Purpose. To show capabilities of topological models of three-phase, five-limb transformer to correctly represent transformer operation in regimes with high flux densities in the core. As a practically important example, time domain response of transformer subjected to geomagnetically induced currents (GIC) is analyzed and compared with results of a comprehensive field experiment.Methodology. Transformer magnetic model, which takes into account geometry of the core and windings, is transformed in a dual electric equivalent scheme, whose transient is calculated by using EMTP-ATP. The results obtained demonstrate the importance of incorporating the positive and zero sequence impedances of power network.Findings. A simple and reliable model of five-limb transformer is proposed. It was found that the presence of the transformer tank can be effectively accounted for by linear inductances representing the paths of the off-core fluxes from yoke to yoke. The modeling of GIC events represented in the paper is the most accurate ever obtained for three-phase, five-leg transformers. The model is validated by close agreement of the predicted values and waveforms of the phase currents and reactive power with those measured in tests performed on two 400 MVA transformers connected back-to-back and to a 400 kV power network. Originality. It is shown that a simplified non-hysteresis model developed portrays the behavior of the of five-limb transformer under GIC condition with the same good accuracy as its hysteresis model. Both the transformer models are well grounded. So, the paper dispels some misconceptions about the influence of the hysteresis properties of the core material and tank in transient modeling of five-leg transformers.Practical value. The practical value and significance of the paper is caused by the fact that the model proposed is a simple and reliable tool for power system studies. The paper warns of using unnecessary complicated models whose parameters are difficult to be estimated by experiments or calculations.