**UNITED STATESSECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

 

**FORM 10-K/A**

 

AMENDMENT NO. 1 TO ANNUAL REPORT PURSUANT TO SECTION 13 OR15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year endedJanuary 1, 2005

 

**Commission file number  0-26930**

 

**TARGET CREDIT CARD MASTER TRUST**

(Issuer of the Certificates)

 

**TARGET RECEIVABLES CORPORATION**

(Originator of the TrustDescribed Herein)(Exact name of Registrant as Specified in its Charter)

 
| Minnesota                                   |   | 41-1812153                |
|---------------------------------------------|--------|---------------------------|
| (State of  Incorporation)                   |   | (I.R.S. Employer ID  No.) |
|                                        |   |                      |
| 1000 Nicollet Mall, 31st  Floor, Suite 3136 |   |                      |
| Minneapolis, Minnesota                      |   | 55403                     |
| (Address of principal  executive offices)   |   | (Zip Code)                |

 

Registrant’s telephone number, including area code:  612/696-3102

Securities registered pursuant to Section 12(b) of the Act:     None

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

 

Floating Rate Class AAsset Backed Certificates, Series 2001-1

Floating Rate Class AAsset Backed Certificates, Series 2002-1

(Title of Class)

 

Indicate by check mark whether the registrant (1) has filed all reportsrequired to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days. Yes X  No __

 

Indicate by check mark whether the registrant is an accelerated filer(as defined in Exchange Act Rule 12b-2). Yes __  No X

 

The registrant has no voting stock or non-voting common equity held bynon-affiliates and meets the conditions set forth in General InstructionI(1)(a) and (b) of Form 10-K.  Disclosurepursuant to Item 405 of Regulation S-K is not required.

 

 

Explanatory Note:

 

Registrant is filing Amendment No. 1 to its Annual Report on Form10-K for its fiscal year ended January 1, 2005 (originally filed with theSecurities and Exchange Commission on March 28, 2005).  Amendment No.1 includes information which was omitted in the original filing under Item 15. The following data has been amended:

 

•                    InformationRegarding Interest and Principal Distributed (Stated on the Basis of $1,000Original Principal Amount) for Series 2001-1 [sections (A)(1) and (A)(3) ofExhibit 99.2]

 

•                    PrincipalReceivables in the Trust [section (B)(4)(a) of Exhibit 99.2]

 

•                    DelinquentBalances [section (B)(5) of Exhibit 99.2]

 

The complete text of Item 15 and the Exhibit Index, including are-executed certification, is included pursuant to Rule12b-15 under the Securities Act of 1934, as amended.  AmendmentNo. 1 does not update any other disclosures to reflect developments since theoriginal date of filing.  Unaffected Items have not been repeated inAmendment No. 1, and no other changes have been made.

 

 

**SIGNATURES**

 

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

 
|                                | TARGET RECEIVABLES CORPORATION |
|-------------------------------------|--------------------------------|
|                                |                           |   |
|                                |                           |   |
| Dated:   May 6, 2005 | By                             | /s/ Douglas A. Scovanner |
|                                |                           |   | Douglas A. Scovanner, |
|                                |                           |   | President and Director |

 

Pursuant to the requirements of the Securities Exchange Act of 1934,this report has been signed below by the following persons on behalf of TargetReceivables Corporation and in the capacities and on the dates indicated.

 
| **Signature**            |       | **Title**                                                             |       | **Date**    |
|--------------------------|------------|-----------------------------------------------------------------------|------------|-------------|
|                     |       |                                                                  |       |        |
|                     |       |                                                                  |       |        |
| /s/ Douglas A. Scovanner |       |                                                                  |       |        |
| Douglas A. Scovanner     | ** ** | President and Director (Principal Accounting  Officer)                | ** ** | May 6, 2005 |
|                     |       |                                                                  |       |        |
|                     |       |                                                                  |       |        |
| /s/ Sara J. Ross         |       |                                                                  |       |        |
| Sara J. Ross             |       | Vice President, Treasurer and Director (Principal  Financial Officer) |       | May 6, 2005 |
|                     |       |                                                                  |       |        |
|                     |       |                                                                  |       |        |
| /s/ Terrence J. Scully   |       |                                                                  |       |        |
| Terrence J. Scully       |       | Vice President and  Director                                          |       | May 6, 2005 |

 

 

**EXHIBIT INDEX**

 
| **Exhibit  No.** |   | **Exhibit**                                                                                             |
|------------------|--------|---------------------------------------------------------------------------------------------------------|
|             |   |                                                                                                    |
| 31.1             |   | Certification                                                                                           |
|             |   |                                                                                                    |
| 99.1             |   | Annual Servicer’s Certificate for the year ended  January 1, 2005, Series 2001-1 and Series 2002-1 |
|             |   |                                                                                                    |
| 99.2             |   | Annual Certificateholders’ Statement for the year  ended January 1, 2005, Series 2001-1            |
|             |   |                                                                                                    |
| 99.3             |   | Annual Certificateholders’ Statement for the year  ended January 1, 2005, Series 2002-1            |
|             |   |                                                                                                    |
| 99.4             |   | Report of Independent Accountants                                                                       |
|             |   |                                                                                                    |
| 99.5             |   | Report of Management on Compliance                                                                      |