UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

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

For the fiscal year ended December 31, ~~2017~~2018

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

For the transition period from _______ to _______

Commission file number of issuing entity: 333-188672-08

Commission file number of depositor: 333-188672-01

TOYOTA AUTO RECEIVABLES 2015-C OWNER TRUST

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

Central Index Key Number of issuing entity: 0001649675

TOYOTA AUTO FINANCE RECEIVABLES LLC

(Exact name of depositor and registrant as specified in its charter)

Central Index Key Number of depositor and registrant: 0001131131

TOYOTA MOTOR CREDIT CORPORATION

(Exact name of sponsor as specified in its charter)

Central Index Key Number of sponsor: 0000834071

Delaware (State or other jurisdiction of incorporation or organization of issuing entity)	38-7113067 (I.R.S. Employer Identification No. of issuing entity)

6565 Headquarters Drive, W2-3D Plano, Texas (Address of principal executive offices of issuing entity)	75024-5965 (Zip Code)

Registrant’s telephone number, including area code: (469) 486-9020

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

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

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 ☐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 (§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.

☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ ~~(Do not check if a smaller reporting company)~~ Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

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

☐Yes ☒ No

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 prices of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.

REGISTRANT HAS NO VOTING OR NON-VOTING COMMON EQUITY OUTSTANDING HELD BY NON-AFFILIATES.

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).

NOT APPLICABLE.

PART I

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

Item 1. Business.

Item 1A. Risk Factors.

Item 2. Properties.

Item 3. Legal Proceedings.

Item 1B. Unresolved Staff Comments.

None.

Item 4. Mine Safety Disclosures.

Not applicable.

The following substitute information is provided in accordance with General Instruction J to Form 10-K:

Item 1112(b) of Regulation AB. Significant Obligors of Pool Assets.

No single obligor represents 10% or more of the asset pool owned by Toyota Auto Receivables 2015-C Owner Trust (the “Trust”).

Item 1114(b)(2) of Regulation AB. Credit Enhancement and Other Support, Except for Certain Derivatives Instruments.

No entity or group of affiliated entities provides any external credit enhancement or other support with respect to either payment on the pool assets owned by the Trust or payments on the notes (the “Notes”) or the certificate (the “Certificate”) issued by the Trust.

Item 1115(b) of Regulation AB. Certain Derivatives Instruments.

No entity or group of affiliated entities provides any external derivative instruments to either payment on the pool assets owned by the Trust or payments on the Notes or the Certificate.

Item 1117 of Regulation AB. Legal Proceedings.

As previously disclosed by Toyota Motor Credit Corporation (“TMCC”), TMCC has received a request for documents and information from the New York State Department of Financial Services relating to its lending practices (including fair lending), and a request for documents and information pursuant to a civil investigative demand from the Commonwealth of Massachusetts Office of the Attorney General relating to TMCC’s financing of guaranteed auto protection (GAP) insurance products on retail contracts. TMCC isprovided ~~cooperating~~the ~~with~~requested ~~these~~documents ~~requests~~and information, but ishas ~~unable~~not tohad ~~predict~~further ~~their~~communication ~~outcome~~with ~~given~~either agency regarding their ~~preliminary~~respective ~~status~~reviews.

The following ~~seven~~six paragraphs are disclosures received from Deutsche Bank Trust Company Americas (“DBTCA”), which serves as the indenture trustee under the indenture for the Toyota Auto Receivables 2015-C Owner Trust transaction.

DBTCA and Deutsche Bank National Trust Company (“DBNTC”) have been sued by investors in civil litigation concerning their role as trustees of certain residential mortgage -backed securities (“RMBS”) trusts.

