diff --git a/CHANGELOG.md b/CHANGELOG.md
index eecbb1611..d8d2480a1 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,27 @@
 # Changelog
 
+## 11.5.0b1 - 2025-01-09
+* [#1433](https://github.com/stripe/stripe-python/pull/1433) Update generated code for beta
+  * Add support for `directorship_declaration` on resource class `stripe.Account.Company`
+  * Add support for `ownership_exemption_reason` on resource class `stripe.Account.Company` and parameter classes `stripe.Account.CreateParamsCompany` and `stripe.Token.CreateParamsAccountCompany`
+  * Add support for `brand_product` on resource `stripe.Card` and resource classes `stripe.Source.Card`, `stripe.Source.CardPresent`, and `stripe.Source.ThreeDSecure`
+  * Add support for `advice_code` on resource classes `stripe.Charge.Outcome`, `stripe.Invoice.LastFinalizationError`, `stripe.PaymentIntent.LastPaymentError`, `stripe.QuotePreviewInvoice.LastFinalizationError`, `stripe.SetupAttempt.SetupError`, and `stripe.SetupIntent.LastSetupError`
+  * Add support for `country` on resource classes `stripe.Charge.PaymentMethodDetails.Paypal`, `stripe.ConfirmationToken.PaymentMethodPreview.Paypal`, and `stripe.PaymentMethod.Paypal`
+  * Add support for `phone_number_collection` on parameter class `stripe.PaymentLink.ModifyParams`
+  * Add support for `nickname` on parameter classes `stripe.treasury.FinancialAccount.CreateParams` and `stripe.treasury.FinancialAccount.ModifyParams` and resource `stripe.treasury.FinancialAccount`
+  * Add support for `forwarding_settings` on parameter class `stripe.treasury.FinancialAccount.ModifyParams`
+  * Add support for `_cls_close` on resource `stripe.treasury.FinancialAccount`
+  * Add support for `close` on resource `stripe.treasury.FinancialAccount`
+  * Add support for `is_default` on resource `stripe.treasury.FinancialAccount`
+  * Add support for `destination_payment_method_data` on parameter class `stripe.treasury.OutboundTransfer.CreateParams`
+  * Add support for `financial_account` on resource class `stripe.treasury.OutboundTransfer.DestinationPaymentMethodDetails`
+  * Add support for `outbound_transfer` on resource class `stripe.treasury.ReceivedCredit.LinkedFlows.SourceFlowDetails`
+  * Remove support for `always_invoice` on enums `stripe.billing_portal.Configuration.Features.SubscriptionCancel.proration_behavior`, `stripe.billing_portal.Configuration.CreateParamsFeaturesSubscriptionCancel.proration_behavior`, and `stripe.billing_portal.Configuration.ModifyParamsFeaturesSubscriptionCancel.proration_behavior`
+  * Add support for `al_tin` on enums `stripe.checkout.Session.CollectedInformation.TaxId.type`, `stripe.Order.TaxDetails.TaxId.type`, `stripe.Order.CreateParamsTaxDetailsTaxId.type`, `stripe.Order.ModifyParamsTaxDetailsTaxId.type`, and `stripe.QuotePreviewInvoice.CustomerTaxId.type`
+  * Add support for `financial_account` on enum `stripe.treasury.OutboundTransfer.DestinationPaymentMethodDetails.type`
+  * Add support for `outbound_transfer` on enums `stripe.treasury.ReceivedCredit.LinkedFlows.SourceFlowDetails.type` and `stripe.treasury.ReceivedCredit.ListParamsLinkedFlows.source_flow_type`
+  * Change type of `pretax_credit_amounts` on  `stripe.CreditNote` and `stripe.CreditNoteLineItem` from `Optional[List[PretaxCreditAmount]]` to `List[PretaxCreditAmount]`
+
 ## 11.4.1 - 2024-12-19
 * [#1438](https://github.com/stripe/stripe-python/pull/1438) Fix regression when using httpx HTTP client
 
diff --git a/VERSION b/VERSION
index 4e1454e2e..77bd58f77 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-11.4.0b3
+11.5.0b1
diff --git a/stripe/_version.py b/stripe/_version.py
index cf90d2a41..ac1feac19 100644
--- a/stripe/_version.py
+++ b/stripe/_version.py
@@ -1 +1 @@
-VERSION = "11.4.0b3"
+VERSION = "11.5.0b1"