FORM 10-K

 UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 WASHINGTON, D.C. 20549

 FORM 10-K

 (Mark One)

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For fiscal year ended December 31, 2024

 OR

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the transition period from to

 Commission File
Number of Issuing Entity: 333-265964

 Central Index Key of Issuing Entity: 0001396730

 FIRST NATIONAL MASTER NOTE TRUST

 (Exact name of Issuing Entity as specified in its charter)

 Commission File Number of Depositor: 333-231191-01

Central Index Key of Depositor: 0001171040

 FIRST NATIONAL FUNDING LLC

 (Exact name of Depositor as specified in its charter)

 Central Index Key of Sponsor: 0000036644

 FIRST NATIONAL BANK OF OMAHA

(Exact name of Sponsor as specified in its charter)

 Nebraska

 Not
 Applicable

 (State or other
 jurisdiction of incorporation or organization of

 (IRS Employer
 Identification No. of Issuing

 Issuing Entity)

 Entity)

 1620
 Dodge Street, Stop Code 3201, Omaha, Nebraska

 68197

 (Address
 of principal executive offices of Issuing Entity)

 (Zip
 Code)

 (402) 341-0500

 (Issuing Entity's telephone number, including area
code)

 Securities Registered
Pursuant to Section 12(b) of the Act:

 None

 Securities Registered
Pursuant to Section 12(g) of the Act:

 None

 Title of Each Class

 Indicate by check mark if the registrant is a
well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES NO

 Indicate by check mark if the registrant is
not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES NO

(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days. YES NO

has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405
of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YES NO

 Indicate by check mark if disclosure of delinquent
filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to
the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K.

is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange
Act. (Check one):

 Large
 accelerated filer

 Accelerated filer

 Non-accelerated
 filer

 Smaller reporting company

 Emerging
 Growth Company

 If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.

has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared
or issued its audit report.

is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES NO

 State the aggregate market value of the voting
and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the
average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second
fiscal quarter.

 Registrant does not have any voting or non-voting
common equity held by non-affiliates as of the date of this report, has not been involved in bankruptcy proceedings during the past five
years and is not a corporate registrant.

 DOCUMENTS INCORPORATED BY REFERENCE

 No documents have been incorporated by reference into this Form 10-K.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J TO FORM 10-K:

 (A)
 Item 1:

 Business

 (B)
 Item 1A:

 Risk Factors

 (C)
 Item 1C:

 Cybersecurity

 (D)
 Item 2:

 Properties

 (E)
 Item 3:

 Legal Proceedings

 Item 1B. Unresolved Staff Comments.

 Not Applicable.

 Item 4. Mine Safety Disclosures

 Not Applicable.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J TO FORM 10-K:

 (F)
 Item 5:

 Market for the Registrant's Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities

 (G)
 Item 6:

 Selected Financial Data

 (H)
 Item 7:

 Management's
Discussion and Analysis of Financial Condition and Results of Operation

 (I)
 Item 7A:

 Quantitative and Qualitative Disclosures About Market Risk

 (J)
 Item 8:

 Financial Statements and Supplementary Data

 (K)
 Item 9:

 Changes in and Disagreements With Accountants on Accounting
and Financial Disclosure

 (L)
 Item 9A:

 Controls and Procedures

 Item 9B. Other Information.

 None.

 Item 9C. Disclosure Regarding Foreign Jurisdiction that Prevent
Inspections.

 Not applicable.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J TO FORM 10-K:

 (M)
 Item 10:

 Directors, Executive Officers and Corporate Governance

 (N)
 Item 11:

 Executive Compensation

 (O)
 Item 12:

 Security Ownership of Certain Beneficial Owners and Management
and Related Stockholder Matters

 (P)
 Item 13:

 Certain Relationships and Related Transactions, and Director
Independence

 (Q)
 Item 14:

 Principal Accountant Fees and Services

 Item 15. Exhibits and Financial Statement Schedules.

 a)
 Listed below are the documents filed as part of this report:

 1)
 Financial Statements. None. In accordance with General Instruction J to Form 10-K, the Financial Statements required by Item
8 of Form 10-K have been omitted.

 2)
 Financial Schedules. None. In accordance with General Instruction J to Form 10-K, any Financial Schedules required by Item 8
of Form 10-K have been omitted.

 3)
 Exhibits. See Item 15(b) below.

 b)
 The exhibits listed on the Exhibit Index are filed as part
of, or incorporated by reference into, this report on Form 10-K.

 c)
 See Item 15(a) above.

 Item 16. Form 10 – K Summary

 None.

 SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION
J TO FORM 10-K:

 Item 1112(b) of Regulation AB. Significant Obligors of Pool
Assets (Financial Information).

 Not applicable.

 Item 1114(b)(2) of Regulation AB. Credit Enhancement and Other
Support, Except for Certain Derivatives Instruments (Financial Information Regarding Significant Enhancement Providers).

 Not applicable.

 Item 1115(b) of Regulation AB. Certain Derivatives Instruments
(Financial Information).

 Not applicable.

 Item 1117 of Regulation AB. Legal Proceedings.

 In re: Payment Card Fee and Merchant Discount Antitrust Litigation

 Beginning in June 2005, several retail merchants
filed lawsuits in federal courts, claiming to represent a class of similarly situated merchants, and alleging that MasterCard and VISA
USA, together with their members, conspired to charge retailers excessive interchange in violation of federal antitrust laws. In October 2005,
these suits were consolidated in In re: Payment Card Fee and Merchant Discount Antitrust Litigation ("MDL 1720") and venued
in the United States District Court for the Eastern District of New York. The plaintiffs seek unspecified treble damages, injunctive relief,
attorneys' fees and costs.

 On April 24, 2006, plaintiffs filed a first
consolidated and amended complaint, naming First National Bank of Omaha ("FNBO") and others as defendants. The plaintiffs
realleged the claims in their original complaints and further claimed that defendants violated federal and California antitrust laws by
combining to impose certain fees and to adopt rules and practices of VISA USA and MasterCard that the plaintiffs contend constitute
unlawful restraints of trade. In July 2007, FNBO entered into judgment and loss sharing agreements (the sharing agreements) with
VISA USA and certain financial institutions to apportion financial responsibilities arising from any potential adverse judgment or settlement.
In 2010, FNBO entered into additional contracts among the defendants relating to the apportionment of financial responsibilities which
may arise from any potential adverse judgment or settlement. FNBO and other defendants signed amendments to the above-referenced agreements,
including the most recent in October 2015, to clarify and further define the scope of coverage for potential adverse judgments or
settlements.

 On October 19, 2012, the parties entered into
a settlement agreement to resolve these claims. The court granted preliminary approval of the settlement agreement on November 9,
2012. The court entered the formal Class Settlement Order and Final Judgment on January 14, 2014 (the "Order").
A series of appeals were filed in response to the Order and on June 30, 2016, the U.S. Court of Appeals for the Second Circuit reversed
the Order, vacated the lower court's certification of the merchant class and remanded the case to the lower court for further proceedings
not inconsistent with the Second Circuit's order. On November 23, 2016 Class Plaintiffs filed a Petition for Writ of Certiorari
with the U.S. Supreme Court seeking a review of the Second Circuit's decision. On March 27, 2017, the U.S. Supreme Court issued
an Order denying Class Plaintiffs' Petition for Writ of Certiorari.

