UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549



FORM 10-K



(Mark One)

[X]ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



For the fiscal year ended December 31, 2014



[_]TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



333-183014-01

(Commission file number of issuing entity)



WORLD OMNI AUTO RECEIVABLES TRUST 2012-B

(Exact name of issuing entity as specified
in its charter)



WORLD OMNI AUTO RECEIVABLES LLC

(Exact name of depositor as specified in
its charter)



WORLD OMNI FINANCIAL CORP.

(Exact name of sponsor as specified in its
charter)

---



Delaware

(State or other jurisdiction of incorporation
or organization)



52-2184798

(I.R.S. Employer Identification No.)



190 Jim Moran Boulevard

Deerfield Beach, FL 33442

(Address of principal
executive offices)



Registrant's telephone number, including
area code: (954) 429-2200



Securities registered pursuant to Section
12(b) of the Act:

None



Securities registered pursuant to Section
12(g) of the Act:

None







|Indicate by check mark if the registrant is a well−known seasoned issuer, as defined in Rule 405 of the Securities Act.                                                                                                                                                                                                                                                                | Yes ̈ |  | Nox
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- |  | ---
|                                                                                                                                                                                                                                                                                                                                                                                       |      |  |    
|Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.                                                                                                                                                                                                                                                           | Yes ̈ |  | Nox
|                                                                                                                                                                                                                                                                                                                                                                                       |      |  |    
|Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.                               | Yesx |  | No ̈
|                                                                                                                                                                                                                                                                                                                                                                                       |      |  |    
|Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Item 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). | Yes ̈ |  | No ̈
|                                                                                                                                                                                                                                                                                                                                                                                       |      |  |    
|Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.                      |      |  | x  





Indicate by check
mark whether the registrant is a large accelerated filer, an accelerated filer, a non−accelerated filer, or a smaller reporting
company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting
company” in Rule 12b−2 of the Exchange Act. (Check one):





| | Large accelerated filer                       |  ̈ |  | Accelerated filer         |  ̈
| | --------------------------------------------- | - |  | ------------------------- | -
| |                                               |   |  |                           |  
| | Non-accelerated filer                         | x |  | Smaller reporting company |  ̈
| | (Do not check if a smaller reporting company) |   |  |                          



Indicate by check
mark whether the registrant is a shell company (as defined in Rule 12b−2 of the Act).

Yes ̈Nox



State the aggregate
market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the
common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s
most recently completed second fiscal quarter.

Not applicable.



Indicate the number
of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.

Not applicable.





DOCUMENTS INCORPORATED BY REFERENCE



List hereunder the
following documents if incorporated by reference and the part of the Form 10−K (e.g., Part I, Part II, etc.) into which the
document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and, (3) Any prospectus
filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification
purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).

None
















World Omni Auto Receivables Trust 2012-B



PART I



| | Item 1. | Business.
| | ------- | ---------

| |  | Not Applicable.
| |  | ---------------



| | Item 1A. | Risk Factors.
| | -------- | -------------

| |  | Not Applicable.
| |  | ---------------



| | Item 1B. | Unresolved Staff Comments.
| | -------- | --------------------------

| |  | Not Applicable.
| |  | ---------------



| | Item 2. | Properties.
| | ------- | -----------

| |  | Not Applicable.
| |  | ---------------



| | Item 3. | Legal Proceedings.
| | ------- | ------------------

| |  | Not Applicable.
| |  | ---------------



| | Item 4. | Mine Safety Disclosures.
| | ------- | ------------------------

| |  | Not Applicable.
| |  | ---------------



Substitute Information Provided in Accordance with General
Instruction J to Form 10-K:



ITEM 1112(B) OF REGULATION AB. SIGNIFICANT OBLIGORS OF POOL
ASSETS (FINANCIAL INFORMATION).



No single obligor represents 10% or more
of the pool assets held by World Omni Auto Receivables Trust 2012-B (the "Trust").