On June 18, 2014, a group of investors, including funds managed by Blackrock Advisors, LLC, PIMCO-Advisors, L.P., and others, filed ~~a derivative~~ an action against DBNTC and DBTCA in New York State Supreme Court ~~purportedly~~alleging onthat ~~behalf~~DBNTC of and ~~for~~DBTCA ~~the~~failed ~~benefit~~to ofperform purported duties, as trustees for 544 private-label RMBS trusts, ~~asserting~~to ~~claims~~enforce ~~for~~breaches ~~alleged violations~~ of ~~the~~representations ~~U.S.~~and ~~Trust~~warranties ~~Indenture~~as ~~Act~~to ofmortgage loans ~~1939~~held (by the ~~“TIA”)),~~trusts ~~breach of contract, breach of fiduciary duty~~ and ~~negligence~~to ~~based~~enforce onbreaches ~~DBNTC~~by ~~and~~servicers ~~DBTCA’s~~of ~~alleged failure to perform~~ their ~~duties~~mortgage asloan ~~trustees~~servicing obligations for the trusts. During ~~Plaintiffs~~the ~~subsequently~~course of the litigation, plaintiffs dismissed ~~their~~the ~~state~~case ~~court~~from ~~complaint~~New ~~and~~York ~~filed~~State aSupreme ~~derivative~~Court and ~~class~~refiled ~~action~~two separate ~~complaint~~cases, one in the U.S. District Court for the Southern District of New York ~~on behalf of and for~~ (the ~~benefit~~“BlackRock ofSDNY ~~564~~Case”) ~~private-label~~and ~~RMBS trusts, which substantially overlapped with~~ the ~~trusts~~other ~~at issue~~ in the ~~state~~Superior ~~court~~Court ~~action. The complaint alleges that the trusts at issue have suffered total realized collateral losses~~ of ~~U.S. $89.4 billion~~ California, ~~but~~Orange County (the ~~complaint~~“BlackRock ~~does~~California ~~not include a demand for money damages in a sum certain~~Case”). Pursuant ~~DBNTC~~to ~~and DBTCA filed~~ a ~~motion~~settlement toamong ~~dismiss, and on January 19, 2016,~~ the ~~court partially granted the motion on procedural grounds: as to the 500 trusts that are governed by pooling and servicing agreements~~parties, the ~~court~~BlackRock ~~declined~~SDNY toCase ~~exercise~~was ~~jurisdiction.~~dismissed ~~The court did not rule~~ on ~~substantive~~December ~~defenses asserted in the motion to dismiss. On March 22~~6, ~~2016,~~2018 plaintiffs filed an amended complaint in federal court. In the amended complaint, in connection with 62 trusts governed by indenture agreements, plaintiffs assert claims for breach of contract, violation of the TIA, breach of fiduciary duty, and ~~breach of duty to avoid conflicts of interest. The amended complaint alleges that~~ the ~~trusts~~BlackRock atCalifornia ~~issue~~Case ~~have~~was ~~suffered~~dismissed ~~total~~on January ~~realized collateral losses of U.S. $9.8 billion~~11, ~~but the complaint does not include a demand for money damages in a sum certain~~2019. ~~On July 15, 2016, DBNTC and~~

