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As filed with the Securities and Exchange Commission on March 2, 1998.
U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC File Nos.: 333-03093
and 811-07615
CUSIP No.: None
(Check One):
[_] Form 10-K [_] Form 20-F [_] Form 11-K [_] Form 10-Q [X] Form N-SAR
For Period Ended: December 31, 1997
[_] Transition Report on Form 10-K
[_] Transition Report on Form 20-F
[_] Transition Report on Form 11-K
[_] Transition Report on Form 10-Q
[_] Transition Report on Form N-SAR
For the Transition Period Ended:
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NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY
THAT THE COMMISSION HAS VERIFIED ANY INFORMATION CONTAINED HEREIN.
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PART I -- Registrant Information
Full Name of Registrant: Rydex Advisor Variable Annuity Account
Address of Principal Executive Office: 11815 North Pennsylvania Street
Carmel, Indiana 46032
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PART II -- Rules 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate.)
X (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
X (b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, Form 11-K, Form N-SAR, or portion thereof,
will be filed on or before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report or transition
report on Form 10-Q, or portion thereof, will be filed on or before
the fifth calendar day following the prescribed due date; and
__ (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached, if applicable.
PART III -- Narrative
State below in reasonable detail the reasons why the Form 10-K, and Form 10-KSB,
Form 20-F, Form 11-K, Form 10-Q, and Form 10-QSB, Form N-SAR, or the transition
report, or portion thereof, could not be filed within the prescribed period.
Two weeks ago, after discussion with the staff of the Securities and Exchange
Commission (the "Commission"), the registrant was required to expand
significantly the manner in which the financial highlights are presented in the
prospectus for three of the registrant's subaccounts whose asset levels during
certain periods for the registrant's most-recent fiscal year were zero.
Specifically, at the instruction of the Commission staff, the financial
highlights for these three subaccounts, for the registrant's most-recent fiscal
year, are being divided into multiple periods, rather than one continuous
period, to reflect more accurately each of these subaccount's active periods of
operations within a traditional reporting period. This is an unusual format for
which more time is needed to develop the appropriate methodology for the Form
N-SAR.
PART IV -- Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Carl G. Verboncoeur (301) 468-8549
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(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months (or for such
shorter) period that the registrant was required to file such reports)
been filed? If the answer is no, identify report(s).
[X] Yes [_] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject
report or portion thereof?
[_] Yes [X] No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons
why a reasonable estimate of the results cannot be made.
Rydex Advisor Variable Annuity Account has caused this notification to be signed
on its behalf by the undersigned hereunto duly authorized.
Date: February 27, 1998 By: /s/ Carl G. Verboncoeur
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Carl G. Verboncoeur
Vice President of Operations and Treasurer
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