diff --git a/examples/advanced/main.tf b/examples/advanced/main.tf
index 609e483d..0133d9f1 100644
--- a/examples/advanced/main.tf
+++ b/examples/advanced/main.tf
@@ -22,7 +22,7 @@ locals {
 
 module "kp_all_inclusive" {
   source                    = "terraform-ibm-modules/kms-all-inclusive/ibm"
-  version                   = "4.22.0"
+  version                   = "5.0.1"
   key_protect_instance_name = "${var.prefix}-kp-instance"
   resource_group_id         = module.resource_group.resource_group_id
   region                    = var.region
diff --git a/solutions/fully-configurable/README.md b/solutions/fully-configurable/README.md
index 071dcca2..26d45721 100644
--- a/solutions/fully-configurable/README.md
+++ b/solutions/fully-configurable/README.md
@@ -27,7 +27,7 @@ The following resources are provisioned by this example:
 | <a name="module_existing_cluster_kms_key_crn_parser"></a> [existing\_cluster\_kms\_key\_crn\_parser](#module\_existing\_cluster\_kms\_key\_crn\_parser) | terraform-ibm-modules/common-utilities/ibm//modules/crn-parser | 1.1.0 |
 | <a name="module_existing_kms_crn_parser"></a> [existing\_kms\_crn\_parser](#module\_existing\_kms\_crn\_parser) | terraform-ibm-modules/common-utilities/ibm//modules/crn-parser | 1.1.0 |
 | <a name="module_existing_vpc_crn_parser"></a> [existing\_vpc\_crn\_parser](#module\_existing\_vpc\_crn\_parser) | terraform-ibm-modules/common-utilities/ibm//modules/crn-parser | 1.1.0 |
-| <a name="module_kms"></a> [kms](#module\_kms) | terraform-ibm-modules/kms-all-inclusive/ibm | 4.22.0 |
+| <a name="module_kms"></a> [kms](#module\_kms) | terraform-ibm-modules/kms-all-inclusive/ibm | 5.0.1 |
 | <a name="module_ocp_base"></a> [ocp\_base](#module\_ocp\_base) | ../.. | n/a |
 | <a name="module_resource_group"></a> [resource\_group](#module\_resource\_group) | terraform-ibm-modules/resource-group/ibm | 1.2.0 |
 
diff --git a/solutions/fully-configurable/main.tf b/solutions/fully-configurable/main.tf
index b84178cd..73ddff44 100644
--- a/solutions/fully-configurable/main.tf
+++ b/solutions/fully-configurable/main.tf
@@ -95,7 +95,7 @@ module "kms" {
   }
   count                       = (var.kms_encryption_enabled_boot_volume && var.existing_boot_volume_kms_key_crn == null) || (var.kms_encryption_enabled_cluster && var.existing_cluster_kms_key_crn == null) ? 1 : 0
   source                      = "terraform-ibm-modules/kms-all-inclusive/ibm"
-  version                     = "4.22.0"
+  version                     = "5.0.1"
   create_key_protect_instance = false
   region                      = local.cluster_kms_region
   existing_kms_instance_crn   = var.existing_kms_instance_crn