One of the main disadvantages of the multi-level solid-state transformer (SST) system is the voltage imbalance on the output of the rectifier modules. This voltage imbalance can be caused by parameter mismatch of the active and passive components, different loads, and the floating structure of the high voltage DC-links. Some studies have been done to solve this voltage imbalance problem. A common way to avoid this imbalance is to balance the voltage of DC-links at the AC/DC conversion stage and balance the power between the modules at the DC/DC conversion stage. Most of these methods require a complex balancing controller or additional circuits. This paper proposes a novel dual active bridge (DAB) converter specialized in power balancing in a single-phase 5-level SST system. The proposed DAB converter does not require any additional balancing controllers or techniques for power balancing. The performance of the proposed DAB converter was verified by simulation and experiments using a 3 kW 5-level SST prototype system.