diff --git a/CHANGELOG.md b/CHANGELOG.md
index aa865bdf2..1c064dbe3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,18 @@
+# [3.1.0-beta.5](https://github.com/vuejs/vue-next/compare/v3.1.0-beta.4...v3.1.0-beta.5) (2021-05-26)
+
+
+### Bug Fixes
+
+* **keep-alive:** include/exclude should work with async component ([#3531](https://github.com/vuejs/vue-next/issues/3531)) ([9e3708c](https://github.com/vuejs/vue-next/commit/9e3708ca754c0ecd66dbb45984f8d103772bd55c)), closes [#3529](https://github.com/vuejs/vue-next/issues/3529)
+* **runtime-core:** properly check forwarded slots type ([#3781](https://github.com/vuejs/vue-next/issues/3781)) ([e8ddf86](https://github.com/vuejs/vue-next/commit/e8ddf8608021785c7b1b6f4211c633b40f26ddfc)), closes [#3779](https://github.com/vuejs/vue-next/issues/3779)
+* **runtime-core:** should not track dynamic children when the user calls a compiled slot inside template expression ([#3554](https://github.com/vuejs/vue-next/issues/3554)) ([2010607](https://github.com/vuejs/vue-next/commit/201060717d4498b4b7933bf8a8513866ab9347e4)), closes [#3548](https://github.com/vuejs/vue-next/issues/3548) [#3569](https://github.com/vuejs/vue-next/issues/3569)
+* **runtime-core/teleport:** ensure the nested teleport can be unmounted correctly ([#3629](https://github.com/vuejs/vue-next/issues/3629)) ([4e3f82f](https://github.com/vuejs/vue-next/commit/4e3f82f6835472650741896e19fbdc116d86d1eb)), closes [#3623](https://github.com/vuejs/vue-next/issues/3623)
+* **scheduler:** handle preFlush cb queued inside postFlush cb ([b57e995](https://github.com/vuejs/vue-next/commit/b57e995edd29eff685aeaf40712e0e029073d1cb)), closes [#3806](https://github.com/vuejs/vue-next/issues/3806)
+* **ssr:** handle hydrated async component unmounted before resolve ([b46a4dc](https://github.com/vuejs/vue-next/commit/b46a4dccf656280f9905e1bdc47022cb01c062c3)), closes [#3787](https://github.com/vuejs/vue-next/issues/3787)
+* **watch:** should not leak this context to setup watch getters ([1526f94](https://github.com/vuejs/vue-next/commit/1526f94edf023899490d7c58afcf36b051e25b6c)), closes [#3603](https://github.com/vuejs/vue-next/issues/3603)
+
+
+
 # [3.1.0-beta.4](https://github.com/vuejs/vue-next/compare/v3.1.0-beta.3...v3.1.0-beta.4) (2021-05-24)
 
 
diff --git a/package.json b/package.json
index 763bf3716..cad2d152e 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "private": true,
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "workspaces": [
     "packages/*"
   ],
diff --git a/packages/compiler-core/package.json b/packages/compiler-core/package.json
index dcc5a0298..19e4cf497 100644
--- a/packages/compiler-core/package.json
+++ b/packages/compiler-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-core",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/compiler-core",
   "main": "index.js",
   "module": "dist/compiler-core.esm-bundler.js",
@@ -32,7 +32,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/compiler-core#readme",
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4",
+    "@vue/shared": "3.1.0-beta.5",
     "@babel/parser": "^7.12.0",
     "@babel/types": "^7.12.0",
     "estree-walker": "^2.0.1",
diff --git a/packages/compiler-dom/package.json b/packages/compiler-dom/package.json
index 0c8dc8c07..76f2250e9 100644
--- a/packages/compiler-dom/package.json
+++ b/packages/compiler-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-dom",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/compiler-dom",
   "main": "index.js",
   "module": "dist/compiler-dom.esm-bundler.js",
@@ -37,7 +37,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/compiler-dom#readme",
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4",
-    "@vue/compiler-core": "3.1.0-beta.4"
+    "@vue/shared": "3.1.0-beta.5",
+    "@vue/compiler-core": "3.1.0-beta.5"
   }
 }
diff --git a/packages/compiler-sfc/package.json b/packages/compiler-sfc/package.json
