| ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---------|--------------------------------------------------------------------------------------|
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---------|------------------------------------------------------------------------------------------|
| Delaware(State or other jurisdiction ofincorporation or organization of issuing entity)                                               | 22-2013053(I.R.S. EmployerIdentification No.) |
|---------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------|
|                                                                                                                                  |                                          |
| c/o BMW Financial Services NA, LLC300 Chestnut Ridge RoadWoodcliff Lake, NJ(Address of principal executive offices of issuing entity) |  07677-7739(Zip Code)                    |
|  Title of each class |  Trading Symbol(s) |  Name of each exchange on which registered |
|---------------------------|-------------------------|-------------------------------------------------|
| Not applicable            | Not applicable          | Not applicable                                  |

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

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

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

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

| 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 (File Number 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 Registration Statement on Form SF-3 (File Number 333-227645) filed with the SEC by the Depositor on October 1, 2018.                                                                                                                                        |
| 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 (File Number 333-43128-01), filed with the SEC by                the Depositor on October 31, 2000. |
| 4.1            | Indenture, dated as of March 10, 2021, between BMW Vehicle Lease Trust 2021-1 (the “Issuing Entity”) and                U.S. Bank National Association, as indenture trustee (the “Indenture Trustee”), incorporated by reference to Exhibit 4.1 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on March 10, 2021.                                                          |
| 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 (File Number 333-43128-01), filed with the SEC                by the Depositor on October 31, 2000.                          |
| 10.2           | Vehicle Trust Supplement, dated as of March 10, 2021, 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 Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on March 10, 2021.                                                           |
| 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 (File Number 333-43128-01), filed with the SEC by the Depositor on October 31, 2000.                                                      |
| 10.4           | 2021-1 SUBI Servicing                Supplement, dated as of March 10, 2021, among BMW FS, as servicer, FSVT, as vehicle trust, and BMW LP, as UTI Beneficiary, incorporated by reference to Exhibit 10.4 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity                on March 10, 2021, to the Basic Servicing Agreement.                                                                   |
| 10.5           | SUBI Certificate Transfer Agreement, dated as of March 10, 2021, between BMW LP, as transferor, and the                Depositor, as transferee, incorporated by reference to Exhibit 10.5 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on March 10, 2021.                                                                                                                                        |
| 10.6           | Issuer SUBI Certificate Transfer Agreement, dated as of March 10, 2021, between the Depositor, as                transferor, and the Issuing Entity, as transferee, incorporated by reference to Exhibit 10.6 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on March 10, 2021.                                                                                                                     |
| 10.7           | Amended and Restated Trust Agreement, dated as of March 10, 2021, between the Depositor and Wilmington                Trust, National Association, as owner trustee, incorporated by reference to Exhibit 10.7 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on March 10, 2021.                                                                                                                    |
| 10.8 | Issuer Administration Agreement, dated as of March 10, 2021, among BMW FS, as                administrator, |
|------|-------------------------------------------------------------------------------------------------------------|

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|   | the Issuing Entity, the Depositor, as                          transferor, and the Indenture Trustee, incorporated by reference to Exhibit 10.8 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on March 10, 2021.                                                                                                                                                   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.9   | Back-Up Security Agreement, dated as of March 10, 2021, among FSVT, BMW LP, the Depositor, the Issuing                Entity and the Indenture Trustee, incorporated by reference to Exhibit 10.9 to the Issuing Entity’s Form 8‐K, filed with the SEC by the Issuing Entity on March 10, 2021.                                                                                           |
| 10.10  | Asset Representations Review Agreement, dated as of March 10, 2021, 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 Issuing Entity’s Form 8‐K, filed with the SEC by the Issuing Entity on March 10, 2021.                                                   |
| 10.11  | Control Agreement, dated as of March 10, 2021, 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 Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on March                10, 2021. |
| 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.                                                                                                                                                                                                                                         |
| 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.                                                                                                                                                                                                                                                                                                                                                              |

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|           | BMW VEHICLE LEASE TRUST 2021-1 |
|----------------|--------------------------------|
|           | (Issuing Entity)               |
|           |                           |   |
|           | By:                            | BMW FINANCIAL SERVICES NA, LLC, |
|           |                           | as servicer |
|           |                           |   |
| March 28, 2023 | By:                  | /s/ Ole Jensen |
|           |                           | Name:  Ole Jensen |
|           |                           | Title:    Vice President – Finance & Chief Financial Officer |

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