~~DBTCA filed a motion to dismiss the amended complaint.~~ On ~~January~~September 2327, 2017, ~~the~~DBTCA ~~court~~was ~~granted~~added inas ~~part~~a ~~and~~defendant ~~denied in part DBNTC and DBTCA’s motion~~ to ~~dismiss. The~~a ~~court~~case ~~granted~~brought ~~the~~by ~~motion~~certain tospecial ~~dismiss~~purpose ~~with~~entities ~~respect~~including toPhoenix ~~plaintiffs’~~Light ~~conflict-of-interest~~SF Limited ~~claim,~~in ~~thereby~~the ~~dismissing~~U.S. ~~it,~~District ~~and~~Court ~~denied~~for the ~~motion~~Southern toDistrict ~~dismiss~~of ~~with~~New ~~respect~~York, toin which plaintiffs’ ~~breach~~previously ofalleged ~~contract~~incorrectly ~~claim~~that ~~(except~~DBNTC served as ~~noted~~trustee ~~below) and claim~~ for ~~violation~~all 43 of the ~~TIA,~~trusts ~~thereby~~at ~~allowing those claims to proceed~~issue. On ~~January~~September 2627, 2017, ~~the~~plaintiffs ~~parties~~ filed a ~~joint~~third ~~stipulation~~amended complaint ~~and~~that ~~proposed~~names ~~order~~DBTCA ~~dismissing~~as ~~plaintiffs’~~a ~~claim~~defendant ~~for~~in ~~breach~~addition ofto ~~fiduciary duty~~DBNTC. OnDBTCA ~~January~~serves ~~27,~~as ~~2017,~~trustee ~~the court entered the parties’ joint stipulation and ordered that plaintiffs’ claim~~ for ~~breach~~one of ~~fiduciary~~the ~~duty~~43 betrusts ~~dismissed~~at issue. ~~On February 3, 2017, following a hearing concerning~~ DBNTC ~~and~~serves ~~DBTCA’s~~as ~~motion~~trustee tofor ~~dismiss on February 2, 2017,~~ the ~~court~~other ~~issued~~42 atrusts ~~short~~at ~~form order dismissing (i) plaintiffs~~issue. Plaintiffs’ ~~representation~~third ~~and~~amended ~~warranty~~complaint brings claims asfor violation toof ~~21 trusts whose originators and/or sponsors had entered bankruptcy and~~ the ~~deadline~~U.S. ~~for~~Trust ~~asserting~~Indenture ~~claims~~Act ~~against such originators and/or sponsors had passed as~~ of ~~2009~~1939 ~~and~~ (~~ii) plaintiffs’ claims to~~ the ~~extent~~“TIA”); ~~they~~breach ~~were~~of ~~premised~~contract; ~~upon~~breach ~~any alleged pre-event~~ of ~~default~~fiduciary duty; tonegligence ~~terminate servicers. On March 27, 2017, DBNTC~~ and ~~DBTCA~~gross ~~filed~~negligence; anviolation ~~answer~~of to the ~~amended~~New ~~complaint. On~~York ~~January~~Streit ~~26,~~Act; ~~2018, plaintiffs filed a motion for class certification. DBNTC~~ and ~~DBTCA’s~~breach ~~opposition~~of tothe ~~plaintiffs’~~covenant ~~motion~~of isgood ~~due on March 26, 2018, and plaintiffs’ reply is due on April 16, 2018~~faith. ~~Discovery is ongoing.~~

~~On March 25~~However, ~~2016,~~in the ~~BlackRock~~third ~~plaintiffs~~amended ~~filed~~complaint, aplaintiffs ~~state~~acknowledge ~~court~~that, ~~action~~before ~~against~~ DBTCA inwas ~~the~~added ~~Superior~~to ~~Court~~the ~~of California~~case, ~~Orange~~the ~~County~~court ~~with~~dismissed plaintiffs’ ~~respect~~TIA toAct ~~513 trusts. On May 18~~claims, ~~2016,~~negligence ~~plaintiffs~~and ~~filed~~gross annegligence ~~amended~~claims, ~~complaint~~Streit ~~with~~Act ~~respect to 465 trusts~~claims, ~~and~~claims ~~included~~for ~~DBNTC~~breach asof anthe ~~additional~~covenant ~~defendant. The~~of ~~amended~~good ~~complaint~~faith, ~~asserts~~and ~~three~~certain ~~causes~~theories of ~~action:~~ plaintiffs’ breach of contract; ~~breach~~claims, ~~of fiduciary duty;~~ and ~~breach~~plaintiffs ofonly ~~the~~include ~~duty~~these claims to preserve ~~avoid~~any ~~conflicts~~rights ofon ~~interest~~appeal. Plaintiffs ~~purport~~allege todamages ~~bring the action on behalf~~ of ~~themselves~~“hundreds ~~and all other current owners~~ of ~~certificates~~millions ~~in the 465 trusts. The amended complaint alleges that the trusts at issue have suffered total realized collateral losses~~ of Udollars.~~S. $75.7 billion, but does not include a demand for money damages in a sum certain.~~” On ~~August~~November 2213, ~~2016~~2017, DBNTC and DBTCA filed aan ~~demurrer~~answer as to ~~plaintiffs’ breach of fiduciary duty cause of action and breach of~~ the ~~duty~~third toamended ~~avoid conflicts of interest cause of action and motion to strike as to plaintiffs’ breach of contract cause of action~~complaint. On ~~October~~December 187, ~~2016~~2018, ~~the court granted~~ DBNTC and DBTCA’s ~~demurrer,~~filed ~~providing~~a ~~plaintiffs with thirty days’ leave to amend, and denied DBNTC and DBTCA’s~~ motion tofor summary ~~strike~~judgment. ~~Plaintiffs~~Also ~~did not further amend their complaint and,~~ on December 197, ~~2016~~2018, ~~DBNTC~~plaintiffs, ~~and~~jointly ~~DBTCA~~with ~~filed~~Commerzbank anAG ~~answer~~(see todescription ~~the~~of ~~amended~~Commerzbank ~~complaint. On~~case ~~January 17~~below), ~~2018, plaintiffs~~ filed a motion for ~~class~~partial ~~certification~~summary judgment. ~~DBNTC~~Both ~~and~~motions ~~DBTCA’s~~are ~~opposition~~being tobriefed ~~plaintiffs’~~by ~~motion~~the ~~is due on March 30, 2018, and plaintiffs’ reply is due on April 30, 2018~~parties. Discovery is ongoing.