ITEM 1114(B)(2) OF REGULATION AB. CREDIT ENHANCEMENT AND OTHER
SUPPORT, EXCEPT FOR CERTAIN DERIVATIVES INSTRUMENTS (INFORMATION REGARDING SIGNIFICANT ENHANCEMENT PROVIDERS).



No entity or group of affiliated entities
provides any external credit enhancement or other support with respect to either payment on the pool assets held by the Trust or
payments on the notes (the "Notes") or certificates (the "Certificates") issued by the Trust.



ITEM 1115(B) OF REGULATION AB. CERTAIN DERIVATIVE INSTRUMENTS
(FINANCIAL INFORMATION).



Based on the standards set forth in Item
1115(b) of Regulation AB, no information is required in response to this item.



ITEM 1117 OF REGULATION AB. LEGAL PROCEEDINGS.



The following events have been brought
to our attention by U.S. Bank National Association, in its capacity as indenture trustee:



“In June 2014
a civil complaint was filed in the Supreme Court of the State of New York, New York County, by a group of institutional investors
against U.S. Bank, in its capacity as trustee or successor trustee (as the case may be) under certain residential mortgage backed
securities ("RMBS") trusts. The plaintiffs are investment funds formed by nine investment advisors (AEGON, BlackRock,
Brookfield, DZ Bank, Kore, PIMCO, Prudential, Sealink and TIAA) that purport to be bringing suit derivatively on behalf of 841
RMBS trusts that issued $771 billion in original principal amount of securities between 2004 and 2008. According to the plaintiffs,
cumulative losses for these RMBS trusts equal $92.4 billion as of the date of the complaint. The complaint is one of six similar
complaints filed against RMBS trustees (Deutsche Bank, Citibank, HSBC, Bank of New York Mellon and Wells Fargo) by certain of these
plaintiffs. The complaint against U.S. Bank alleges the trustee caused losses to investors as a result of alleged failures by the
sponsors, mortgage loan sellers and servicers for these RMBS trusts and asserts causes of action based upon the trustee's purported
failure to enforce repurchase obligations of mortgage loan sellers for alleged breaches of representations and warranties concerning
loan quality. The complaint also asserts that the trustee failed to notify securityholders of purported events of default allegedly
caused by breaches by mortgage loan servicers and that the trustee purportedly failed to abide by appropriate standards of care
following events of default. Relief sought includes money damages in an unspecified amount and equitable relief. In November 2014,
the plaintiffs sought leave to voluntarily dismiss their original state court complaint and filed a substantially similar complaint
in the United States District Court for the Southern District of New York. The federal civil complaint added a class action allegation
and a change in the total number of named trusts to 843 RMBS trusts. In December 2014, the plaintiffs’ motion to voluntarily
dismiss their original state court complaint was granted. Other cases alleging similar causes of action have previously been filed
against U.S. Bank and other trustees by RMBS investors in other transactions.











There can be no assurances as to the outcome
of the litigation, or the possible impact of the litigation on the trustee or the RMBS trusts. However, U.S. Bank denies liability
and believes that it has performed its obligations under the RMBS trusts in good faith, that its actions were not the cause of
losses to investors and that it has meritorious defenses, and it intends to contest the plaintiffs’ claims vigorously.”



Except as described in the previous paragraphs,
no other legal proceedings are pending (or known to be contemplated by governmental authorities) against any of World Omni Financial
Corp. (the "Sponsor"), World Omni Auto Receivables LLC (the "Depositor"), U.S. Bank National Association (the
"Indenture Trustee"), the Trust or the other parties described in Item 1117 of Regulation AB nor is any property of any
of the foregoing entities subject to any such proceedings, that are material to holders of the Notes or the Certificates.





