UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549










FORM 10-K










ANNUAL REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934



(Mark One)



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



For the fiscal
year ended March 31, 2016



OR



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



For the transition
period from  to










333-183223-10(Commission File Number of issuing entity)



Honda Auto Receivables 2015-1 Owner Trust

(Exact name of issuing entity specified
in its charter)Central Index Key Number of issuing entity: 0001629037



333-183223(Commission File Number of depositor)



American Honda Receivables LLC

(Exact name of depositor as specified
in its charter)Central Index Key Number of depositor: 0000890975



American Honda Finance Corporation

(Exact name of sponsor as specified
in its charter)Central Index Key Number of sponsor: 0000864270



|Delaware                                                           | 47-6671548                          
|------------------------------------------------------------------ | ------------------------------------
|(State or other jurisdiction of organizationof the issuing entity) | (I.R.S. Employer Identification No.)



|c/o
        American Honda Receivables LLC
        20800
        Madrona Avenue
        Torrance,
        CA | 90503     
|------------------------------------------------------------------------------------------------------------ | ----------
|(Address of principal executive offices of
    the issuing entity)                                           | (Zip Code)



(310) 972-2511

(Telephone
number, including area code)










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
x



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
x



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 x   No  ̈



Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant
to Rule 405 of Regulation S-T 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 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  ̈



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



Registrant has no voting or non-voting class of common equity
outstanding and held by nonaffiliates as of the date of this report.


















PART I



The following items have been omitted in accordance with
General Instruction J to Form 10-K:



| | (a) | Item 1, Business         
| | --- | -------------------------
| | (b) | Item 1A, Risk Factors    
| | (c) | Item 2, Properties       
| | (d) | Item 3, Legal Proceedings



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



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 more than 10% of the pool assets
held by Honda Auto Receivables 2015-1 Owner Trust (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 Derivatives Instruments
(Financial Information).



No entity or group of affiliated entities provides any derivative
instruments that are used to alter the payment characteristics of the cashflows from the Trust.



Item 1117 of Regulation AB.    Legal Proceedings.



No legal proceedings are pending, and no proceedings are known
to be contemplated by governmental authorities, against any of the following companies: American Honda Finance Corporation (the
“Sponsor”), American Honda Receivables LLC (the “Depositor”), Citibank, N.A. (the “Owner Trustee”),
Citicorp Trust Delaware, National Association (the “Delaware Trustee”) or the Trust that are or would be material to
holders of the Notes or the Certificates.



U.S. Bank National Association (the “Indenture
Trustee”) has provided the additional information contained in the following paragraphs for purposes of compliance with
Regulation AB.



“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. 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



- 2 -







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.



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. 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.”



PART II



The following items have been omitted in accordance with
General Instruction J to Form 10-K:



| | (a) | Item 5, Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
| | --- | --------------------------------------------------------------------------------------------------------------------
| | (b) | Item 6, Selected Financial Data                                                                                     
| | (c) | Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations                       
| | (d) | Item 7A, Quantitative and Qualitative Disclosures About Market Risk                                                 
| | (e) | Item 8, Financial Statements and Supplementary Data                                                                 
| | (f) | Item 9, Changes in and Disagreements With Accountants on Accounting and Financial Disclosure                        
| | (g) | Item 9A, Controls and Procedures                                                                                    



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



Not applicable



PART III



The following items have been omitted in accordance with
General Instruction J to Form 10-K:



| | (a) | Item 10, Directors, Executive Officers and Corporate Governance                                         
| | --- | --------------------------------------------------------------------------------------------------------
| | (b) | Item 11, Executive Compensation                                                                         
| | (c) | Item 12, Security Ownership of  Certain Beneficial Owners and Management and Related Stockholder Matters
| | (d) | Item 13, Certain Relationships and Related Transactions                                                 
| | (e) | Item 14, Principal Accountant Fees and Services                                                         



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



- 3 -







role as originator and primary servicer), the Depositor, the
Indenture Trustee or the Trust. The Delaware Trustee is an affiliate of the Owner Trustee.



