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FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
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Report for six month period ending: / / (a)
or fiscal year ending: 12 / 31 / 97 (b)
Is this a transition report? (Y/N): __N__
Y/N
Is this an amendment to a previous filing? (Y/N): __N__
Y/N
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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: American Benefit Variable Annuity Account
B. File Number: 811 - 5422
C. Telephone Number: (518) 456-8164
2. A. Street: 421 New Karner Road
B. City: Albany C. State: NY D. Zip Code: 12205 Zip Ext:
E. Foreign Country Foreign Postal Code:
3. Is this the first filing on this form by Registrant? (Y/N)------------------------- __N__
Y/N
4. Is this the last filing on this form by Registrant? (Y/N)-------------------------- __N__
Y/N
5. Is Registrant a small business investment company (SBIC)? (Y/N)-------------------- __N__
[If answer is "Y" (Yes), complete only items 89 through 110.] Y/N
6. Is Registrant a unit investment trust (UIT)? (Y/N)--------------------------------- __Y__
[If answer is "Y" (Yes), complete only items 111 through 132.] Y/N
7. A. Is Registrant a series or multiple portfolio company? (Y/N)--------------------- _____
[If answer is "N" (No), go to item 8.] Y/N
B. How many separate series or portfolios did Registrant have at the end of the
period?---------------------------------------------------------------------------- _____
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For period ending: 12/31/97 If filing more than one
Page 47, "X" box: _____
File number: 811 - 5422
UNIT INVESTMENT TRUSTS
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111. A. |_/_| Depositor Name:
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B. |_/_| File Number (If any):
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C. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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111. A. |_/_| Depositor Name:
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B. |_/_| File Number (If any):
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C. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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112. A. |_/_| Sponsor Name:
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B. |_/_| File Number (If any):
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C. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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112. A. |_/_| Sponsor Name:
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B. |_/_| File Number (If any):
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C. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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For period ending: 12/31/97 If filing more than one
Page 48, "X" box: _____
File number: 811 - 5422
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113. A. |_/_| Trustee Name:
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B. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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113. A. |_/_| Sponsor Name:
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B. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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114. A. |_/_| Principal Underwriter Name:
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B. |_/_| File Number: 8 -
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C. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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114. A. |_/_| Principal Underwriter Name:
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B. |_/_| File Number: 8 -
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C. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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115. A. |_/_| Independent Public Accountant Name:
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B. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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115. A. |_/_| Independent Public Accountant Name:
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B. |_/_| City: State: Zip Code: Zip Ext:
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|_/_| Foreign Country: Foreign Postal Code:
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For period ending: 12/31/97 If filing more than one
Page 49, "X" box: _____
File number: 811 - 5422
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116. Family of investment companies information:
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A. |_/_| Is Registrant part of a family of investment companies? (Y/N)--------------------- ______
___ Y/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.)
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117. A. |_/_| Is Registrant a separate account of an insurance company? (Y/N)------------------- ______
Y/N
If answer is "Y" (Yes), are any of the following types of contracts funded by the Registrant?:
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B. |_/_| Variable annuity contracts? (Y/N)------------------------------------------------- ______
___ Y/N
C. |_/_| Scheduled premium variable life contracts? (Y/N)---------------------------------- ______
___ Y/N
D. |_/_| Flexible premium variable life contracts? (Y/N)----------------------------------- ______
___ Y/N
E. |_/_| Other types of insurance products registered under the Securities Act of
1933? (Y/N)----------------------------------------------------------------------- ______
___ Y/N
118. |_/_| State the number of series existing at the end of the period that had securities
registered under the Securities Act of 1933-------------------------------------------- ______
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119. |_/_| State the number of new series for which registration statements under the
Securities Act of 1933 became effective during the period------------------------------ ______
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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)-------------------------------------- $______
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121. |_/_| State the number of series for which a current prospectus was in existence
at the end of the period-------------------------------------------------------------- ______
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122. |_/_| State the number of existing series for which additional units were registered
under the Securities Act of 1933 during the period------------------------------------ ______
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For period ending: 12/31/97 If filing more than one
Page 50, "X" box: X
File number: 811 - 5422 -----
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123. |_/_| State the total value of the additional units considered in answering item 122
($000's omitted)--------------------------------------------------------------------- $
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124. |_/_| State the 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)---- $
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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)------------------ $
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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)------------------------------------------------- $ -0-
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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):
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Number of Total Assets Total Income
Series (000's Distributions
Investing omitted) ($000's omitted)
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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------------------ ________ $_______ $____________
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For period ending: 12/31/97 If filing more than one
Page 50, "X" box: _____
File number: 811 - 5422
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H. Equity securities of brokers or dealers
or parents of brokers or dealers-------------------- $ $
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I. Investment company equity securities---------------- $ $
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J. All other equity securities------------------------- 1 $2,778 $70
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K. Other securities------------------------------------ $ $
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L. Total assets of all series of registrant------------ 1 $2,778 $70
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For period ending: 12/31/97 If filing more than one
Page 51, "X" box: _____
File number: 811 - 5422
<S> <C> <C> <C>
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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)--------------------------------------------- -------
[If answer is "N" (No), go to item 131.] Y/N
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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 answer is "N" (No), go to item 131.] Y/N
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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)--------------------------------------------------------------- $ 46
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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 - _____
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This report is signed on behalf of the registrant (or depositor or trustee).
City of: State: Date:
Boston Massachusetts 02/20/98
Name of Registrant, Depositor, or Trustee:
American Benefit Variable Annuity Account
By (Name and Title): Witness (Name and Title):
/s/ Jeff Whitehead /s/ James J. Klopper
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Jeff Whitehead James J. Klopper
Vice President and Treasurer Vice President and Secretary
