FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: / / (a)
or fiscal year ending: 12/31/96 (b)
Is this an amendment to a previous filing? (Y/N): N
Those items or sub-items with a box "|_|" after the item number should be
completed only if the answer has changed from the previous filing on this form.
1. A. Registrant Name: Valley Forge Life Insurance Company Variable
Annuity Separate Account
B. File Number: 811- 7547
C. Telephone Number: (312) 822-5000
2. A. Street: 333 S. Wabash
B. City: Chicago C. State: IL D. Zip Code: 60685 Zip Ext.:
E. Foreign Country: Foreign Postal Code:
3. Is this the first filing on this form by Registrant? (Y/N) Y
-
4. Is this the last filing on this form by Registrant? (Y/N) N
-
5. Is Registrant a small business investment company (SBIC)? (Y/N) N
(If answer is "Y" (Yes), complete only items 89 through 110.)
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
(If answer is "Y" (Yes), complete only items 111 through 132.)
7. A. Is Registrant a series or multiple portfolio company? (Y/N)
(If answer is "N" (No), go to item 8.)
B. How many separate series or portfolios did Registrant have at the
end of the period?
PAGE NUMBER: 1
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For period ending 12/31/96 If filing more than one
File number 811-7547 Page 43, "X" box |_|
UNIT INVESTMENT TRUSTS
111. A. |_| Depositor Name: Valley Forge Life Insurance Company
B. |_| File Number (if any):
C. |_| City: Chicago State: IL Zip Code: 60685 Zip Ext.:
Foreign Country: Foreign Postal Code:
111. A. |_| Depositor Name:
B. |_| File Number (if any):
C. |_| City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
112. A. |_| Sponsor Name:
B. |_| File Number (if any):
C. |_| City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
112. A. |_| Sponsor Name:
B. |_| File Number (if any):
C. |_| City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
PAGE NUMBER: 43
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For period ending 12 /31/96 If filing more than one
File number 811-7547 Page 44, "X" box |_|
113. A. |_| Trustee Name:
B. |_| City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
113. A. |_| Trustee Name:
B. |_| City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
114. A. |_| Principal Underwriter Name: CNA Investors Services, Inc.
B. |_| File Number: 8- 13023
C. |_| City: Chicago State: IL Zip Code: 60685 Zip Ext.:
Foreign Country: Foreign Postal Code:
114. A. |_| Principal Underwriter Name:
B. |_| File Number: 8-
C. |_| City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
115. A. |_| Independent Public Accountant Name: Deloitte & Touche LLP
B. |_| City: Chicago State: IL Zip Code: 60601 Zip Ext.:
Foreign Country: Foreign Postal Code:
115. A. |_| Independent Public Accountant Name:
B. |_| City: State: Zip Code: Zip Ext.:
Foreign Country: Foreign Postal Code:
PAGE NUMBER: 44
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For period ending 12/31/96 If filing more than one
File number 811-7547 Page 45, "X" box |_|
116. Family of investment companies information:
A: |_| Is Registrant part of a family of investment companies?(Y/N) N
B. |_| Identify the family in 10 letters: _ _ _ _ _ _ _ _ _ _
(NOTE: In filing this form, use this identification consistently for all
investment companies in family. This designation is for purposes of this form
only.)
117. A. |_| Is Registrant a separate account of an insurance company?(Y/N)Y
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If answer is "Y" (Yes), are any of the following types of
contracts funded by the Registrant:
B. |_| Variable annuity contracts? (Y/N) Y
C. |_| Scheduled premium variable life contracts? (Y/N) N
D. |_| Flexible premium variable life contracts? (Y/N) N
E. |_| Other types of insurance products registered under the
Securities Act of 1933? (Y/N) N
118. |_| State the number of series existing at the end of the period that
had securities registered under the Securities Act of 1933 18
119. |_| State the number of new series for which registration statements
under the Securities Act of 1933 became effective during the period 18
120. |_| State the total value of the portfolio securities on the date of
deposit for the new series included in Item 119 ($000's omitted) 0
121. |_| State the number of series for which a current prospectus was in
existence at the end of the period 18
122. |_| State the number of existing series for which additional units
were registered under the Securities Act of 1933 during the current period 0
PAGE NUMBER: 45
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For period ending 12/31/96 If filing more than one
File number 811-7547 Page 46, "X" box |_|
123. |_| State the total value of the additional units considered in
answering item 122 ($000's omitted)
124. |_| State the total value of units of prior series that were placed
in the portfolio of subsequent series during the current period (the value of
these units is to be measured on the date they were placed in the subsequent
series) ($000's omitted) __
125. |_| State the total dollar amount of sales loads collected (before
reallowances to other brokers or dealers) by Registrant's principal underwriter
and any underwriter which is an affiliated person of the principal underwriter
during the current period solely from the sale of units of all series of
Registrant ($000's omitted) __ 126. Of the amount shown in item 125, state the
total dollar amount of sales loads collected from secondary market operations in
Registrant's units (include the sales loads, if any, collected on units of a
prior series placed in the portfolio of a subsequent series.) ($000's omitted)
__
127. List opposite the appropriate description below the number of series whose
portfolios are invested primarily (based upon a percentage of NAV) in each type
of security shown, the aggregate total assets at market value as of a date at or
near the end of the current period of each such group of series and the total
income distributions made by each such group of series during the current period
(excluding distributions of realized gains, if any):
Number of Series Total Assets Total Income
Investing ($000's)Distributions
($000's)
A. U.S. Treasury direct issues.................. $ $
B. U.S. Government agency....................
C. State and municipal tax-free................
D. Public utility debt.................................
E. Brokers or dealers debt or debt of
brokers' or dealers' parent............
F. All other corporate intermed. &
long-term debt...............................
G. All other corporate short-term debt......
H. Equity securities of brokers or dealers
or parents of brokers or dealers.....
I. Investment company equity securities...
J. All other equity securities........................
K. Other securities....................................
L. Total assets of all series of Registrant... $0
PAGE NUMBER: 46
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For period ending 12/31/96 If filing more than one
File number 811-7547 Page 47, "X" box |_|
128. |_| Is the timely payment of principal and interest on any of the
portfolio securities held by any of Registrant's series at the end of the
current period insured or guaranteed by an entity other than the issuer? (Y/N) N
(If the answer is "N" (No), go to item 131.)
129. |_| Is the issuer of any instrument covered in item 128 delinquent
or in default as to payment of principal or interest at the end of the current
period? (Y/N) __
(If the answer is "N" (No), go to item 131.)
130. |_| In computations of NAV or offering price per unit, is any part
of the value attributed to instruments identified in item 129 derived from
insurance or guarantees? (Y/N) __
131. Total expenses incurred by all series of Registrant during the current
reporting period ($000's omitted) 0
129. |_| List the "811" (Investment Company Act of 1940) registration
number for all Series of Registrant that are being included in this filing:
811-____
811-____
811-____
811-____
PAGE NUMBER: 47
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For period ending 12/31/96
File number 811-7547
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City of: Chicago State of: Illinois Date:
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Name of Registrant, Depositor or Trustee:
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Valley Forge Life Insurance Company Variable Annuity Separate Account
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By (Name and Title): S/PATRICIA L. KUBERA
Patricia L. Kubera
Group Vice-President & Controller
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