Are the observations/respondents in the 2012-2016 5 year estimates the same as the 2012-2016 1 year estimates?
Correct. The 5-year files are essentially concatenations of the 5 1-year files, so all observations from the 5-year files are present in the individual 1-year files. You can identify which 1-year file the respondent is from with the MULTYEAR variable.