☒
            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 of
            incorporation or organization of issuing entity)
          38-7113073
            (I.R.S. Employer
            Identification No. of issuing entity)6565 Headquarters Drive, W2-3D
            Plano, Texas
            (Address of principal executive offices of issuing entity)
          75024-5965
            (Zip Code)       ☐Yes   ☒ No
  ☐Yes    ☒ No
  ☒Yes ☐No
  No
  
   Large accelerated filer
          ☐
          
          Accelerated filer
          ☐Non-accelerated filer
          ☒
          
          Smaller reporting company
          ☐Emerging growth company
          ☐ 
 
  
  ☐Yes  ☒ No
         
 
 The following Items have been omitted in accordance with General Instruction J to Form 10-K:
  Item 1. Business.
 Item 1A. Risk Factors.
 Item 2. Properties.
 Item 3. Legal Proceedings.
  Item 1B. Unresolved Staff Comments.
  None.
  Item 4. Mine Safety Disclosures.
  Not applicable.
  The following substitute information is provided in accordance with General Instruction J to Form 10-K:
  Item 1112(b) of Regulation AB.  Significant Obligors of Pool Assets.
  No single obligor represents 10% or more of the asset pool owned by Toyota Auto Receivables 2016-B Owner Trust (the “Trust”).
  Item 1114(b)(2) of Regulation AB.  Credit Enhancement and Other Support,
            Except for Certain Derivatives Instruments.
  No entity or group of affiliated entities provides any external credit enhancement or other support with respect to either payment on
          the pool assets owned by the Trust or payments on the notes (the “Notes”) or the certificate (the “Certificate”) issued by the Trust.
  Item 1115(b) of Regulation AB.  Certain Derivatives Instruments.
  No entity or group of affiliated entities provides any external derivative instruments to either payment on the pool assets owned by
          the Trust or payments on the Notes or the Certificate.
  Item 1117 of Regulation AB.  Legal Proceedings.
  As previously disclosed by Toyota Motor Credit Corporation (“TMCC”), TMCC has received a request for documents and information from the
          New York State Department of Financial Services relating to its lending practices (including fair lending), and a request for documents and information pursuant to a civil investigative demand from the Commonwealth of Massachusetts Office of the
          Attorney General relating to TMCC’s financing of guaranteed auto protection (GAP) insurance products on retail contracts.  TMCC provided the requested documents and information, but has not had further communication with either agency regarding
          their respective reviews.
  The following six paragraphs are disclosures received from Deutsche Bank Trust Company Americas (“DBTCA”), which serves as the
          indenture trustee under the indenture for the Toyota Auto Receivables 2016-B Owner Trust transaction.
 
 DBTCA and Deutsche Bank National Trust Company (“DBNTC”) have been sued by investors in civil litigation concerning their role as
          trustees of certain residential mortgage-backed securities (“RMBS”) trusts.
  On June 18, 2014, a group of investors, including funds managed by Blackrock Advisors, LLC, PIMCO-Advisors, L.P., and others, filed an
          action against DBNTC and DBTCA in New York State Supreme Court alleging that DBNTC and DBTCA failed to perform purported duties, as trustees for 544 private-label RMBS trusts, to enforce breaches of representations and warranties as to mortgage
          loans held by the trusts and to enforce breaches by servicers of their mortgage loan servicing obligations for the trusts.  During the course of the litigation, plaintiffs dismissed the case from New York State Supreme Court and refiled two
          separate cases, one in the U.S. District Court for the Southern District of New York (the “BlackRockSDNY Case”) and the other in the Superior Court of
          California, Orange County (the “BlackRockCalifornia Case”).  Pursuant to a settlement among the parties, the BlackRockSDNY Case was dismissed on December 6, 2018 and the BlackRockCalifornia Case was dismissed on
          January 11, 2019.
  On September 27, 2017, DBTCA was added as a defendant to a case brought by certain special purpose entities including Phoenix Light SF
          Limited in the U.S. District Court for the Southern District of New York, in which plaintiffs previously alleged incorrectly that DBNTC served as trustee for all 43 of the trusts at issue.  On September 27, 2017, plaintiffs filed a third amended
          complaint that names DBTCA as a defendant in addition to DBNTC.  DBTCA serves as trustee for one of the 43 trusts at issue.  DBNTC serves as trustee for the other 42 trusts at issue.  Plaintiffs’ third amended complaint brings claims for
          violation of the U.S. Trust Indenture Act of 1939 (the “TIA”); breach of contract; breach of fiduciary duty; negligence and gross negligence; violation of the New York Streit Act; and breach of the covenant of good faith.
 
