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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24F-2
Read Instructions at end of Form before preparing Form.
Please Print or Type
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1. Name and address of issuer:
FNAL Variable Account
555 Theodore Fremd Avenue, Suite C-209
Rye, NY 10580
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2. Name of each series or class of funds for which this notice is filed:
Variable insurance contracts
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3. Investment Company Act File Number: 811-6584
Securities Act File Number: 33-46217, 33-79112
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4. Last day of fiscal year for which this notice is filed: December 31, 1996
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5. Check box if this notice is being filed more than 180 days after the close of
the issuer's fiscal year for purposes of reporting securities sold after the
close of the year but before termination of the issuer's 24F-2 declaration:
Not Applicable / /
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6. Date of termination of issuer's declaration under rule 24F-2(a)(1), if
applicable (see Instruction A.6):
Not Applicable
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7. Number and Amount of securities of the same class or series which had been
registered under the Securities Act of 1933 other than pursuant to rule 24F-2 in
a prior fiscal year, but which remained unsold at the beginning of the fiscal
year:
None
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8. Number and amount of securities registered during the fiscal year other than
pursuant to rule 24f-2:
None
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9. Number and aggregate sale price of securities sold during the fiscal year:
8,337,886 $118,564,742
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10. Number and aggregate sale price of securities sold during the fiscal year in
reliance upon registration pursuant to rule 24F-2:
8,337,886 $118,564,742
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11. Number and aggregate sale price of securities issued during the fiscal year
in connection with dividend reinvestment plans, if applicable (See Instruction
B.7):
1,012,175 $14,393,125
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12. Calculation of registration fee:
(i) Aggregate sale price of securities sold $ 118,564,742
during the fiscal year in reliance on rule -------------
24F-2 (From Item 10):
(ii) Aggregate price of shares issued in + 14,393,125
connection with dividend reinvestment plans -------------
(from Item 11, if applicable):
(iii) Aggregate price of shares redeemed or - 17,091,296
repurchased during fiscal year (if applicable): -------------
(iv) Aggregate price of shares redeemed or + 0
repurchased and previously applied as a -------------
reduction to filing fees pursuant to rule
24e-2 (if applicable):
(v) Net aggregate price of securities sold and 115,866,571
issued during the fiscal year in reliance on -------------
rule 24f-2 [line (i), plus line (ii), less
line (iii), plus line (iv)] if applicable:
(vi) Multiplier prescribed by Section 6(b) of x 1/3300
the Securities Act of 1933 or other applicable -------------
law or regulation (See instruction C.6):
(vii) Fee due [line (i) or line (v) multiplied $ 35,108
by line (vi)]: -------------
Instruction: Issuers should complete line (ii), (iii), (iv), and (v) only if
the form is being filed within 60 days after the close of the
issuer's fiscal year. See Instruction C.3
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13. Check box if fees are being remitted to the Commission's lockbox depository
as described in section 3a of the Commission's Rules of Informal and Other
Procedures (17CFR 202.3a): /x/ *
Date of mailing or wire transfer of filing fees to the Commission's lockbox
depository: February 26, 1997
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SIGNATURES
This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
FNAL Variable Account
(Registrant)
By: First North American Life Assurance Company
(Depositor)
By: (Signature and Title) /s/ RICHARD C. HIRTLE
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Richard C. Hirtle
Vice President & Treasurer
Date: February 26 1997
* Fee paid with Rule 24f-2 Filing for Securities Act File Number 33-46217. This
fee also covers the Rule 24f-2 filing for the fiscal year ended December 31,
1996 for Securities Act File Number 33-79112.
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February 26, 1997
The Board of Directors
First North American Life Assurance Company
Dear Directors:
This opinion is written in reference to individual flexible purchase payment
deferred variable annuity contracts (the "Contracts") issued through the FNAL
Variable Account by First North American Life Assurance Company (the "Company")
and covered by the Rule 24f-2 Notice dated February 26, 1997 to be filed with
the Securities and Exchange Commission. I have examined such documents, reviewed
such questions of law, and received such certification of facts by a Company
officer as I deemed necessary for the purposes of this opinion. On the basis of
such examination, review and certification, I advise you that in my opinion the
Contracts covered by the Rule 24f-2 Notice were legally issued and are binding
obligations of the Company.
I hereby consent to the filing of this letter with the Rule 24f-2 Notice.
Very truly yours,
/s/ BETSY ANNE SEEL
Betsy Seel
Counsel