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, among 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
(together, the “Servicing Parties”) have each been identified by the registrant as a party 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 (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 Attestation Reports are also attached
as exhibits to this Form 10-K. Neither of the Servicing Reports prepared by the Sponsor or the Indenture Trustee, or the Attestation
Reports provided by the Sponsor or the Indenture Trustee, 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 a servicer with respect to the asset pool held by the Trust. The Sponsor has completed a statement of compliance
with applicable servicing criteria (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 and Financial Statement Schedules.
|-------- | -------------------------------------------



|(a)(1) | Not applicable.                                                                             
|------ | --------------------------------------------------------------------------------------------
|       |                                                                                             
|(a)(2) | Not applicable.                                                                             
|       |                                                                                             
|(a)(3) | The exhibits filed in response to Item 601 of Regulation S-K are listed in Item 15(b) below.
|       |                                                                                             
|(b)    | Exhibits required by Item 601 of Regulation S-K.                                            



The exhibits listed below are either included or incorporated
by reference as indicated:



Exhibit 3.1 – Certificate of Formation of the Depositor,
filed with the secretary of state of Delaware on March 16, 2011, incorporated by reference to Amendment No. 1 to Registration Statement
on Form S-3 (Reg. No. 333-173202), filed with the SEC by the Depositor on April 25, 2011.



Exhibit 3.2 – Limited Liability Company Agreement of the
Depositor, in effect since March 28, 2011, incorporated by reference to Amendment No. 1 to Registration Statement on Form S-3 (Reg.
No. 333-173202), filed with the SEC by the Depositor on April 25, 2011.



Exhibit 4.1 – Indenture, dated January 28, 2015, between
Honda Auto Receivables 2015-1 Owner Trust and U.S. Bank National Association, as indenture trustee, incorporated by reference to
Exhibit 4.1 on Form 8-K dated January 28, 2015, and filed by the registrant on January 28, 2015.



- 4 -







Exhibit 4.2 – Amended and Restated Trust Agreement, dated
January 28, 2015, among American Honda Receivables LLC, Citibank, N.A., as owner trustee, and Citicorp Trust Delaware, National
Association, as Delaware trustee, incorporated by reference to Exhibit 4.2 on Form 8-K dated January 28, 2015, and filed by the
registrant on January 28, 2015.



Exhibit 31.1 – Certification of senior officer in charge
of the servicing function of the servicer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.



Exhibit 33.1 – Report on Assessment of Compliance with
Servicing Criteria for Asset-Backed Securities of American Honda Finance Corporation.



Exhibit 33.2 – Report on Assessment of Compliance with
Servicing Criteria for Asset-Backed Securities of U.S. Bank National Association.



Exhibit 34.1 – Attestation Report on Compliance with Servicing
Criteria for Asset-Backed Securities of KPMG LLP, on behalf of American Honda Finance Corporation.



Exhibit 34.2 – Attestation Report on Assessment of Compliance
with Servicing Criteria for Asset-Backed Securities of Ernst and Young LLP, on behalf of U.S. Bank National Association.



Exhibit 35.1 – Servicing Compliance Statement of American
Honda Finance Corporation.



Exhibit 99.1 – Sale and Servicing Agreement, dated January
28, 2015, among Honda Auto Receivables 2015-1 Owner Trust, American Honda Receivables LLC and American Honda Finance Corporation,
incorporated by reference to Exhibit 99.1 on Form 8-K dated January 28, 2015, and filed by the registrant on January 28, 2015.



Exhibit 99.2 – Receivables Purchase Agreement, dated January
28, 2015, between American Honda Finance Corporation and American Honda Receivables LLC, incorporated by reference to Exhibit 99.2
on Form 8-K dated January 28, 2015, and filed by the registrant on January 28, 2015.



Exhibit 99.3 – Administration Agreement, dated January
28, 2015, among Honda Auto Receivables 2015-1 Owner Trust, American Honda Finance Corporation, American Honda Receivables LLC and
U.S. Bank National Association, as indenture trustee, incorporated by reference to Exhibit 99.3 on Form 8-K dated January 28, 2015,
and filed by the registrant on January 28, 2015.



Exhibit 99.4 – Control Agreement, dated January 28, 2015,
among American Honda Receivables LLC, Honda Auto Receivables 2015-1 Owner Trust, American Honda Finance Corporation, and U.S. Bank
National Association, as indenture trustee, as assignee-secured party, and as securities intermediary, incorporated by reference
to Exhibit 99.4 on Form 8-K dated January 28, 2015, and filed by the registrant on January 28, 2015.