 
 
 However, in the third amended complaint, plaintiffs acknowledge that, before DBTCA was added to the case, the court dismissed
          plaintiffs’ TIA Act claims, negligence and gross negligence claims, Streit Act claims, claims for breach of the covenant of good faith, and certain theories of plaintiffs’ breach of contract claims, and plaintiffs only include these claims to
          preserve any rights on appeal.  Plaintiffs allege damages of “hundreds of millions of dollars.”  On November 13, 2017, DBNTC and DBTCA filed an answer to the third amended complaint.  On December 7, 2018, DBNTC and DBTCA filed a motion for
          summary judgment.  Also on December 7, 2018, plaintiffs, jointly with Commerzbank AG (see description of Commerzbank case below), filed a motion for partial summary judgment.  Both motions are being briefed by the parties.  Discovery is ongoing.
  On November 30, 2017, DBTCA was added as a defendant to a case brought by Commerzbank AG (“Commerzbank”) in the U.S. District Court for
          the Southern District of New York, in which Commerzbank previously alleged incorrectly that DBNTC served as trustee for all 50 of the trusts at issue.  On November 30, 2017, Commerzbank filed a second amended complaint that names DBTCA as a
          defendant in addition to DBNTC.  DBTCA serves as trustee for 1 of the 50 trusts at issue.  DBNTC serves as trustee for the other 49 trusts at issue.  Commerzbank’s second amended complaint brings claims for violation of the TIA; breach of
          contract; breach of fiduciary duty; negligence; violation of the Streit Act; and breach of the covenant of good faith.  However, in the second amended complaint, Commerzbank acknowledges that, before DBTCA was added to the case, the court
          dismissed Commerzbank’s TIA claims for the trusts governed by pooling and servicing agreements, as well as its Streit Act claims and claims for breach of the covenant of good faith, and Commerzbank only includes these claims to preserve any
          rights on appeal.  The second amended complaint alleges that DBNTC and DBTCA caused Commerzbank to suffer “hundreds of millions of dollars in losses,” but the complaint does not include a demand for money damages in a sum certain.  On January 29,
          2018, DBNTC and DBTCA filed an answer to the second amended complaint.  On December 7, 2018, DBNTC and DBTCA filed a motion for summary judgment.  Also on December 7, 2018, Commerzbank, jointly with the Phoenix Lightplaintiffs, filed a motion for partial summary judgment.  Both motions are being briefed by the parties.  Discovery is ongoing.
  On December 30, 2015, IKB International, S.A. in Liquidation and IKB Deutsche Industriebank A.G. (collectively, “IKB”), as an investor
          in 37 RMBS trusts, filed a summons with notice in the Supreme Court of the State of New York, New York County, against DBNTC and DBTCA as trustees of the trusts.  On May 27, 2016, IKB served its complaint asserting claims for breach of contract,
          breach of fiduciary duty, breach of duty to avoid conflicts of interest, violation of the Streit Act, violation of the TIA, violation of Regulation AB, and violation of Article 9 of the Uniform Commercial Code.  IKB alleges that DBNTC and DBTCA
          are liable for over U.S. $268 million in damages.  On October 5, 2016, DBNTC and DBTCA, together with several other trustees defending lawsuits by IKB, filed a joint motion to dismiss.  On January 6, 2017, IKB filed a notice of discontinuance,
          voluntarily dismissing with prejudice all claims as to three trusts.  As of January 17, 2017, DBNTC and DBTCA’s motion to dismiss has been briefed and is awaiting decision by the court.  On June 20, 2017, the parties filed a stipulation,
          voluntarily dismissing with prejudice all claims as to four additional trusts.  Certain limited discovery is permitted to go forward while the motion to dismiss is pending.
  It is DBTCA’s belief that it has no pending legal proceedings (including, based on DBTCA’s present evaluation, the litigation disclosed
          in the five immediately preceding paragraphs) that would materially affect its ability to perform its duties as indenture trustee under the indenture for the Toyota Auto Receivables 2016-B Owner Trust transaction.
  
 
 PART II
  The following Items have been omitted in accordance with General Instruction J to Form 10-K:
  Item 5. Market for Registrant’s Common Equity, Related
          Stockholder Matters and Issuer Purchases of Equity Securities.
 Item 6. Selected Financial Data.
 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.
  Item 9B. Other Information.
  Nothing to report.
 
 
 
 PART III
  The following Items have been omitted in accordance with General Instruction J 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 Accounting Fees and Services.
 The following substitute information is provided in accordance with General Instruction J to Form 10-K:
  Item 1119 of Regulation AB.  Affiliations and Certain Relationships and Related Transactions.
  Information required by Item 1119 of Regulation AB has been omitted from this report on Form 10-K in reliance on the Instruction to
          Item 1119.
  Item 1122 of Regulation AB.  Compliance with Applicable Servicing Criteria.
  Each of TMCC and Deutsche Bank Trust Company Americas(each,







          a “Servicing Participant”) has been identified by the registrant as a party participating in the servicing function during the year ended December 31, 2018 (the “2018 Reporting Period”) with respect to the pool assets owned by the Trust.  Each of
          the Servicing Participants 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, 2018, and for the 2018 Reporting Period.  In
          addition, each of the Servicing Participants has provided an attestation report (each, an “Attestation Report”) by a registered public accounting firm regarding its Report on Assessment.  Each Report on Assessment and Attestation Report is
          attached as an exhibit to this Form 10-K.
  Neither the Report on Assessment nor the Attestation Report for TMCC has identified any material instance of noncompliance with the
          servicing criteria described in such Report on Assessment as being applicable to TMCC.
  Neither the Report on Assessment nor the Attestation Report for Deutsche Bank Trust Company Americas has identified any material
          instance of noncompliance with the servicing criteria described in such Report on Assessment as being applicable to Deutsche Bank Trust Company Americas.
  Item 1123 of Regulation AB.  Servicer Compliance Statement.
  TMCC has been identified by the registrant as a servicer during the 2018 Reporting Period with respect to the pool assets owned by the
          Trust.  TMCC has provided a statement of compliance for the 2018 Reporting Period, signed by an authorized officer, and such compliance statement is attached as an exhibit to this 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.
  
