UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                 PLACECITYWASHINGTON, STATED.C. POSTALCODE20549

                                    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


                RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.,
                   on behalf of the RFMSI Series 2006-S5 Trust
             (Exact name of registrant as specified in its charter)

           Delaware                  333-131201-02              75-2006294
 (State or other jurisdiction   (Commission File Number)      (IRS Employer
      of incorporation)                                    Identification No.)

         8400 Normandale Lake Boulevard,
                    Suite 250
       Minneapolis, StateMinnesota                              55437
     (Address of principal executive office)                  (Zip Code)

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


                                       N/A
             (Former name or 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 communication  pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

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

[ ] 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))



<PAGE>



                    INFORMATION TO BE INCLUDED IN THE REPORT

SECTION 8 - OTHER EVENTS.

ITEM 8.01.     OTHER EVENTS.


On June 29, 2006,  Residential  Funding  Mortgage  Securities I, Inc. caused the
issuance and sale of the Mortgage Pass-Through  Certificates,  Series,  2006-S5,
pursuant to a Series Supplement, dated as of June 1, 2006, to the Standard Terms
of Pooling and Servicing Agreement,  dated as of June 1, 2006, among Residential
Funding   Mortgage   Securities  I,  Inc.,  as  company,   Residential   Funding
Corporation,  as master  servicer and the U.S.  Bank  National  Association,  as
trustee. The mortgage loans were sold to Residential Funding Mortgage Securities
I, Inc. pursuant to an Assignment and Assumption Agreement, dated as of June 29,
2006, between  Residential  Funding Corporation and Residential Funding Mortgage
Securities I, Inc.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 (D). EXHIBITS.


        (d)    Exhibits:  The following execution copies of Exhibits to the Form
               S-3 Registration Statement of the Registrant are hereby filed.

                  10.1    Series  Supplement,  dated as of June 1, 2006,  to the
                          Standard  Terms of Pooling  and  Servicing  Agreement,
                          dated as of June 1, 2006,  among  Residential  Funding
                          Mortgage  Securities I, Inc., as company,  Residential
                          Funding Corporation,  as master servicer and U.S. Bank
                          National Association, as trustee.

                  10.2    Assignment and Assumption Agreement,  dated as of June
                          29, 2006, between  Residential Funding Corporation and
                          Residential Funding Mortgage Securities I, Inc.

                  10.3    Confirmation,  dated as of June 29, 2006 between Royal
                          Bank  of   Scotland   plc  and  U.S.   Bank   National
                          Association,  as trustee on behalf of the RFMSI Series
                          2006-S5 Trust.

                  99.1    Mortgage Loan Schedule



<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 hereunto duly authorized.


                                RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.



                                By:   /s/Heather Anderson
                                Name: Heather Anderson
                                Title:Vice President




Dated:  July 14, 2006


<PAGE>



                                  Exhibit Index


Exhibit No.                  Description

10.1 Series  Supplement,  dated as of June 1,  2006,  to the  Standard  Terms of
     Pooling  and  Servicing  Agreement,   dated  as  of  June  1,  2006,  among
     Residential  Funding Mortgage  Securities I, Inc., as company,  Residential
     Funding Corporation, as master servicer and U.S. Bank National Association,
     as trustee.

10.2 Assignment and  Assumption  Agreement,  dated as of June 29, 2006,  between
     Residential Funding Corporation and Residential Funding Mortgage Securities
     I, Inc.

10.3 Confirmation,  dated as of June 29, 2006 between Royal Bank of Scotland plc
     and U.S.  Bank  National  Association,  as  trustee  on behalf of the RFMSI
     Series 2006-S5 Trust.

