COVID-19 has upended the higher education community. National Student Clearinghouse's ongoing work on tracking transfer enrollment, with quarterly reports since fall 2020, revealed that pandemic-related disruptions substantially constrained student transfer and mobility in both the fall and spring terms, but they also widened the pre-existing disparities in student mobility, including pathways to bachelor's degree attainment. As the fifth in the series "COVID-19 Transfer, mobility, and progress," this report is the first comprehensive annual reporting designed to assess effects of the pandemic on student transfer during the entire academic year. The report focuses on the 2.1 million undergraduate students who transferred to a college other than their last enrolled institution between July 2020 and June 2021, a period reflecting the pandemic's full-blown impact on postsecondary students and institutions. Three areas have been identified in which to examine these trends: First, the report focuses on upward transfer pathways, showing not only the locus of declines, but also areas of growth, and identifying which four-year colleges, analyzed by selectivity, managed to increase these pathways, and which student populations, analyzed by gender and race and ethnicity, found increased opportunity. Second, the report examines the progression (persistence) of transfer students to the subsequent term after transferring, reporting this early indicator of transfer success by the destination institution type, the academic term of transfer, and demographic characteristics. Finally, using a greater data coverage of these institutions available through the entire academic year's data, the report analyzes the transfer enrollment patterns generally and upward transfer enrollment particularly among Historically Black Colleges and Universities (HBCUs) and Hispanic-Serving Institutions (HSIs), followed by an analysis of the persistence of students after transferring into these institutions. High-level findings are discussed in each of the sections. [For "COVID-19 Transfer, Mobility, and Progress: Final Look Spring 2021 Report. Fourth in the Series," see ED613171.]