 In furtherance of the Second Circuit's reversal
and remand order, the district court in MDL 1720 appointed separate interim co-lead counsel for a Rule 23(b)(2) Putative Injunctive
Relief Class and a Rule 23(b)(3) Putative Damages Class, and the parties resumed litigation activities. On September 17,
2018, certain of the parties entered into the Superseding and Amended Definitive Class Settlement Agreement of the Rule 23(b)(3) Class Plaintiffs
and the Defendants ("Amended Settlement Agreement"). The terms of the Amended Settlement Agreement include: (a) a comprehensive
release from the Rule 23(b)(3) Damages Class members ("Damages Class") for liability arising out of the claims
asserted in the litigation; (b) certain settlement payments to the Damages Class; and (c) distribution to the Damages Class merchants
of a portion of interchange across all credit rate categories for a prior period of eight consecutive months. On September 10, 2018,
the Rule 23(b)(3) Class Plaintiffs filed a Motion for Preliminary Approval of the Amended Settlement Agreement. The Court
granted Preliminary Approval of the Amended Settlement Agreement on January 24, 2019. The hearing for final approval of the Amended
Settlement Agreement was held on November 2, 2019. The Court issued its Order granting final approval of the Amended Settlement Agreement
on December 13, 2019 ("Final Approval Order"). As part of the Final Approval Order, the District Court made clear its
intent to appoint a Special Master to resolve franchisor/franchisee disputes regarding who may claim settlement funds. Eight appeals have
been filed with the U.S. Court of Appeals for the Second Circuit in response to the Final Approval Order. The parties concluded briefing,
and the Second Circuit held oral arguments on March 16, 2022.

 On July 8, 2022, the Second Circuit remanded
the case to the District Court to consider whether, in the event the District Court's disposition of the franchisor/franchisee disputes
is deemed not a final judgment, there is no just reason for delay in ruling on all other issues on appeal. On July 18, 2022, the
District Court issued its ruling and confirmed that there is no just reason for delay in the appeal of all other issues and certified
its prior Final Approval Order as a partial final judgment. On March 15, 2023, the Second Circuit affirmed the District Court's
prior Final Approval Order as a partial final judgment, leaving open only the possibility of subsequent challenges to the Special Master's
allocation of damages as referenced above or the release of future claims.

 On September 27, 2021, the Court granted Plaintiffs'
motion for class certification and certified a Rule 23(b)(2) mandatory, non-opt out Equitable Relief Class. On March 24,
2024, certain of the parties entered into the Class Settlement Agreement of the Rule 23(b)(2) Class Plaintiffs and
the Defendants ("Rule 23(b)(2) Class Settlement Agreement"). The terms of the Rule 23(b)(2) Settlement
Agreement include: (a) reduced credit interchange rates for U.S. merchants; (b) a five year cap prohibiting increases of the
reduced credit interchange rates; (c) funding for a Merchant Education Program intended to educate small businesses about payment
acceptance options and how best to manage costs; and (d) enhanced merchant flexibility at the point of sale, including the opportunity
to steer to preferred payment methods and more optionality around surcharging. On March 26, 2024, Rule 23(b)(2) Class Plaintiffs
filed a Motion for Preliminary Approval of Settlement, and the Court subsequently scheduled a hearing on the Rule 23(b)(2) Class Plaintiffs'
Motion for Preliminary Approval of Settlement for June 13, 2024. On June 25, 2024, the Court issued an Order denying the Rule 23(b)(2) Class Plaintiffs'
Motion for Preliminary Approval of Settlement, finding that it was unlikely to hold that the factors enumerated in Rule 23(e)(2) would
weigh in favor of final settlement approval.

 Between July 12 and July 18, 2024, several
of the suits consolidated for pretrial proceedings in MDL 1720 and venued in the United States District Court for the Eastern District
of New York were remanded to their transferor courts for further proceedings up to and through trial. More specifically:

 Grubhub Holdings Inc. v. Visa Inc., No. 19 07273, was remanded to the United States District Court for the Northern District
of Illinois on July 12, 2024. The transferor court continues to review pleadings submitted by the parties in MDL 1720 and has not
yet scheduled a trial.

 Target Corporation v. Visa Inc., No. 13 03477, and 7 Eleven, Inc. v. Visa, Inc., No. 13 04442, were each remanded
to the United States District Court for the Southern District of New York on July 17, 2024. The transferor court has ordered that
a bellwether trial of six plaintiffs—three from the Target action and three from the 7 Eleven action—will commence on October 20,
2025.

 Pursuant to accounting guidance on guarantees,
FNBO, as part of the contingent litigation accrual, has recorded on its books the fair value of its potential obligations under the additional
contracts it entered into in 2010, as amended and referred to above. This liability is subject to significant estimation risk and may
materially change. Furthermore, management cannot predict with any degree of certainty how the final outcome of MDL 1720 and the above
civil actions may impact the broader credit card industry, and in this regard, FNBO.

 Other Litigation Concerning the Credit Card
Industry

 Other antitrust lawsuits have been filed against
VISA and MasterCard from time to time, including cases filed by merchants who elected to be excluded from/opt out of the initial 2012
settlement agreement referenced above and/or the Amended Settlement Agreement. FNBO has not been a party to any material suits; however,
FNBO is a member of the MasterCard and VISA USA networks and these suits have been covered in the sharing agreements referred to above.
While a number of these suits are ongoing, in each of these covered matters that have been settled to date, the VISA portion of the settlement
payments have been made from the escrow created by VISA's stock offerings, and the MasterCard portion has been paid in accordance
with the MasterCard sharing agreements referenced above. In addition, ongoing settlement discussions and mediation activities continue
with a number of opt-out Plaintiffs and opt-out Plaintiff groups.

 U.S. Bank Trust Company, National Association,
in its capacity as Indenture Trustee, has provided the following information for the purposes of complying with the requirements of Regulation
AB:

 "U.S. Bank National Association ("U.S.
Bank") and other large financial institutions have been sued in their capacity as trustee or successor trustee for certain residential
mortgage backed securities ("RMBS") trusts. The complaints, primarily filed by investors or investor groups against U.S. Bank
and similar institutions, allege the trustees caused losses to investors as a result of alleged failures by the sponsors, mortgage loan
sellers and servicers to comply with the governing agreements for these RMBS trusts. Plaintiffs generally assert causes of action based
upon the trustees' purported failures to enforce repurchase obligations of mortgage loan sellers for alleged breaches of representations
and warranties, notify securityholders of purported events of default allegedly caused by breaches of servicing standards by mortgage
loan servicers and abide by a heightened standard of care following alleged events of default.

 U.S. Bank denies liability and believes that it
has performed its obligations under the RMBS trusts in good faith, that its actions were not the cause of losses to investors, that it
has meritorious defenses, and it has contested and intends to continue contesting the plaintiffs' claims vigorously. However, U.S.
Bank cannot assure you as to the outcome of any of the litigation, or the possible impact of these litigations on the trustee or the RMBS
trusts.

 On March 9, 2018, a law firm purporting to
represent fifteen Delaware statutory trusts (the "DSTs") that issued securities backed by student loans (the "Student
Loans") filed a lawsuit in the Delaware Court of Chancery against U.S. Bank National Association ("U.S. Bank") in its
capacities as indenture trustee and successor special servicer, and three other institutions in their respective transaction capacities,
with respect to the DSTs and the Student Loans. This lawsuit is captioned The National Collegiate Student Loan Master Trust I, et al.
v. U.S. Bank National Association, et al., C.A. No. 2018-0167-JRS (Del. Ch.) (the "NCMSLT Action"). The complaint, as
amended on June 15, 2018, alleged that the DSTs have been harmed as a result of purported misconduct or omissions by the defendants
concerning administration of the trusts and special servicing of the Student Loans. Since the filing of the NCMSLT Action, certain Student
Loan borrowers have made assertions against U.S. Bank concerning special servicing that appear to be based on certain allegations made
on behalf of the DSTs in the NCMSLT Action.

 U.S. Bank has filed a motion seeking dismissal
of the operative complaint in its entirety with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6) or, in
the alternative, a stay of the case while other prior filed disputes involving the DSTs and the Student Loans are litigated. On November 7,
2018, the Court ruled that the case should be stayed in its entirety pending resolution of the first-filed cases. On January 21,
2020, the Court entered an order consolidating for pretrial purposes the NCMSLT Action and three other lawsuits pending in the Delaware
Court of Chancery concerning the DSTs and the Student Loans, which remains pending.