PART II



| | Item 5. | Market for Registrant's Common Equity, Related
Stockholder Matters and Issuer Purchases of Equity Securities.
| | ------- | -------------------------------------------------------------------------------------------------------------

| |  | Not applicable.
| |  | ---------------



| | Item 6. | Selected Financial Data.
| | ------- | ------------------------

| |  | Not applicable.
| |  | ---------------



| | Item 7. | Management’s Discussion and Analysis of Financial
Condition and Results of Operations.
| | ------- | --------------------------------------------------------------------------------------

| |  | Not applicable.
| |  | ---------------



| | Item 7A. | Quantitative and Qualitative Disclosures About
Market Risk.
| | -------- | -----------------------------------------------------------

| |  | Not applicable.
| |  | ---------------



| | Item 8. | Financial Statements and Supplementary Data.
| | ------- | --------------------------------------------

| |  | Not applicable.
| |  | ---------------



| | Item 9. | Changes In and Disagreements With Accountants on
Accounting and Financial Disclosure.
| | ------- | -------------------------------------------------------------------------------------

| |  | Not applicable.
| |  | ---------------



| | Item 9A. | Controls and Procedures.
| | -------- | ------------------------

| |  | Not applicable.
| |  | ---------------



| | Item 9B. | Other Information.
| | -------- | ------------------

| |  | Not applicable.
| |  | ---------------



PART III



| | Item 10. | Directors, Executive Officers and Corporate Governance.
| | -------- | -------------------------------------------------------

| |  | Not applicable because there are no directors or executive officers of the registrant.
| |  | --------------------------------------------------------------------------------------



| | Item 11. | Executive Compensation.
| | -------- | -----------------------

| |  | Not applicable.
| |  | ---------------



| | Item 12. | Security Ownership of Certain Beneficial Owners
and Management and Related Stockholder Matters.
| | -------- | -----------------------------------------------------------------------------------------------

| |  | Not Applicable.
| |  | ---------------



| | Item 13. | Certain Relationships and Related Transactions,
and Director Independence.
| | -------- | --------------------------------------------------------------------------

| |  | Not applicable.
| |  | ---------------





| | Item 14. | Principal Accountant Fees and Services.
| | -------- | ---------------------------------------

| |  | Not applicable.
| |  | ---------------









Substitute Information Provided in Accordance with General
Instruction J to Form 10-K:



ITEM 1119 OF REGULATION AB. AFFILIATIONS AND CERTAIN RELATIONSHIPS
AND RELATED TRANSACTIONS.



The Sponsor is the originator, as contemplated
by Item 1110 of Regulation AB, of all of the pool assets owned by the Trust. The Sponsor is also the primary servicer. The Depositor
is a wholly-owned subsidiary of the Sponsor and, therefore, a wholly-owned subsidiary of the originator and the primary servicer.
Through its purchase of the Certificates, the Depositor has acquired a 100% ownership interest in the Trust; therefore, the Trust
is an affiliated party of the Depositor and, indirectly, of the Sponsor (including in its role as originator and primary servicer).



The Indenture Trustee is not affiliated
with any of the Sponsor (including in its role as originator and primary servicer), the Depositor or the Trust.



There are no significant obligors, external
enhancement or support providers, or other material parties related to the Notes or Certificates.



In addition, there are no business relationships,
agreements, arrangements, transactions or understandings outside the ordinary course of business or on terms other than would be
obtained in an arm's length transaction with an unrelated party, apart from the transaction involving the issuance of the Notes
and Certificates by the Trust, between the Sponsor, the Depositor or the Trust and any of the parties mentioned in this Item.



ITEM 1122 OF REGULATION AB. COMPLIANCE WITH APPLICABLE SERVICING
CRITERIA.



