FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 20172022 or

Indicate by check mark whether the registrant (i) 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, and (ii) has been subject to such filing requirements for the past 90 days:

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 "accelerated filer, “large accelerated filer" and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Commonwealth Income & Growth Fund V (the “Partnership”) is a limited partnership organized in the Commonwealth of Pennsylvania in May 2003. The Partnership offered for sale up to 1,250,000 units of the limited partnership at the purchase price of $20 per unit (the “offering”). The Partnership reached the minimum amount in escrow and commenced operations on March 14, 2005. As of February 24, 2006, the Partnership was fully subscribed.

The Partnership used the proceeds of the offering to acquire, own and lease various types of information technology, medical technology, telecommunications technology, inventory management equipment and other similar capital equipment, which is leased primarily to U.S. corporations and institutions.

Commonwealth Capital Corp. (“CCC”), on behalf of the Partnership and other affiliated partnerships, acquires equipment subject to associated debt obligations and lease agreements and allocates a participation in the cost, debt and lease revenue to the various partnerships that it manages based on certain risk factors.

The Partnership’s investment objective is to acquire primarily high technology equipment. Information technology has developed rapidly in recent years and is expected to continue to do so. Technological advances have permitted reductions in the cost of information technology processing capacity, speed, and utility. In the future, the rate and nature of equipment development may cause equipment to become obsolete more rapidly. The Partnership also acquires high technology medical, telecommunications and inventory management equipment. The Partnership’s general partner will seek to maintain an appropriate balance and diversity in the types of equipment acquired. The market for high technology medical equipment is growing each year. Generally, this type of equipment will have a longer useful life than other types of technology equipment. This allows for increased re-marketability, if it is returned before its economic or announcement cycle is depleted.

The Partnership’s General Partner is Commonwealth Income & Growth Fund, Inc. (the “General Partner”), a Pennsylvania corporation which is an indirect wholly owned subsidiary of CCC. Approximately ten years after the commencement of operations (the “operational phase”), the Partnership intended to sell or otherwise dispose of all of its equipment; make final distributions to partners, and to dissolve. The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote. The Partnership is expected to terminate on December 31, 2022.

Liquidity and Going Concern

For the nine months ended September 30, 2017,2022, the Partnership incurred negative cash flow.  At September 30, 2022, the Partnership has a working capital deficit of approximately $420,000. Such factors raise substantial doubt about the Partnership’s ability to continue as a going concern.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The General Partner electedagreed to forgo distributions and allocations of net income owed to it, and suspended limited partner distributions. The General Partner will reassess the funding of limited partner distributions on a quarterly basis, throughout 2017. The General Partnercontinue to waive certain fees and CCC will also determine ifmay defer certain related party payables owed to them by the Partnership may be deferred (if deemed necessary) in an effort to further increase the Partnership’s cash flow.

The financial information presented as of any date other than December 31, 20162021 has been prepared from the books and records without audit. The following unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission.  Financial information as of December 31, 20162021 has been derived from the audited financial statements of the Partnership, but does not include all disclosures required by generally accepted accounting principles to be included in audited financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the financial information for the periods indicated, have been included. Operating results for the three and nine months ended September 30, 20172022 are not necessarily indicative of financial results that may be expected for the full year ended December 31, 2017.

Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value.  Cash and cash equivalents, receivables,Receivables, accounts payable and accrued expenses and other liabilities are carried at amounts which reasonably approximate their fair values as of September 30, 20172022 and December 31, 20162021 due to the short termshort-term nature of these financial instruments.

The Partnership’s long-term debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at September 30, 20172022 and December 31, 20162021 approximates the carrying value of these instruments, due to the interest rates on the debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value.

We consider cash equivalents to be highly liquid investments with the original maturity dates of 90 days or less.

At September 30, 2017,2022, cash wasand cash equivalents were held in two accountsone account maintained at one financial institution with an aggregate balance of approximately $11,000.$1,000. Bank accounts are federally insured up to $250,000 by the FDIC. At September 30, 2017,2022, the total cash bank balance was as follows:

The Partnership’s bank balances are fully insured by the FDIC. The Partnership deposits its funds with a Moody's Aaa-Rated banking institution which is one of only three Aaa-Rated banks listed on the New York Stock Exchange. The Partnership has not experienced any losses in such accounts, and believes it is not exposed to any significant credit risk. The amount in such accounts will fluctuate throughout 20172022 due to many factors, including cash receipts, equipment acquisitions and interest rates.