 U.S. Bank denies liability in the NCMSLT Action
and believes it has performed its obligations as indenture trustee and special servicer in good faith and in compliance in all material
respects with the terms of the agreements governing the DSTs and that it has meritorious defenses. It has contested and intends to continue
contesting the plaintiffs' claims vigorously."

 Item 1119 of Regulation AB. Affiliations and Certain Relationships
and Related Transactions.

 The information required by Item 1119 of Regulation
AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119.

 Item 1122 of Regulation AB. Compliance with Applicable Servicing
Criteria.

 Each of FNBO and U.S. Bank Trust Company, National
Association (the "Trustee") (each, a "Servicing Participant"), has been identified by the registrant as a party
participating in the servicing function during the reporting period with respect to more than 5% of the pool assets held by the Trust.
Each of the Servicing Participants has completed a report on an assessment of compliance with the servicing criteria applicable to such
Servicing Participant (each, a "Report on Assessment") during the Trust's fiscal year ending December 31, 2024,
which Reports on Assessment are attached as exhibits to this Form 10-K. In addition, each of the Servicing Participants has provided
an attestation report (each, an "Attestation Report") by a registered independent public accounting firm regarding its related
Report on Assessment. Each Attestation Report is attached as an exhibit to this Form 10-K. Neither the Reports on Assessment nor
the Attestation Reports have identified any material instances of noncompliance with the servicing criteria applicable to the Servicing
Participants.

 Item 1123 of Regulation AB. Servicer Compliance Statement.

 FNBO has been identified by the registrant as a
servicer during the reporting period with respect to the pool assets held by the Trust. FNBO has provided a Servicer Compliance Statement,
signed by an authorized officer, and such Servicer Compliance Statement is attached as an exhibit to this Form 10-K.

 EXHIBIT INDEX

 Exhibit 3.1

 Articles of Organization of First National Funding LLC (incorporated by reference to registrants' registration statement filed on April 18, 2002, file no. 333-86574-01)

 Exhibit 3.2

 Operating Agreement of First National Funding LLC, dated as of October 24, 2002 (incorporated by reference to registrants' Form 8-K filed on November 4, 2002, file no. 333-86574-01)

 Exhibit 4.1

 Second Amended and Restated Master Indenture, dated as of September 23, 2016, between First National Master Note Trust and U.S. Bank National Association (incorporated by reference from registrants' Form 8-K filed on September 28, 2016, file no. 333- 209738)

 Exhibit 4.2

 First Amendment to Second Amended and Restated Master Indenture, dated as of April 27, 2023, between First National Master Note Trust and U.S. Bank Trust Company, National Association, as indenture trustee (incorporated by reference from registrants' Form 8-K filed on April 27, 2023, file no. 333-1396730)

 Exhibit 4.3

 Second Amendment to Second Amended and Restated Master Indenture, dated as of September 22, 2023, between First National Master Note Trust and U.S. Bank Trust Company, National Association, as indenture trustee (incorporated by reference from registrants' Form 8-K filed on September 22, 2023, file no. 333-1396730)

 Exhibit 4.4

 Omnibus Instrument of Appointment and Acceptance of U.S. Bank National Association As Successor Indenture Trustee, dated as of June 18, 2013, among U.S. Bank National Association, The Bank of New York Mellon Trust Company, N.A. and First National Master Note Trust and acknowledged and accepted by First National Funding LLC and First National Bank of Omaha (incorporated by reference from registrants' Form S-3 filed on July 24, 2013, file no. 333-190096)

 Exhibit 4.5

 Form of Indenture Supplement, including form of Notes (incorporated by reference from registrants' Amendment No. 1 to Form SF-3 filed on August 5, 2022, file no. 333- 265964)

 Exhibit 4.6

 Series 2023-1 Indenture Supplement, dated as of April 27, 2023, between First National Master Note Trust and U.S. Bank Trust Company, National Association, as indenture trustee (incorporated by reference from registrants' Form 8-K filed on April 27, 2023, file no. 333-1396730)

 Exhibit 4.7

 Risk Retention Agreement, dated as of April 27, 2023, by
 and among First National Bank of Omaha, First National Funding LLC and First National Master Note Trust (incorporated by reference from registrants' Form 8-K filed on April 27, 2023, file no. 333-1396730)

 Exhibit 4.8

 Series 2023-2 Indenture Supplement, dated as of September 22, 2023, between First National Master Note Trust and U.S. Bank Trust Company, National Association, as indenture trustee (incorporated by reference from registrants' Form 8-K filed on September 22, 2023, file no. 333-1396730)

 Exhibit 4.9

 Risk Retention Agreement, dated as of September 22,
 2023, by and among First National Bank of Omaha, First National Funding LLC and First National Master Note Trust (incorporated by reference from registrants' Form 8-K filed on September 22, 2023, file no. 333-1396730)

 Exhibit 4.10

 Series 2024-1 Indenture Supplement, dated as of May 29, 2024, between First National Master Note Trust and U.S. Bank Trust Company, National Association, as indenture trustee (incorporated by reference from registrants' Form 8-K filed on May 29, 2024, file no. 333-1396730)

 Exhibit 4,11

 Risk Retention Agreement, dated as of May 29, 2024, by and among First National Bank of Omaha, First National Funding LLC and First National Master Note Trust (incorporated by reference from registrants' Form 8-K filed on May 29, 2024, file no. 333-1396730)

 Exhibit 4.12

 Series 2025-1 Indenture Supplement, dated as of February 19, 2025, between First National Master Note Trust and U.S. Bank Trust Company, National Association, as indenture trustee (incorporated by reference from registrants' Form 8-K filed on February 19, 2025, file no. 333-1396730)

 Exhibit 4,13

 Risk Retention Agreement, dated as of February 19, 2025, by and among First National Bank of Omaha, First National Funding LLC and First National Master Note Trust (incorporated by reference from registrants' Form 8-K filed on February 19, 2025, file no. 333-1396730)

 Exhibit 4.14

 Second Amended and Restated Transfer and Servicing Agreement, dated as of September 23, 2016, among First National Funding LLC, First National Bank of Omaha and First National Master Note Trust (incorporated by reference from registrants' Form 8-K filed on September 28, 2016, file no. 333- 209738)

 Exhibit 4.15

 Second Amended and Restated Trust Agreement of First National Master Note Trust, dated as of September 23, 2016, between First National Funding LLC and Wilmington Trust Company (incorporated by reference from registrants' Form 8-K filed on September 28, 2016, file no. 333-209738)

 Exhibit 4.16

 Second Amended and Restated Administration Agreement, dated as of September 23, 2016, between First National Master Note Trust and First National Bank of Omaha (incorporated by reference from registrants' Form 8-K filed on September 28, 2016, file no. 333- 209738)

 Exhibit 4.17

 Second Amended and Restated Receivables Purchase Agreement, dated as of September 23, 2016, between First National Bank of Omaha and First National Funding LLC (incorporated by reference from registrants' Form 8-K filed on September 28, 2016, file no. 333- 209738)

 Exhibit 4.18

 Asset Representations Review Agreement, dated as of September 23, 2016, among First National Bank of Omaha, First National Funding LLC, First National Master Note Trust and FTI Consulting, Inc. (incorporated by reference from registrants' Form 8-K filed on September 28, 2016, file no. 333- 209738)

 Exhibit 31.1

 Certification pursuant to Rule 13a-14(d)/ 15d–14(d) of the Securities Exchange Act of 1934 (Section 302 Certification).

 Exhibit 33.1

 Report on Assessment of Compliance with Servicing Criteria (pursuant to Item 1122 of Regulation AB) concerning servicing activities of FNBO for the year ended December 31, 2024.

 Exhibit 33.2

 Report on Assessment of Compliance with Servicing Criteria
 (pursuant to Item 1122 of Regulation AB) concerning servicing activities of the Trustee for the year ended December 31, 2024.

 Exhibit 34.1

 Independent Registered Public Accounting Firm Attestation Report concerning servicing activities of FNBO for the year ended December 31, 2024.

