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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QZ67LtatF3YPoqamohujeSHplERRn2R0M5r88P2wFDQsWj+JIYFaTezL59paDfBj
 wBvLcZHiSYF6F+393fNVPQ==

<SEC-DOCUMENT>0001127602-08-008093.txt : 20081010
<SEC-HEADER>0001127602-08-008093.hdr.sgml : 20081010
<ACCEPTANCE-DATETIME>20081010200158
ACCESSION NUMBER:		0001127602-08-008093
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081008
FILED AS OF DATE:		20081010
DATE AS OF CHANGE:		20081010

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Wilson Hugh Steven
		CENTRAL INDEX KEY:			0001323913

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21960
		FILM NUMBER:		081119393

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		310.566.1007

	MAIL ADDRESS:	
		STREET 1:		C/O TENNENBAUM CAPITAL PARTNERS, LLC
		STREET 2:		2951 28TH ST., #1000
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90405

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Tennenbaum Opportunities Fund V, LLC
		CENTRAL INDEX KEY:			0001377269
		IRS NUMBER:				870783205
		STATE OF INCORPORATION:			DE

	BUSINESS ADDRESS:	
		STREET 1:		2951 28TH STREET
		STREET 2:		SUITE 1000
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90405
		BUSINESS PHONE:		310-566-1000

	MAIL ADDRESS:	
		STREET 1:		2951 28TH STREET
		STREET 2:		SUITE 1000
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90405
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-10-08</periodOfReport>

    <issuer>
        <issuerCik>0001377269</issuerCik>
        <issuerName>Tennenbaum Opportunities Fund V, LLC</issuerName>
        <issuerTradingSymbol>N/A</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001323913</rptOwnerCik>
            <rptOwnerName>Wilson Hugh Steven</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2951 28TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE1000</rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90405</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>1</isOfficer>
            <isOther>1</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
            <otherText>Officer of Investment Adviser</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2008-10-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>9.348</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10697.51</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>57.2892</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>/s/ Hugh Steven Wilson</signatureName>
        <signatureDate>2008-10-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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