UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from ~~February~~ March 1, 2016 to ~~February 29~~March 31, 2016

Commission File Number of issuing entity: 333-168098-06

Central Index Key Number of issuing entity: 0001558106

TOYOTA AUTO RECEIVABLES 2012-B OWNER TRUST

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

Commission File Number of depositor: 333-188672-01

Central Index Key Number of depositor: 0001131131

TOYOTA AUTO FINANCE RECEIVABLES LLC

(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0000834071

TOYOTA MOTOR CREDIT CORPORATION

(Exact name of sponsor as specified in its charter)

Katherine Adkins, Esq., (310) 468-3401

(Name and telephone number, including area code, of the person to contact in connection with this filing)

Delaware

(State or other jurisdiction of incorporation or organization of the issuing entity)

38-7011157

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

19851 S. Western Avenue EF 12, Torrance, California 90501

(Address of principal executive offices of the issuing entity) (Zip Code)

(310) 468-7333

(Telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Registered/reporting pursuant to (check one):


Title of class	Section 12(b)	Section 12(g)	Section 15(d)	Name of exchange (If Section 12(b))
Class A-1	¨	¨	x	¨
Class A-2	¨	¨	x	¨
Class A-3	¨	¨	x	¨
Class A-4	¨	¨	x	¨
Class B	¨	¨	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 ¨

PART I – DISTRIBUTION INFORMATION

Item 1.

Distribution and Pool Performance Information.

Distribution and pool performance information with respect to the receivables that constitute the assets of Toyota Auto Receivables 2012-B Owner Trust for the distribution period commencing on ~~February~~ March 1, 2016 and ending on ~~February 29~~March 31, 2016 is set forth in the Monthly Servicer’s Certificate that is attached to this report as Exhibit 99.1, which Certificate is incorporated by reference herein.

PART II – OTHER INFORMATION

Item 2.

Legal Proceedings.

The following 34 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 2012-B Owner Trust transaction.

DBTCA has been named as a defendant in civil litigation concerning its role as trustee of certain residential mortgage backed securities (“RMBS”) trusts. On June 18, 2014, a group of investors, ~~(“Plaintiff~~including ~~Investors”)~~funds managed by Blackrock Advisors, LLC, PIMCO-Advisors, L.P., and others, filed a ~~civil~~derivative action against DBTCA and Deutsche Bank National Trust Company (“DBNTC”) in New York State Supreme Court purportedly on behalf of and for the benefit of 544 private-label RMBS trusts asserting claims for alleged violations of the U.S. Trust Indenture Act of 1939, breach of contract, breach of fiduciary duty and negligence based on ~~DBTCA~~DBNTC’s and ~~DBNTC~~DBTCA’s alleged failure to perform their ~~obligations~~ duties as trustees for the trusts. Plaintiffs ~~(the~~subsequently ~~“NY~~dismissed ~~Derivative~~their ~~Action”). An~~state ~~amended~~court complaint ~~was~~and filed ona ~~July 16,~~derivative ~~2014, adding Plaintiff Investors~~ and ~~RMBS~~class ~~trusts~~action tocomplaint in the ~~NY Derivative Action~~U. OnS. ~~November 24,~~District ~~2014,~~Court ~~the~~for ~~Plaintiff Investors moved to voluntarily dismiss~~ the NYSouthern ~~Derivative~~District ~~Action~~of ~~without~~New ~~prejudice. Also~~York on ~~November 24,~~behalf ~~2014, substantially the same group~~ of ~~Plaintiff Investors filed a civil action against DBTCA~~ and ~~DBNTC in the United States District Court~~ for the ~~Southern~~benefit ~~District~~ of ~~New~~564 ~~York~~private-label RMBS trusts (the “SDNY Action”), ~~making~~which substantially ~~the~~overlapped ~~same~~with ~~allegations as~~ the ~~New York Derivative Action with respect to 564 RMBS~~ trusts ~~(542 of which were~~ at issue in the NYstate ~~Derivative~~court ~~Action)~~action. The ~~SDNY~~complaint ~~Action~~alleges isthat ~~styled~~the trusts ~~both~~at asissue ahave ~~derivative~~suffered ~~action~~total onrealized ~~behalf~~collateral losses of ~~the~~U.S. ~~named~~$89.4 ~~RMBS trusts and~~billion, inbut the ~~alternative,~~complaint asdoes not include a ~~putative~~demand ~~class~~for ~~action~~money ondamages ~~behalf~~in ofa ~~holders~~sum ofcertain. DBNTC ~~RMBS~~and ~~representing~~DBTCA ~~interests~~filed ina ~~those~~motion ~~RMBS~~to ~~trusts. On~~dismiss, and on January 19, 2016, the court partially ~~overseeing the SDNY Action~~ granted ~~in part~~ the ~~defendants’~~ motion ~~to dismiss~~ on procedural grounds: as to the 500 trusts that are governed by pooling and servicing agreements, the court declined to exercise jurisdiction. The court did not rule on substantive defenses asserted in ~~defendants’~~the motion to dismiss as to the 64 trusts formed under indentures for which it retained jurisdiction. ~~The~~Instead, the court ~~further~~ ordered plaintiffs to file an amended complaint ~~consistent with its ruling~~ as to ~~the~~those ~~remaining 64~~ trusts ~~governed by indentures~~. On February 23, 2016, plaintiffs filed an amended complaint as to 62 of the 64 indenture trusts included in the ~~SDNY~~original ~~Action~~U.S. District Court complaint. DBNTC and DBTCA will have an opportunity to file new defensive motions with respect to this amended complaint. DBTCA intends to continue to vigorously defend the SDNY Action. It is anticipated that plaintiffs will, in the near future, file a new state court complaint as to some or all of the 500 trusts governed by pooling and servicing agreements which were dismissed from the SDNY Action.

