diff --git a/CHANGELOG.md b/CHANGELOG.md
index e3a59946..b4152554 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,13 @@
 # Changelog
 
+## 0.5.0
+
+**Release date:** 2021-02-01
+
+This prerelease comes with support for supplying a client cert, key
+and CA (self-singed TLS) to be used for authentication with
+container image registries.
+
 ## 0.4.1
 
 **Release date:** 2021-01-22
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index ba416391..1bf3b303 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/image-reflector-controller
     newName: fluxcd/image-reflector-controller
-    newTag: v0.4.1
+    newTag: v0.5.0
diff --git a/go.mod b/go.mod
index e543b38c..529982c7 100644
--- a/go.mod
+++ b/go.mod
@@ -7,7 +7,7 @@ replace github.com/fluxcd/image-reflector-controller/api => ./api
 require (
 	github.com/Masterminds/semver/v3 v3.1.1
 	github.com/dgraph-io/badger/v3 v3.2011.1
-	github.com/fluxcd/image-reflector-controller/api v0.4.1
+	github.com/fluxcd/image-reflector-controller/api v0.5.0
 	github.com/fluxcd/pkg/apis/meta v0.7.0
 	github.com/fluxcd/pkg/runtime v0.8.0
 	github.com/fluxcd/pkg/version v0.0.1