The Partnership is the lessor of equipment under operating leases with periods that generally will range from 12 to 48 months. In general, associated costs such as repairs and maintenance, insurance and property taxes are paid by the lessee.

Gains or losses from which the Partnership purchases leases. These are fees that are earned by the leasing companies when the initial terms of the lease have been met. The General Partner believes that this strategy adds value since it entices the leasing company to remain actively involved with the lessee and encourages potential extensions, remarketing or sale of equipment. This strategy is designed to minimize any conflicts the leasing company may have with a new lessee and may assist in maximizing overall portfolio performance. The remarketing fee is tied into lease performance thresholds and is a factor in the negotiation of the fee. Remarketing fees incurred in connection with lease extensions are accounted for as operating costs. Remarketing fees incurred in connection with the sale of equipment are included in the gain or loss calculations.  For the nine months ended September 30, 2017 and 2016, no remarketing fees were incurred or paid.

CCC, on behalf of the Partnership and on behalf of other affiliated companies and partnerships (“partnerships”), acquires equipment subject to associated debt obligations and lease agreements and allocates a participation in the cost, debt and lease revenue to the various companies based on certain risk factors.

The Partnership’s share of the cost of the equipment in which it participates with other partnerships at September 30, 20172022 was approximately $3,165,000$1,656,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at September 30, 20172022 was approximately $11,456,000.$7,759,000. The Partnership’s share of the outstanding debt associated with this equipment at September 30, 20172022 was approximately $473,000$0 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at September 30, 20172022 was approximately $3,379,000.

The Partnership’s share of the cost of the equipment in which it participates with other partnerships at December 31, 20162021 was approximately $4,166,000$1,887,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at December 31, 20162021 was approximately $10,453,000.$8,222,000. The Partnership’s share of the outstanding debt associated with this equipment at December 31, 20162021 was approximately $186,000$0 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at December 31, 20162021 was approximately $502,000.

As the Partnership and the other programs managed by the General Partner continue to acquire new equipment for the portfolio, opportunities for shared participation are expected to continue.  Sharing in the acquisition of a lease portfolio gives the fund an opportunity to acquire additional assets and revenue streams, while allowing the fund to remain diversified and reducing its overall risk with respect to one portfolio.

The following is a schedule of approximate future minimum rentals on non-cancellable operating leases at September 30, 2017:

4. Related Party Transactions

Receivables/Payables

As of September 30, 20172022, and December 31, 2016, we determined that we did not have a need for an allowance for uncollectible accounts associated with any of our finance leases, as the customer payment histories with us, associated with these leases, has been positive, with no late payments.

Notes payable consisted of the following approximate amounts:

These notes are secured by specific equipment with a carrying value of approximately 890,000 as of September 30, 2017$16,000 and are nonrecourse liabilities of the Partnership. As such, the notes do not contain any financial debt covenants with which we must comply on either an annual or quarterly basis. Aggregate approximate maturities of notes payable for each of the periods subsequent to September 30, 20172022 are as follows:

No interest or principal on notes payable was paid by the Partnership during 20172022 and 20162021 because direct payment was made by lessee to the bank in lieu of collection of lease income and payment of interest and principal by the Partnership.

Other noncash activities included in the determination of net loss are as follows:

COVID-19 Pandemic

The amount of revenue recognized and the pattern of revenue recognition may be impacted by COVID-19. In December 2019, a strain of coronavirus was reported to have surfaced in Wuhan, China, and has spread globally, and on March 12, 2020, the World Health Organization (“WHO”) declared COVID-19 to be a pandemic. In an effort to contain and mitigate the spread of Commonwealth Income & Growth Fund V (“CIGF5”) and Commonwealth Income & Growth Private Fund III (“CIGPF3”) (Collectively referred to as the “Funds”), filed an investor complaint with FINRA naming CCSC and Ms. Springsteen-Abbott (the “Respondents”).  The Claimants, at the advice and recommendation of their personal financial advisors, purchased limited partnership units in CIGF5 between February 2005 and February 2006 and in CIGPF3 between April 2005 and February 2007.  The Claimants allege that the Respondents did not properly perform their duties as fund manager.  The Funds are not members of FINRA and/or subject to its jurisdiction.