On ~~September~~November 2730, 2017, DBTCA was added as a defendant to a case brought by ~~certain~~Commerzbank ~~special~~AG ~~purpose~~(“Commerzbank”) ~~entities including Phoenix Light SF Limited~~ in the U.S. District Court for the Southern District of New York, in which ~~plaintiffs~~Commerzbank previously alleged incorrectly that DBNTC served as trustee for all 4350 of the trusts at issue. On ~~September~~November 2730, 2017, ~~plaintiffs~~Commerzbank filed a ~~third~~second amended complaint that names DBTCA as a defendant in addition to DBNTC. DBTCA serves as trustee for ~~one~~1 of the 4350 trusts at issue. DBNTC serves as trustee for the other 4249 trusts at issue. ~~Plaintiffs~~Commerzbank’s ~~third~~second amended complaint brings claims for violation of the TIA; breach of contract; breach of fiduciary duty; negligence ~~and gross negligence~~; violation of the Streit Act; and breach of the covenant of good faith. However, in the ~~third~~second amended complaint, ~~plaintiffs~~Commerzbank ~~acknowledge~~acknowledges that, before DBTCA was added to the case, the court dismissed ~~plaintiffs~~Commerzbank’s TIA ~~Act~~ claims, ~~negligence~~for ~~and~~the ~~gross~~trusts ~~negligence~~governed ~~claims~~by pooling and servicing agreements, as well as its Streit Act claims, and claims for breach of the covenant of good faith, and ~~certain~~Commerzbank ~~theories of plaintiffs’ breach of contract claims, and plaintiffs~~ only ~~include~~includes these claims to preserve any rights on appeal. ~~Plaintiffs~~The ~~allege~~second ~~damages~~amended ofcomplaint alleges that DBNTC and DBTCA caused Commerzbank to suffer “hundreds of millions of dollars. in losses,” but the complaint does not include a demand for money damages in a sum certain. On ~~November~~January 1329, ~~2017~~ 2018, DBNTC and DBTCA filed an answer to the ~~third~~second amended complaint. On December 7, 2018, DBNTC and DBTCA filed a motion for summary judgment. Also on December 7, 2018, Commerzbank, jointly with the Phoenix Light plaintiffs, filed a motion for partial summary judgment. Both motions are being briefed by the parties. Discovery is ongoing.

