UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549



FORM 10-K



(Mark One)

x
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934



For the fiscal year ended December 31, 2016



 ̈ TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



Commission File Number of issuing entity: 333-183014-05



Central Index Key Number of issuing entity: 0001622764



WORLD OMNI AUTO RECEIVABLES TRUST 2014-B

(Exact name of issuing entity as specified
in its charter)



Central Index Key Number of depositor: 0001083199



WORLD OMNI AUTO RECEIVABLES LLC

(Exact name of depositor as specified in
its charter)



Central Index Key Number of sponsor: 0001004150



WORLD OMNI FINANCIAL CORP.

(Exact name of sponsor as specified in its
charter)










Delaware

(State or other jurisdiction of incorporation
or organization)



52-2184798

(I.R.S. Employer Identification No.)



190 Jim Moran Boulevard

Deerfield Beach, FL 33442

(Address of principal executive offices)



Registrant's telephone number, including
area code: (954) 429-2200



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 ̈       Nox



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 ̈       Nox



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.

Yesx       No ̈



Indicate by check
mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File
required to be submitted and posted pursuant to Item 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 and post such files).

Yes ̈       No ̈



Indicate by check
mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated
by reference in Part III of this Form 10-K or any amendment to this Form 10-K.

x



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





| | Large accelerated filer                       |  ̈ | Accelerated filer ̈        
| | --------------------------------------------- | - | --------------------------
| |                                               |   |                           
| | Non-accelerated filer                         | x | Smaller reporting company ̈
| | (Do not check if a smaller reporting company) |   |                           



Indicate by check
mark whether the registrant is a shell company (as defined in Rule 12b−2 of the Act).

Yes ̈Nox



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.



Indicate the number
of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.

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 fiscal year ended December 24, 1980).

None











World Omni Auto Receivables Trust 2014-B



PART I



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

Not Applicable.



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

Not Applicable.



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

Not Applicable.



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

Not Applicable.



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

Not Applicable.



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

Not Applicable.



Substitute Information Provided in Accordance with General
Instruction J to Form 10-K:



ITEM 1112(B) OF REGULATION AB. SIGNIFICANT OBLIGORS OF POOL
ASSETS (FINANCIAL INFORMATION).



No single obligor represents 10% or more
of the pool assets held by World Omni Auto Receivables Trust 2014-B (the "Trust").



ITEM 1114(B)(2) OF REGULATION AB. CREDIT ENHANCEMENT AND OTHER
SUPPORT, EXCEPT FOR CERTAIN DERIVATIVES INSTRUMENTS (INFORMATION REGARDING SIGNIFICANT ENHANCEMENT PROVIDERS).



No entity or group of affiliated entities
provides any external credit enhancement or other support with respect to either payment on the pool assets held by the Trust or
payments on the notes (the "Notes") or certificates (the "Certificates") issued by the Trust.



ITEM 1115(B) OF REGULATION AB. CERTAIN DERIVATIVE INSTRUMENTS
(FINANCIAL INFORMATION).



Based on the standards set forth in Item
1115(b) of Regulation AB, no information is required in response to this item.



ITEM 1117 OF REGULATION AB. LEGAL PROCEEDINGS.



The following events have been brought
to our attention by U.S. Bank National Association, in its capacity as indenture trustee:



Since 2014 various
plaintiffs or groups of plaintiffs, primarily investors, have filed claims against U.S. Bank National Association ("U.S. Bank"),
in its capacity as trustee or successor trustee (as the case may be) under certain residential mortgage backed securities ("RMBS")
trusts. The plaintiffs or plaintiff groups have filed substantially similar complaints against other RMBS trustees, including Deutsche
Bank, Citibank, HSBC, Bank of New York Mellon and Wells Fargo. The complaints against U.S. Bank allege the trustee caused losses
to investors as a result of alleged failures by the sponsors, mortgage loan sellers and servicers for these RMBS trusts and assert
causes of action based upon the trustee's purported failure to enforce repurchase obligations of mortgage loan sellers for alleged
breaches of representations and warranties concerning loan quality. The complaints also assert that the trustee failed to notify
securityholders of purported events of default allegedly caused by breaches of servicing standards by mortgage loan servicers and
that the trustee purportedly failed to abide by a heightened standard of care following alleged events of default.











