (1,000)                   
|                                     |                                                                                                 |                           
|                                     | $100                                                                                            | $100                      

NOTE A - ORGANIZATION

BCTC V Assignor Corp. (the "Corporation") was organized on October 15, 2003 under the laws of the State of Delaware to act as the assignor limited partner of, and to acquire and hold a limited partnership interest in, Boston Capital Tax Credit Fund V L.P. (the "Limited Partnership"). The Corporation will assign units of beneficial interest in its limited partnership interest to persons who purchase Beneficial Assignee Certificates ("BACs"), on the basis of one unit of beneficial interest for each BAC. The Corporation will not have any interest in profits, losses or distributions on its own behalf.

NOTE B - INVESTMENT IN LIMITED PARTNERSHIP

On October 15, 2003, the Corporation was admitted as the assignor limited partner in the Limited Partnership. The Limited Partnership was formed to invest in real estate by acquiring, holding, and disposing of limited partnership interests in operating partnerships which will acquire, develop, rehabilitate, operate and own newly-constructed, existing or rehabilitated low-income apartment complexes. The Corporation has recorded its $100 investment at cost.

NOTE C - SUBSEQUENT EVENTS

Events that occur after the balance sheet date but before the financial statements were available to be issued must be evaluated for recognition or disclosure.  The effects of subsequent events that provide evidence about conditions that existed at the balance sheet date are recognized in the accompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date require disclosure in the accompanying notes.  Management evaluated the activity of the Corporation through the date the financial statements were issued, which was May 12, 2011, the date of the Corporation's Quarterly Report on Form 10-Q for the period ended March 31, 2011.  Management concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

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

Business

The Corporation was formed for the sole purpose of serving as an assignor for the Limited Partnership and will not engage in any other business. Units of beneficial interest in the Limited Partnership interest of the Corporation will be assigned by the Corporation by means of BACs to investors and investors will be entitled to all the rights and economic benefits of a limited partner of the Limited Partnership, including rights to a percentage of the income, gains, losses, deductions, credits and distributions of the Limited Partnership. The Corporation does not charge any fees for its services and has no income. The Corporation is wholly-owned by John P. Manning.
A Registration Statement on Form S-11 and the related prospectus, were filed with the Securities and Exchange Commission and became effective January 2, 2004, in connection with a public offering in one or more series of a minimum of 250,000 BACs and a maximum of 7,000,000 BACs at $10 per BAC. On August 10, 2004, an amendment to Form S-11, which registered an additional 8,500,000 BACs for sale to the public in one or more series, became effective. As of March 31, 2011, subscriptions had been received and accepted by the general partner of the Limited Partnership for 11,777,706 BACs representing capital contributions of $117,777,060.

The Limited Partnership's principal business is to invest as a limited partner in other limited partnerships (the "Operating Partnerships"), each of which will own or lease and will operate an apartment complex exclusively or partially for low- and moderate-income tenants. Each Operating Partnership in which the Limited Partnership invests will own apartment complexes which are completed, newly-constructed, under construction or rehabilitation, or to-be constructed or rehabilitated, and which are expected to receive government assistance. Each apartment complex is expected to qualify for the low-income housing tax credit under Section 42 of the Internal Revenue Code of 1986, as amended (the "Code")(the "Federal Housing Tax Credit"), and provide tax benefits over a period of ten to twelve years in the form of tax credits which investors may use to offset income, subject to strict limitations, from other sources. Some apartment complexes may also qualify for the historic rehabilitation tax credit under Section 47 of the Code (the "Rehabilitation Tax Credit"). Section 236 (f) (ii) of the National Housing Act, as amended, and Section 101 of the Housing and Urban Development Act of 1965, as amended, each provide for the making by HUD of rent supplement payments to low income tenants in properties which receive other forms of federal assistance such as Tax Credits. The payments for each tenant, which are made directly to the owner of their property, generally are in amounts as to enable the tenant to pay rent equal to 30% of the adjusted family income. Some of the apartment complexes in which the Limited Partnership has invested are receiving rent supplements from HUD. HUD has been in the process of converting rent supplement assistance to assistance paid not to the owner of the apartment complex, but directly to the individuals. At this time, the Limited Partnership is unable to predict whether Congress will continue rent supplement programs payable directly to owners of the apartment complex. 
As of March 31, 2011 the Limited Partnership had invested in 15 Operating Partnerships on behalf of Series 47, 11 Operating Partnerships on behalf of Series 48, and 24 Operating Partnerships on behalf of Series 49.

|The primary business objectives of the Limited Partnership are to:
|------------------------------------------------------------------
|(1)                                                               
|(2)                                                               
|(3)                                                               
|(4)                                                               
|                                                                  

The Corporation has no operational history or capital needs.









Employees



|Item 3 | Quantitative and Qualitative Disclosure About Market Risk
|------ | ---------------------------------------------------------
|       |                                                          
|       | Not Applicable                                           

|Item 4 | Controls & Procedures
|------ | ---------------------
|       |                      
|       | (a)                  
|       |                      
|       |                      
|       | (b)                  
|       |                      







































PART II - OTHER INFORMATION

|Item 1.  | Legal Proceedings                                          
|-------- | -----------------------------------------------------------
|         |                                                            
|         | None                                                       
|         |                                                            
|Item 1A. | Risk Factors                                               
|         |                                                            
|         | Not Applicable                                             
|         |                                                            
|Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds
|         |                                                            
|         | None                                                       
|         |                                                            
|Item 3.  | Defaults upon Senior Securities                            
|         |                                                            
|         | None                                                       
|         |                                                            
|Item 4.  | (Removed and Reserved.)                                    
|         |                                                            
|Item 5.  | Other Information                                          
|         |                                                            
|         | None                                                       
|         |                                                            
|Item 6.  | Exhibits                                                   
|         |                                                            
|         |                                                            
|         |                                                            
|         |                                                            
|         |                                                            
|         |                                                            
|         |                                                            
|         |                                                            
|         |                                                            







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.

|                  |  | BCTC V Assignor Corp.
|----------------- |  | ---------------------
|                  |  |                      
|Date: May 4, 2011 |  | By:                  
|                  |  |                      
|                  |  |                      

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

|DATE:       | SIGNATURE:          | TITLE:                                                                  
|----------- | ------------------- | ------------------------------------------------------------------------
|            |                     |                                                                         
|May 4, 2011 | /s/ John P. Manning | Director, President (Principal Executive Officer), BCTC V Assignor Corp.
|            | John P. Manning    
|            |                    
|            |                    
|            |                    



|DATE:       | SIGNATURE:       | TITLE:                                              
|----------- | ---------------- | ----------------------------------------------------
|            |                  |                                                     
|May 4, 2011 | /s/ Marc N. Teal | (Principal Financial Officer), BCTC V Assignor Corp.
|            | Marc N. Teal    
|            |                 
|            |                 
|            |