This paper proposes a sequential Phase-Shifted Model Predictive Control (PS-MPC) strategy for a single-phase five-level H-bridge flying capacitor converter. The optimal control problem is formulated to regulate the output current and both of the internal floating capacitor voltages. The proposed sequential PS-MPC strategy achieves a fixed switching frequency, which is beneficial in terms semiconductor loss distribution, and also to ensure that a high-bandwidth is achieved that compares favorably to the finite-control-set MPC (FCS-MPC) case. Simulation results of the proposed sequential PS-MPC strategy, providing current tracking control for a passive load, are presented to verify the transient and steady-state performance that can be achieved.