Currently U.S. Bank
is a defendant in multiple actions alleging individual or class action claims against the trustee with respect to multiple trusts
as described above with the most substantial case being: BlackRock Balanced Capital Portfolio et al v. U.S. Bank National Association,No. 605204/2015 (N.Y. Sup. Ct.) (class action alleging claims with respect to approximately 794 trusts) and its companion case
BlackRock Core Bond Portfolio et al v. U.S Bank National Association, No. 14-cv-9401 (S.D.N.Y.). Some of the trusts implicated
in the aforementioned Blackrock cases, as well as other trusts, are involved in actions brought by separate groups of plaintiffs
related to no more than 100 trusts per case.



There can be no assurance
as to the outcome of any of the litigation, or the possible impact of these litigations on the trustee or the RMBS trusts. However,
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 and that it has meritorious defenses, and it intends to contest the plaintiffs' claims
vigorously.



The
following events have been brought to our attention by The Bank of New York Mellon, in its capacity as owner trustee:



In the ordinary course
of business, BNY Mellon Trust of Delaware and its affiliates, including The Bank of New York Mellon are named as a defendant in
or made a party to pending and potential legal actions. In connection with its role as trustee of certain residential mortgage-backed
securities (“RMBS”) transactions, the Bank of New York Mellon was named as a defendant in a lawsuit brought by a group
of institutional investors. This lawsuit alleges that the trustee had expansive duties under the governing agreements, including
the duty to investigate and pursue breach of representation and warranty claims against other parties to the RMBS transactions.
While it is inherently difficult to predict the eventual outcomes of pending actions, The Bank of New York Mellon denies liability
and intends to defend the litigation vigorously.



Except as described
in the previous paragraphs, no other legal proceedings are pending (or known to be contemplated by governmental authorities) against
any of World Omni Financial Corp. (the "Sponsor"), World Omni Auto Receivables LLC (the "Depositor"), U.S.
Bank National Association (the "Indenture Trustee"), the Trust or the other parties described in Item 1117 of Regulation
AB nor is any property of any of the foregoing entities subject to any such proceedings, that are material to holders of the Notes
or the Certificates.



PART II



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

Not applicable.



| | Item 6. | Selected Financial Data.
| | ------- | ------------------------

Not applicable.



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

Not applicable.



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

Not applicable.



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

Not applicable.



| | Item 9. | Changes
In and Disagreements With Accountants on Accounting and Financial Disclosure.
| | ------- | -------------------------------------------------------------------------------------

Not applicable.



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

Not applicable.



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

Not applicable.











PART III



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

Not applicable because
there are no directors or executive officers of the registrant.



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

Not applicable.



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

Not Applicable.



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

Not applicable.



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

Not applicable.



Substitute Information Provided in Accordance with General
Instruction J to Form 10-K:



ITEM 1119 OF REGULATION AB. AFFILIATIONS AND CERTAIN RELATIONSHIPS
AND RELATED TRANSACTIONS.



The Sponsor is the originator, as contemplated
by Item 1110 of Regulation AB, of all of the pool assets owned by the Trust. The Sponsor is also the primary servicer. The Depositor
is a wholly-owned subsidiary of the Sponsor and, therefore, a wholly-owned subsidiary of the originator and the primary servicer.
Through its purchase of the Certificates, the Depositor has acquired a 100% ownership interest in the Trust; therefore, the Trust
is an affiliated party of the Depositor and, indirectly, of the Sponsor (including in its role as originator and primary servicer).



The Indenture Trustee is not affiliated
with any of the Sponsor (including in its role as originator and primary servicer), the Depositor or the Trust.



There are no significant obligors, external
enhancement or support providers, or other material parties related to the Notes or Certificates.



