SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) January 13, 1998
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PaineWebber Income Properties Five Limited Partnership
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(Exact name of registrant as specified in its charter)
Delaware 0-12087 04-2780287
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(State or other jurisdiction) (Commission (IRS Employer
of incorporation File Number) Identification No.)
265 Franklin Street, Boston, Massachusetts 02110
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (617) 439-8118
(Former name or address, if changed since last report)
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FORM 8-K
CURRENT REPORT
PAINEWEBBER INCOME PROPERTIES FIVE LIMITED PARTNERSHIP
ITEM 5 - Other Events
On December 29, 1997, the Partnership filed a Form 12b-25, Notice of Late
Filing, regarding its Annual Report on Form 10-K for the year neded September
30, 1997. As of January 13, 1998, the last date for the timely filing of such
report pursuant to Rule 12b-25(b), the Partnership continues to be unable to
file its Annual Report.
The inability of the registrant to file its Annual Report at this date
arises because of the inability to finalize an independent audit of one of the
Partnership's significant subsidiaries (Randallstown Carriage Hill Associates).
The audit of this joint venture is being held up by the failure of the
Partnership's co-venture partner to sign a standard audit representation letter.
The co-venturer has withheld this signature pending the resolution of a dispute
with the Partnership. Every effort has been and will continue to be made to
resolve this dispute, which will have no material effect on the Partnership's
financial statements, so that the Partnership can file its Annual Report.
The Annual Report will contain no material fourth quarter adjustments.
Nonetheless, since the report cannot be filed on a timely basis, the Managing
General Partner has decided to suspend secondary market trading in the
Partnership's limited partnership units until the Form 10-K is filed.
ITEM 7 - Financial Statements and Exhibits
(a) Financial Statements: None
(b) Exhibits: None
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FORM 8-K
CURRENT REPORT
PAINEWEBBER INCOME PROPERTIES FIVE LIMITED PARTNERSHIP
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PAINEWEBBER INCOME PROPERTIES FIVE LIMITED PARTNERSHIP
(Registrant)
By:/S/ Walter V. Arnold
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Walter V. Arnold
Senior Vice President and
Chief Financial Officer
Date: January 13, 1998
