Annual Statement of Changes in Beneficial Ownership (5)

FORM 5

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ X ] Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* MENCOFF SAMUEL M	2. Issuer Name and Ticker or Trading Symbol PACKAGING CORP OF AMERICA [PKG]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle) THREE FIRST NATIONAL PLAZA	3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY) 12/31/2016
(Street) CHICAGO, IL 60602 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form Filed by One Reporting Person ___ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)	4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/15/2013		P4	1582.88	A	$57.1126	227588.88	D
Common Stock	1/15/2014		P4	1424.186	A	$63.9211	229013.066	D
Common Stock	4/15/2014		P4	1349.81	A	$67.8653	230362.876	D
Common Stock	7/15/2014		P4	1353.144	A	$68.0971	231716.02	D
Common Stock	10/15/2014		P4	1508.109	A	$61.4587	233224.129	D
Common Stock	1/15/2015		P4	1186.95	A	$78.5961	234411.079	D
Common Stock	4/15/2015		P4	1640.323	A	$78.598	236051.402	D
Common Stock	7/15/2015		P4	2073.477	A	$62.6138	238124.879	D
Common Stock	10/15/2015		P4	1924.128	A	$68.0665	240049.007	D
Common Stock	1/15/2016		P4	2231.836	A	$59.1562	242280.843	D
Common Stock	4/15/2016		P4	2204.317	A	$60.4516	244485.16	D
Common Stock	7/15/2016		P4	1900.551	A	$70.7515	246385.711	D
Common Stock	10/14/2016		P4	1928.605	A	$80.4846	248314.316	D
Common Stock	4/15/2013		P4	436.66	A	$44.8941	63167.785	I	Through family limited partnership
Common Stock	7/15/2013		P4	501.419	A	$50.3912	63669.204	I	Through family limited partnership
Common Stock	10/15/2013		P4	445.921	A	$57.1126	64115.125	I	Through family limited partnership
Common Stock	1/15/2014		P4	401.214	A	$63.9211	64516.339	I	Through family limited partnership
Common Stock	4/15/2014		P4	380.261	A	$67.8653	64896.6	I	Through family limited partnership
Common Stock	7/15/2014		P4	381.2	A	$68.0971	65277.8	I	Through family limited partnership
Common Stock	10/15/2014		P4	424.856	A	$61.4587	65702.656	I	Through family limited partnership
Common Stock	1/15/2015		P4	334.381	A	$78.5961	66037.037	I	Through family limited partnership
Common Stock	4/15/2015		P4	462.103	A	$78.598	66499.14	I	Through family limited partnership
Common Stock	7/15/2015		P4	584.129	A	$62.6138	67083.269	I	Through family limited partnership
Common Stock	10/15/2015		P4	542.055	A	$68.0665	67625.324	I	Through family limited partnership
Common Stock	1/15/2016		P4	628.741	A	$59.1562	68254.065	I	Through family limited partnership
Common Stock	4/15/2016		P4	620.988	A	$60.4516	68875.053	I	Through family limited partnership
Common Stock	7/15/2016		P4	535.413	A	$70.7515	69410.466	I	Through family limited partnership
Common Stock	10/14/2016		P4	543.316	A	$80.4846	69953.782	I	Through family limited partnership

*Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (MM/DD/YYYY)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:
All transactions reported herein reflect the automatic reinvestment of dividends paid on issuer's common stock through reporting person's brokerage account. Reporting person discovered that such transactions had not been reported due to administrative oversight.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
MENCOFF SAMUEL M THREE FIRST NATIONAL PLAZA CHICAGO, IL 60602	X

Signatures
Kent A. Pflederer, attorney in fact		2/14/2017
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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