 Exhibit 34.2

 Independent Registered Public Accounting Firm Attestation Report concerning servicing activities of the Trustee for the year ended December 31, 2024.

 Exhibit 35.1

 Servicer Compliance Statement (pursuant to Item 1123 of Regulation AB) of FNBO for the year ended December 31, 2024.

 SIGNATURES

 Pursuant to the requirements of Section 13
or 15(d) of the Securities Exchange Act of 1934, the Issuing Entity has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

 Dated:
 March 21, 2025

 FIRST
 NATIONAL MASTER NOTE TRUST

 By:

 First National Bank of Omaha, As Servicer of First National
Master Note Trust

 By:

 /s/ Anthony R. Cerasoli

 Anthony R. Cerasoli,

 Senior Vice President and Treasurer

 SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH
REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12
OF THE ACT.

 No annual report, proxy statement, form of proxy
or other proxy soliciting material has been sent to Noteholders during the period covered by this Annual Report on Form 10-K and
the registrant does not intend to furnish such materials to Noteholders subsequent to the filing of this report.


FORM 10-K

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2024

 OR

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934

 Commission File Number of issuing entity: 333-228954-06

 CNH EQUIPMENT TRUST 2021-C

 (Exact name of issuing entity as specified in its
charter)

 CIK Number of issuing entity: 0001881859

 Commission File Number of depositor: 333-228954

 CNH CAPITAL RECEIVABLES LLC

 (Exact name of depositor as specified in its charter)

 CIK Number of depositor: 0001115252

 CNH INDUSTRIAL CAPITAL AMERICA LLC

 (Exact name of sponsor as specified in its charter)

 CIK Number of sponsor: 0001540092

 Delaware

 (State or other jurisdiction of incorporation or
organization of the issuing entity)

 87-6580609
 (CNH Equipment Trust 2021-C)

 39-1995297
 (CNH Capital Receivables LLC)

 (I.R.S. Employer
 Identification No.)

 5729
 Washington Avenue

 Racine, Wisconsin

 53406

 (Address
 of principal executive offices)

 (Zip
 Code)

 (262) 636-6011

 (Registrant's
 telephone number, including area code)

 Securities registered pursuant
to Section 12(b) of the Act: None.

 Securities registered pursuant
to Section 12(g) of the Act: None.

by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o
No x

by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes
o No x

by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
Yes No

by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405
of Regulation S- T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was
required to submit such files). x Yes
No

by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller
reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 Large
 accelerated filer o

 Accelerated
 filer o

 Non-accelerated
 filer x

 Smaller
 reporting company o

 Emerging
 growth company o

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of
its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public
accounting firm that prepared or issued its audit report. o

 If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements. o

by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation
received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). o

by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o
No x

 State the aggregate market
value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently
completed second fiscal quarter. Registrant has no voting or non-voting common equity outstanding held by non-affiliates.

 Indicate the number of shares
outstanding of each of the registrant's classes of common stock, as of the last practicable date. Not applicable.

 DOCUMENTS INCORPORATED BY REFERENCE

 List hereunder the following
documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which
the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any
prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be
clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).
 None.

 CNH Equipment Trust 2021-C (the
 "Trust") is a trust established under the laws of the State of Delaware by the Trust Agreement dated October 8, 2021
between CNH Capital Receivables LLC (the "Seller"), and Wilmington Trust Company, as trustee. New Holland Credit
Company, LLC, (the "Servicer"), is the Servicer under a Sale and Servicing Agreement (the "Sale and Servicing
Agreement") dated as of October 1, 2021 among the Servicer, the Seller and the Trust. The Trust issued $940,430,000 in
aggregate principal amount of asset-backed notes, Classes A-1, A-2, A-3, A-4 (collectively, the "Class A Notes") and B
(the "Class B Notes" and together with the Class A Notes, the "Notes"), pursuant to an Indenture dated as of
October 1, 2021, between the Trust and Citibank, N.A., as indenture trustee. The Class A Notes and the Class B Notes were publicly
offered. The Seller initially retained ownership of the certificates representing the ownership interest in the Trust (the
 "Certificates").

 The following Items have been omitted in accordance
with General Instruction J to Form 10-K:

 Item 1.
 Business.

 Item 1A.
 Risk Factors.

 Item 1C.
 Cybersecurity.

 Item 2.
 Properties.

 Item 3.
 Legal Proceedings.

 Item 1B.
 Unresolved Staff Comments. Not
Applicable.

 Item 4.
 Mine Safety Disclosures. Not Applicable.

 The following Items have been omitted in accordance
with General Instruction J to Form 10-K:

 Item 5.
 Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity
Securities.

 Item 7.
 Management's Discussion and Analysis of Financial Condition and Results of Operations.

 Item 7A.
 Quantitative and Qualitative Disclosures About Market Risk.

 Item 8.
 Financial Statements and Supplementary Data.

 Item 9.
 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.

 Item 9A.
 Controls and Procedures.

 Item 9B.
 Other Information. None.

 Item 9C.
 Disclosure Regarding Foreign Jurisdictions
that Prevent Inspections. None.

 The following Items have been omitted in accordance
with General Instruction J to Form 10-K:

 Item 10.
 Directors, Executive Officers and Corporate Governance.

 Item 11.
 Executive Compensation.

 Item 12.
 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 Item 13.
 Certain Relationships and Related Transactions, and Director Independence.

 Item 14.
 Principal Accountant Fees and Services.

 Item 15.
 Exhibits and Financial Statement Schedules.

 (a)
 (1)

 Not applicable.

 (2)
 Not applicable.

 (3)
 The exhibits filed in response to Item 601 of Regulation S-K are
listed in the Exhibit Index.

 (b)
 Exhibits.

 Exhibit 3.1:

 Certificate
 of Formation of CNH Capital Receivables LLC (Filed as Exhibit 3.1 to registrant's Form SF-3 filed on February
 24, 2022, and incorporated herein by reference).

 Exhibit 3.2:

 Limited
 Liability Company Agreement of CNH Capital Receivables LLC (Filed as Exhibit 3.2 to registrant's Form SF-3 filed
 on February 24, 2022, and incorporated herein by reference).

 Exhibit 4.1:

 Indenture,
 dated as of October 1, 2021, between CNH Equipment Trust 2021-C and Citibank, N.A. (Filed as Exhibit 4.1 of the Trust's
 Current Report on Form 8-K filed on October 27, 2021, and incorporated herein by reference).

 Exhibit 4.2:

 Trust
 Agreement, dated as of October 8, 2021, among CNH Capital Receivables LLC and Wilmington Trust Company, as trustee (Filed as Exhibit 4.2
 of the Trust's Current Report on Form 8-K filed on October 21, 2021, and incorporated herein by reference).

 Exhibit 4.3:

 Sale
 and Servicing Agreement, dated as of October 1, 2021, among CNH Capital Receivables LLC, New Holland Credit Company, LLC and CNH
 Equipment Trust 2021-C (Filed as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on October 27, 2021,
 and incorporated herein by reference).

 Exhibit 4.4:

 Purchase
 Agreement, dated as of October 1, 2021, between CNH Capital Receivables LLC and CNH Industrial Capital America LLC (Filed as Exhibit 4.3
 of the Trust's Current Report on Form 8-K filed on October 27, 2021, and incorporated herein by reference).

 Exhibit 4.5:

 Administration
 Agreement, dated as of October 1, 2021, among New Holland Credit Company, LLC, CNH Equipment Trust 2021-C, Wilmington Trust Company
 and Citibank, N.A. (Filed as Exhibit 4.4 of the Trust's Current Report on Form 8-K filed on October 27, 2021, and
 incorporated herein by reference).

 Exhibit 4.6:

 Asset
 Representations Review Agreement, dated as of October 1, 2021, among CNH Equipment Trust 2021-C, New Holland Credit Company, LLC
 and Clayton Fixed Income Services LLC, as asset representations reviewer (Filed as Exhibit 4.5 of the Trust's Current
 Report on Form 8-K filed on October 27, 2021, and incorporated herein by reference).

