# EDGAR Filing Document

**Accession Number:** 0001847307
**File Stem:** 0001752724-25-134477
**Filing Date:** 2025-6
**Character Count:** 21885
**Document Hash:** 0106a2af887b3da6dfc65820b351ee58
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-134477.hdr.sgml**: 20250612

**ACCESSION NUMBER**: 0001752724-25-134477

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250331

**FILED AS OF DATE**: 20250612

**DATE AS OF CHANGE**: 20250612

**EFFECTIVENESS DATE**: 20250612

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tax-Free Fixed Income Fund V for Puerto Rico Residents, Inc.
- **CENTRAL INDEX KEY:** 0001847307

**ORGANIZATION NAME:**
- **EIN:** 660693397
- **STATE OF INCORPORATION:** PR
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23677
- **FILM NUMBER:** 251042090

**BUSINESS ADDRESS:**
- **STREET 1:** 250 MUNOZ RIVERA
- **STREET 2:** TENTH FLOOR
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918
- **BUSINESS PHONE:** 787-250-3600

**MAIL ADDRESS:**
- **STREET 1:** 250 MUNOZ RIVERA
- **STREET 2:** TENTH FLOOR
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Puerto Rico Fixed Income Fund V, Inc.
- **DATE OF NAME CHANGE:** 20210222

## Internal

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of Tax-Free Fixed Income Fund V for Puerto Rico Residents, Inc.

In planning and performing our audit of the financial statements of Tax-Free Fixed Income Fund V for Puerto Rico Residents, Inc. (the "Fund"), in accordance with the auditing standards of the Public Company Accounting Oversight Board (United States) (PCAOB) and auditing standards generally accepted in the United States of America (GAAS), as of and for the year ended March 31, 2025, we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under auditing standards established by the PCAOB or under GAAS. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of March 31, 2025.

This report is intended solely for the information and use of management and the Board of Directors of Tax-Free Fixed Income Fund V for Puerto Rico Residents, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

------

/s/ Ernst & Young LLP

New York, New York

May 30, 2025

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001847307

## N-CEN: Series/Class (Contract) Information

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-03-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Tax-Free Fixed Income Fund V for Puerto Rico Residents, Inc.

- **Item B.1.b - Investment Company Act file number:** 811-23677

- **Item B.1.c - CIK:** 0001847307

- **Item B.1.d - LEI:** 549300PBNZYVKGM3QY35

- **Item B.2.a - Street 1:** 250 MUNOZ RIVERA

- **Item B.2.a - Street 2:** TENTH FLOOR

- **Item B.2.b - City:** SAN JUAN

- **Item B.2.e - Zip Code:** 00918

- **Item B.2.f - Telephone:** 787-250-3600

- **Item B.2.g - Public Website:** www.ubs.com/prfunds

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** UBS Trust Company of Puerto Rico

- **b. Street 1:** 250 Munoz Rivera

- **Street 2:** 10th Floor

- **c. City:** San Juan

- **f. Zip code and zip code extension, or foreign postal code:** 00918

- **g. Telephone number:** 787-250-3600

- **h. Briefly describe the books and records kept at this location:** Records related to advisory, transfer agency, custody and administrative services

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** JPMorgan Chase Bank, National Association

- **b. Street 1:** 4 Chase Metrotech Center

- **Street 2:** 6th Floor

- **c. City:** Brooklyn

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 11245

- **g. Telephone number:** N-A

- **h. Briefly describe the books and records kept at this location:** Records related to custody and accounting services

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** UBS Family of Funds

### Item B.6 - Organization

- [ ] a. Open-end management investment company registered under the Act on Form N-1A