In periods ended subsequent to the Districtoutbreak of MarylandCOVID-19, the impact on expected credit losses and future cash flow projections used in impairment testing will need to enjoinbe considered.

The Partnership continues to evaluate whether adjustments to the Claimants from proceeding withfinancial statements are required or whether additional disclosures are necessary.  In its leasing business, the arbitrationPartnership is always subject to credit losses as it relates to a customer’s ability to make timely rental payments.  The impact of COVID-19 may contribute to risk of non-performance, where a customer may experience financial difficulty and requiring its dismissal.  may delay in making timely payments.

The Claimants withdrew its complaint with FINRA on July 27, 2016.  On August 1, 2016,Partnership recognizes impairment of receivables and loans when losses are incurred, which is when it is probable that an entity will be unable to collect all amounts due according to the Respondents were granted voluntary dismissal in Federal court given the withdrawalcontractual terms of the FINRA claim.

The Partnership believes its estimate of expected losses have been recognized based on historical experience, current conditions, and reasonable forecasts.  The impacts of COVID-19 may necessitate additional adjustments in addition to the original Claimants (the “Florida Claimants”) filed a complaint in the United States District Court for the Middle Districtfuture forecasts of Florida, Albers et al. v. Commonwealth Capital Corp. et al., Case No. 6:16-cv-01713-Orl-37DCI, againstexpected losses.

Although the Partnership Commonwealth Income & Growth Private Fund I, Commonwealth Income & Growth Private Fund II, CIGPF3cannot estimate the length or gravity of the impact of the COVID-19 outbreak at this time, if the pandemic continues, it may have a material adverse effect on the Partnership’s results of future operations, financial position, and CIGF5.  The allegation consists of breach of contract, securities fraud, misstatementliquidity in the prospectus, fraudulent concealment, negligence, common law fraud (the “Original Complaint”).  On October 18, 2016, the judge dismissed the Original Complaint without prejudice with leave to refile. The judge dismissed the Original Complaint for procedural failures. On October 28, 2016, the Florida Claimants filed an amended complaint that included the original claims with the addition of claims for negligent supervisionfiscal year 2022 and breach of industry standards (“Amended Complaint’). On July 17, 2017 the United States Court for the Middle District of Florida dismissed all claims and closed the file.

On May 3, 2013, the FINRA Department of Enforcement filed a complaint naming Commonwealth Capital Securities Corp. (“CCSC”) and the owner of the firm, Kimberly Springsteen-Abbott, as respondents; however, on October 22, 2013, FINRA filed an amended complaint that dropped the allegations against CCSC and reduced the scope of the allegations against Ms. Springsteen-Abbott.  The sole remaining charge was that Ms. Springsteen-Abbott had approved the misallocation of some expenses to certain Funds.

The decision of the Hearing Officers may bePanel was stayed when it was appealed to FINRA's National Adjudicatory Council (NAC)(the “NAC”) pursuant to FINRA Rule 9311.  The NAC Decisionissued a decision that upheld the Panel’s ruling.  Thelower panel’s ruling and the bar took effect on August 23, 2016.  Ms. Springsteen-Abbott appealed the NAC DecisionNAC’s decision to the SEC.U.S. Securities and Exchange Commission (the “SEC”).  On March 31, 2017, the SEC criticized that decision as so flawed that the SEC could not even review it, and remanded the matter back to FINRA for further consideration consistent with the SEC’s remand, but did not suggest any view as to a particular outcome.

The Partnership is principally engaged in business of leasing equipment.  Ancillary to the Partnership’s principal equipment leasing business, the Partnership also sells certain equipment and may offer certain services to support its customers.

The Partnership’s lease transactions are principally accounted for under Topic 842 on January 1, 2019.  Prior to Topic 842, the Partnership accounted for these transactions under Topic 840, Leases (“Topic 840”).   Lease revenue includes revenue generated from leasing equipment to customers, including re-rent revenue, and is recognized as either on a straight line basis or using the effective interest method over the length of the lease contract, if such lease is either an operating lease or finance lease, respectively.

