The record for earliest fifth named storm is 2005's Emily which formed on July 12 of that year.
It is expected to continue to move in that direction and could become a tropical storm Saturday night or early Sunday.
Rain and wind have died down across Bermuda as the depression has swept to the northeast of the islands.
Tropical Depression Five can turn into a tropical storm sometime on Sunday.
Update: The BWS said the Depression is no longer a threat.
An area of low pressure will be forming off the Florida Gulf Coast and has a 40% chance of development over the next 5 days.
Wind shear is the change in the flow of air at different layers of the atmosphere and over the horizontal area just above the sea surface. Isolated storms may have strong gusts. There will be no threat to land as it is moving away from the United States.
Tropical Depression 5 no longer a threat
There are between 13 and 19 named storms predicted during the Atlantic hurricane season, which runs from June 1 to November 30, forecasters at the National Oceanic Administration's Climate Prediction Center (CPC) said last month.
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