UNITED
STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549



FORM 10-K



|(Mark One) |  |                                                                                             
|---------- |  | --------------------------------------------------------------------------------------------
|☒          |  | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
    OF THE SECURITIES EXCHANGE ACT OF 1934    
|           |  | For the fiscal year ended:  December 31, 2021                                               
|OR        
|☐          |  | TRANSITION REPORT PURSUANT TO SECTION 13
    OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|           |  | For the transition period from _________ to _________                                       



Commission File Number of Issuing
Entity: 333-235304-01
Commission File Number of Depositor: 333-235304



|Daimler
    Trucks Retail Trust 2020-1                                                                                       
|-----------------------------------------------------------------------------------------------------------------------------
|(Exact name of Issuing Entity as
specified in its charter)
        Central Index Key number of the
Issuing Entity: 0001803020



|Daimler
    Retail Receivables LLC                                                                                 
|-------------------------------------------------------------------------------------------------------------------
|(Exact name of Depositor as specified
in its charter)
        Central Index Key number of the
Depositor: 0001463814



|Daimler Truck
     Financial Services USA LLC                                                                  
|---------------------------------------------------------------------------------------------------------------
|(Exact name of Sponsor as specified
in its charter)
        Central Index Key number of the
Sponsor: 0001892832



|State of Delaware                                                |  | 84-31614824                         
|---------------------------------------------------------------- |  | ------------------------------------
|(State or Other Jurisdiction of Incorporation of issuing entity) |  | (I.R.S. Employer Identification No.)
|                                                                 |  |                                     
|14372 Heritage Parkway, Suite 400 Fort Worth, Texas              |  | 76177                               
|(Address of Principal Executive Offices of issuing entity)       |  | (Zip Code)                          



|(248) 991-6222                                            
|----------------------------------------------------------
|(Telephone number, including area code, of issuing entity)



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 ☒ No

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 ☒ No

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.☒ Yes ☐ No

Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant
to Rule 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 such files).☒ Yes ☐ No

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

|Large accelerated filer☐ | Accelerated filer☐ | Non-accelerated filer☒ | Smaller reporting company☐
|------------------------ | ------------------ | ---------------------- | --------------------------
|                         |                    |                        |                           
|Emerging growth company☐ |                    |                        |                           











If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐



Indicate
by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered
public accounting firm that prepared or issued its audit report.☐



Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).☐ Yes ☒ No



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



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 the fiscal year ended December 24, 1980). None
















PART
I



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



Nothing to report.



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



Not applicable.



The following Items have been omitted in accordance
with General Instruction J(1) to Form 10-K:



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



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



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



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



PART
II



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



Nothing to report.



| | Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.
| | -------- | --------------------------------------------------------------------



Not Applicable











The following Items have been omitted in accordance
with General Instruction J(1) to Form 10-K:



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



| | Item 6. | [Reserved]
| | ------- | ----------



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



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



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



| | Item 9. | Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure.
| | ------- | -------------------------------------------------------------------------------------



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



PART
III



The following Items have been omitted in accordance
with General Instruction J(1) to Form 10-K:



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



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



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



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



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



PURSUANT TO GENERAL INSTRUCTION J(2) THE FOLLOWING
SUBSTITUTE INFORMATION IS BEING PROVIDED IN THIS REPORT ON FORM 10-K:



Item 1112(b) of Regulation AB. Significant Obligors
of Pool Assets – Financial Information.



Nothing to report.



Item 1114(b)(2) of Regulation AB. Credit Enhancement
and Other Support, Except for Certain Derivatives Instruments – Financial Information.



Nothing to report.



Item 1115(b) of Regulation AB. Certain Derivatives
Instruments – Financial Information.



Nothing to report.



Item 1117 of Regulation AB. Legal Proceedings.



There are no legal proceedings pending, or any proceedings known to be contemplated by
governmental authorities, against the Sponsor, the Depositor, U.S. Bank National Association (the "Indenture Trustee""), Wilmington Trust, National Association (the "Owner Trustee"),
the Servicer, the Issuing Entity, or any property thereof, that are material to holders of the Asset Backed Notes issued by the Issuing Entity (the "Notes").