The Partnership’s sale of equipment along with certain services provided to customers is recognized under ASC Topic 606, Revenue from Contracts with Customers, (“Topic 606”), which was adopted on January 1, 2018.  Prior to adoption of Topic 606, the Partnership recognized these transactions under ASC Topic 605, Revenue Recognized, and (“Topic 605”).  The Partnership recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer.  The amount of revenue recognized reflects the consideration the Partnership expects to be entitled to in exchange for such products or services.

Through September 30, 2017,2022, the Partnership’s lease portfolio consisted of operating leases and finance leases. For operating leases, lease revenue is recognized on a straight-line basis in accordance with the terms of the lease agreements.

Upon the end of the lease term, if the lessee has not met the return conditions as set out in the lease, the Partnership is entitled in certain cases to additional compensation from the lessee. The Partnership’s accounting policy for recording such payments is to treat them as revenue.

Gains or losses from sales of leased and off leaseoff-lease equipment are recorded on a net basis in the Fund’s condensedPartnership’s Statement of Operations.

Partnership’s accounting policy for sales and property taxes collected from the termination of leaseslessees are recognized whenrecorded in the lease is modifiedcurrent period as gross revenues and terminated concurrently. Gains from lease termination included in lease revenue for the nine months ended September 30, 2017 and 2016 were approximately $0 and $500, respectively.

Sources and Uses of Cash

Our primary sourcessource of cash for the nine months ended September 30, 2017 were provided by operating activities of approximately $76,000, payments received from finance leases of approximately $26,000 and2022 was net proceeds from the sale of equipment of approximately $6,000.$2,000.  This compares to the nine months ended September 30, 20162021 where our primary sourcessource of cash were provided by payments received from finance leases of approximately $28,000 andwas net proceeds from the sale of equipment of approximately $41,000.

Our primary use of cash for the nine months ended September 30, 20172022 was for the purchase of new equipmentcash used in operating activities of approximately $112,000.  For$32,000.  Our primary use of cash for the nine months ended September 30, 2016, our primary uses of2021 was cash wereused in operating activities of approximately $45,000 and$55,000. 

Cash was used in operating activities for the purchase of new equipment of approximately $74,000.

We consider cash equivalents to be highly liquid investments with the original maturity dates of 90 days or less.

At September 30, 2017,2022, cash and cash equivalents was held in two accountsone account maintained at one financial institution with an aggregate balance of approximately $11,000.$1,000. Bank accounts are federally insured up to $250,000 by the FDIC. At September 30, 2017,2022, the total cash bank balance was as follows:

The Partnership’s bank balances are fully insured by the FDIC. The Partnership deposits its funds with a Moody's Aaa-Rated banking institution which is one of only three Aaa-Rated banks listed on the New York Stock Exchange. The Partnership has not experienced any losses in such accounts, and believes it is not exposed to any significant credit risk.  The amount in such accounts will fluctuate throughout 20172022 due to many factors, including cash receipts, equipment acquisitions, interest rates, and distributions to limited partners.

Our investment strategy of acquiring equipment and generally leasing it under triple-net leases to operators who generally meet specified financial standards minimizes our operating expenses. As of September 30, 2017,2022, we had future minimum rentals on non-cancelable operating leases of approximately $143,000 for the balance of the year ending December 31, 2017 and approximately $630,000 thereafter.  As of September 30, 2017, we had future minimum rentals on non-cancelable finance leases of approximately $9,000 for the balance of the year ending December 31, 20172022 and approximately $42,000$55,000 thereafter.

As of September 30, 2017,2022, our non-recourse debt was approximately $636,000,$11,000, with interest rates ranging from 1.80% to 6.00%rate of 5.31%, and will be payable through February 2021.

The Partnership was originally scheduled to end its operational phase on February 4, 2017.  During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote.  The Partnership is expected to terminate on December 31, 2022.  As such, it is the Partnership willPartnership’s intention to continue to report its financial statements on a going concern basis until a formal plan of liquidation is approved by the General Partner.

As the Partnership and the other programs managed by the General Partner increase their overall portfolio size, opportunities for shared participation are expected to continue. Sharing in the acquisition of a lease portfolio gives the fund an opportunity to acquire additional assets and revenue streams, while allowing the fund to remain diversified and reducing its overall risk with respect to one portfolio. Thus, total shared equipment and related debt should continue to trend higher in fiscal 2017, as

For the nine months ended September 30, 2022, the Partnership builds its portfolio.

