UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported) June 29, 2006

                        Commission File Number of issuing
                                     entity:
                                  333-131213-11

                           RALI Series 2006-QA5 Trust
            ________________________________________________________
                         (Exact name of issuing entity)

                            Commission File Number of
                                   depositor:
                                   333-131213

                        Residential Accredit Loans, Inc.
            ________________________________________________________
              (Exact name of depositor as specified in its charter)

                         Residential Funding Corporation
            ________________________________________________________
               (Exact name of sponsor as specified in its charter)

                DELAWARE                                      None
        (State or other jurisdiction                    (I.R.S. employer
            of incorporation)                          identification no.)

        c/o 8400 Normandale Lake Blvd., Suite 250, Minneapolis, MN 55437
               (Address of principal executive offices) (Zip code)

        Registrant's telephone number, including area code (952) 857-7000

        _________________________________________________________________

          (Former name or former address, if changed since last report)





Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions .

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[ ] Soliciting  material  pursuant to Rule 14a-12(b)  under the Exchange Act (17
CFR 240.14a-12(b))

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))


Item 8.01.  Other Events.

     On June 29, 2006,  Residential Accredit Loans, Inc. (the "Registrant"),  as
depositor for the RALI Series  2006-QA5  Trust (the  "Trust"),  expects to issue
Mortgage Asset-Backed Pass-Through Certificates,  Series 2006-QA5, including the
following classes offered pursuant to a Registration Statement on Form S-3 (File
No.  333-131213)  filed by the  Registrant  with  the  Securities  and  Exchange
Commission:  Class I-A-1, Class I-A-2, Class I-A-3, Class II-A-1,  Class II-A-2,
Class I-M-1,  Class I-M-2,  Class I-M-3,  Class I-M-4, Class I-M-5, Class I-M-6,
Class I-M-7, Class I-M-8, Class I-M-9, Class II-M-1,  Class II-M-2, Class II-M-3
and Class II-R-1 (the "Certificates").

     Copies of the opinions of Orrick,  Herrington & Sutcliffe  LLP with respect
to legality of the Certificates and with respect to certain federal tax matters,
together  with related  consents of Orrick,  Herrington  & Sutcliffe  LLP to the
incorporation  by  reference  of such  opinions as exhibits to the  Registration
Statement, are filed as Exhibits to this Report.


Item 9.01.  Financial Statements, Pro Forma Financial Information and Exhibits.

               (a)    Not applicable

               (b)    Not applicable

               (c)    Exhibits:  The following are filed as Exhibits to this
                      Report:


Exhibit
Number

5.1 Opinion of Orrick, Herrington & Sutcliffe LLP with respect to legality.

8.1 Opinion of Orrick,  Herrington  & Sutcliffe  LLP with respect to certain tax
matters.

23.1 Consent of Orrick, Herrington & Sutcliffe LLP (included in opinion filed as
Exhibit 5.1).

23.2 Consent of Orrick, Herrington & Sutcliffe LLP (included in opinion filed as
Exhibit 8.1).

<PAGE>

                                          SIGNATURES

     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.

                                           RESIDENTIAL ACCREDIT LOANS, INC.,

                                           as depositor for the Trust


                                           By:        /s/ Tim Jacobson
                                              Name:   Tim Jacobson
                                              Title:  Vice President



<PAGE>

Dated:  June 28, 2006

Exhibit 5.1

Opinion of Orrick, Herrington & Sutcliffe LLP with respect to legality.

Exhibit 8.1

Opinion  of Orrick,  Herrington  &  Sutcliffe  LLP with  respect to certain  tax
matters.

Exhibit 23.1

Consent of Orrick,  Herrington & Sutcliffe  LLP  (included  in opinion  filed as
Exhibit 5.1).