99.1 Mortgage Loan Schedule
[{"type": "8-K", "sequence": "1", "filename": "s58kss.txt", "secsgml_size_bytes": 5491}]
{"company-data": {"conformed-name": "RFMSI Series 2006-S5 Trust", "cik": "0001363535", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-131201-02", "film-number": "06963182"}, "business-address": {"street1": "8400 NORMANDALE LAKE BLVD", "street2": "SUITE 250", "city": "MINNEAPOLIS", "state": "MN", "zip": "55437", "phone": "9528327000"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                 PLACECITYWASHINGTON, STATED.C. POSTALCODE20549

                                    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

                RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.,
                   on behalf of the RFMSI Series 2006-S5 Trust
             (Exact name of registrant as specified in its charter)

           Delaware                  333-131201-02              75-2006294
 (State or other jurisdiction   (Commission File Number)      (IRS Employer
      of incorporation)                                    Identification No.)

         8400 Normandale Lake Boulevard,
                    Suite 250
       Minneapolis, StateMinnesota                              55437
     (Address of principal executive office)                  (Zip Code)

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

                                       N/A
             (Former name or 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 communication  pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

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

[ ] 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))
INFORMATION TO BE INCLUDED IN THE REPORT

SECTION 8 - OTHER EVENTS.

ITEM 8.01.     OTHER EVENTS.

On June 29, 2006,  Residential  Funding  Mortgage  Securities I, Inc. caused the
issuance and sale of the Mortgage Pass-Through  Certificates,  Series,  2006-S5,
pursuant to a Series Supplement, dated as of June 1, 2006, to the Standard Terms
of Pooling and Servicing Agreement,  dated as of June 1, 2006, among Residential
Funding   Mortgage   Securities  I,  Inc.,  as  company,   Residential   Funding
Corporation,  as master  servicer and the U.S.  Bank  National  Association,  as
trustee. The mortgage loans were sold to Residential Funding Mortgage Securities
I, Inc. pursuant to an Assignment and Assumption Agreement, dated as of June 29,
2006, between  Residential  Funding Corporation and Residential Funding Mortgage
Securities I, Inc.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 (D). EXHIBITS.

        (d)    Exhibits:  The following execution copies of Exhibits to the Form
               S-3 Registration Statement of the Registrant are hereby filed.

                  10.1    Series  Supplement,  dated as of June 1, 2006,  to the
                          Standard  Terms of Pooling  and  Servicing  Agreement,
                          dated as of June 1, 2006,  among  Residential  Funding
                          Mortgage  Securities I, Inc., as company,  Residential
                          Funding Corporation,  as master servicer and U.S. Bank
                          National Association, as trustee.

                  10.2    Assignment and Assumption Agreement,  dated as of June
                          29, 2006, between  Residential Funding Corporation and
                          Residential Funding Mortgage Securities I, Inc.

                  10.3    Confirmation,  dated as of June 29, 2006 between Royal
                          Bank  of   Scotland   plc  and  U.S.   Bank   National
                          Association,  as trustee on behalf of the RFMSI Series
                          2006-S5 Trust.

                  99.1    Mortgage Loan Schedule
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 hereunto duly authorized.

                                RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.

                                By:   /s/Heather Anderson
                                Name: Heather Anderson
                                Title:Vice President

Dated:  July 14, 2006
Exhibit Index

Exhibit No.                  Description

10.1 Series  Supplement,  dated as of June 1,  2006,  to the  Standard  Terms of
     Pooling  and  Servicing  Agreement,   dated  as  of  June  1,  2006,  among
     Residential  Funding Mortgage  Securities I, Inc., as company,  Residential
     Funding Corporation, as master servicer and U.S. Bank National Association,
     as trustee.

10.2 Assignment and  Assumption  Agreement,  dated as of June 29, 2006,  between
     Residential Funding Corporation and Residential Funding Mortgage Securities
     I, Inc.

10.3 Confirmation,  dated as of June 29, 2006 between Royal Bank of Scotland plc
     and U.S.  Bank  National  Association,  as  trustee  on behalf of the RFMSI
     Series 2006-S5 Trust.

99.1 Mortgage Loan Schedule