In addition, there are no business relationships,
agreements, arrangements, transactions or understandings outside the ordinary course of business or on terms other than would be
obtained in an arm's length transaction with an unrelated party, apart from the transaction involving the issuance of the Notes
and Certificates by the Trust, between the Sponsor, the Depositor or the Trust and any of the parties mentioned in this Item.



ITEM 1122 OF REGULATION AB. COMPLIANCE WITH APPLICABLE SERVICING
CRITERIA.



The Sponsor (in its role as servicer) and
the Indenture Trustee (collectively, the "Servicing Parties") have each been identified by the registrant as parties
participating in the servicing function with respect to the asset pool held by the Trust. Each of the Servicing Parties has completed
a report on an assessment of compliance with the servicing criteria applicable to it under Item 1122 of Regulation AB (each, a
"Servicing Report"), which Servicing Reports are attached as exhibits to this Form 10-K. In addition, each of the Servicing
Parties has provided an attestation report (each, an "Attestation Report") by one or more registered public accounting
firms, which reports are also attached as exhibits to this Form 10-K. Neither of the Servicing Reports prepared by the Servicing
Parties, or the corresponding Attestation Reports, has identified any material instance of noncompliance with the servicing criteria
applicable to the respective Servicing Party.



ITEM 1123 OF REGULATION AB. SERVICER COMPLIANCE STATEMENT.



The Sponsor (in its role as servicer) has
been identified by the registrant as servicer with respect to the asset pool held by the Trust. The Sponsor has completed a statement
of compliance (a "Compliance Statement"), signed by an authorized officer of the Sponsor. The Compliance Statement is
attached as an exhibit to this Form 10-K.











PART IV



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



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

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

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



(b)          The
following documents are included as part of, or incorporated by reference to, this annual report:



Exhibit No.



| | 1.1 | Underwriting Agreement, dated as of October 22, 2014, relating to the Trust. Incorporated by reference to Exhibit 1.1 to the
Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission on October 29,
2014.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.1 | Certificate of Formation of the Depositor.Incorporated by reference to Exhibit
3.1 tothe Registrant’s Form S-3, Registration File Number 333-183014, filed
on August 2, 2012.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.2 | Limited Liability Company Agreement of the Depositor. Incorporated by reference to Exhibit 3.1 to the Registrant’s Form
S-3, Registration File Number 333-35542, filed on April 25, 2000.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.3 | Amendment No. 1 to Limited Liability Company Agreement of the Depositor. Incorporated by reference to Exhibit 3.2 to the Registrant’s
Form S-3, Registration File Number 333-159392, filed on August 11, 2009.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.1 | Sale and Servicing Agreement, dated as of October 29, 2014, relating to the Trust. Incorporated by reference to Exhibit 4.1
to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission on October
29, 2014.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.2 | Indenture, dated as of October 29, 2014, relating to the Trust. Incorporated by reference to Exhibit 4.2 to the Registrant’s
Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission on October 29, 2014.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.3 | Trust Agreement, dated as of October 29, 2014, relating to the Trust. Incorporated by reference to Exhibit 4.3 to the Registrant’s
Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission on October 29, 2014.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 31.1 | Rule
                                         13a-14(d)/15d-14(d) Certification.
| | ---- | --------------------------------------------------------------------------------



| | 33.1 | Report
                                         on Assessment of Compliance with Applicable Servicing Criteria of World Omni Financial
                                         Corp., as Servicer.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 33.2 | Management’s Assertion Report on Assessment of Compliance with Applicable Servicing Criteria Pursuant to Item 1122 of
Regulation AB under the Securities Exchange Act of 1934 of U.S. Bank National Association, as Indenture Trustee.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 34.1 | Report of Independent Registered Certified Public Accounting Firm of PricewaterhouseCoopers LLP, on behalf of World Omni Financial
Corp.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------



| | 34.2 | Report of Independent Registered Public Accounting Firm of Ernst & Young LLP, on behalf of U.S. Bank National Association.
| | ---- | --------------------------------------------------------------------------------------------------------------------------



| | 35.1 | Servicer Compliance Statement of World Omni Financial Corp., as Servicer.
| | ---- | -------------------------------------------------------------------------











| | 99.1 | Receivables Purchase Agreement, dated as of October 29, 2014, relating to the Trust. Incorporated by reference to Exhibit 99.1
to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission on October
29, 2014.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 99.2 | Administration Agreement, dated as of October 29, 2014, relating to the Trust. Incorporated by reference to Exhibit 99.2 to
the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission on October
29, 2014.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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











