diff --git a/CHANGES.md b/CHANGES.md
index 2e7e4be5a..3d027ae25 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,3 +1,31 @@
+# Synapse 1.103.0rc1 (2024-03-12)
+
+### Features
+
+- Add a new [List Accounts v3](https://element-hq.github.io/synapse/v1.103/admin_api/user_admin_api.html#list-accounts-v3) Admin API with improved deactivated user filtering capabilities. ([\#16874](https://github.com/element-hq/synapse/issues/16874))
+- Include `Retry-After` header by default per [MSC4041](https://github.com/matrix-org/matrix-spec-proposals/pull/4041). Contributed by @clokep. ([\#16947](https://github.com/element-hq/synapse/issues/16947))
+
+### Bugfixes
+
+- Fix joining remote rooms when a module uses the `on_new_event` callback. This callback may now pass partial state events instead of the full state for remote rooms. Introduced in v1.76.0. ([\#16973](https://github.com/element-hq/synapse/issues/16973))
+
+### Improved Documentation
+
+- Add HAProxy example for single port operation to reverse proxy documentation. Contributed by Georg Pfuetzenreuter (@tacerus). ([\#16768](https://github.com/element-hq/synapse/issues/16768))
+- Improve the documentation around running Complement tests with new configuration parameters. ([\#16946](https://github.com/element-hq/synapse/issues/16946))
+- Add docs on upgrading from a very old version. ([\#16951](https://github.com/element-hq/synapse/issues/16951))
+
+
+### Updates to locked dependencies
+
+* Bump JasonEtco/create-an-issue from 2.9.1 to 2.9.2. ([\#16934](https://github.com/element-hq/synapse/issues/16934))
+* Bump anyhow from 1.0.79 to 1.0.80. ([\#16935](https://github.com/element-hq/synapse/issues/16935))
+* Bump dawidd6/action-download-artifact from 3.0.0 to 3.1.1. ([\#16933](https://github.com/element-hq/synapse/issues/16933))
+* Bump furo from 2023.9.10 to 2024.1.29. ([\#16939](https://github.com/element-hq/synapse/issues/16939))
+* Bump pyopenssl from 23.3.0 to 24.0.0. ([\#16937](https://github.com/element-hq/synapse/issues/16937))
+* Bump types-netaddr from 0.10.0.20240106 to 1.2.0.20240219. ([\#16938](https://github.com/element-hq/synapse/issues/16938))
+
+
 # Synapse 1.102.0 (2024-03-05)
 
 ### Bugfixes
diff --git a/changelog.d/16768.doc b/changelog.d/16768.doc
deleted file mode 100644
index 4f574c2ac..000000000
--- a/changelog.d/16768.doc
+++ /dev/null
@@ -1 +0,0 @@
-Add HAProxy example for single port operation to reverse proxy documentation. Contributed by Georg Pfuetzenreuter (@tacerus).
diff --git a/changelog.d/16874.feature b/changelog.d/16874.feature
deleted file mode 100644
index 6e5afdde3..000000000
--- a/changelog.d/16874.feature
+++ /dev/null
@@ -1 +0,0 @@
-Add a new [List Accounts v3](https://element-hq.github.io/synapse/v1.103/admin_api/user_admin_api.html#list-accounts-v3) Admin API with improved deactivated user filtering capabilities.
\ No newline at end of file
diff --git a/changelog.d/16946.doc b/changelog.d/16946.doc
deleted file mode 100644
index 8037a6545..000000000
--- a/changelog.d/16946.doc
+++ /dev/null
@@ -1 +0,0 @@
-Improve the documentation around running Complement tests with new configuration parameters.
\ No newline at end of file
diff --git a/changelog.d/16947.feature b/changelog.d/16947.feature
deleted file mode 100644
index efd0dbddb..000000000
--- a/changelog.d/16947.feature
+++ /dev/null
@@ -1 +0,0 @@
-Include `Retry-After` header by default per [MSC4041](https://github.com/matrix-org/matrix-spec-proposals/pull/4041). Contributed by @clokep.
diff --git a/changelog.d/16951.doc b/changelog.d/16951.doc
deleted file mode 100644
index a7fb33979..000000000
--- a/changelog.d/16951.doc
+++ /dev/null
@@ -1 +0,0 @@
-Add docs on upgrading from a very old version.
\ No newline at end of file
diff --git a/changelog.d/16973.bugfix b/changelog.d/16973.bugfix
deleted file mode 100644
index a0e3a1230..000000000
--- a/changelog.d/16973.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Fix joining remote rooms when a module uses the `on_new_event` callback. This callback may now pass partial state events instead of the full state for remote rooms.
diff --git a/debian/changelog b/debian/changelog
index df0ab0dcd..ac128e535 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+matrix-synapse-py3 (1.103.0~rc1) stable; urgency=medium
+
+  * New Synapse release 1.103.0rc1.
+
+ -- Synapse Packaging team <packages@matrix.org>  Tue, 12 Mar 2024 15:02:56 +0000
+
 matrix-synapse-py3 (1.102.0) stable; urgency=medium
 
   * New Synapse release 1.102.0.
diff --git a/pyproject.toml b/pyproject.toml
index c360d60ec..2bda9596f 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -96,7 +96,7 @@ module-name = "synapse.synapse_rust"
 
 [tool.poetry]
 name = "matrix-synapse"
-version = "1.102.0"
+version = "1.103.0rc1"
 description = "Homeserver for the Matrix decentralised comms protocol"
 authors = ["Matrix.org Team and Contributors <packages@matrix.org>"]
 license = "AGPL-3.0-or-later"