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FORM N-SAR
ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: ____/____/____ (a)
or fiscal year ending: 12 / 31 / 98 (b)
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Is this a transition report? (Y/N) N
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Is this an amendment to a previous filing? (Y/N) Y
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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: PFL Variable Annuity Fund II
B. File Number: 811- 02411
C. Telephone Number: 319-297-8121
2. A. Street: 4333 Edgewood Road N.E.
B. City: Cedar Rapids C. State: IA D. Zip Code: 52499 Zip Ext: 0001
E. Foreign Country: Foreign Postal Code:
3. Is this the first filing on this form by Registrant? (Y/N) N
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4. Is this the last filing on this form by Registrant? (Y/N) N
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5. Is Registrant a small business investment company (SBIC)? (Y/N) N
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[If answer is "Y" (Yes), complete only items 89 through 110.]
6. Is Registrant a unit investment trust (UIT)? (Y/N) Y
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[If answer if "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?_____________________________________________________________
01
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If filing more than one
Page 48, "X" box: [_]
For period ending 12/31/98
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File number 811- 02411
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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: AFSG Securities Corporation
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B. [_] File Number 8- 36562
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C. [_] City: Cedar Rapids State: LA Zip Code: 52499 Zip Ext.: 0001
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[_] 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:________________________________
B. [_] City:______________ State:_________ Zip Code:_______ 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:___________
48
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If filing more than one
Page 50, "X" box: [_]
For period ending 12/31/98
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File number 811- 02411
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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 portfolios 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
the 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):______________________________________________________ $_______
<TABLE>
<CAPTION>
Number Total Assets Total Income
of Series ($000's Distributions
Investing omitted) ($000's omitted)
--------- -------- ----------------
<S> <C> <C> <C>
A. U.S. Treasury direct issue _________ $____________ $_______________
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 1 $708 $77
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K. Other securities _________ $____________ $_______________
L. Total assets of all series of registrant _________ $____________ $_______________
</TABLE>
50
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If filing more than one
Page 51, "X" box: [_]
For period ending 12/31/98
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File number 811- 02411
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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)________________________________
Y/N
[If 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)______________________
Y/N
[If 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)__________________
Y/N
131. [_] Total expenses incurred by all series of Registrant
during the current reporting period ($000's omitted)___________ $ 5
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132. [_] 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- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
811- 811- 811- 811- 811-
51
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FORM N-SAR - PFL VARIABLE ANNUITY FUND II,
A SEPARATE ACCOUNT OF AUSA LIFE INSURANCE COMPANY
FILE NO. 811- 02411
This report is signed on behalf of the registrant in the City of Cedar Rapids
and the State of Iowa on the 16th day of February, 1999.
PFL LIFE INSURANCE COMPANY
By: /s/ Ronald L. Ziegler
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Ronald L. Ziegler
Vice President and Actuary
Witness:
/s/ Frank A. Camp
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Frank A. Camp
Division General Counsel
Financial Markets Division
PFL Life Insurance Company