diff --git a/.spelling b/.spelling
index aa51076c83..58e90a8be0 100644
--- a/.spelling
+++ b/.spelling
@@ -1140,4 +1140,8 @@ CommandLineParameterParser
 jackerr3
 preview.8.20407.11
 pre-check
+davidreis97
+soccypowa
+nologo
+InstallLocation
 jcotton42
diff --git a/CHANGELOG/preview.md b/CHANGELOG/preview.md
index 525cea149c..666440b0f3 100644
--- a/CHANGELOG/preview.md
+++ b/CHANGELOG/preview.md
@@ -1,5 +1,62 @@
 # Current preview release
 
+## [7.1.0-rc.1] - 2020-09-29
+
+### Engine Updates and Fixes
+
+- Make fixes to `ComInterop` code as suggested by .NET team (#13533)
+
+### General Cmdlet Updates and Fixes
+
+- Fix case where exception message contains just ``"`n"`` on Windows (#13684)
+- Recognize `CONOUT$` and `CONIN$` as reserved device names (#13508) (Thanks @davidreis97!)
+- Fix `ConciseView` for interactive advanced function when writing error (#13623)
+
+### Code Cleanup
+
+<details>
+
+<summary>
+
+<p>We thank the following contributors!</p>
+<p>@xtqqczze, @soccypowa</p>
+
+</summary>
+
+<ul>
+<li>Simplify logical negation (#13555) (Thanks @xtqqczze!)</li>
+<li>Fixed the indentation of the help content for <code>-nologo</code> (#13557) (Thanks @soccypowa!)</li>
+</ul>
+
+</details>
+
+### Build and Packaging Improvements
+
+<details>
+
+<summary>
+
+<p>We thank the following contributors!</p>
+<p>@heaths</p>
+
+</summary>
+
+<ul>
+<li>Bump <code>NJsonSchema</code> from 10.1.24 to 10.1.26 (#13586)</li>
+<li>Bump <code>PowerShellGet</code> from 2.2.4 to 2.2.5 (#13683)</li>
+<li>Bump <code>Microsoft.ApplicationInsights</code> from 2.14.0 to 2.15.0 (#13639)</li>
+<li>Update PowerShell to build against dotnet 5.0-RC.1 (#13643)</li>
+<li>Write the <code>InstallLocation</code> to fixed registry key (#13576) (Thanks @heaths!)</li>
+</ul>
+
+</details>
+
+### Documentation and Help Content
+
+- Update `README` and `metadata.json` for `7.1.0-preview.7` release (#13565)
+
+[7.1.0-rc.1]: https://github.com/PowerShell/PowerShell/compare/v7.1.0-preview.7...v7.1.0-rc.1
+
 ## [7.1.0-preview.7] - 2020-09-08
 
 ### Breaking Changes
diff --git a/README.md b/README.md
index 907942d885..c98f74436c 100644
--- a/README.md
+++ b/README.md
@@ -87,23 +87,23 @@ You can also download the PowerShell binary archives for Windows, macOS and Linu
 [rl-arm64]: https://github.com/PowerShell/PowerShell/releases/download/v7.0.3/powershell-7.0.3-linux-arm64.tar.gz
 [rl-snap]: https://snapcraft.io/powershell
 
-[pv-windows-64]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/PowerShell-7.1.0-preview.7-win-x64.msi
-[pv-windows-86]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/PowerShell-7.1.0-preview.7-win-x86.msi
-[pv-ubuntu18]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-preview_7.1.0-preview.7-1.ubuntu.18.04_amd64.deb
-[pv-ubuntu16]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-preview_7.1.0-preview.7-1.ubuntu.16.04_amd64.deb
-[pv-debian9]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-preview_7.1.0-preview.7-1.debian.9_amd64.deb
-[pv-debian10]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-preview_7.1.0-preview.7-1.debian.10_amd64.deb
-[pv-centos]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-preview-7.1.0_preview.7-1.rhel.7.x86_64.rpm
-[pv-centos8]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-preview-7.1.0_preview.7-1.centos.8.x86_64.rpm
+[pv-windows-64]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/PowerShell-7.1.0-rc.1-win-x64.msi
+[pv-windows-86]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/PowerShell-7.1.0-rc.1-win-x86.msi
+[pv-ubuntu18]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-preview_7.1.0-rc.1-1.ubuntu.18.04_amd64.deb
+[pv-ubuntu16]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-preview_7.1.0-rc.1-1.ubuntu.16.04_amd64.deb
+[pv-debian9]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-preview_7.1.0-rc.1-1.debian.9_amd64.deb
+[pv-debian10]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-preview_7.1.0-rc.1-1.debian.10_amd64.deb
+[pv-centos]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-preview-7.1.0_rc.1-1.rhel.7.x86_64.rpm
+[pv-centos8]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-preview-7.1.0_rc.1-1.centos.8.x86_64.rpm
 [pv-macos]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-7.1.0-preview.7-osx-x64.pkg
-[pv-winarm]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/PowerShell-7.1.0-preview.7-win-arm32.zip
-[pv-winarm64]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/PowerShell-7.1.0-preview.7-win-arm64.zip
-[pv-winx86-zip]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/PowerShell-7.1.0-preview.7-win-x86.zip
-[pv-winx64-zip]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/PowerShell-7.1.0-preview.7-win-x64.zip
+[pv-winarm]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/PowerShell-7.1.0-rc.1-win-arm32.zip
+[pv-winarm64]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/PowerShell-7.1.0-rc.1-win-arm64.zip
+[pv-winx86-zip]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/PowerShell-7.1.0-rc.1-win-x86.zip
+[pv-winx64-zip]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/PowerShell-7.1.0-rc.1-win-x64.zip
 [pv-macos-tar]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-7.1.0-preview.7-osx-x64.tar.gz
-[pv-linux-tar]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-7.1.0-preview.7-linux-x64.tar.gz
-[pv-arm32]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-7.1.0-preview.7-linux-arm32.tar.gz
-[pv-arm64]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-preview.7/powershell-7.1.0-preview.7-linux-arm64.tar.gz
+[pv-linux-tar]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-7.1.0-rc.1-linux-x64.tar.gz
+[pv-arm32]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-7.1.0-rc.1-linux-arm32.tar.gz
+[pv-arm64]: https://github.com/PowerShell/PowerShell/releases/download/v7.1.0-rc.1/powershell-7.1.0-rc.1-linux-arm64.tar.gz
 [pv-snap]: https://snapcraft.io/powershell-preview
 
 [in-windows]: https://docs.microsoft.com/powershell/scripting/install/installing-powershell-core-on-windows
diff --git a/tools/metadata.json b/tools/metadata.json
index 690a4fd143..bbe7dddf68 100644
--- a/tools/metadata.json
+++ b/tools/metadata.json
@@ -1,6 +1,6 @@
 {
   "StableReleaseTag": "v7.0.3",
-  "PreviewReleaseTag": "v7.1.0-preview.7",
+  "PreviewReleaseTag": "v7.1.0-rc.1",
   "ServicingReleaseTag": "v6.2.7",
   "ReleaseTag": "v7.0.3",
   "LTSReleaseTag" : ["v7.0.3"],