(c)	Not applicable.



- 5 -







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 hereunto duly authorized.



|                    | Honda Auto Receivables 2015-1 Owner Trust
|------------------- | -----------------------------------------
|                    |                                          
|                    | By:                                      
|                    |                                          
|                    | By:                                      
|                    |                                          
|                    |                                          
|Date: June 15, 2016 |                                          



- 6 -







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.



- 7 -







EXHIBIT INDEX



|Exhibit | Description
|------- | -----------



Exhibit 3.1 – Certificate of Formation of the Depositor,
filed with the secretary of state of Delaware on March 16, 2011, incorporated by reference to Amendment No. 1 to Registration Statement
on Form S-3 (Reg. No. 333-173202), filed with the SEC by the Depositor on April 25, 2011.



Exhibit 3.2 – Limited Liability Company Agreement of the
Depositor, in effect since March 28, 2011, incorporated by reference to Amendment No. 1 to Registration Statement on Form S-3 (Reg.
No. 333-173202), filed with the SEC by the Depositor on April 25, 2011.



Exhibit 4.1 – Indenture, dated January 28, 2015, between
Honda Auto Receivables 2015-1 Owner Trust and U.S. Bank National Association, as indenture trustee, incorporated by reference to
Exhibit 4.1 on Form 8-K dated January 28, 2015, and filed by the registrant on January 28, 2015.



Exhibit 4.2 – Amended and Restated Trust Agreement, dated
January 28, 2015, among American Honda Receivables LLC, Citibank, N.A., as owner trustee, and Citicorp Trust Delaware, National
Association, as Delaware trustee, incorporated by reference to Exhibit 4.2 on Form 8-K dated January 28, 2015, and filed by the
registrant on January 28, 2015.



Exhibit 31.1 – Certification of senior officer in charge
of the servicing function of the servicer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.



Exhibit 33.1 – Report on Assessment of Compliance with
Servicing Criteria for Asset-Backed Securities of American Honda Finance Corporation.



Exhibit 33.2 – Report on Assessment of Compliance with
Servicing Criteria for Asset-Backed Securities of U.S. Bank National Association.



Exhibit 34.1 – Attestation Report on Compliance with Servicing
Criteria for Asset-Backed Securities of KPMG LLP, on behalf of American Honda Finance Corporation.



Exhibit 34.2 – Attestation Report on Assessment of Compliance
with Servicing Criteria for Asset-Backed Securities of Ernst and Young LLP, on behalf of U.S. Bank National Association.



Exhibit 35.1 – Servicing Compliance Statement of American
Honda Finance Corporation.



Exhibit 99.1 – Sale and Servicing Agreement, dated January
28, 2015, among Honda Auto Receivables 2015-1 Owner Trust, American Honda Receivables LLC and American Honda Finance Corporation,
incorporated by reference to Exhibit 99.1 on Form 8-K dated January 28, 2015, and filed by the registrant on January 28, 2015.



Exhibit 99.2 – Receivables Purchase Agreement, dated January
28, 2015, between American Honda Finance Corporation and American Honda Receivables LLC, incorporated by reference to Exhibit 99.2
on Form 8-K dated January 28, 2015, and filed by the registrant on January 28, 2015.



Exhibit 99.3 – Administration Agreement, dated January
28, 2015, among Honda Auto Receivables 2015-1 Owner Trust, American Honda Finance Corporation, American Honda Receivables LLC and
U.S. Bank National Association, as indenture trustee, incorporated by reference to Exhibit 99.3 on Form 8-K dated January 28, 2015,
and filed by the registrant on January 28, 2015.



Exhibit 99.4 – Control Agreement, dated January 28, 2015,
among American Honda Receivables LLC, Honda Auto Receivables 2015-1 Owner Trust, American Honda Finance Corporation, and U.S. Bank
National Association, as indenture trustee, as assignee-secured party, and as securities intermediary, incorporated by reference
to Exhibit 99.4 on Form 8-K dated January 28, 2015, and filed by the registrant on January 28, 2015.



- 8 -