- [x] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** —

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                    | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                      |
|:---|:---|:---|
| Carlos Nido             | No                      | 811-23693, 811-23673, 811-23678, 811-23686, 811-23685, 811-23690, 811-23675, 811-23671, 811-23691, 811-23682, 811-23692, 811-23674, 811-23679, 811-23684, 811-23670, 811-23680, 811-23689, 811-23676, 811-23681, 811-23687 |
| Vicente Leon            | No                      | 811-23682, 811-23680, 811-23671, 811-23670, 811-23687, 811-23679, 811-23676, 811-23684, 811-23686, 811-23678, 811-23673, 811-23675, 811-23685, 811-23674, 811-23681                                                        |
| Joaquin Villamil        | No                      | 811-23682, 811-23674, 811-23686, 811-23670, 811-23685, 811-23676, 811-23671, 811-23684, 811-23675, 811-23681, 811-23679, 811-23673, 811-23680, 811-23687                                                                   |
| Clotilde Perez          | No                      | 811-23673, 811-23692, 811-23681, 811-23687, 811-23675, 811-23690, 811-23682, 811-23679, 811-23674, 811-23685, 811-23671, 811-23670, 811-23689, 811-23686, 811-23678, 811-23693, 811-23680, 811-23684, 811-23691, 811-23676 |
| Agustin Cabrer-Roig     | No                      | 811-23682, 811-23678, 811-23685, 811-23679, 811-23686, 811-23680, 811-23676, 811-23670, 811-23674, 811-23673, 811-23681, 811-23684, 811-23675, 811-23687, 811-23671                                                        |
| Luis M. Pellot-Gonzalez | No                      | 811-23693, 811-23682, 811-23692, 811-23670, 811-23680, 811-23687, 811-23686, 811-23691, 811-23690, 811-23684, 811-23674, 811-23681, 811-23671, 811-23678, 811-23673, 811-23679, 811-23685, 811-23689, 811-23676, 811-23675 |
| Carlos V. Ubinas        | Yes                     | 811-23685, 811-23674, 811-23671, 811-23682, 811-23675, 811-23681, 811-23673, 811-23676, 811-23687, 811-23684, 811-23679, 811-23680, 811-23686, 811-23670                                                                   |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Luz N. Colon

- **b. CRD Number, if any:** 002940264

- **c. Street Address 1:** 1000 Harbor Boulevard 8th floor

- **d. City:** Weehawken

- **e. State, if applicable:** NJ

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 07086

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** —

| Series Name   | Series ID   |
|:---|:---|
| N/A           | N/A         |

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-33897

### Item B.16. Principal underwriters.

No Principal Underwriters reported.

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** Ernst & Young LLP

- **b. PCAOB Number:** 42

- **c. LEI, if any:** 254900Y3CIB1KF938C31

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Tax-Free Fixed Income Fund V for Puerto Rico Residents, Inc.

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Tax-Free Fixed Income Fund V for Puerto Rico Residents, Inc.

- **c. LEI:** 549300PBNZYVKGM3QY35

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 0

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** Yes

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** Yes

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4(d)(i) (17 CFR 270.18f-4(d)(i))

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** UBS Trust Company of Puerto Rico

- **ii. SEC file number:** 801-120846

- **iii. CRD number:** 000313696

- **iv. LEI, if any:** 254900WP0P3ARLILZA18

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** UBS Trust Company of Puerto Rico

- **ii. SEC file number:** N/A

- **iii. LEI, if any:** 254900WP0P3ARLILZA18

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** ICE Data Services, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 13-3668779

- **Description of other identifying number:** Tax ID

- **iii. State, if applicable:** GA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** UBS Trust Company of Puerto Rico

- **ii. LEI, if any:** 254900WP0P3ARLILZA18

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Self - rule 17f-2 (17 CFR 270.17f-2)

**Custodians Record: 2**

- **i. Full name:** J.P. Morgan Securities LLC

- **ii. LEI, if any:** ZBUT11V806EZRVTWT807

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** Yes

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** UBS Trust Company of Puerto Rico

- **ii. LEI, if any:** 254900WP0P3ARLILZA18

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** UBS Trust Company of Puerto Rico

- **ii. LEI, if any, or other identifying number:** 254900WP0P3ARLILZA18

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

No Brokers reported.

**Item C.17.a. Principal transaction counterparties.**

| Name                           | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| Santander Securities LLC       | 8-49571           |    000041791 | 0003237133           | MA      | US        | $33,647,954.44            |
| South Street Securities LLC    | 8-65770           |    000125202 | 549300K7L2QXX1ML9Z18 | NY      | US        | $124,978,000.00           |
| FHN Financial Securities Corp. | 8-51393           |    000046346 | PHDL2C07HIPM5DUL8S59 | TN      | US        | $5,900,000.00             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $164,525,954.44

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $40,025,452.12

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **b. Did the Fund engage in interfund lending?** —

- **c. Did the Fund engage in interfund borrowing?** —

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Tax-Free Fixed Income Fund V for Puerto Rico Residents, Inc.

**Date:** 2025-06-10

**Signature:** Claudio Ballester

**Title:** Head of Department