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.





| | World Omni Auto Receivables Trust 2014-B
| | ----------------------------------------
| |                                         
| | By: World Omni Financial Corp.,         
| | as Servicer on behalf of the Trust      



Date: March 10, 2017



| | /s/  Edward J. Brown, Jr.                           
| | ----------------------------------------------------
| | Edward J. Brown, Jr.                                
| | Group Vice President, Operations                    
| | (Senior officer in charge of the servicing function)
| | World Omni Financial Corp.                          
| | (Servicer on behalf of the Trust)                   



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 or proxy
materials have been sent to security holders and no such report or proxy materials are to be furnished to security holders subsequent
to the filing of this Annual Report on Form 10-K.











EXHIBIT INDEX



| | 1.1 | Underwriting Agreement, dated as of October 22, 2014, relating to the Trust. Incorporated by reference
to Exhibit 1.1 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission
on October 29, 2014.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.1 | Certificate of Formation of the Depositor.Incorporated by reference to Exhibit
3.1 tothe Registrant’s Form S-3, Registration File Number 333-183014, filed
on August 2, 2012.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.2 | Limited Liability Company Agreement of the Depositor. Incorporated by reference to Exhibit 3.1 to the Registrant’s Form
S-3, Registration File Number 333-35542, filed on April 25, 2000.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.3 | Amendment No. 1 to Limited Liability Company Agreement of the Depositor. Incorporated by reference to Exhibit 3.2 to the Registrant’s
Form S-3, Registration File Number 333-159392, filed on August 11, 2009.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.1 | Sale and Servicing Agreement, dated as of October 29, 2014, relating to the Trust. Incorporated
by reference to Exhibit 4.1 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed
with the Commission on October 29, 2014.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.2 | Indenture, dated as of October 29, 2014, relating to the Trust. Incorporated by reference to Exhibit
4.2 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission on
October 29, 2014.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.3 | Trust Agreement, dated as of October 29, 2014, relating to the Trust. Incorporated by reference
to Exhibit 4.3 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed with the Commission
on October 29, 2014.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 31.1 | Rule 13a-14(d)/15d-14(d) Certification.
| | ---- | ---------------------------------------



| | 33.1 | Report on Assessment of Compliance with Applicable Servicing Criteria of World Omni Financial Corp.,
as Servicer.
| | ---- | -----------------------------------------------------------------------------------------------------------------



| | 33.2 | Management’s Assertion Report on Assessment of Compliance with Applicable Servicing Criteria
Pursuant to Item 1122 of Regulation AB under the Securities Exchange Act of 1934 of U.S. Bank National Association, as Indenture
Trustee.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 34.1 | Report of Independent Registered Certified Public Accounting Firm of PricewaterhouseCoopers LLP,
on behalf of World Omni Financial Corp.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------



| | 34.2 | Report of Independent Registered Public Accounting Firm of Ernst & Young LLP, on behalf of
U.S. Bank National Association.
| | ---- | --------------------------------------------------------------------------------------------------------------------------



| | 35.1 | Servicer Compliance Statement of World Omni Financial Corp.,
as Servicer.
| | ---- | -------------------------------------------------------------------------



| | 99.1 | Receivables Purchase Agreement, dated as of October 29, 2014, relating to the Trust. Incorporated
by reference to Exhibit 99.1 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed
with the Commission on October 29, 2014.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 99.2 | Administration Agreement, dated as of October 29, 2014, relating to the Trust. Incorporated by
reference to Exhibit 99.2 to the Registrant’s Current Report on Form 8-K, Registration File Number 333-183014-05, filed with
the Commission on October 29, 2014.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------