On March 25, 2016, plaintiffs filed a new state court complaint in California against DBTCA as to 513 trusts governed by pooling and servicing agreements, most of which had been dismissed from the U.S. District Court action. Plaintiffs removed 19 of the original 500 and added 32 new trusts. DBTCA serves as trustee on only one of these 513 trusts.

On December 30, 2015, IKB International, S.A. and IKB Deutsche Industriebank A.G. filed a Summons With Notice in New York state court naming as defendants DBNTC and DBTCA, as trustees of 37 RMBS trusts (the “IKB Action”). DBTCA believes the claims in the IKB Action to be substantively similar to the SDNY Action. The IKB Action is not styled as a putative class action, but the plaintiffs may attempt to bring derivative claims on behalf of the named RMBS trusts. DBTCA intends to vigorously defend the IKB Action.

It is DBTCA’s belief that it has no pending legal proceedings (including, based on DBTCA’s present evaluation, the litigation disclosed in the ~~two~~ three immediately preceding paragraphs) that would materially affect its ability to perform its duties as indenture trustee.

Item 9.

Other Information.

There is no activity to report under Rule 15Ga-1(a) under the Securities Exchange Act of 1934 with respect to Toyota Auto Receivables 2012-B Owner Trust for the distribution period commencing on ~~February~~ March 1, 2016 and ending on ~~February 29~~March 31, 2016. Toyota Motor Credit Corporation (Central Index Key Number: 0000834071), as securitizer, most recently filed a Form ABS-15G on February 11, 2016 with respect to all asset-backed securities sponsored by it, including those securities issued by Toyota Auto Receivables 2012-B Owner Trust.

Item 10.

Exhibits.

Exhibit 99.1. Monthly Servicer’s Certificate for the distribution period commencing on ~~February~~March 1, 2016 and ending on ~~February~~March 2931, 2016.

Pursuant to the requirements 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 Receivables 2012-B Owner Trust (Issuing entity)
	By:	Toyota Motor Credit Corporation.
		(not in its individual capacity, but solely as Servicer on behalf of the Issuing entity)
Date: March 17, 2016		/s/ Chris Ballinger
Date: April 29, 2016		/s/ Chris Ballinger
		Chris Ballinger
		Senior Vice President and
		Chief Financial Officer

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