WOODWARD VARIABLE ANNUITY FUND
485APOS, 1996-08-08
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     As filed with the Securities and Exchange Commission on August 8, 1996

                      Registration No. 33-86186/811-8854
- ------------------------------------------------------------------------------

                      SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC 20549

                                   FORM N-1A

          REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 /X/

                        POST-EFFECTIVE AMENDMENT NO. 4

                                      and

      REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 /X/

                                AMENDMENT NO. 3

                      THE WOODWARD VARIABLE ANNUITY FUND

              (Exact Name of Registrant as Specified in Charter)

                                 c/o NBD Bank
                                900 Tower Drive
                                 P.O. Box 7058
                           Troy, Michigan 48007-7058

                   (Address of Principal Executive Offices)

                        Registrant's Telephone Number:
                                (313) 259-0729

                            W. Bruce McConnel, III
                            DRINKER BIDDLE & REATH
                             1345 Chestnut Street
                     Philadelphia, Pennsylvania 19107-3496
                    (Name and Address of Agent for Service)

It is proposed that this filing will become effective (check appropriate box):

        [ ] immediately upon filing pursuant to paragraph (b)

        [ ] on (date) pursuant to paragraph (b)

        [x] 60 days after filing pursuant to paragraph (a)(1)

        [ ] on (date) pursuant to paragraph (a)(1)

        [ ] 75 days after filing pursuant to paragraph (a)(2)

        [ ] on (date) pursuant to paragraph (a)(2) of rule 485.

If appropriate, check the following box:

        [x] this post-effective amendment designates a new effective date for
a previously filed post-effective amendment.


                                      -1-


<PAGE>


Registrant has previously registered an indefinite number of its shares of
beneficial interest, including shares of Series A, B, C, D and E under the
Securities Act of 1933 pursuant to Rule 24f-2 under the Investment Company Act
of 1940. Registrant's Rule 24f-2 Notice with respect to Series A, B, C, D and
E for the fiscal year ending December 31, 1995 was filed on February 29,
1996.



                                      -2-
<PAGE>


     The purpose of this Post-Effective Amendment No. 4 to the Registrant's
Registration Statement on Form N-1A is to toll the effectiveness of Post-
Effective Amendment No. 3 to the Registrant's Registration Statement on
Form N-1A ("Post-Effective Amendment No. 3") as filed pursuant to Rule
485(a) with the Securities and Exchange Commission on June 10, 1996 and
which has not yet become effective. Pursuant thereto, Post-Effective
Amendment No. 3, including the prospectus and statement of additional
information included therein, is incorporated herein in its entirety.



                                      -3-
<PAGE>

                                  SIGNATURES


               Pursuant to the requirements of the Securities Act of 1933 and
the Investment Company Act of 1940, the Registrant has caused this Amendment 
to its Registration Statement to be signed on its behalf by the undersigned, 
thereunto duly authorized, in the City of Detroit, State of Michigan, on the 
8th day of August, 1996.


                      THE WOODWARD VARIABLE ANNUITY FUND
                                  Registrant

                             * Earl I. Heenan, Jr.
                             ---------------------
                              Earl I. Heenan, Jr.
                                   President

               Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed below by the following persons in
the capacities and on the dates indicated.

    Signatures                          Title                   Date
    ----------                          -----                   ----


/s/ Earl I. Heenan, Jr.
- -------------------------
Earl I. Heenan, Jr.                    President            August 8, 1996

/s/ Eugene C. Yehle
- -------------------------
Eugene C. Yehle                        Treasurer            August 8, 1996

/s/ Will M. Caldwell
- -------------------------
Will M. Caldwell                       Trustee              August 8, 1996

/s/ Julius L. Pallone
- -------------------------
Julius L. Pallone                      Trustee              August 8, 1996

/s/ Nicholas J. De Grazia
- -------------------------
Nicholas J. De Grazia                  Trustee              August 8, 1996

/s/ Donald G. Sutherland
- -------------------------
Donald G. Sutherland                   Trustee              August 8, 1996

/s/ Donald L. Tuttle
- -------------------------
Donald L. Tuttle                       Trustee              August 8, 1996

/s/ John P. Gould
- -------------------------
John P. Gould                          Trustee              August 8, 1996

/s/ Marilyn McCoy
- -------------------------
Marilyn McCoy                          Trustee              August 8, 1996



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