Exhibit 23.2

Consent of Orrick,  Herrington & Sutcliffe  LLP  (included  in opinion  filed as
Exhibit 8.1).
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{"company-data": {"conformed-name": "RALI Series 2006-QA5 Trust", "cik": "0001365250", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-131213-11", "film-number": "06934054"}, "business-address": {"street1": "8400 NORMADALE LAKE BLVD", "street2": "STE 600", "city": "MINNEAPOLIS", "state": "MN", "zip": "55437", "phone": "952-857-7000"}, "mail-address": {"street1": "8400 NORMANDALE LAKE BLVD", "city": "MINNEAPOLIS", "state": "MN", "zip": "55437"}}
UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported) June 29, 2006

                        Commission File Number of issuing
                                     entity:
                                  333-131213-11

                           RALI Series 2006-QA5 Trust
            ________________________________________________________
                         (Exact name of issuing entity)

                            Commission File Number of
                                   depositor:
                                   333-131213

                        Residential Accredit Loans, Inc.
            ________________________________________________________
              (Exact name of depositor as specified in its charter)

                         Residential Funding Corporation
            ________________________________________________________
               (Exact name of sponsor as specified in its charter)

                DELAWARE                                      None
        (State or other jurisdiction                    (I.R.S. employer
            of incorporation)                          identification no.)

        c/o 8400 Normandale Lake Blvd., Suite 250, Minneapolis, MN 55437
               (Address of principal executive offices) (Zip code)

        Registrant's telephone number, including area code (952) 857-7000

        _________________________________________________________________

          (Former name or former address, if changed since last report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions .

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[ ] Soliciting  material  pursuant to Rule 14a-12(b)  under the Exchange Act (17
CFR 240.14a-12(b))

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))

Item 8.01.  Other Events.

     On June 29, 2006,  Residential Accredit Loans, Inc. (the "Registrant"),  as
depositor for the RALI Series  2006-QA5  Trust (the  "Trust"),  expects to issue
Mortgage Asset-Backed Pass-Through Certificates,  Series 2006-QA5, including the
following classes offered pursuant to a Registration Statement on Form S-3 (File
No.  333-131213)  filed by the  Registrant  with  the  Securities  and  Exchange
Commission:  Class I-A-1, Class I-A-2, Class I-A-3, Class II-A-1,  Class II-A-2,
Class I-M-1,  Class I-M-2,  Class I-M-3,  Class I-M-4, Class I-M-5, Class I-M-6,
Class I-M-7, Class I-M-8, Class I-M-9, Class II-M-1,  Class II-M-2, Class II-M-3
and Class II-R-1 (the "Certificates").

     Copies of the opinions of Orrick,  Herrington & Sutcliffe  LLP with respect
to legality of the Certificates and with respect to certain federal tax matters,
together  with related  consents of Orrick,  Herrington  & Sutcliffe  LLP to the
incorporation  by  reference  of such  opinions as exhibits to the  Registration
Statement, are filed as Exhibits to this Report.

Item 9.01.  Financial Statements, Pro Forma Financial Information and Exhibits.

               (a)    Not applicable

               (b)    Not applicable

               (c)    Exhibits:  The following are filed as Exhibits to this
                      Report:

Exhibit
Number

5.1 Opinion of Orrick, Herrington & Sutcliffe LLP with respect to legality.

8.1 Opinion of Orrick,  Herrington  & Sutcliffe  LLP with respect to certain tax
matters.

23.1 Consent of Orrick, Herrington & Sutcliffe LLP (included in opinion filed as
Exhibit 5.1).

23.2 Consent of Orrick, Herrington & Sutcliffe LLP (included in opinion filed as
Exhibit 8.1).
SIGNATURES

     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.

                                           RESIDENTIAL ACCREDIT LOANS, INC.,

                                           as depositor for the Trust

                                           By:        /s/ Tim Jacobson
                                              Name:   Tim Jacobson
                                              Title:  Vice President
Dated:  June 28, 2006

Exhibit 5.1

Opinion of Orrick, Herrington & Sutcliffe LLP with respect to legality.

Exhibit 8.1

Opinion  of Orrick,  Herrington  &  Sutcliffe  LLP with  respect to certain  tax
matters.

Exhibit 23.1

Consent of Orrick,  Herrington & Sutcliffe  LLP  (included  in opinion  filed as
Exhibit 5.1).

Exhibit 23.2

Consent of Orrick,  Herrington & Sutcliffe  LLP  (included  in opinion  filed as
Exhibit 8.1).