SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                    ---------

                                    FORM 10-K

                        FOR ANNUAL AND TRANSITION REPORTS
                     PURSUANT TO SECTIONS 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 [FEE REQUIRED]

For the fiscal year ended December 31, 1996

                                       OR

[   ]       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
            SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

For the transition period from _______ to __________

                         Commission file number: 0-28744

                               CIT RV TRUST 1996-B
             (Exact name of registrant as specified in its charter)

              Delaware                                   52-2005294
   (State or other jurisdiction of                    (I.R.S. Employer
   incorporation or organization)                    Identification No.)

    c/o The CIT Group Securitization Corporation II
    650 CIT Drive
    Livingston, New Jersey                                        07039
    (Address of principal executive offices)                    (Zip Code)

Registrant's telephone number, including area code:  (201) 740-5000

Securities registered pursuant to Section 12(b) of the Act:

                                      None
                                (Title of Class)

Securities registered pursuant to Section 12(g) of the Act:

                                      None
                                (Title of Class)

    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 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. [ ]



<PAGE>


                                     PART I

Item 1.           Business.
                  --------  
      On  August  21,  1996 The CIT  Group  Securitization  Corporation  II (the
"Company") sold $88,000,000  aggregate principal amount of Class A-1 6.00% Asset
Backed Notes;  $75,000,000  aggregate  principal amount of Class A-2 6.40% Asset
Backed Notes;  $62,600,000  aggregate  principal  amount of Class A-3 6.65% (the
"Notes")  and  $14,400,000  aggregate  principal  amount of 7.10%  Asset  Backed
Certificates (the Certificates"). The Certificates have the benefit of a Reserve
Account. The Notes and Certificates were offered for sale to the public pursuant
to a prospectus  supplement dated August 14, 1996 to a prospectus dated July 24,
1996 (the "Prospectus").

      The  Certificates  represent  an  ownership  interest  in the CIT RV Trust
1996-B (the "Trust") and the Notes represent obligations of the Trust. The Trust
was created,  and the Certificates  were issued,  pursuant to a Trust Agreement,
dated as of August 1, 1996 (the  "Trust  Agreement"),  between  the  Company and
Mellon Bank (DE), National Association,  as owner trustee (the "Owner Trustee").
The Notes were issued pursuant to an Indenture,  dated as of August 1, 1996 (the
"Indenture"),  between the Trust and The Bank of New York, as indenture  trustee
(the "Indenture Trustee").

      The  Trust's  only  business  is to act as a  passive  conduit  to  permit
investment in a pool of retail consumer receivables.


Item 2.           Properties.
                  ----------  
      The  property of the Trust  consists of a pool of simple  interest  retail
installment  sale contracts  secured by the new and used  recreational  vehicles
financed thereby (the "Contracts").

      All of the Contracts were acquired by the Company from The CIT Group/Sales
Financing,  Inc. ("CITSF") pursuant to the terms of a Purchase Agreement,  dated
as of August 1, 1996,  and sold by the  Company to the Trust  pursuant to a Sale
and  Servicing  Agreement,  dated as of August 1, 1996 (the "Sale and  Servicing
Agreement"), among the Company, as seller, CITSF, as servicer, and the Trust.

      Information  related to the payment on the Contracts by the obligors under
the  Contracts  is set  forth in the 1996  Annual  Statement  of Trust  filed as
Exhibit 99.3 to this Annual Report on Form 10-K.


Item 3.           Legal Proceedings.
                  -----------------  
      In June,  1995,  a suit,  Harvey  Travis  et al.  v. The CIT  Group  Sales
Financing,  Inc.,  et al.,  Civil  Action No.  CV-95-P-1544-S,  was filed in the
United  States  District  Court for the  Northern  District of Alabama,  against
CITSF, its force-placed insurance carrier and another lender. Plaintiffs in this
action allege  primarily that  force-placed  insurance  coverage on manufactured
homes was placed by  defendants  in a manner which caused  plaintiffs  and other
borrowers  to be charged or assessed for  excessive  premiums and that there was
inadequate  disclosure  regarding certain fees charged and commissions earned in
connection therewith. In their complaint,  plaintiffs ask that a class action be
certified,  with the class to be comprised of individuals  against whom monetary
charges  alleged to be excessive  have been assessed  and/or  collected by CITSF
and/or the other  defendants  for the  purchase  of  force-placed  insurance  in
connection with consumer  installment  transactions  with CITSF and/or the other
defendants.
<PAGE>

      The class allegations in the Travis suit have been dismissed.  Mr. and
Mrs. Travis subsequently brought the same suit as individuals.  This case has
been settled.

      The registrant knows of no other material  pending legal  proceedings with
respect to the Trust or involving the Trust,  the Owner  Trustee,  the Indenture
Trustee, the Company or CITSF.


Item 4.           Submission of Matters to a Vote of Security Holders.
                  ---------------------------------------------------  
      No matter was submitted to a vote of Certificateholders  during the fiscal
year covered by this report.



                                     PART II


Item 5.           Market for Registrant's Common Equity and Related
                  -------------------------------------------------
                  Stockholder Matters.
                  ------------------- 

      Other than one Certificate in the amount of 150,000 the  Certificates  and
Notes are held and  delivered in book-entry  form through the  facilities of The
Depository Trust Company ("DTC"), a "clearing agency" registered pursuant to the
provisions of Section 17A of the Securities Exchange Act of 1934, as amended.

      As of  January  2,  1997,  100% of the Class  A-1  Notes  were held in the
nominee name of Cede & Co. for 7 beneficial owners,  100% of the Class A-2 Notes
were held in the nominee name of Cede & Co. for 27 beneficial owners and 100% of
the  Class  A-3  Notes  were  held in the  nominee  name  of  Cede & Co.  for 10
beneficial  owners.  As of January 2, 1997, 99% of the Certificates were held in
the  nominee  name  of  Cede  & Co.  for  3  beneficial  owners  and  1% of  the
Certificates  were held in the form of a definitive  Certificate by an affiliate
of the Company.


Item 9.         Changes in and Disagreements with Accountants on
                ------------------------------------------------ 
                Accounting and Financial Disclosure.
                ----------------------------------- 

                None.

<PAGE>


                                     PART IV


Item 14.       Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
               ----------------------------------------------------------------
                (a)   Exhibits:
                      --------   
Exhibit Number                                      Description
--------------                                      -----------   
    19                            Annual Accountants' Report with respect to the
                                  servicing of the  contracts  by the  Servicer,
                                  pursuant to the Sale and Servicing Agreement.

    99.1                          Annual Officer's Certificate.

    99.2                          Management's Assertion.

    99.3                          1996 Annual Statement of Trust.


                (b)   Reports on Form 8-K:
                      -------------------   
                      Current  Reports  on Form 8-K are filed  each  month.  The
                      reports  include as an  exhibit,  the  Monthly  Reports to
                      Certificateholders.  Current  Reports  on Form  8-K  dated
                      September 16, 1996;  October 15, 1996;  November 15, 1996;
                      December 16, 1996 and January 15, 1997 were filed with the
                      Securities and Exchange Commission.


                (c), (d)          Omitted.


<PAGE>


                                   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.




                                              CIT RV Trust 1996-B
                                              (Registrant)

                                              By:  The CIT Group/Sales
                                              Financing, Inc., as Servicer


Dated:  March 26, 1997                        By: /s/ Frank Garcia
                                                  ----------------
                                                  Name: Frank Garcia
                                                  Title:Vice President