index 49b2f44d9..39306f72e 100644
--- a/packages/compiler-sfc/package.json
+++ b/packages/compiler-sfc/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-sfc",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/compiler-sfc",
   "main": "dist/compiler-sfc.cjs.js",
   "types": "dist/compiler-sfc.d.ts",
@@ -31,15 +31,15 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/compiler-sfc#readme",
   "peerDependencies": {
-    "vue": "3.1.0-beta.4"
+    "vue": "3.1.0-beta.5"
   },
   "dependencies": {
     "@babel/parser": "^7.13.9",
     "@babel/types": "^7.13.0",
-    "@vue/compiler-core": "3.1.0-beta.4",
-    "@vue/compiler-dom": "3.1.0-beta.4",
-    "@vue/compiler-ssr": "3.1.0-beta.4",
-    "@vue/shared": "3.1.0-beta.4",
+    "@vue/compiler-core": "3.1.0-beta.5",
+    "@vue/compiler-dom": "3.1.0-beta.5",
+    "@vue/compiler-ssr": "3.1.0-beta.5",
+    "@vue/shared": "3.1.0-beta.5",
     "consolidate": "^0.16.0",
     "estree-walker": "^2.0.1",
     "hash-sum": "^2.0.0",
diff --git a/packages/compiler-ssr/package.json b/packages/compiler-ssr/package.json
index 796e3eb5c..bc1d92215 100644
--- a/packages/compiler-ssr/package.json
+++ b/packages/compiler-ssr/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-ssr",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/compiler-ssr",
   "main": "dist/compiler-ssr.cjs.js",
   "types": "dist/compiler-ssr.d.ts",
@@ -28,7 +28,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/compiler-ssr#readme",
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4",
-    "@vue/compiler-dom": "3.1.0-beta.4"
+    "@vue/shared": "3.1.0-beta.5",
+    "@vue/compiler-dom": "3.1.0-beta.5"
   }
 }
diff --git a/packages/reactivity/package.json b/packages/reactivity/package.json
index dc126a045..60d3cb4d5 100644
--- a/packages/reactivity/package.json
+++ b/packages/reactivity/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/reactivity",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/reactivity",
   "main": "index.js",
   "module": "dist/reactivity.esm-bundler.js",
@@ -36,6 +36,6 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/reactivity#readme",
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4"
+    "@vue/shared": "3.1.0-beta.5"
   }
 }
diff --git a/packages/runtime-core/package.json b/packages/runtime-core/package.json
index ad31a4143..15981fdb9 100644
--- a/packages/runtime-core/package.json
+++ b/packages/runtime-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-core",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/runtime-core",
   "main": "index.js",
   "module": "dist/runtime-core.esm-bundler.js",
@@ -32,7 +32,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/runtime-core#readme",
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4",
-    "@vue/reactivity": "3.1.0-beta.4"
+    "@vue/shared": "3.1.0-beta.5",
+    "@vue/reactivity": "3.1.0-beta.5"
   }
 }
diff --git a/packages/runtime-dom/package.json b/packages/runtime-dom/package.json
index 836f56796..fd4527636 100644
--- a/packages/runtime-dom/package.json
+++ b/packages/runtime-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-dom",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/runtime-dom",
   "main": "index.js",
   "module": "dist/runtime-dom.esm-bundler.js",
@@ -35,8 +35,8 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/runtime-dom#readme",
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4",
-    "@vue/runtime-core": "3.1.0-beta.4",
+    "@vue/shared": "3.1.0-beta.5",
+    "@vue/runtime-core": "3.1.0-beta.5",
     "csstype": "^2.6.8"
   }
 }
diff --git a/packages/runtime-test/package.json b/packages/runtime-test/package.json
index d439e8668..801ab6cdc 100644
--- a/packages/runtime-test/package.json
+++ b/packages/runtime-test/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-test",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/runtime-test",
   "private": true,
   "main": "index.js",