On ~~November~~December 30, ~~2017~~2015, ~~DBTCA~~IKB ~~was~~International, ~~added~~S.A. asin aLiquidation ~~defendant~~and toIKB aDeutsche ~~case~~Industriebank ~~brought~~A.G. ~~by Commerzbank AG~~ (collectively, “~~Commerzbank~~IKB”), as an investor in ~~the~~37 ~~U.S.~~RMBS ~~District~~trusts, ~~Court~~filed ~~for~~a summons with notice in the ~~Southern~~Supreme ~~District~~Court of the State of New York, inNew ~~which~~York ~~Commerzbank~~County, ~~previously~~against ~~alleged incorrectly that~~ DBNTC ~~served~~and DBTCA as ~~trustee~~trustees ~~for all 50~~ of the trusts ~~at issue~~. On ~~November~~May 3027, ~~2017~~2016, ~~Commerzbank~~IKB ~~filed~~served aits ~~second amended~~ complaint ~~that~~asserting ~~names~~claims ~~DBTCA~~for asbreach aof ~~defendant~~contract, breach inof ~~addition~~fiduciary toduty, ~~DBNTC. DBTCA~~breach ~~serves~~of asduty ~~trustee~~to ~~for~~avoid 1conflicts of ~~the~~interest, 50violation ~~trusts~~of ~~at issue. DBNTC serves as trustee for~~ the ~~other~~Streit 49Act, ~~trusts at issue. Commerzbank’s second amended complaint brings claims for~~ violation of the TIA;, ~~breach~~violation of ~~contract;~~Regulation ~~breach~~AB, ofand ~~fiduciary duty; negligence;~~ violation of ~~the~~Article ~~Streit~~9 ~~Act; and breach~~ of the ~~covenant~~Uniform ofCommercial ~~good faith~~Code. ~~However,~~IKB inalleges ~~the~~that ~~second~~DBNTC ~~amended~~and ~~complaint,~~DBTCA are ~~Commerzbank~~liable ~~acknowledges~~for ~~that,~~over ~~before~~U.S. ~~DBTCA~~$268 ~~was~~million ~~added~~in todamages. On ~~the~~October ~~case~~5, ~~the~~2016, ~~court~~DBNTC ~~dismissed~~and ~~Commerzbank’s~~DBTCA, ~~TIA~~together ~~claims~~with ~~for~~several ~~the~~other ~~trusts~~trustees ~~governed~~defending lawsuits by ~~pooling and servicing agreements~~IKB, asfiled ~~well~~a asjoint ~~its~~motion ~~Streit~~to ~~Act~~dismiss. On ~~claims~~January ~~and~~6, ~~claims~~2017, ~~for~~IKB ~~breach~~filed ofa ~~the~~notice ~~covenant~~ of ~~good faith~~discontinuance, voluntarily ~~and~~dismissing ~~Commerzbank~~with ~~only~~prejudice ~~includes~~all ~~these~~ claims as to ~~preserve~~three ~~any rights on appeal~~trusts. ~~The~~As ~~second~~of ~~amended~~January ~~complaint~~17, ~~alleges~~2017, ~~that~~ DBNTC and DBTCA’s ~~caused~~motion ~~Commerzbank~~ to ~~suffer~~dismiss ~~“hundreds~~has ofbeen ~~millions~~briefed ofand ~~dollars~~is inawaiting ~~losses,”~~decision ~~but~~by the ~~complaint~~court. On ~~does~~June ~~not~~20, ~~include~~2017, athe ~~demand~~parties ~~for~~filed ~~money~~a ~~damages~~stipulation, voluntarily indismissing awith ~~sum~~prejudice ~~certain. On~~all ~~January~~claims ~~29,~~as ~~2018,~~to ~~DBNTC~~four ~~and~~additional ~~DBTCA~~trusts. Certain ~~filed~~limited andiscovery ~~answer~~is permitted to go forward while the ~~second~~motion ~~amended~~to ~~complaint. Discovery~~dismiss is ~~ongoing~~pending.

OnIt ~~December~~is ~~30,~~DBTCA’s ~~2015,~~belief ~~IKB~~that ~~International,~~it ~~S.A.~~has inno ~~Liquidation~~pending ~~and~~legal ~~IKB~~proceedings ~~Deutsche Industriebank A.G.~~ (~~collectively~~including, ~~“IKB”),~~based ason anDBTCA’s ~~investor~~present ~~in 37 RMBS trusts~~evaluation, ~~filed~~the alitigation ~~summons with notice~~ disclosed in the ~~Supreme~~five ~~Court~~immediately ofpreceding ~~the~~paragraphs) ~~State~~that ofwould ~~New~~materially ~~York,~~affect ~~New~~its ~~York~~ability ~~County,~~to ~~against~~perform ~~DBNTC~~its ~~and~~duties ~~DBTCA~~ as ~~trustees~~indenture oftrustee under the ~~trusts. On~~indenture ~~May 27, 2016, IKB served its complaint asserting claims~~ for ~~breach of contract, breach of fiduciary duty, breach of duty to avoid conflicts of interest, violation of New York’s Streit Act, violation of~~ the ~~TIA,~~Toyota ~~violation~~Auto ofReceivables ~~Regulation~~2015-C ~~AB,~~Owner ~~and~~Trust ~~violation of Article 9 of the Uniform~~transaction.