The Indenture Trustee has provided the information
contained in the following five paragraphs for purposes of compliance with Regulation AB:



U.S. Bank National
Association (“U.S. Bank”) and other large financial institutions have been sued in their capacity as trustee or successor
trustee for certain residential mortgage backed securities ("RMBS") trusts. The complaints, primarily filed by investors
or investor groups against U.S. Bank and similar institutions, allege the trustees caused losses to investors as a result of alleged
failures by the sponsors, mortgage loan sellers and servicers to comply with the governing agreements for these RMBS trusts. Plaintiffs
generally assert causes of action based upon the trustees’ purported failures to enforce repurchase obligations of mortgage
loan sellers for alleged breaches of representations and warranties, notify securityholders of purported events of default allegedly
caused by breaches of servicing standards by mortgage loan servicers and abide by a heightened standard of care following alleged
events of default.



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,
that it has meritorious defenses, and it has contested and intends to continue contesting the plaintiffs’ claims vigorously.
However, U.S. Bank cannot assure you as to the outcome of any of the litigation, or the possible impact of these litigations on
the trustee or the RMBS trusts.



On March 9, 2018, a law firm purporting
to represent fifteen Delaware statutory trusts (the “DSTs”) that issued securities backed by student loans (the “Student
Loans”) filed a lawsuit in the Delaware Court of Chancery against U.S. Bank National Association (“U.S. Bank”)
in its capacities as indenture trustee and successor special servicer, and three other institutions in their respective transaction
capacities, with respect to the DSTs and the Student Loans. This lawsuit is captioned The National Collegiate Student Loan Master
Trust I, et al. v. U.S. Bank National Association, et al., C.A. No. 2018-0167-JRS (Del. Ch.) (the “NCMSLT Action”).
The complaint, as amended on June 15, 2018, alleged that the DSTs have been harmed as a result of purported misconduct or omissions
by the defendants concerning administration of the trusts and special servicing of the Student Loans. Since the filing of the NCMSLT
Action, certain Student Loan borrowers have made assertions against U.S. Bank concerning special servicing that appear to be based
on certain allegations made on behalf of the DSTs in the NCMSLT Action.



U.S. Bank has filed a motion seeking dismissal
of the operative complaint in its entirety with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6) or, in the alternative,
a stay of the case while other prior filed disputes involving the DSTs and the Student Loans are litigated. On November 7, 2018,
the Court ruled that the case should be stayed in its entirety pending resolution of the first-filed cases. On January 21, 2020,
the Court entered an order consolidating for pretrial purposes the NCMSLT Action and three other lawsuits pending in the Delaware
Court of Chancery concerning the DSTs and the Student Loans, which remains pending.



U.S. Bank denies liability in the NCMSLT Action and
believes it has performed its obligations as indenture trustee and special servicer in good faith and in compliance in all material
respects with the terms of the agreements governing the DSTs and that it has meritorious defenses. It has contested and intends
to continue contesting the plaintiffs’ claims vigorously.



Item 1119 of Regulation AB. Affiliations and Certain
Relationships and Related Transactions.



Mercedes-Benz Financial Services USA LLC ("MBFS")
acted as Sponsor of the issuance of the Notes and initially as Servicer of the Receivables and Administrator of the Issuing Entity.  Daimler
Retail Receivables LLC ("DRR"), which acted as Depositor and registrant in the issuance and offering of the Notes, is a wholly owned subsidiary
of MBFS.  At the time of the issuance of the Notes, the Daimler Trucks Retail Trust 2020-1 Certificates (the "Certificates"), which evidence the
undivided ownership interests in the Issuing Entity, were issued to DRR.



Effective December 1, 2021, Daimler Truck Financial
Services USA LLC ("DTFS") assumed the duties of Servicer and Administrator from MBFS.  Also
on December 1, 2021, Daimler Trucks Retail Receivables LLC ("DTRR"), a wholly owned subsidiary of DTFS, took assignment of the Certificates and
assumed ongoing depositor obligations from DRR.