 Exhibit 4.7:

 Memorandum
 of Understanding, dated as of October 27, 2021, among CNH Industrial Capital America LLC, CNH Capital Receivables LLC, CNH Equipment
 Trust 2021-C and Citibank, N.A., as indenture trustee (filed as Exhibit 4.6 of the Trust's Current Report on Form 8-K filed
 on October 27, 2021, and incorporated herein by reference).

 Exhibit 4.8:

 Letter
 Agreement, dated as of October 27, 2021, among New Holland Credit Company, LLC and Wilmington Trust Company, as trustee (filed
 as Exhibit 4.7 of the Trust's Current Report on Form 8-K filed on October 27, 2021, and incorporated herein by reference).

 Exhibit 10.1:

 Underwriting
 Agreement, dated as of October 19, 2021, among CNH Capital Receivables LLC, CNH Industrial Capital America LLC, and Wells Fargo Securities,
 LLC, Barclays Capital Inc. and Santander Investment Securities Inc., as representatives of the several underwriters (Filed as Exhibit 1.1
 of the Trust's Current Report on Form 8-K filed on October 21, 2021, and incorporated herein by reference).

 Exhibit 31.1:

 Section 302
 Certification.

 Exhibit 33.1:

 Certification
 Regarding Compliance with Applicable Servicing Criteria (New Holland Credit Company, LLC).

 Exhibit 33.2:

 Management's
 Assessment of Compliance (Citibank, N.A.).

 Exhibit 34.1:

 Report
 of Independent Registered Public Accounting Firm (Deloitte & Touche LLP).

 Exhibit 34.2:

 Report
 of Independent Registered Public Accounting Firm (KPMG LLP).

 Exhibit 35.1:

 Servicing
 Compliance Statement of New Holland Credit Company, LLC.

 (c)
 Not applicable.

 Item 16.
 Form 10-K Summary. None.

 Substitute
information provided in accordance with General Instruction J to Form 10-K:

 Item 1112(b) of Regulation AB. Significant
Obligor Financial Information.

 No obligor relating to the pool assets held by
the issuing entity is a "significant obligor" as that term is defined in Regulation AB.

 Item 1114(b)(2) of Regulation AB. Credit
Enhancement and Other Support, Except for Certain Derivatives Instruments.

 Based on the standards set forth in Item 1114(b)(2) of
Regulation AB, no information is required in response to this Item.

 Item 1115(b) of Regulation AB. Certain
Derivatives Instruments.

 Based on the standards set forth in Item 1115(b) of
Regulation AB, no information is required in response to this Item.

 Item 1117 of Regulation AB. Legal Proceedings.

 The registrant knows of no material pending legal
proceedings or material legal proceedings contemplated by governmental authorities against any of the parties or property for which Item
1117 of Regulation AB would require disclosure.

 Item 1119 of Regulation AB. Affiliates and
Certain Relationships and Related Transactions.

 Information required by Item 1119 of Regulation
AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119 because such information has been previously
provided as permitted by the Instructions to Item 1119.

 Item 1122 of Regulation AB. Compliance with
Applicable Servicing Criteria.

 Each
of New Holland Credit Company, LLC ("NHCC"), as Servicer, and Citibank, N.A. ("Citibank"), as Indenture Trustee,
(each, a "Servicing Participant") have been identified by the registrant as a party participating in the servicing function
with respect to the pool assets held by the Trust. Each of the Servicing Participants has completed a report on assessment of compliance
with the servicing criteria applicable to such Servicing Participant (each, a "Report on Assessment"), which for Citi
are all servicing criteria set forth in Item 1122(d), except for Items 1122(d)(1)(i)-1122(d)(1)(v), 1122(d)(2)(iii), 1122(d)(2)(vi)-1122(d)(2)(vii),
1122(d)(3)(i) and 1122(d)(4)(i)-1122(d)(4)(xv), and which for NHCC are all servicing criteria set forth in Item 1122(d), except for Items
1122 (d)(1)(iii), 1122 (d)(1)(iv), 1122 (d)(2)(ii), 1122 (d)(2)(iii), 1122 (d)(2)(vi), 1122 (d)(4)(x), 1122 (d)(4)(xi), 1122 (d)(4)(xii),
1122 (d)(4)(xiii), and 1122 (d)(4)(xv). The Report on Assessment provided by NHCC and the Report on Assessment provided by Citibank are
dated as of March 24, 2025 and February 28, 2025, respectively, and as of and for a period consisting of the twelve months ended December
31, 2024. Each Report on Assessment is attached as an exhibit to this Form 10-K.

 In addition, each of the Servicing Participants
has provided an attestation report (each, an "Attestation Report") by an independent registered public accounting firm regarding
its related Report on Assessment. Each Attestation Report is attached as an exhibit to this Form 10-K.

 None of the Reports on Assessment or the related
Attestation Reports have identified any material instances of noncompliance with the servicing criteria identified in such Report on Assessment
as applicable to the related Servicing Participant. In addition, neither the Report on Assessment provided by NHCC nor the related
Attestation Report have identified any material deficiency in NHCC's policies and procedures to monitor vendor compliance.

 Item 1123 of Regulation AB. Servicer Compliance
Statement.

 A Servicer Compliance Statement from an officer
of New Holland Credit Company, LLC is included as an exhibit to this Report.

 EXHIBIT INDEX

 Exhibit 3.1:

 Certificate
 of Formation of CNH Capital Receivables LLC (Filed as Exhibit 3.1 to registrant's Form SF-3 filed on February
 24, 2022, and incorporated herein by reference).

 Exhibit 3.2:

 Limited
 Liability Company Agreement of CNH Capital Receivables LLC (Filed as Exhibit 3.2 to registrant's Form SF-3 filed
 on February 24, 2022, and incorporated herein by reference).

 Exhibit 4.1:

 Indenture,
 dated as of October 1, 2021, between CNH Equipment Trust 2021-C and Citibank, N.A. (Filed as Exhibit 4.1 of the Trust's
 Current Report on Form 8-K filed on October 27, 2021, and incorporated herein by reference).

 Exhibit 4.2:

 Trust
 Agreement, dated as of October 8, 2021, among CNH Capital Receivables LLC and Wilmington Trust Company, as trustee (Filed as Exhibit 4.2
 of the Trust's Current Report on Form 8-K filed on October 21, 2021, and incorporated herein by reference).

 Exhibit 4.3:

 Sale
 and Servicing Agreement, dated as of October 1, 2021, among CNH Capital Receivables LLC, New Holland Credit Company, LLC and CNH
 Equipment Trust 2021-C (Filed as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on October 27, 2021,
 and incorporated herein by reference).

 Exhibit 4.4:

 Purchase
 Agreement, dated as of October 1, 2021, between CNH Capital Receivables LLC and CNH Industrial Capital America LLC (Filed as Exhibit 4.3
 of the Trust's Current Report on Form 8-K filed on October 27, 2021, and incorporated herein by reference).

 Exhibit 4.5:

 Administration
 Agreement, dated as of October 1, 2021, among New Holland Credit Company, LLC, CNH Equipment Trust 2021-C, Wilmington Trust Company
 and Citibank, N.A. (Filed as Exhibit 4.4 of the Trust's Current Report on Form 8-K filed on October 27, 2021, and
 incorporated herein by reference).

 Exhibit 4.6:

 Asset
 Representations Review Agreement, dated as of October 1, 2021, among CNH Equipment Trust 2021-C,
 New Holland Credit Company, LLC and Clayton Fixed Income Services LLC, as asset representations reviewer (Filed as Exhibit 4.5
 of the Trust's Current Report on Form 8-K filed on October 27, 2021, and incorporated herein by reference).