The Sponsor (in its role as servicer) and
the Indenture Trustee (collectively, the "Servicing Parties") have each been identified by the registrant as parties
participating in the servicing function with respect to the asset pool held by the Trust. Each of the Servicing Parties has completed
a report on an assessment of compliance with the servicing criteria applicable to it under Item 1122 of Regulation AB (each, a
"Servicing Report"), which Servicing Reports are attached as exhibits to this Form 10-K. In addition, each of the Servicing
Parties has provided an attestation report (each, an "Attestation Report") by one or more registered public accounting
firms, which reports are also attached as exhibits to this Form 10-K. Neither of the Servicing Reports prepared by the Servicing
Parties, or the corresponding Attestation Reports, has identified any material instance of noncompliance with the servicing criteria
applicable to the respective Servicing Party.



ITEM 1123 OF REGULATION AB. SERVICER COMPLIANCE STATEMENT.



The Sponsor (in its role as servicer) has
been identified by the registrant as servicer with respect to the asset pool held by the Trust. The Sponsor has completed a statement
of compliance (a "Compliance Statement"), signed by an authorized officer of the Sponsor. The Compliance Statement is
attached as an exhibit to this Form 10-K.



PART IV



| | Item 15. | Exhibits, Financial Statement Schedules.
| | -------- | ----------------------------------------



| | (a)(1) | Not applicable.
| | ------ | ---------------

| | (a)(2) | Not applicable.
| | ------ | ---------------

| | (a)(3) | See Item 15(b) below.
| | ------ | ---------------------



| | (b) | The following documents are included as part of, or
incorporated by reference to, this annual report:
| | --- | -----------------------------------------------------------------------------------------------------



Exhibit No.



| | 1.1 | Underwriting Agreement, dated as of October 17, 2012, relating to the Trust. Incorporated by reference to Exhibit 1.1 to the
Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission on October 24,
2012.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.1 | Certificate of Formation of the Depositor.Incorporated by reference toExhibit 3.1 tothe Registrant’sForm S-3, Registration File Number 333-183014,
filed on August 2, 2012.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.2 | Limited Liability Company Agreement of the Depositor. Incorporated by reference to Exhibit 3.1 to the Registrant’s Form
S-3, Registration File Number 333-35542, filed on April 25, 2000.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.3 | Amendment No. 1 to Limited Liability Company Agreement of the Depositor. Incorporated by reference to Exhibit 3.2 to the Registrant’s
Form S-3, Registration File Number 333-159392, filed on August 11, 2009.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.1 | Sale and Servicing Agreement, dated as of October 24, 2012, relating to the Trust. Incorporated by reference to Exhibit 4.1
to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission on October
24, 2012.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.2 | Indenture, dated as of October 24, 2012, relating to the Trust. Incorporated by reference to Exhibit 4.2 to the Registrant’s
Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission on October 24, 2012.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.3 | Trust Agreement, dated as of October 24, 2012, relating to the Trust. Incorporated by reference to Exhibit 4.3 to the Registrant’s
Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission on October 24, 2012.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 31.1 | Rule 13a-14(d)/15d-14(d) Certification.
| | ---- | ---------------------------------------



| | 33.1 | Report on Assessment of Compliance with Applicable Servicing Criteria of World Omni Financial Corp., as Servicer.
| | ---- | -----------------------------------------------------------------------------------------------------------------



| | 33.2 | Management’s Assertion Report on Compliance with Servicing Criteria Pursuant to Item 1122 of Regulation AB under the
Securities Exchange Act of 1934 of U.S. Bank National Association, as Indenture Trustee.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 34.1 | Report of Independent Registered Certified Public Accounting Firm of PricewaterhouseCoopers LLP, on behalf of World Omni Financial
Corp.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------



| | 34.2 | Report of Independent Registered Public Accounting Firm of Ernst & Young LLP, on behalf of U.S. Bank National Association.
| | ---- | --------------------------------------------------------------------------------------------------------------------------



| | 35.1 | Servicer Compliance Statement of World Omni Financial Corp., as Servicer.
| | ---- | -------------------------------------------------------------------------



| | 99.1 | Receivables Purchase Agreement, dated as of October 24, 2012, relating to the Trust. Incorporated by reference to Exhibit 99.1
to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission on October
24, 2012.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 99.2 | Administration Agreement, dated as of October 24, 2012, relating to the Trust. Incorporated by reference to Exhibit 99.2 to
the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission on October
24, 2012.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | Not applicable.
| | --- | ---------------









SIGNATURES





Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.