The General Partner elected to forgo distributions and allocations of net income owed to it, and suspended limited partner distributions for the nine months ended September 30, 2017.2022.  The General Partner will continue to reassess the funding of limited partner distributions throughout 20172022 and will continue to waive certain fees if the General Partner determines it is in the best interest of the Partnership to do so.  If available cash flow or net disposition proceeds are insufficient to cover the Partnership expenses and liabilities on a short and long termlong-term basis, the Partnership may attempt to obtain additional funds by disposing of or refinancing equipment, or by borrowing within its permissible limits.

The General Partner will continue to reassess the funding of limited partner distributions throughout 20172022 and will continue to waive certain fees if the General Partner determines it is in the best interest of the Partnership to do so.fees. If available cash flow or net disposition proceeds are insufficient to cover the Partnership expenses and liabilities on a short and long termlong-term basis, the Partnership may attempt to obtain additional funds by disposing of or refinancing equipment, or by borrowing within its permissible limits.  Additionally, the Partnership will seek to enhance portfolio returns and maximize cash flow through the use of leveraged lease transactions;transactions: the acquisition of lease equipment through debt financing.  This strategy allows the General Partner to acquire additional revenue generating leases without the use of investor funds thus maximizing overall return.

Our lease revenue decreased to approximately $165,000$37,000 for the three months ended September 30, 2017,2022, from approximately $180,000$43,000 for the three months ended September 30, 2016.2021.  This revenue decrease is primarily due to morea decrease in active lease agreements ending versus new lease agreements being acquired.

The Partnership had 7814 and 8417 operating leases during the three months ended September 30, 20172022 and 2016,2021, respectively. The decline in number of active leases is consistent with the overall decrease in lease revenue.  Management expects to add new leases to our portfolio throughout the remainder of 2017,2022, funded primarily through debt financing.  As the operational phase of the Partnership has been extended to December 31, 2020, management2022, Management will continue to seek lease opportunities to enhance portfolio returns and cash flow.

For the three months ended September 30, 2017,2022, the Partnership sold equipment with a net book value of approximately $3,000$0 for a net gain of approximately $2,000.$3,000.  For the three months ended September 30, 2016,2021, the Partnership sold equipment with a net book value of approximately $4,000$0 for a net lossgain of approximately $500.

Our operating expenses, excluding depreciation, primarily consist of accounting and legal fees, outside service fees and reimbursement of expenses to CCC for administration and operation of the Partnership. These expenses decreased to approximately $41,000$49,000 for the three months ended September 30, 2017,2022, from approximately $97,000$49,500 for the three months ended September 30, 2016.2021.  This increasedecrease is primarily attributable to a decrease in temporary services expenses of approximately $10,000, outside office services expenses of approximately $2,500 and recruiting fees expenses of approximately $1,000, offset by an increase in accounting fees of approximately $7,000, IT expenses of approximately $4,000 and other LP expenses of approximately $29,000, a decrease in legal fees of approximately $23,000 and a decrease in accounting fees of approximately $3,000.

We pay an equipment management fee to our general partner for managing our equipment portfolio. The equipment management fee is approximately 2.5%5% of the gross lease revenue attributable to equipment that is subject to operating leases and 2% of the gross lease revenue attributable to equipment that is subject to finance leases.  TheAn equipment management fee of approximately $0 and $2,000 was earned but waived by the General Partner for both the three months ended September 30, 2022 and 2021, respectively.

Depreciation and Amortization Expenses

Depreciation expenses consist of depreciation on equipment.  This expense increased to approximately $18,000 for the three months ended September 30, 2017 as well as2022, from $17,000 for the three months ended September 30, 2016.

For the three months ended September 30, 2017,2022, we recognized revenue of approximately $170,000$42,000 and expenses of approximately $168,000,$69,000, resulting in a net gainloss of approximately $2,000.$27,000.  For the three months ended September 30, 2016,2021, we recognized revenue of approximately $181,000$53,000 and expenses of approximately $228,000,$69,000, resulting in a net loss of approximately $47,000.$16,000.  This change into a net gainloss is due to the changes in revenue and expenses as described above.

