diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9d7c66f..1f44034 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,14 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.1.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## [dev] - YYYY-MM-DD
+
+### Added
+
+### Changed
+
+### Fixed
+
 ## [0.4.0] - 2026-04-16
 ### Added
 * Added `patch_numpy_umath` and `restore_numpy_umath` functions for patching NumPy, and improved the patching implementation [gh-170](https://github.com/IntelPython/mkl_umath/pull/170)
diff --git a/conda-recipe-cf/meta.yaml b/conda-recipe-cf/meta.yaml
index e2d14aa..7771bd5 100644
--- a/conda-recipe-cf/meta.yaml
+++ b/conda-recipe-cf/meta.yaml
@@ -1,4 +1,4 @@
-{% set version = "0.4.0" %}
+{% set version = "0.5.0dev0" %}
 {% set buildnumber = 0 %}
 
 package:
diff --git a/mkl_umath/_version.py b/mkl_umath/_version.py
index 6a9beea..2d29965 100644
--- a/mkl_umath/_version.py
+++ b/mkl_umath/_version.py
@@ -1 +1 @@
-__version__ = "0.4.0"
+__version__ = "0.5.0dev0"