| ☒ | 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 February 15, 2023, between BMW Vehicle Lease Trust 2023-1 (the “Issuing                  Entity”) and U.S. Bank Trust Company, 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 February                  15, 2023.                      |
| 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 February 15, 2023, 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                  February 15, 2023.                                      |
| 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           | 2023-1 SUBI Servicing Supplement, dated as of February 15, 2023, 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 February 15, 2023, to the Basic Servicing Agreement.                                                                                   |
| 10.5           | SUBI Certificate Transfer Agreement, dated as of February 15, 2023, 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 February 15, 2023.                                                                                                                                    |
| 10.6           | Issuer SUBI Certificate Transfer Agreement, dated as of February 15, 2023, 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 February 15, 2023.                                                                                                                 |
| 10.7           | Amended and Restated Trust Agreement, dated as of February 15, 2023, 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 February 15, 2023.                                                                                                                |

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| 10.8  | Issuer Administration Agreement, dated as of February 15, 2023, 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 Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on February 15, 2023.                                                                  |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.9  | Back-Up Security Agreement, dated as of February 15, 2023, 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 February 15, 2023.                                                                                             |
| 10.10 | Asset Representations Review Agreement, dated as of February 15, 2023, 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 February 15, 2023.                                                     |
| 10.11 | Control Agreement, dated as of February 15, 2023, 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 February 15, 2023. |
| 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 Trust Company, 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 Trust Company, National Association.                                                                                                                                                                                                                                                   |
| 35.1* | Servicer Compliance Statement of BMW FS.                                                                                                                                                                                                                                                                                                                                                                        |

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|           | BMW VEHICLE LEASE TRUST 2023-1 |
|----------------|--------------------------------|
|           | (Issuing Entity)               |
|           |                           |   |
|           | By:                            | BMW FINANCIAL SERVICES NA, LLC, |
|           |                           | as servicer |
|           |                           |   |
| March 26, 2024 | By:                  | /s/ Ole Jensen                            |
|           |                           | Name:  Ole Jensen |
|           |                           | Title:    Vice President – Finance & Chief Financial Officer |

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