Commercial Code. IKB alleges that DBNTC and DBTCA are liable for over U.S. $268 million in damages. On October 5, 2016, DBNTC and DBTCA, together with several other trustees defending lawsuits by IKB, filed a joint motion to dismiss. On January 6, 2017, IKB filed a notice of discontinuance, voluntarily dismissing with prejudice all claims as to three trusts. As of January 17, 2017, DBNTC and DBTCA’s motion to dismiss has been briefed and is awaiting decision by the court. On June 20, 2017, the parties filed a stipulation, voluntarily dismissing with prejudice all claims as to four additional trusts. Certain limited discovery is permitted to go forward while the motion to dismiss is pending.

It is DBTCA’s belief that it has no pending legal proceedings (including, based on DBTCA’s present evaluation, the litigation disclosed in the six immediately preceding paragraphs) that would materially affect its ability to perform its duties as indenture trustee under the indenture for the Toyota Auto Receivables 2015-C Owner Trust transaction.

PART II

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

Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Item 6.	Selected Financial Data.
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk.
Item 8.	Financial Statements and Supplementary Data.
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
Item 9A.	Controls and Procedures.

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

Item 6. Selected Financial Data.

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

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

Item 8. Financial Statements and Supplementary Data.

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

Item 9A. Controls and Procedures.

Item 9B. Other Information.

Nothing to report.

PART III

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

Item 10.	Directors, Executive Officers and Corporate Governance.
Item 11.	Executive Compensation.
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
Item 13.	Certain Relationships and Related Transactions, and Director Independence.
Item 14.	Principal Accountant Fees and Services.

Item 10. Directors, Executive Officers and Corporate Governance.

Item 11. Executive Compensation.

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

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

Item 14. Principal Accounting Fees and Services.

The following substitute information is provided in accordance with General Instruction J to Form 10-K:

Item 1119 of Regulation AB. Affiliations and Certain Relationships and Related Transactions.

Information required by Item 1119 of Regulation AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119.

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

Each of TMCC and Deutsche Bank Trust Company Americas (each, a “Servicing Participant”) has been identified by the registrant as a party participating in the servicing function during the year ended December 31, ~~2017~~2018 (the “~~2017~~2018 Reporting Period”) with respect to the pool assets owned by the Trust. Each of the Servicing Participants has completed a report on an assessment of compliance with the servicing criteria applicable to such Servicing Participant (each, a “Report on Assessment”) as of December 31, ~~2017~~2018, and for the ~~2017~~2018 Reporting Period. In addition, each of the Servicing Participants has provided an attestation report (each, an “Attestation Report”) by a registered public accounting firm regarding its Report on Assessment. Each Report on Assessment and Attestation Report is attached as an exhibit to this Form 10-K.

Neither the Report on Assessment nor the Attestation Report for TMCC has identified any material instance of noncompliance with the servicing criteria described in such Report on Assessment as being applicable to TMCC.

Neither the Report on Assessment nor the Attestation Report for Deutsche Bank Trust Company Americas has identified any material instance of noncompliance with the servicing criteria described in such Report on Assessment as being applicable to Deutsche Bank Trust Company Americas.

Item 1123 of Regulation AB. Servicer Compliance Statement.

TMCC has been identified by the registrant as a servicer during the ~~2017~~2018 Reporting Period with respect to the pool assets owned by the Trust. TMCC has provided a statement of compliance for the ~~2017~~2018 Reporting Period, signed by an authorized officer, and such compliance statement is attached as an exhibit to this Form 10-K.

PART IV

Item 15. Exhibits and Financial Statement Schedules.

(a) The following documents are filed as part of this report:

(1) Not applicable.