 Exhibit 4.7:

 Memorandum
 of Understanding, dated as of October 27, 2021, among CNH Industrial Capital America LLC, CNH Capital Receivables LLC, CNH Equipment
 Trust 2021-C and Citibank, N.A., as indenture trustee (filed as Exhibit 4.6 of the Trust's Current Report on Form 8-K filed
 on October 27, 2021, and incorporated herein by reference).

 Exhibit 4.8:

 Letter
 Agreement, dated as of October 27, 2021, among New Holland Credit Company, LLC and Wilmington Trust Company, as trustee (filed
 as Exhibit 4.7 of the Trust's Current Report on Form 8-K filed on October 27, 2021, and incorporated herein by reference).

 Exhibit 10.1:

 Underwriting
 Agreement, dated as of October 19, 2021, among CNH Capital Receivables LLC, CNH Industrial Capital America LLC, and Wells Fargo Securities,
 LLC, Barclays Capital Inc. and Santander Investment Securities Inc., as representatives of the several underwriters (Filed as Exhibit 1.1
 of the Trust's Current Report on Form 8-K filed on October 21, 2021, and incorporated herein by reference).

 Exhibit 31.1:

 Section 302
 Certification.

 Exhibit 33.1:

 Certification
 Regarding Compliance with Applicable Servicing Criteria (New Holland Credit Company, LLC).

 Exhibit 33.2:

 Management's
 Assessment of Compliance (Citibank, N.A.).

 Exhibit 34.1:

 Report
 of Independent Registered Public Accounting Firm (Deloitte & Touche LLP).

 Exhibit 34.2:

 Report
 of Independent Registered Public Accounting Firm (KPMG LLP).

 Exhibit 35.1:

 Servicing
 Compliance Statement of New Holland Credit Company, LLC.

 SIGNATURES

 Pursuant to the requirements of Section 13
or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

 March 24, 2025

 CNH EQUIPMENT
 TRUST 2021-C

 By:

 New Holland
 Credit Company, LLC, as Servicer

 By:

 /s/
 Douglas MacLeod

 Name:

 Douglas MacLeod

 Title:

 President (senior officer
 in charge of the servicing function)

 SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH
REPORTS FILED PURSUANT TO SECTION 15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12
OF THE ACT.

 No annual report or proxy materials have been
sent to securityholders and the registrant does not intend to furnish such report or proxy materials to securityholders subsequent to
the filing of this Annual Report on Form 10-K.


FORM 10-K

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 FORM 10-K

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2024

 OR

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

 Commission File Number of issuing entity: 333-228954-05

 CNH EQUIPMENT TRUST 2021-B

 (Exact name of issuing entity as specified in its
charter)

 CIK Number of issuing entity: 0001866796

 Commission File Number of depositor: 333-228954

 CNH CAPITAL RECEIVABLES LLC

 (Exact name of depositor as specified in its charter)

 CIK Number of depositor: 0001115252

 CNH INDUSTRIAL CAPITAL AMERICA LLC

 (Exact name of sponsor as specified in its charter)

 CIK Number of sponsor: 0001540092

 Delaware

 (State or other jurisdiction of incorporation or
organization of the issuing entity)

 87-6354852 (CNH Equipment Trust 2021-B)

 39-1995297 (CNH Capital Receivables LLC)

 (I.R.S. Employer Identification No.)

 5729 Washington Avenue

 Racine, Wisconsin

 53406

 (Address of principal executive offices)

 (Zip Code)

 (262) 636-6011

 (Registrant's telephone number, including area code)

 Securities registered pursuant
to Section 12(b) of the Act: None.

 Securities registered pursuant
to Section 12(g) of the Act: None.

 Indicate by check mark if
the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

 Indicate by check mark if
the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No

the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days. Yes No

the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S- T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit
such files). Yes No

the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth
company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"
and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 Large accelerated
filer

 Accelerated
filer

 Non-accelerated filer

 Smaller
reporting company

 Emerging
 growth company

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control
over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting
firm that prepared or issued its audit report.

 If securities are registered
pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in
the filing reflect the correction of an error to previously issued financial statements.

any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of
the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).

 Indicate by check mark whether the registrant is
a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

 State the aggregate market
value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently
completed second fiscal quarter. Registrant has no voting or non-voting common equity outstanding held by non-affiliates.

 Indicate the number of shares
outstanding of each of the registrant's classes of common stock, as of the last practicable date. Not applicable.

 DOCUMENTS INCORPORATED BY REFERENCE

 List hereunder the following
documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which
the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any
prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be
clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).
 None.

 CNH Equipment Trust 2021-B (the "Trust")
is a trust established under the laws of the State of Delaware by the Trust Agreement dated July 9, 2021 between CNH Capital Receivables
LLC (the "Seller"), and Wilmington Trust Company, as trustee. New Holland Credit Company, LLC, (the "Servicer"),
is the Servicer under a Sale and Servicing Agreement (the "Sale and Servicing Agreement") dated as of July 1, 2021 among
the Servicer, the Seller and the Trust. The Trust issued $843,840,000 in aggregate principal amount of asset-backed notes, Classes A-1,
A-2, A-3, A-4 (collectively, the "Class A Notes") and B (the "Class B Notes" and together with the Class A
Notes, the "Notes"), pursuant to an Indenture dated as of July 1, 2021, between the Trust and Citibank, N.A., as indenture
trustee. The Class A Notes and the Class B Notes were publicly offered. The Seller initially retained ownership of the
certificates representing the ownership interest in the Trust (the "Certificates").

 The following Items have been omitted in accordance
with General Instruction J to Form 10-K:

 Item 1.
 Business.

 Item 1A.
 Risk Factors.

 Item 1C.
 Cybersecurity.

 Item 2.
 Properties.

 Item 3.
 Legal Proceedings.

 Item 1B.
 Unresolved Staff Comments. Not Applicable.

 Item 4.
 Mine Safety Disclosures. Not Applicable.

 The following Items have been omitted in accordance
with General Instruction J to Form 10-K:

 Item 5.
 Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity
Securities.

 Item 7.
 Management's Discussion and Analysis of Financial Condition and Results of Operations.

 Item 7A.
 Quantitative and Qualitative Disclosures About Market Risk.

 Item 8.
 Financial Statements and Supplementary Data.

 Item 9.
 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.

 Item 9A.
 Controls and Procedures.

 Item 9B.
 Other Information. None.

 Item 9C.
 Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. None.

 The following Items have been omitted in accordance
with General Instruction J to Form 10-K:

 Item 10.
 Directors, Executive Officers and Corporate Governance.

 Item 11.
 Executive Compensation.

 Item 12.
 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 Item 13.
 Certain Relationships and Related Transactions, and Director Independence.

 Item 14.
 Principal Accountant Fees and Services.

 Item 15.
 Exhibits and Financial Statement Schedules.

 (a)
 (1)
 Not
applicable.

 (2)
 Not applicable.

 (3)
 The
exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.

 (b)
 Exhibits.

 Exhibit 3.1:

 Certificate of Formation of CNH Capital Receivables LLC (Filed as Exhibit 3.1 to registrant's Form SF-3 filed on February 24, 2022, and incorporated herein by reference).

 Exhibit 3.2:

 Limited Liability Company Agreement of CNH Capital Receivables LLC (Filed as Exhibit 3.2 to registrant's Form SF-3 filed on February 24, 2022, and incorporated herein by reference).

 Exhibit 4.1:

 Indenture, dated as of July 1, 2021, between CNH Equipment Trust 2021-B and Citibank, N.A. (Filed as Exhibit 4.1 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.2:

 Trust Agreement, dated as of July 9, 2021, among CNH Capital Receivables LLC and Wilmington Trust Company, as trustee (Filed as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on July 22, 2021, and incorporated herein by reference).