Our lease revenue decreased to approximately $464,000$122,000 for the nine months ended September 30, 2017,2022, from approximately $538,000$159,000 for the nine months ended September 30, 2016.  This decrease was primarily due to the replacement of matured leases with newly acquired leases generating less in revenue.

We pay an equipment management fee to our general partner for managing our equipment portfolio. The equipment management fee is approximately 2.5%5% of the gross lease revenue attributable to equipment that is subject to operating leases and 2% of the gross lease revenue attributable to equipment that is subject to finance leases.  The equipment management fee decreased to approximately $0 forFor the nine months ended September 30, 2017 from approximately $5,000 for the nine months ended September 30, 2016.  This decline is consistent with the decrease in overall lease revenue2022 and the waiving of2021, total equipment management fees of approximately $0 and $8,000 were earned but waived by the General Partner, effective in the second quarter of 2016.

Depreciation and amortization expenses consist of depreciation on equipment and amortization of equipment acquisition fees. These expenses decreased to approximately $325,000$54,000 for the nine months ended September 30, 2017,2022, from $448,000$78,000 for the nine months ended September, 2021.  This decrease was due to the higher frequency in the termination of leases and equipment being fully depreciated as compared to the acquisition of new leases for the nine months ended September 30, 2016.  This decrease is primarily due to significant leases that became fully depreciated, partially offset by new equipment acquisitions.

For the nine months ended September 30, 2017,2022, we recognized revenue of approximately $472,000$129,000 and expenses of approximately $482,000 and an insurance recovery of approximately $11,000,$220,000, resulting in net loss of approximately $1,000.$90,000.  For the nine months ended September 30, 2016,2021, we recognized revenue of approximately $577,000$184,000 and expenses of approximately $789,000,$262,000, resulting in net loss of approximately $212,000.$78,000.  This change into a net gainloss is due to the changes in revenue and expenses as described above.

N/A

Our management, under the supervision and with the participation of the General Partner’s Chief Executive Officer and Principal Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures related to our reporting and disclosure obligations as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on such evaluation, the General Partner’s Chief Executive Officer and Principal Financial Officer have concluded that, as of September 30, 2017,2022, our disclosure controls and procedures are effective in ensuring that information relating to us which is required to be disclosed in our periodic reports filed or submitted under the Securities Exchange Act of 1934 is (a) recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and (b) accumulated and communicated to management, including the General Partner’s Chief Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. There were no changes in the Partnership’s internal control over financial reporting during the secondfiscal quarter of 2017ended September 30, 2022 that have materially affected or are reasonably likely to materially affect its internal control over financial reporting.

FINRA naming CCSC and Ms. Springsteen-Abbott (the “Respondents”).  The Claimants, at the advice and recommendation of their personal financial advisors, purchased limited partnership units in CIGF5 between February 2005 and February 2006 and in CIGPF3 between April 2005 and February 2007.  The Claimants allege that the Respondents did not properly perform their duties as fund manager.  The Funds are not members of FINRA and/or subject to its jurisdiction.

On May 3, 2013, the FINRA Department of Enforcement filed a complaint naming Commonwealth Capital Securities Corp. (“CCSC”) and the owner of the firm, Kimberly Springsteen-Abbott, as respondents; however, on October 22, 2013, FINRA filed an amended complaint that dropped the allegations against CCSC and reduced the scope of the allegations against Ms. Springsteen-Abbott.  The sole remaining charge was that Ms. Springsteen-Abbott had approved the misallocation of some expenses to certain Funds.

The decision of the Hearing Officers may bePanel was stayed when it was appealed to FINRA's National Adjudicatory Council (NAC)(the “NAC”) pursuant to FINRA Rule 9311.  The NAC Decisionissued a decision that upheld the Panel’s ruling.  Thelower panel’s ruling and the bar took effect on August 23, 2016.  Ms. Springsteen-Abbott appealed the NAC DecisionNAC’s decision to the SEC.U.S. Securities and Exchange Commission (the “SEC”).  On March 31, 2017, the SEC criticized that decision as so flawed that the SEC could not even review it, and remanded the matter back to FINRA for further consideration consistent with the SEC’s remand, but did not suggest any view as to a particular outcome.

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.