Update: latest amendments modify the aforementioned LTE compatibility list.
The Mi 5 actually plays well with 4G FDD-LTE bands 1, 3 and 7, as well as TDD-LTE 38, 39, 40 and 41. From the 3G bands, TD-SCDMA works with bands 34 and 39, WCDMA has bands 1, 2, 5 and 8 and CDMA 2000 has bands BC0 and BC1. The bands for 2G GSM are 2, 3, 5 and 8 and for 2G CDMA 1X are BC0 and BC1.
You can learn more about supported network bands from Xiaomi's website.
Xiaomi used its stage time at the 2016 Mobile World Congress to showcase the Xiaomi Mi 5, and recent LTE band support info could be very interesting to U.S. citizens.
In a long Q&A list on the official MIUI website, Xiaomi detailed aspects about its latest smartphone, including information about the 4G LTE.
According to the answers that Xiaomi provided, the Mi 5 supports a large number of LTE bands: 1, 2, 3, 4, 5, 7/ 8/ 12/ 13/ 17/ 18/ 19/ 20/ 25/ 26/ 27/ 28/ 29. However, the OEM notes that there are a few 'uncertain' LTE bands: 38/ 39/ 40/ 41.
What this means is that a Mi 5 could work with any SIM from the major U.S. carriers, whether we are talking about Sprint, Verizon, and AT&T and T-Mobile. The amended network bands, however, cast doubts on the Mi 5's compatibility with all U.S. carriers.