 Exhibit 4.3:

 Sale and Servicing Agreement, dated as of July 1, 2021, among CNH Capital Receivables LLC, New Holland Credit Company, LLC and CNH Equipment Trust 2021-B (Filed as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.4:

 Purchase Agreement, dated as of July 1, 2021, between CNH Capital Receivables LLC and CNH Industrial Capital America LLC (Filed as Exhibit 4.3 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.5:

 Administration Agreement, dated as of July 1, 2021, among New Holland Credit Company, LLC, CNH Equipment Trust 2021-B, Wilmington Trust Company and Citibank, N.A. (Filed as Exhibit 4.4 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.6:

 Asset Representations Review Agreement, dated as of July 1, 2021, among CNH Equipment Trust 2021-B, New Holland Credit Company, LLC and Clayton Fixed Income Services LLC, as asset representations reviewer (Filed as Exhibit 4.5 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.7:

 Memorandum of Understanding, dated as of July 27, 2021, among CNH Industrial Capital America LLC, CNH Capital Receivables LLC, CNH Equipment Trust 2021-B and Citibank, N.A., as indenture trustee (filed as Exhibit 4.6 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.8:

 Letter Agreement, dated as of July 27, 2021, among New Holland Credit Company, LLC and Wilmington Trust Company, as trustee (filed as Exhibit 4.7 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 10.1:

 Underwriting Agreement, dated as of July 20, 2021, among CNH Capital Receivables LLC, CNH Industrial Capital America LLC, and BofA Securities, Inc., BNP Paribas Securities Corp., and Mizuho Securities USA LLC, as representatives of the several underwriters (Filed as Exhibit 1.1 of the Trust's Current Report on Form 8-K filed on July 22, 2021, and incorporated herein by reference).

 Exhibit 31.1:

 Section 302 Certification.

 Exhibit 33.1:

 Certification Regarding Compliance with Applicable Servicing Criteria (New Holland Credit Company, LLC).

 Exhibit 33.2:

 Management's Assessment of Compliance (Citibank, N.A.).

 Exhibit 34.1:

 Report of Independent Registered Public Accounting Firm (Deloitte & Touche LLP).

 Exhibit 34.2:

 Report of Independent Registered Public Accounting Firm (KPMG LLP).

 Exhibit 35.1:

 Servicing Compliance Statement of New Holland Credit Company, LLC.

 (c)
 Not applicable.

 Item 16.
 Form 10-K Summary. None.

 Substitute information provided in accordance
with General Instruction J to Form 10-K:

 Item 1112(b) of Regulation AB. Significant
Obligor Financial Information.

 No obligor relating to the pool assets held by
the issuing entity is a "significant obligor" as that term is defined in Regulation AB.

 Item 1114(b)(2) of Regulation AB. Credit
Enhancement and Other Support, Except for Certain Derivatives Instruments.

 Based on the standards set forth in Item 1114(b)(2) of
Regulation AB, no information is required in response to this Item.

 Item 1115(b) of Regulation AB. Certain
Derivatives Instruments.

 Based on the standards set forth in Item 1115(b) of
Regulation AB, no information is required in response to this Item.

 Item 1117 of Regulation AB. Legal Proceedings.

 The registrant knows of no material pending legal
proceedings or material legal proceedings contemplated by governmental authorities against any of the parties or property for which Item
1117 of Regulation AB would require disclosure.

 Item 1119 of Regulation AB. Affiliates and
Certain Relationships and Related Transactions.

 Information required by Item 1119 of Regulation
AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119 because such information has been previously
provided as permitted by the Instructions to Item 1119.

 Item 1122 of Regulation AB. Compliance with Applicable Servicing
Criteria.

 Each of New Holland Credit Company, LLC ("NHCC"),
as Servicer, and Citibank, N.A. ("Citibank"), as Indenture Trustee, (each, a "Servicing Participant") have been
identified by the registrant as a party participating in the servicing function with respect to the pool assets held by the Trust. Each
of the Servicing Participants has completed a report on assessment of compliance with the servicing criteria applicable to such Servicing
Participant (each, a "Report on Assessment"), which for Citi are all servicing criteria set forth in Item 1122(d), except
for Items 1122(d)(1)(i)-1122(d)(1)(v), 1122(d)(2)(iii), 1122(d)(2)(vi)-1122(d)(2)(vii), 1122(d)(3)(i) and 1122(d)(4)(i)-1122(d)(4)(xv),
and which for NHCC are all servicing criteria set forth in Item 1122(d), except for Items 1122 (d)(1)(iii), 1122 (d)(1)(iv), 1122
(d)(2)(ii), 1122 (d)(2)(iii), 1122 (d)(2)(vi), 1122 (d)(4)(x), 1122 (d)(4)(xi), 1122 (d)(4)(xii), 1122 (d)(4)(xiii), and 1122 (d)(4)(xv).
The Report on Assessment provided by NHCC and the Report on Assessment provided by Citibank are dated as of March 24, 2025 and
February 28, 2025, respectively, and as of and for a period consisting of the twelve months ended December 31, 2024. Each Report
on Assessment is attached as an exhibit to this Form 10-K.

 In addition, each of the Servicing Participants
has provided an attestation report (each, an "Attestation Report") by an independent registered public accounting firm regarding
its related Report on Assessment. Each Attestation Report is attached as an exhibit to this Form 10-K.

 None of the Reports on Assessment or the related
Attestation Reports have identified any material instances of noncompliance with the servicing criteria identified in such Report on Assessment
as applicable to the related Servicing Participant. In addition, neither the Report on Assessment provided by NHCC nor the related
Attestation Report have identified any material deficiency in NHCC's policies and procedures to monitor vendor compliance.

 Item 1123 of Regulation AB. Servicer Compliance
Statement.

 A Servicer Compliance Statement from an officer
of New Holland Credit Company, LLC is included as an exhibit to this Report.

 EXHIBIT INDEX

 Exhibit 3.1:

 Certificate of Formation of CNH Capital Receivables LLC (Filed as Exhibit 3.1 to registrant's Form SF-3 filed on February 24, 2022, and incorporated herein by reference).

 Exhibit 3.2:

 Limited Liability Company Agreement of CNH Capital Receivables LLC (Filed as Exhibit 3.2 to registrant's Form SF-3 filed on February 24, 2022, and incorporated herein by reference).

 Exhibit 4.1:

 Indenture, dated as of July 1, 2021, between CNH Equipment Trust 2021-B and Citibank, N.A. (Filed as Exhibit 4.1 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.2:

 Trust Agreement, dated as of July 9, 2021, among CNH Capital Receivables LLC and Wilmington Trust Company, as trustee (Filed as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on July 22, 2021, and incorporated herein by reference).

 Exhibit 4.3:

 Sale and Servicing Agreement, dated as of July 1, 2021, among CNH Capital Receivables LLC, New Holland Credit Company, LLC and CNH Equipment Trust 2021-B (Filed as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.4:

 Purchase Agreement, dated as of July 1, 2021, between CNH Capital Receivables LLC and CNH Industrial Capital America LLC (Filed as Exhibit 4.3 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.5:

 Administration Agreement, dated as of July 1, 2021, among New Holland Credit Company, LLC, CNH Equipment Trust 2021-B, Wilmington Trust Company and Citibank, N.A. (Filed as Exhibit 4.4 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.6:

 Asset Representations Review Agreement, dated as of July 1, 2021, among CNH Equipment Trust 2021-B, New Holland Credit Company, LLC and Clayton Fixed Income Services LLC, as asset representations reviewer (Filed as Exhibit 4.5 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.7:

 Memorandum of Understanding, dated as of July 27, 2021, among CNH Industrial Capital America LLC, CNH Capital Receivables LLC, CNH Equipment Trust 2021-B and Citibank, N.A., as indenture trustee (filed as Exhibit 4.6 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 4.8:

 Letter Agreement, dated as of July 27, 2021, among New Holland Credit Company, LLC and Wilmington Trust Company, as trustee (filed as Exhibit 4.7 of the Trust's Current Report on Form 8-K filed on July 27, 2021, and incorporated herein by reference).