The above described transactions occurred as part of the
global spin-off by Daimler AG of its commercial vehicle business along with the related
financial services activities.  DTFS was formed as part of the spin-off, and effective December 1, 2021, became the captive financial services
provider (including servicing and collections) for the Daimler Truck North America family of commercial vehicle products.  These businesses
(including the servicing of the Receivables held by the Issuing Entity) had been conducted by MBFS through its Daimler Truck Financial business
unit.  As part of the spin-off, DTFS acquired, and is the successor to, the Daimler Truck Financial business unit previously operated within MBFS.
DTFS is a wholly-owned indirect subsidiary of Daimler Truck Holding AG, a German company formed for the spin-off which, through its subsidiaries,
is one of the world's largest commercial vehicle manufacturers.  MBFS remains a wholly owned subsidiary of Daimler AG which has been renamed Mercedes-Benz AG.











Item 1122 of Regulation AB. Compliance with Applicable
Servicing Criteria.



Each of DTFS, in its capacity
as Servicer, MBFS, as predecessor Servicer, and the Indenture Trustee (each, a “Servicing Participant”)
has been identified by the registrant as a party participating in the servicing function during the reporting period with respect
to the pool assets held by the Issuing Entity. Each Servicing Participant has completed a report on an assessment of compliance
with the servicing criteria applicable to such Servicing Participant (each, a “Report on Assessment”) as of December 31,
2021 and for the reporting period, which Reports on Assessment are attached as Exhibits 33.1, 33.2 and 33.3 to this report on Form 10-K.
In addition, each Servicing Participant has provided an attestation report (each, an “Attestation Report”) by a registered
independent public accounting firm on its Report on Assessment. The Attestation Reports are attached as Exhibits 34.1,
34.2 and 34.3 to this report on Form 10-K. The respective Reports on Assessment prepared by the Servicer and by MBFS, as predecessor
Servicer, and the respective Attestation Reports provided by the Servicer and by MBFS, as predecessor Servicer, did not identify any material
instance of noncompliance with the servicing criteria applicable to the Servicer or MBFS as predecessor Servicer.  The Report on Assessment
prepared by the Indenture Trustee and the Attestation Report provided by the Indenture Trustee did not identify any material instance of noncompliance
with the servicing criteria applicable to the Indenture Trustee.



Item 1123 of Regulation AB. Servicing
Compliance Statement.



Each of DTFS, in its capacity as Servicer, and MBFS, as predecessor Servicer, has completed
a statement of compliance with its obligations under the applicable servicing agreement (a “Compliance Statement”) for the applicable reporting period signed by an authorized officer
of the Servicer and MBFS, as applicable.  The Compliance Statements are attached as Exhibits 35.1 and 35.2 to this report on Form 10-K.



PART
IV



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



| | (a) | The following documents are filed as part of this report
| | --- | --------------------------------------------------------



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



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



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



| | (b) | Exhibits Required by Item 601 of Regulation S-K
| | --- | -----------------------------------------------













|Exhibit
Number |  | Description                                                                                                                                                                                                                                                                                                                                                                                                                                             
|-------------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|1.1            |  | Underwriting Agreement, dated March 11, 2020, among Daimler Retail Receivables LLC, Mercedes-Benz Financial Services USA LLC and Citigroup Global Markets Inc., BNP Paribas Securities Corp., and SMBC Nikko Securities America, Inc., as representatives of the several underwriters named therein (included in Exhibit 1.1 to the Form 8-K of the Issuing Entity, as filed with the SEC on March 13, 2020, which is incorporated herein by reference).
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|3.1            |  | Articles of Organization of Daimler Retail Receivables LLC (included in Exhibit 3.1 to the Registration Statement on Form S-3, No. 333-159281, as filed with the SEC on May 15, 2009, which is incorporated herein by reference).                                                                                                                                                                                                                       
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|3.2            |  | Operating Agreement of Daimler Retail Receivables LLC (included in Exhibit 3.2 to the Registration Statement on Form S-3, No. 333-159281, as filed with the SEC on May 15, 2009, which is incorporated herein by reference).                                                                                                                                                                                                                            
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|4.1            |  | Indenture, dated as of March 1, 2020, between the Issuing Entity and U.S. Bank National Association, as indenture trustee (included in Exhibit 4.1 to the Form 8-K of the Issuing Entity, as filed with the SEC on March 19, 2020, which is incorporated herein by reference).                                                                                                                                                                          
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|4.2            |  | Amended and Restated Trust Agreement, dated as of March 1, 2020, between Daimler Trucks Retail Receivables LLC (as successor to Daimler Retail Receivables LLC), as depositor (the "Depositor"), and Wilmington Trust, National Association, as owner trustee (included in Exhibit 4.2 to the Form 8-K of the Issuing Entity, as filed with the SEC on March 19, 2020, which is incorporated herein by reference).                                      
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|10.1           |  | Sale and Servicing Agreement, dated as of March 1, 2020, among the Issuing Entity, the Depositor, Mercedes-Benz Financial Services USA LLC, as seller, and Daimler Truck Financial Services USA LLC (as successor to Mercedes-Benz Financial Services USA LLC) as servicer (the "Servicer") (included in Exhibit 10.1 to the Form 8 K of the Issuing Entity, as filed with the SEC on March 19, 2020, which is incorporated herein by reference).       
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|10.2           |  | Administration Agreement, dated as of March 1, 2020, among the Issuing Entity, the Depositor, Daimler Truck Financial Services USA LLC (as successor to Mercedes-Benz Financial Services USA LLC) as administrator (the "Administrator"), and U.S. Bank National Association, as indenture trustee (included in Exhibit 10.2 to the Form 8 K of the Issuing Entity, as filed with the SEC on March 19, 2020, which is incorporated herein by reference).











