We present images of L1551 IRS5 at angular resolutions as high as ~30 mas, corresponding to a spatial resolution of ~5 AU, made at 7 mm with the VLA. Previously known to be a binary protostellar system, we show that L1551 IRS5 is likely a triple protostellar system. The primary and secondary components have a projected separation of ~46 AU, whereas the tertiary component has a projected separation of ~11 AU from the primary component. The circumstellar dust disks of the primary and secondary components have dimensions of ~15 AU, whereas that of the tertiary component has a dimension of ~10 AU. Their major axes are closely, but not perfectly, aligned with each other, as well as the major axis of the surrounding flattened, rotating, and contracting molecular condensation (pseudodisk). Furthermore, the orbital motion of the primary and secondary components is in the same direction as the rotational motion of this pseudodisk. We suggest that all three protostellar components formed as a result of the fragmentation of the central region of the molecular pseudo disk. The primary and secondary components, but apparently not the tertiary component, each exhibits a bipolar ionized jet that is centered on and which emergers perpendicular to its associated dust disk. Neither jets are resolved along their base, implying that they are driven within a radial distance of ~2.5 AU from their central protostars. Finally, we show evidence for what may be dusty matter streams feeding the two main protostellar components.