World Omni Auto Receivables Trust 2012-B



By: World Omni Financial Corp.,

as Servicer on behalf of the Trust







Date: March
13, 2015



By: /s/ Michael Pritchard

Michael
Pritchard

Group Vice President, Operations

(Senior officer in charge of the servicing function)

World Omni Financial Corp.

(Servicer on behalf of the Trust)





Supplemental Information
to be Furnished With Reports Filed Pursuant to Section 15(d) of the Act by Registrants Which Have Not Registered Securities Pursuant
to Section 12 of the Act.



No annual report or proxy
materials have been sent to security holders and no such report or proxy materials are to be furnished to security holders subsequent
to the filing of this Annual Report on Form 10-K.









EXHIBIT INDEX



| | 1.1 | Underwriting Agreement, dated as of October 17, 2012, relating to the Trust. Incorporated by reference
to Exhibit 1.1 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission
on October 24, 2012.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.1 | Certificate of Formation of the Depositor.Incorporated by reference toExhibit 3.1 tothe Registrant’sForm S-3, Registration File Number 333-183014,
filed on August 2, 2012.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.2 | Limited Liability Company Agreement of the Depositor. Incorporated by reference to Exhibit 3.1 to the Registrant’s Form
S-3, Registration File Number 333-35542, filed on April 25, 2000.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.3 | Amendment No. 1 to Limited Liability Company Agreement of the Depositor. Incorporated by reference to Exhibit 3.2 to the Registrant’s
Form S-3, Registration File Number 333-159392, filed on August 11, 2009.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.1 | Sale and Servicing Agreement, dated as of October 24, 2012, relating to the Trust. Incorporated
by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed
with the Commission on October 24, 2012.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.2 | Indenture, dated as of October 24, 2012, relating to the Trust. Incorporated by reference to Exhibit
4.2 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission on
October 24, 2012.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.3 | Trust Agreement, dated as of October 24, 2012, relating to the Trust. Incorporated by reference
to Exhibit 4.3 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed with the Commission
on October 24, 2012.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 31.1 | Rule 13a-14(d)/15d-14(d) Certification.
| | ---- | ---------------------------------------



| | 33.1 | Report on Assessment of Compliance with Applicable Servicing Criteria of World Omni Financial Corp.,
as Servicer.
| | ---- | -----------------------------------------------------------------------------------------------------------------



| | 33.2 | Management’s Assertion Report on Compliance with Servicing Criteria Pursuant to Item 1122
of Regulation AB under the Securities Exchange Act of 1934 of U.S. Bank National Association, as Indenture Trustee.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 34.1 | Report of Independent Registered Certified Public Accounting Firm of PricewaterhouseCoopers LLP,
on behalf of World Omni Financial Corp.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------



| | 34.2 | Report of Independent Registered Public Accounting Firm of Ernst & Young LLP, on behalf of
U.S. Bank National Association.
| | ---- | --------------------------------------------------------------------------------------------------------------------------



| | 35.1 | Servicer Compliance Statement of World Omni Financial
Corp., as Servicer.
| | ---- | -------------------------------------------------------------------------



| | 99.1 | Receivables Purchase Agreement, dated as of October 24, 2012, relating to the Trust. Incorporated
by reference to Exhibit 99.1 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed
with the Commission on October 24, 2012.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 99.2 | Administration Agreement, dated as of October 24, 2012, relating to the Trust. Incorporated by
reference to Exhibit 99.2 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-01, filed with
the Commission on October 24, 2012.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------