NPHET has recommended the highest level of restrictions for the entire country in a letter sent to the Government tonight.
The three party leaders in Government will meet with the Chief Medical Officer tomorrow to discuss it.
The National Public Health Emergency Team met for a previously unscheduled meeting earlier due to concerns over the rising Covid-19 numbers. The meeting was chaired by Chief Medical Officer Dr Tony Holohan.
Level 5 restrictions would recommend people stay at home and exercise within 5km of their house.
Dublin and Donegal are currently on Level Three restrictions as part of the Government's Living with Covid-19 plan.
According to HSE figures, there were 132 Covid-19 cases in hospital at 8pm on Saturday evening, 20 of these are in intensive care.
There have been 364 additional Covid-19 cases recorded in the Republic of Ireland today, with no further deaths.
There has now been a total of 1,810 Covid-19 related deaths, and 38,032 confirmed cases, in Ireland.