|ExhibitNumber |  | Description                                                                                                                                                                                                                                                                                                                                                 
|------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|10.3          |  | Receivables Purchase Agreement, dated as of March 1, 2020, between Mercedes-Benz Financial Services USA LLC, as seller, and Daimler Retail Receivables LLC, as purchaser (included in Exhibit 10.3 to the Form 8-K of the Issuing Entity, as filed with the SEC on March 19, 2020, which is incorporated herein by reference).                              
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|10.4          |  | Asset Representations Review Agreement, dated as of March 1, 2020, among the Issuing Entity, the Administrator, the Servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer (included in Exhibit 10.4 to the Form 8-K of the Issuing Entity, as filed with the SEC on March 19, 2020, which is incorporated herein by reference).
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|31.1          |  | Certification of Daimler Truck Financial Services USA LLC, as Servicer, pursuant toRule 13a-14(d)/15d-14(d) (Section 302 Certification).                                                                                                                                                                                                                    
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|33.1          |  | Report on Assessment of Compliance with Servicing Criteria for Daimler Truck Financial Services USA LLC, as Servicer.                                                                                                                                                                                                                                       
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|33.2          |  | Report on Assessment of Compliance with Servicing Criteria for Mercedes-Benz Financial Services USA LLC, as Servicer.                                                                                                                                                                                                                                       
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|33.3          |  | Report on Assessment of Compliance with Servicing Criteria for U.S. Bank National Association, as Indenture Trustee.                                                                                                                                                                                                                                        
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|34.1          |  | Attestation Report of Grant Thornton LLP on Assessment of Compliance with Servicing Criteria relating to Daimler Truck Financial Services USA LLC, as Servicer.                                                                                                                                                                                             
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|34.2          |  | Attestation Report of Grant Thornton LLP on Assessment of Compliance with Servicing Criteria relating to Mercedes-Benz Financial Services USA LLC, as Servicer.                                                                                                                                                                                             
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|34.3          |  | Attestation Report of Ernst & Young LLP on Assessment of Compliance with Servicing Criteria relating to U.S. Bank National Association, as Indenture Trustee.                                                                                                                                                                                               
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|35.1          |  | Servicer Compliance Statement of Daimler Truck Financial Services USA LLC, as Servicer.                                                                                                                                                                                                                                                                     
|              |  |                                                                                                                                                                                                                                                                                                                                                             
|35.2          |  | Servicer Compliance Statement of Mercedes-Benz Financial Services USA LLC, as Servicer.                                                                                                                                                                                                                                                                     
|              |  |                                                                                                                                                                                                                                                                                                                                                             



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



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 to security holders, proxy statement, form
of proxy or other proxy soliciting material has been sent to any security holders or is presently anticipated to be furnished to
security holders subsequent to the filing of this annual report on Form 10-K.











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.



| | Daimler
Trucks Retail Trust 2020-1
(Issuing Entity)
| | ---------------------------------------------------
| |                                                    
| | By:                                                
| |                                                    
| | By:                                                
| | Name:
Title:                                       



Dated: March 17, 2022