diff --git a/Makefile b/Makefile
index c57792927f..f0c07a0f2e 100644
--- a/Makefile
+++ b/Makefile
@@ -75,7 +75,9 @@ $(MYGOBIN)/pluginator:
 # Build from local source.
 $(MYGOBIN)/kustomize: build-kustomize-api
 	cd kustomize; \
-	go install -ldflags "-X sigs.k8s.io/kustomize/api/provenance.buildDate=$(shell date -u +'%Y-%m-%dT%H:%M:%SZ')" \
+	go install -ldflags \
+	"-X sigs.k8s.io/kustomize/api/provenance.buildDate=$(shell date -u +'%Y-%m-%dT%H:%M:%SZ') \
+	 -X sigs.k8s.io/kustomize/api/provenance.version=$(shell git describe --tags --always --dirty)" \
 	.
 
 kustomize: $(MYGOBIN)/kustomize
diff --git a/api/go.mod b/api/go.mod
index af736f04a8..69eae826c5 100644
--- a/api/go.mod
+++ b/api/go.mod
@@ -15,6 +15,7 @@ require (
 )
 
 require (
+	github.com/blang/semver/v4 v4.0.0 // indirect
 	github.com/davecgh/go-spew v1.1.1 // indirect
 	github.com/go-openapi/jsonpointer v0.19.6 // indirect
 	github.com/go-openapi/jsonreference v0.20.2 // indirect
diff --git a/api/go.sum b/api/go.sum
index c2d652f6d9..90914ec755 100644
--- a/api/go.sum
+++ b/api/go.sum
@@ -1,3 +1,5 @@
+github.com/blang/semver/v4 v4.0.0 h1:1PFHFE6yCCTv8C1TeyNNarDzntLi7wMI5i/pzqYIsAM=
+github.com/blang/semver/v4 v4.0.0/go.mod h1:IbckMUScFkM3pff0VJDNKRiT6TG/YpiHIM2yvyW5YoQ=
 github.com/chzyer/logex v1.1.10/go.mod h1:+Ywpsq7O8HXn0nuIou7OrIPyXbp3wmkHB+jjWRnGsAI=
 github.com/chzyer/readline v0.0.0-20180603132655-2972be24d48e/go.mod h1:nSuG5e5PlCu98SY8svDHJxuZscDgtXS6KTTbou5AhLI=
 github.com/chzyer/test v0.0.0-20180213035817-a1ea475d72b1/go.mod h1:Q3SI9o4m/ZMnBNeIyt5eFwwo7qiLfzFZmjNmxjkiQlU=
diff --git a/api/provenance/provenance.go b/api/provenance/provenance.go
index 0e24fc36ca..0b7acd9b8c 100644
--- a/api/provenance/provenance.go
+++ b/api/provenance/provenance.go
@@ -8,6 +8,8 @@ import (
 	"runtime"
 	"runtime/debug"
 	"strings"
+
+	"github.com/blang/semver/v4"
 )
 
 // These variables are set at build time using ldflags.
@@ -62,9 +64,34 @@ func GetProvenance() Provenance {
 			p.GitCommit = setting.Value
 		}
 	}
+
+	for _, dep := range info.Deps {
+		if dep != nil && dep.Path == "sigs.k8s.io/kustomize/kustomize/v5" {
+			p.Version = GetMostRecentTag(*dep)
+		}
+	}
+
 	return p
 }
 
+func GetMostRecentTag(m debug.Module) string {
+	for m.Replace != nil {
+		m = *m.Replace
+	}
+
+	split := strings.Split(m.Version, "-")
+	sv, err := semver.Parse(strings.TrimPrefix(split[0], "v"))
+
+	if err != nil {
+		return "unknown"
+	}
+
+	if len(split) > 1 && sv.Patch > 0 {
+		sv.Patch -= 1
+	}
+	return fmt.Sprintf("v%s", sv.FinalizeVersion())
+}
+
 // Short returns the shortened provenance stamp.
 func (v Provenance) Short() string {
 	return fmt.Sprintf(
diff --git a/api/provenance/provenance_test.go b/api/provenance/provenance_test.go
index 9aede8d643..d418ef0080 100644
--- a/api/provenance/provenance_test.go
+++ b/api/provenance/provenance_test.go
@@ -5,6 +5,7 @@ package provenance_test
 
 import (
 	"fmt"
+	"runtime/debug"
 	"testing"
 
 	"github.com/stretchr/testify/assert"
@@ -45,3 +46,52 @@ func TestProvenance_Semver(t *testing.T) {
 	p.Version = "kustomize/v4.11.12"
 	assert.Equal(t, "v4.11.12", p.Semver())
 }
+
+func mockModule(version string) debug.Module {
+	return debug.Module{
+		Path:    "sigs.k8s.io/kustomize/kustomize/v5",
+		Version: version,
+		Replace: nil,
+	}
+}
+
+func TestGetMostRecentTag(t *testing.T) {
+	tests := []struct {
+		name        string
+		module      debug.Module
+		expectedTag string
+	}{
+		{
+			name:        "Standard version",
+			module:      mockModule("v1.2.3"),
+			expectedTag: "v1.2.3",
+		},
+		{
+			name:        "Pseudo-version with patch increment",
+			module:      mockModule("v0.0.0-20210101010101-abcdefabcdef"),
+			expectedTag: "v0.0.0",
+		},
+		{
+			name:        "Invalid semver string",
+			module:      mockModule("invalid-version"),
+			expectedTag: "unknown",
+		},
+		{
+			name:        "Valid semver with patch increment and pre-release info",
+			module:      mockModule("v1.2.3-0.20210101010101-abcdefabcdef"),
+			expectedTag: "v1.2.2",
+		},
+		{
+			name:        "Valid semver no patch increment",
+			module:      mockModule("v1.2.0"),
+			expectedTag: "v1.2.0",
+		},
+	}
+
+	for _, tt := range tests {
+		t.Run(tt.name, func(t *testing.T) {
+			tag := provenance.GetMostRecentTag(tt.module)
+			assert.Equal(t, tt.expectedTag, tag)
+		})
+	}
+}