Rapid economic and population growth in high-seismic regions and increased vulnerability of aging infrastructure has raised seismic risk around the globe. Recently, functional recovery paradigm has been introduced as a holistic approach to include not only conventional safety criteria but also novel resilience measures in seismic performance assessment and design of buildings. This paper presents a new component-based seismic multi-dimensional functional recovery analysis method for reinforced concrete (RC) building structures and explores corrosion impact on its lifecycle functionality. Various structural and non-structural components affecting occupancy or serviceability of the building are included in loss analysis using FEMA P-58 fragility specification database. Multi-dimensional functionality curves, including asset, occupancy, and serviceability functionality curves, are developed to depict the post-earthquake recovery path. A new method is introduced to evaluate a holistic resilience index evaluated based on functionality curves. Intensity-based approach is used to quantify seismic monetary loss and downtime. Time-history and incremental dynamic analyses are used to develop fragility functions. A set of 4-story RC building archetypes located in a high seismic region are studied. Further, the impact of corrosion in various stories on seismic resilience and functional recovery of RC frames is studied. Uncertainty in demand, modelling, and component-level seismic losses are included. Finite element models of corroded and uncorroded RC archetypes are developed in OpenSees. The recently developed SFI-MVLEM element is used to model the dynamic nonlinear behavior of shear walls. Results indicate that high-intensity earthquakes result in significant loss of occupancy while low-intensity earthquakes cause a noticeable loss of serviceability and minor loss of occupancy.