UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549










FORM 10-K










ANNUAL REPORT

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



For the fiscal
year ended March 31, 2012



OR



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



For the transition
period from  to










333-173202-02(Commission File Number of issuing entity)

Honda
Auto Receivables 2011-3 Owner Trust

(Exact name of issuing entity specified
in its charter)



333-173202(Commission File Number of depositor)

American
Honda Receivables LLC

(Exact name of depositor as specified
in its charter)



American
Honda Finance Corporation

(Exact name of sponsor as specified in
its charter)



|Delaware                                                            | 80-6211506                         
|------------------------------------------------------------------- | -----------------------------------
|(State or other jurisdiction of organization of 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:

|Title of Each Class | Name of Each Exchange on Which Registered
|------------------- | -----------------------------------------
|None                | 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, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer”
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.





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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 2011-3 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”), Union Bank, N.A. (the “Indenture Trustee”),
The Bank of New York Mellon (the “Owner Trustee”), BNY Mellon Trust of Delaware (the “Delaware Trustee”),
DealerTrack Collateral Management Services (fka FDI Computer Consulting, Inc., dba FDI Collateral Management) (“DealerTrack”)
or the Trust that are or would be material to holders of the Notes or the Certificates.





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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 Operation
| | --- | --------------------------------------------------------------------------------------------

| | (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 and Executive Officers of the Registrant
| | --- | -----------------------------------------------------------

| | (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, DealerTrack (including
in its role as special servicer) 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, DealerTrack (including in its role as special servicer) or the Trust.
The Delaware Trustee is not affiliated with the Sponsor (including in its role as originator and primary servicer), the Depositor,
the Indenture Trustee, DealerTrack (including in its role as special servicer) or the Trust. The Delaware Trustee is an affiliate
of the Owner Trustee. DealerTrack, as a special servicer, is likewise not affiliated with the Sponsor (including in its role as
originator and primary servicer), the Depositor, the Indenture Trustee, the Owner Trustee, the Delaware Trustee 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, among the Sponsor, the Depositor or the Trust and any of the parties mentioned in this Item.





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Since February 2002, the Sponsor has contracted
with DealerTrack’s parent, DealerTrack Holdings, Inc. (fka triVIN Inc.), for DealerTrack to provide certain
software-based collateral management and electronic lien and title services to the Sponsor through online services made
available by the motor vehicle administrations in various states. This contract was most recently updated in March 2012 to
provide for Sponsor’s acceptance of standard terms of service for the software used in connection with the services.
The vehicles for which DealerTrack performs these services correspond to approximately 100% of the receivables contained in
the asset pool held by the Trust.





Item 1122 of Regulation AB.	    Compliance with Applicable
Servicing Criteria.



The Sponsor (in its role as servicer), the Indenture Trustee
and DealerTrack (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 (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 Sponsor, the Indenture Trustee or DealerTrack,
or the Attestation Reports provided by the Sponsor, the Indenture Trustee or DealerTrack, 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) and DealerTrack have been
identified by the registrant as servicers with respect to the asset pool held by the Trust. Each of the Sponsor and DealerTrack
has completed a statement of compliance with applicable servicing criteria (each, a “Compliance Statement”), in each
case signed by an authorized officer of the Sponsor and DealerTrack, respectively. The Compliance Statements are attached as exhibits
to this Form 10-K.



PART IV



| | Item 15. | Exhibits.
| | -------- | ---------



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.



Exhibit 3.2 – Limited Liability Company Agreement of the
Depositor, in effect since March 28, 2011.



Exhibit 4.1 – Indenture, dated October 21, 2011, between
Honda Auto Receivables 2011-3 Owner Trust and Union Bank, N.A., as indenture trustee, incorporated by reference to Exhibit 4.1
to Form 8-K dated October 21, 2011, and filed by the registrant on October 21, 2011.



Exhibit 4.2 – Amended and Restated Trust Agreement, dated
October 21, 2011, among American Honda Receivables LLC, The Bank of New York Mellon, as owner trustee, and BNY Mellon Trust of
Delaware, as Delaware trustee, incorporated by reference to Exhibit 4.2 to Form 8-K dated October 21, 2011, and filed by the registrant
on October 21, 2011.



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.





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Exhibit 33.2 – Report on Assessment of Compliance with
Servicing Criteria for Asset-Backed Securities of DealerTrack Collateral Management Services.





Exhibit 33.3 – Report on Assessment of Compliance with
Servicing Criteria for Asset-Backed Securities of Union Bank, N.A.



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 Mayer Hoffman McCann P.C., on behalf
of DealerTrack Collateral Management Services.





Exhibit 34.3 –Attestation Report on Assessment of Compliance
with Servicing Criteria for Asset-Backed Securities of Deloitte & Touche LLP, on behalf of Union Bank, N.A.



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





Exhibit 35.2 – Servicing Compliance Statement of DealerTrack
Collateral Management Services.











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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 2011-3 Owner Trust                                                                      
|------------------- | ---------------------------------------------------------------------------------------------------------------
|                    | By: American Honda Finance Corporation, as Servicer                                                            
|                    | By:/s/ Paul C. Honda                                                                                           
|                    | Paul C. Honda                                                                                                  
|Date: June 28, 2012 | Vice President, Assistant Secretary and Compliance Officer (senior officer in charge of the servicing function)








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.



Exhibit 3.2 – Limited Liability Company Agreement of the
Depositor, in effect since March 28, 2011.



Exhibit 4.1 – Indenture, dated October 21, 2011, between
Honda Auto Receivables 2011-3 Owner Trust and Union Bank, N.A., as indenture trustee, incorporated by reference to Exhibit 4.1
to Form 8-K dated October 21, 2011, and filed by the registrant on October 21, 2011.



Exhibit 4.2 – Amended and Restated Trust Agreement, dated
October 21, 2011, among American Honda Receivables LLC, The Bank of New York Mellon, as owner trustee, and BNY Mellon Trust of
Delaware, as Delaware trustee, incorporated by reference to Exhibit 4.2 to Form 8-K dated October 21, 2011, and filed by the registrant
on October 21, 2011.



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 DealerTrack Collateral Management Services.





Exhibit 33.3 – Report on Assessment of Compliance with
Servicing Criteria for Asset-Backed Securities of Union Bank, N.A.



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





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Exhibit 34.2 – Attestation Report on Assessment of Compliance with Servicing Criteria for Asset-Backed
Securities of Mayer Hoffman McCann P.C., on behalf of DealerTrack Collateral Management Services.





Exhibit 34.3 –Attestation Report on Assessment of Compliance
with Servicing Criteria for Asset-Backed Securities of Deloitte & Touche LLP, on behalf of Union Bank, N.A.



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



Exhibit 35.2 – Servicing Compliance Statement of DealerTrack Collateral Management Services.







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