@@ -25,7 +25,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/runtime-test#readme",
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4",
-    "@vue/runtime-core": "3.1.0-beta.4"
+    "@vue/shared": "3.1.0-beta.5",
+    "@vue/runtime-core": "3.1.0-beta.5"
   }
 }
diff --git a/packages/server-renderer/package.json b/packages/server-renderer/package.json
index 5787f42bb..fe7512a65 100644
--- a/packages/server-renderer/package.json
+++ b/packages/server-renderer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/server-renderer",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "@vue/server-renderer",
   "main": "index.js",
   "types": "dist/server-renderer.d.ts",
@@ -28,10 +28,10 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/server-renderer#readme",
   "peerDependencies": {
-    "vue": "3.1.0-beta.4"
+    "vue": "3.1.0-beta.5"
   },
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4",
-    "@vue/compiler-ssr": "3.1.0-beta.4"
+    "@vue/shared": "3.1.0-beta.5",
+    "@vue/compiler-ssr": "3.1.0-beta.5"
   }
 }
diff --git a/packages/sfc-playground/package.json b/packages/sfc-playground/package.json
index de13c8633..ce771afaf 100644
--- a/packages/sfc-playground/package.json
+++ b/packages/sfc-playground/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/sfc-playground",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "private": true,
   "scripts": {
     "dev": "vite",
diff --git a/packages/shared/package.json b/packages/shared/package.json
index 88665080c..d42cd3a83 100644
--- a/packages/shared/package.json
+++ b/packages/shared/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/shared",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "internal utils shared across @vue packages",
   "main": "index.js",
   "module": "dist/shared.esm-bundler.js",
diff --git a/packages/size-check/package.json b/packages/size-check/package.json
index 3a85aec9c..5e80c77e3 100644
--- a/packages/size-check/package.json
+++ b/packages/size-check/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/size-check",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "private": true,
   "buildOptions": {
     "name": "Vue",
diff --git a/packages/template-explorer/package.json b/packages/template-explorer/package.json
index 631545438..bf2114b3a 100644
--- a/packages/template-explorer/package.json
+++ b/packages/template-explorer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/template-explorer",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "private": true,
   "buildOptions": {
     "formats": [
diff --git a/packages/vue-compat/package.json b/packages/vue-compat/package.json
index 51c844d89..6e9ccdf32 100644
--- a/packages/vue-compat/package.json
+++ b/packages/vue-compat/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compat",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "Vue 3 compatibility build for Vue 2",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
@@ -38,6 +38,6 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/vue-compat#readme",
   "peerDependencies": {
-    "vue": "3.1.0-beta.4"
+    "vue": "3.1.0-beta.5"
   }
 }
diff --git a/packages/vue/package.json b/packages/vue/package.json
index fec21c7e1..69584a9bf 100644
--- a/packages/vue/package.json
+++ b/packages/vue/package.json
@@ -1,6 +1,6 @@
 {
   "name": "vue",
-  "version": "3.1.0-beta.4",
+  "version": "3.1.0-beta.5",
   "description": "The progressive JavaScript framework for buiding modern web UI.",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
@@ -37,9 +37,9 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/vue#readme",
   "dependencies": {
-    "@vue/shared": "3.1.0-beta.4",
-    "@vue/compiler-dom": "3.1.0-beta.4",
-    "@vue/runtime-dom": "3.1.0-beta.4"
+    "@vue/shared": "3.1.0-beta.5",
+    "@vue/compiler-dom": "3.1.0-beta.5",
+    "@vue/runtime-dom": "3.1.0-beta.5"
   },
   "devDependencies": {
     "lodash": "^4.17.15",