| Delaware (State or other jurisdiction of incorporation ororganization of the issuing entity)                                                | 22-2013053 (I.R.S. Employer Identification No.) |
|---------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------|
|                                                                                                                                        |                                            |
| c/o BMW Financial Services NA, LLC300 Chestnut Ridge RoadWoodcliff Lake, NJ 07677(Address of principal executive offices of issuing entity) |  07677 (Zip Code)                          |

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| Large accelerated filer                       | ☐                 | Accelerated filer         | ☐ |
|-----------------------------------------------|-------------------------|---------------------------|---------|
| Non-accelerated filer                         | ☒                 | Smaller reporting company | ☐ |
| (do not check if a smaller reporting company) | Emerging growth company | ☐                   |

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| (a) | Item 1.  Business.          |
|-----|----------------------------------|
| (b) | Item 1A.  Risk Factors.     |
| (c) | Item 2.  Properties.        |
| (d) | Item 3.  Legal Proceedings. |

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| (a) | Item 5.  Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------|
| (b) | Item 6.  Selected Financial Data.                                                                                            |
| (c) | Item 7.  Management’s Discussion and Analysis of Financial Condition and Results of Operations.                        |
| (d) | Item 7A.  Quantitative and Qualitative Disclosures About Market Risk.                                                        |
| (e) | Item 8.  Financial Statements and Supplementary Data.                                                                        |
| (f) | Item 9.  Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.                               |
| (g) | Item 9A.  Controls and Procedures.                                                                                           |
| (a) | Item 10.  Directors, Executive Officers and Corporate Governance                                         |
|-----|---------------------------------------------------------------------------------------------------------------|
| (b) | Item 11.  Executive Compensation                                                                         |
| (c) | Item 12.  Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters |
| (d) | Item 13.  Certain Relationships and Related Transactions, and Director Independence                      |
| (e) | Item 14.  Principal Accountant Fees and Services                                                         |