  (b) Exhibits Required by Item 601 of Regulation S-K.
 Exhibit Number
              Description3.1
              Certificate
                      of Formation of Toyota Auto Finance Receivables LLC (“TAFR LLC”) (included in Exhibit 3.1 to Amendment No. 1 to Registration Statement on Form S-3 (333-159170), as filed by the registrant with the Commission on May 28, 2009, which is
                      incorporated herein by reference).3.2
              Limited
                      Liability Company Agreement of TAFR LLC (included in Exhibit 3.2 to Amendment No. 1 to Registration Statement on Form S-3 (333-159170), as filed by the registrant with the Commission on May 28, 2009, which is incorporated herein by
                      reference).4.1
              Amended
                      and Restated Trust Agreement, dated as of May 11, 2016, between TAFR LLC and Wells Fargo Delaware Trust Company, National Association, as owner trustee (included in Exhibit 4.1 to the Trust’s Form 8-K, as filed with the Commission on
                      May 11, 2016, which is incorporated herein by reference).4.2
              Indenture,




                      dated as of May 11, 2016, between the Trust and Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture Trustee”) and securities intermediary (included in Exhibit 4.2 to the Trust’s Form 8-K, as filed with the
                      Commission on May 11, 2016, which is incorporated herein by reference).4.3
              Sale
                      and Servicing Agreement, dated as of May 11, 2016, among TAFR LLC, as seller, TMCC, as servicer and sponsor, and the Trust, as issuer (included in Exhibit 4.3 to the Trust’s Form 8-K, as filed with the Commission on May 11, 2016,
                      which is incorporated herein by reference).4.4
              Receivables




                      Purchase Agreement, dated as of May 11, 2016, between TAFR LLC, as purchaser, and TMCC, as seller (included in Exhibit 4.4 to the Trust’s Form 8-K, as filed with the Commission on May 11, 2016, which is incorporated herein by
                      reference).4.5
              Administration




                      Agreement, dated as of May 11, 2016, among TMCC, as administrator, the Trust, as issuer, and the Indenture Trustee (included in Exhibit 4.5 to the Trust’s Form 8-K, as filed with the Commission on May 11, 2016, which is incorporated
                      herein by reference).4.6
              Securities




                      Account Control Agreement, dated as of May 11, 2016, between TAFR LLC, as pledgor, and the Indenture Trustee, as secured party (included in Exhibit 4.6 to the Trust’s Form 8-K, as filed with the Commission on May 11, 2016, which is
                      incorporated herein by reference).4.7
              Asset
                      Representations Review Agreement, dated as of May 11, 2016, among the Trust, as issuer, TMCC, as servicer and administrator, and Clayton Fixed Income Services LLC, as asset representations reviewer (included in Exhibit 4.7 to the
                      Trust’s Form 8-K, as filed with the Commission on May 11, 2016, which is incorporated herein by reference).31.1*
              Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated March 21, 2019.33.1*
              Report on Assessment of Compliance with Servicing Criteria for Toyota Motor Credit Corporation, dated March 21, 2019.33.2*
              Report on Assessment of Compliance with Servicing Criteria for Deutsche Bank National Trust Company and Deutsche Bank Trust Company Americas, dated February 28, 2019.34.1*
              Report of Independent Registered Public Accounting Firm of PricewaterhouseCoopers LLP on Assessment of Compliance with Servicing Criteria relating to Toyota Motor Credit Corporation, dated March 21, 2019.34.2*
              Report of Independent Registered Public Accounting Firm of KPMG LLP on Assessment of Compliance with Servicing Criteria relating to Deutsche Bank National Trust Company and Deutsche Bank Trust Company Americas, dated February
                      28, 2019.35.1*
              Servicer Compliance Statement, dated March 21, 2019, of Toyota Motor Credit Corporation.
 _____________
 * Filed herewith
 
 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.
 
 
  
 Date:  March 21, 2019
              Toyota Auto Finance Receivables LLC
                (Depositor)
                
                
                By:  /s/ Cindy Wang
                  Cindy Wang
                  President, Chief Executive Officer & Chief Financial Officer
                  (Senior officer in charge of securitization of the depositor)
 
 
 
 
 
 
 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 security
          holders or is anticipated to be furnished to security holders subsequent to the filing of this annual report on Form 10-K.