(2) Not applicable.

(3) See Item 15(b) below.

(b) Exhibits Required by Item 601 of Regulation S-K.

Exhibit Number	Description
3.1	Certificate of Formation of Toyota Auto Finance Receivables LLC (“TAFR LLC”) (included in Exhibit 3.1 to Amendment No. 1 to Registration Statement on Form S-3 (333-159170), as filed by the registrant with the Commission on May 28, 2009, which is incorporated herein by reference).
3.2	Limited Liability Company Agreement of TAFR LLC (included in Exhibit 3.2 to Amendment No. 1 to Registration Statement on Form S-3 (333-159170), as filed by the registrant with the Commission on May 28, 2009, which is incorporated herein by reference).
4.1	Amended and Restated Trust Agreement, dated as of August 26, 2015, between TAFR LLC and Wells Fargo Delaware Trust Company, National Association, as owner trustee (included in Exhibit 4.1 to the Trust’s Form 8-K, as filed with the Commission on August 26, 2015, which is incorporated herein by reference).
4.2	Indenture, dated as of August 26, 2015, between the Trust and Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture Trustee”) and securities intermediary (included in Exhibit 4.2 to the Trust’s Form 8-K, as filed with the Commission on August 26, 2015, which is incorporated herein by reference).
4.3	Sale and Servicing Agreement, dated as of August 26, 2015, among TAFR LLC, as seller, TMCC, as servicer and sponsor, and the Trust, as issuer (included in Exhibit 4.3 to the Trust’s Form 8-K, as filed with the Commission on August 26, 2015, which is incorporated herein by reference).
4.4	Receivables Purchase Agreement, dated as of August 26, 2015, between TAFR LLC, as purchaser, and TMCC, as seller (included in Exhibit 4.4 to the Trust’s Form 8-K, as filed with the Commission on August 26, 2015, which is incorporated herein by reference).
4.5	Administration Agreement, dated as of August 26, 2015, among TMCC, as administrator, the Trust, as issuer, and the Indenture Trustee (included in Exhibit 4.5 to the Trust’s Form 8-K, as filed with the Commission on August 26, 2015, which is incorporated herein by reference).
4.6	Securities Account Control Agreement, dated as of August 26, 2015, between TAFR LLC, as pledgor, and the Indenture Trustee, as secured party (included in Exhibit 4.6 to the Trust’s Form 8-K, as filed with the Commission on August 26, 2015, which is incorporated herein by reference).
31.1*	Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated March 2821, ~~2018~~2019.
33.1*	Report on Assessment of Compliance with Servicing Criteria for Toyota Motor Credit Corporation, dated March 2821, ~~2018~~2019.
33.2*	Report on Assessment of Compliance with Servicing Criteria for Deutsche Bank National Trust Company and Deutsche Bank Trust Company Americas, dated February 28, ~~2018~~2019.
34.1*	Report of Independent Registered Public Accounting Firm of PricewaterhouseCoopers LLP on Assessment of Compliance with Servicing Criteria relating to Toyota Motor Credit Corporation, dated March 2821, ~~2018~~2019.
34.2*	Report of Independent Registered Public Accounting Firm of KPMG LLP on Assessment of Compliance with Servicing Criteria relating to Deutsche Bank National Trust Company and Deutsche Bank Trust Company Americas, dated February 28, ~~2018~~2019.
35.1*	Servicer Compliance Statement, dated March 2821, ~~2018~~2019, of Toyota Motor Credit Corporation.

_____________

* Filed herewith

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.

	Toyota Auto Finance Receivables LLC
	(Depositor)
Date: March 28, 2018	By: /s/ Wei Shi
	Wei Shi
	President, Chief Executive Officer & Chief Financial Officer
	(Senior officer in charge of securitization of the depositor)

Date: March 21, 2019

Toyota Auto Finance Receivables LLC

(Depositor)

By: /s/ Cindy Wang

Cindy Wang

President, Chief Executive Officer & Chief Financial Officer

(Senior officer in charge of securitization of the depositor)

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.

Filing Compare · Toyota Auto Receivables 2015-C Owner Trust