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| Exhibit      |                                                                                                                                                                                                                                                                                                                                                                                                            |   |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Number  | Description                                                                                                                                                                                                                                                                                                                                                                                                     |   |
| 3.1          | Certificate of Formation of BMW Auto Leasing LLC (the “Depositor”), as currently in effect, incorporated by reference to Exhibit 3.1 to Amendment No. 2 to Registration Statement on Form S-1 (333-43128-01), filed with the SEC by the Depositor on October 31, 2000.                                                                                                                              |
| 3.2          | Amended and Restated Limited Liability Company Agreement of the Depositor, as amended and currently in effect, incorporated by reference to Exhibit 3.2 to the Form 8-K (File Number 333-43128-01) filed with the SEC by the Depositor on July 11, 2016.                                                                                                                                                        |
| 3.3          | Agreement of Limited Partnership of BMW Manufacturing L.P. (“BMW LP”), dated as of February 12, 1996, between BMW Facility Partners, Inc. and BMW Financial Services NA, LLC (“BMW FS”), incorporated by reference to Exhibit 3.3 to Amendment No. 2 to Registration Statement on Form S-1 (333-43128-01), filed with the SEC by the Depositor on October 31, 2000. |
| 4.1          | Indenture, dated as of March 22, 2017, between BMW Vehicle Lease Trust 2017-1 (the “Issuing Entity”) and U.S. Bank National Association, as indenture trustee (the “Indenture Trustee”), incorporated by reference to Exhibit 4.1 to the Form 8-K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                          |
| 10.1         | Trust Agreement, amended and restated as of September 27, 1996, by and between BMW LP and BNY Mellon Trust of Delaware, formerly known as The Bank of New York (Delaware), as trustee, incorporated by reference to Exhibit 10.1 to Amendment No. 2 to Registration Statement on Form S-1 (333-43128-01), filed with the SEC by the Depositor on October 31, 2000.                                              |
| 10.2         | Vehicle Trust Supplement, dated as of March 22, 2017, between BMW LP, as grantor and UTI Beneficiary, and BNY Mellon Trust of Delaware, formerly known as The Bank of New York (Delaware), as vehicle trustee, incorporated by reference to Exhibit 10.2 to the Form 8-K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                                |
| 10.3         | Servicing Agreement, dated as of August 30, 1995 (the “Basic Servicing Agreement”), between Financial Services Vehicle Trust (“FSVT”) and BMW FS, incorporated by reference to Exhibit 10.3 to Amendment No. 2 to Registration Statement on Form S-1 (333-43128-01), filed with the SEC by the Depositor on October 31, 2000.                                                           |
| 10.4         | 2017-1 SUBI Servicing Supplement, dated as of March 22, 2017, among BMW FS, as servicer, FSVT, as vehicle trust, and BMW LP, as UTI Beneficiary, incorporated by reference to Exhibit 10.4 to the Form 8-K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017, to the Basic Servicing Agreement.                                                                            |
| 10.5         | SUBI Certificate Transfer Agreement, dated as of March 22, 2017, between BMW LP, as transferor, and the Depositor, as transferee, incorporated by reference to Exhibit 10.5 to the Form 8-K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                                                                                                             |
| 10.6         | Issuer SUBI Certificate Transfer Agreement, dated as of March 22, 2017, between the Depositor, as transferor, and the Issuing Entity, as transferee, incorporated by reference to Exhibit 10.6 to the Form 8-K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                                                                                          |
| 10.7         | Amended and Restated Trust Agreement, dated as of March 22, 2017, between the Depositor and Wilmington Trust, National Association, as owner trustee, incorporated by reference to Exhibit 10.7 to the Form 8-K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                                                                                         |
| 10.8         | Issuer Administration Agreement, dated as of March 22, 2017, among BMW FS, as administrator, the Issuing Entity, the Depositor, as transferor, and the Indenture Trustee, incorporated by reference to Exhibit 10.8 to the Form 8-K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                                                                     |
| 10.9         | Back-Up Security Agreement, dated as of March 22, 2017, among FSVT, BMW LP, the Depositor, the Issuing Entity and the Indenture Trustee, incorporated by reference to Exhibit 10.9 to the Form 8‐K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                                                                                           |
| 10.10        | Asset Representations Review Agreement, dated as of March 22, 2017, among BMW FS, the Issuing Entity and Clayton Fixed Income Services, LLC, as asset representations reviewer, incorporated by reference to Exhibit 10.10 to the Form 8‐K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                                                   |
| 10.11        | Control Agreement, dated as of March 22, 2017, among the Depositor, as transferor, the Issuing Entity, as initial-secured party, and U.S. Bank National Association, as Indenture Trustee and as assignee-secured party, incorporated by reference to Exhibit 10.11 to the Form 8-K (File Number 333-205553-04) filed with the SEC by the Issuing Entity on March 22, 2017.                                     |
| 31.1*        | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                        |
| 33.1*        | Certification Regarding Compliance with Applicable Servicing Criteria for BMW FS.                                                                                                                                                                                                                                                                                                                               |
| 33.2*        | Management’s Assertion − Report on Assessment of Compliance with Applicable Servicing Criteria for U.S. Bank National Association.                                                                                                                                                                                                                                                                  |

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| 34.1* | Report of Independent Registered Public Accounting Firm of CohnReznick LLP, relating to BMW FS.                                |
|-------|--------------------------------------------------------------------------------------------------------------------------------|
| 34.2* | Report of Independent Registered Public Accounting Firm of Ernst & Young, LLP, relating to U.S. Bank National Association. |
| 35.1* | Servicer Compliance Statement of BMW FS.                                                                                       |

| * | Filed herewith. |
|---|-----------------|

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|   | BMW VEHICLE LEASE TRUST 2017-1 |
|--------|--------------------------------|
|   | (Issuing Entity)               |
|   |                           |
|   | By:             | BMW FINANCIAL SERVICES NA, LLC, |
|   |                           | as servicer |
|   |                           |
|   | By:                            | /s/ Ritu Chandy                                                |
|   |                           | Name:   | Ritu Chandy |
|   |                           | Title: | Vice President – Finance & CFO |
|   |                           |   | (Senior officer in charge of the servicing function of BMW Financial Services NA, LLC) |

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