diff --git a/CHANGELOG.md b/CHANGELOG.md
index 066b8319..1a446bd3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,16 @@
 
 All notable changes to this project are documented in this file.
 
+## 1.0.0-rc.5
+
+**Release date:** 2023-06-01
+
+This release includes flux2 [v2.0.0-rc.5](https://github.com/fluxcd/flux2/releases/tag/v2.0.0-rc.5).
+
+Flux `v2.0.0-rc.5` addresses a regression that was introduced in `v2.0.0-rc.4`.
+This regression caused a disruption in the compatibility with Git servers
+utilizing v2 of the wire protocol, such as Azure Devops and AWS CodeCommit.
+
 ## 1.0.0-rc.4
 
 **Release date:** 2023-05-29
diff --git a/docs/data-sources/install.md b/docs/data-sources/install.md
index 6f0f98b4..088a4326 100644
--- a/docs/data-sources/install.md
+++ b/docs/data-sources/install.md
@@ -42,7 +42,7 @@ data "flux_install" "main" {
 - `network_policy` (Boolean) Deny ingress access to the toolkit controllers from other namespaces using network policies. Defaults to `true`.
 - `registry` (String) Container registry where the toolkit images are published. Defaults to `ghcr.io/fluxcd`.
 - `toleration_keys` (Set of String) List of toleration keys used to schedule the components pods onto nodes with matching taints.
-- `version` (String) Flux version. Defaults to `v2.0.0-rc.3`.
+- `version` (String) Flux version. Defaults to `v2.0.0-rc.5`.
 - `watch_all_namespaces` (Boolean) If true watch for custom resources in all namespaces. Defaults to `true`.
 
 ### Read-Only
diff --git a/docs/resources/bootstrap_git.md b/docs/resources/bootstrap_git.md
index 2a28b2e3..9003f775 100644
--- a/docs/resources/bootstrap_git.md
+++ b/docs/resources/bootstrap_git.md
@@ -42,7 +42,7 @@ resource "flux_bootstrap_git" "this" {
 - `secret_name` (String) Name of the secret the sync credentials can be found in or stored to. Defaults to `flux-system`.
 - `timeouts` (Attributes) (see [below for nested schema](#nestedatt--timeouts))
 - `toleration_keys` (Set of String) List of toleration keys used to schedule the components pods onto nodes with matching taints.
-- `version` (String) Flux version. Defaults to `v2.0.0-rc.3`.
+- `version` (String) Flux version. Defaults to `v2.0.0-rc.5`.
 - `watch_all_namespaces` (Boolean) If true watch for custom resources in all namespaces. Defaults to `true`.
 
 ### Read-Only
diff --git a/internal/provider/resource_bootstrap_git_test.go b/internal/provider/resource_bootstrap_git_test.go
index 409e7d8d..e8b234ff 100644
--- a/internal/provider/resource_bootstrap_git_test.go
+++ b/internal/provider/resource_bootstrap_git_test.go
@@ -49,6 +49,8 @@ import (
 	"k8s.io/client-go/kubernetes"
 	"k8s.io/client-go/tools/clientcmd"
 	"sigs.k8s.io/kind/pkg/cluster"
+
+	"github.com/fluxcd/terraform-provider-flux/internal/utils"
 )
 
 const (
@@ -233,7 +235,7 @@ func TestAccBootstrapGit_Upgrade(t *testing.T) {
 				),
 			},
 			{
-				Config: bootstrapGitVersion(env, "v2.0.0-rc.3"),
+				Config: bootstrapGitVersion(env, utils.DefaultFluxVersion),
 				Check: resource.ComposeTestCheckFunc(
 					resource.TestCheckResourceAttrSet("flux_bootstrap_git.this", "repository_files.flux-system/kustomization.yaml"),
 					resource.TestCheckResourceAttrSet("flux_bootstrap_git.this", "repository_files.flux-system/gotk-components.yaml"),
diff --git a/internal/utils/flux.go b/internal/utils/flux.go
index d9ef0f94..30031c05 100644
--- a/internal/utils/flux.go
+++ b/internal/utils/flux.go
@@ -16,4 +16,4 @@ limitations under the License.
 
 package utils
 
-const DefaultFluxVersion string = "v2.0.0-rc.3"
+const DefaultFluxVersion string = "v2.0.0-rc.5"