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In this work, non-planar, multi-gate InGaAs quantum well field effect transistors (QWFETs) with high-K gate dielectric and ultra-scaled gate-to-drain and gate-to-source separations (LSIDE) of 5nm are reported for the first time. The high-K gate dielectric formed on this non-planar device structure has the expected thin TOXE of 20.5Å with low JG, and high quality gate dielectric interface. The simplified S/D scheme is needed for the non-planar architecture while achieving significant reduction in parasitic resistance. Compared to the planar high-K InGaAs QWFET with similar TOXE, the non-planar, multi-gate InGaAs QWFET shows significantly improved electrostatics due to better gate control. The results of this work show that non-planar, multi-gate device architecture is an effective way to improve the scalability of III-V QWFETs for low power logic applications.