 Exhibit 10.1:

 Underwriting Agreement, dated as of July 20, 2021, among CNH Capital Receivables LLC, CNH Industrial Capital America LLC, and BofA Securities, Inc., BNP Paribas Securities Corp., and Mizuho Securities USA LLC, as representatives of the several underwriters (Filed as Exhibit 1.1 of the Trust's Current Report on Form 8-K filed on July 22, 2021, and incorporated herein by reference).

 Exhibit 31.1:

 Section 302 Certification.

 Exhibit 33.1:

 Certification Regarding Compliance with Applicable Servicing Criteria (New Holland Credit Company, LLC).

 Exhibit 33.2:

 Management's Assessment of Compliance (Citibank, N.A.).

 Exhibit 34.1:

 Report of Independent Registered Public Accounting Firm (Deloitte & Touche LLP).

 Exhibit 34.2:

 Report of Independent Registered Public Accounting Firm (KPMG LLP).

 Exhibit 35.1:

 Servicing Compliance Statement of New Holland Credit Company, LLC.

 SIGNATURES

 Pursuant to the requirements of Section 13
or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

 March 24, 2025

 CNH EQUIPMENT TRUST 2021-B

 By:

 New Holland Credit Company, LLC, as Servicer

 By:

 /s/ Douglas MacLeod

 Name:

 Douglas MacLeod

 Title:

 President (senior officer in charge of the servicing function)

 SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH
REPORTS FILED PURSUANT TO SECTION 15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12
OF THE ACT.

 No annual report or proxy materials have been
sent to securityholders and the registrant does not intend to furnish such report or proxy materials to securityholders subsequent to
the filing of this Annual Report on Form 10-K.


FORM 10-K

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 FORM 10-K

 ANNUAL REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2024

 OR

 TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 Commission File Number of issuing entity: 333-228954-04

 CNH EQUIPMENT TRUST 2021-A

 (Exact name of issuing entity as specified in its
charter)

 CIK Number of issuing entity: 0001844872

 Commission File Number of depositor: 333-228954

 CNH CAPITAL RECEIVABLES LLC

 (Exact name of depositor as specified in its charter)

 CIK Number of depositor: 0001115252

 CNH INDUSTRIAL CAPITAL AMERICA LLC

 (Exact name of sponsor as specified in its charter)

 CIK Number of sponsor: 0001540092

 Delaware

 (State or other jurisdiction of incorporation or
organization of the issuing entity)

 86-6503331 (CNH Equipment
Trust 2021-A)

39-1995297 (CNH Capital Receivables LLC)

(I.R.S. Employer
Identification No.)

 5729 Washington Avenue

 Racine, Wisconsin

 53406

 (Address of principal executive offices)

 (Zip Code)

 (262)
636-6011

 (Registrant's telephone number, including area code)

 Securities registered pursuant
to Section 12(b) of the Act: None.

 Securities registered pursuant
to Section 12(g) of the Act: None.

by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes
No

by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes
 No

by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. Yes No

by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405
of Regulation S- T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was
required to submit such files). Yes
 No

 Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth
company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"
and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 Large
 accelerated filer

 Accelerated
 filer

 Non-accelerated
 filer

 Smaller
 reporting company

 Emerging
 growth company

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the
registered public accounting firm that prepared or issued its audit report.

 If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of
the registrant included in the filing reflect the correction of an error to previously issued financial statements.

by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based
compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to
 §240.10D-1(b).

by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes
No

 State the aggregate market
value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently
completed second fiscal quarter. Registrant has no voting or non-voting common equity outstanding held by non-affiliates.

 Indicate the number of shares
outstanding of each of the registrant's classes of common stock, as of the last practicable date. Not applicable.

 DOCUMENTS INCORPORATED BY REFERENCE

 List hereunder the following
documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which
the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any
prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be
clearly described for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).
 None.

 CNH Equipment Trust
2021-A (the "Trust") is a trust established under the laws of the State of Delaware by the Trust Agreement dated February 19,
2021 between CNH Capital Receivables LLC (the "Seller"), and Wilmington Trust Company, as trustee. New Holland Credit Company,
LLC, (the "Servicer"), is the Servicer under a Sale and Servicing Agreement (the "Sale and Servicing Agreement")
dated as of March 1, 2021 among the Servicer, the Seller and the Trust. The Trust issued $961,690,000 in aggregate principal amount
of asset-backed notes, Classes A-1, A-2, A-3, A-4 (collectively, the "Class A Notes") and B (the "Class B
Notes" and together with the Class A Notes, the "Notes"), pursuant to an Indenture dated as of March 1, 2021,
between the Trust and Citibank, N.A., as indenture trustee. The Class A Notes and the Class B Notes were publicly offered.
The Seller initially retained ownership of the certificates representing the ownership interest in the Trust (the "Certificates").

 The following Items
have been omitted in accordance with General Instruction J to Form 10-K:

 Item
 1.
 Business.

 Item
 1A.
 Risk
 Factors.

 Item
 1C.
 Cybersecurity.

 Item
 2.
 Properties.

 Item
 3.
 Legal
 Proceedings.

 Item 1B.
 Unresolved
 Staff Comments. Not Applicable.

 Item 4.
 Mine
 Safety Disclosures. Not Applicable.

 The following Items
have been omitted in accordance with General Instruction J to Form 10-K:

 Item 5.
 Market
 for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of
 Equity Securities.

 Item 7.
 Management's
 Discussion and Analysis of Financial Condition and Results of Operations.

 Item 7A.
 Quantitative
 and Qualitative Disclosures About Market Risk.

 Item 8.
 Financial
 Statements and Supplementary Data.

 Item 9.
 Changes
 in and Disagreements With Accountants on Accounting and Financial Disclosure.

 I tem 9A.
 Controls
 and Procedures.

 Item 9B.
 Other
 Information. None.

 Item 9C.
 Disclosure
 Regarding Foreign Jurisdictions that Prevent Inspections. None.

 The following Items
have been omitted in accordance with General Instruction J to Form 10-K:

 Item 10.
 Directors,
 Executive Officers and Corporate Governance.

 Item 11.
 Executive
 Compensation.

 Item 12.
 Security
 Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 Item 13.
 Certain
 Relationships and Related Transactions, and Director Independence.

 Item 14.
 Principal
 Accountant Fees and Services.

 Item 15.
 Exhibits
 and Financial Statement Schedules.

 (a)

 (1)

 Not applicable.

 (2)

 Not applicable.

 (3)

 The exhibits filed in response to Item 601 of Regulation S-K are listed in the
 Exhibit Index.

 (b)
 Exhibits.

 Exhibit 3.1:

 Certificate
 of Formation of CNH Capital Receivables LLC (Filed as Exhibit 3.1 to registrant's Form SF-3 filed on February 24,
 2022, and incorporated herein by reference).

 Exhibit 3.2:

 Limited
 Liability Company Agreement of CNH Capital Receivables LLC (Filed as Exhibit 3.2 to registrant's Form SF-3 filed
 on February 24, 2022, and incorporated herein by reference).

 Exhibit 4.1:

 Indenture,
 dated as of March 1, 2021, between CNH Equipment Trust 2021-A and Citibank, N.A. (Filed as Exhibit 4.1 of the Trust's
 Current Report on Form 8-K filed on March 15, 2021, and incorporated herein by reference).

 Exhibit 4.2:

 Trust
 Agreement, dated as of February 19, 2021, among CNH Capital Receivables LLC and Wilmington Trust Company, as trustee (Filed
 as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on March 11, 2021, and incorporated herein by
 reference).

 Exhibit 4.3:

 Sale
 and Servicing Agreement, dated as of March 1, 2021, among CNH Capital Receivables LLC, New Holland Credit Company, LLC and CNH
 Equipment Trust 2021-A (Filed as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on March 15, 2021,

 Exhibit 4.4:

 Purchase
 Agreement, dated as of March 1, 2021, between CNH Capital Receivables LLC and CNH Industrial Capital America LLC (Filed as Exhibit 4.3
 of the Trust's Current Report on Form 8-K filed on March 15, 2021, and incorporated herein by reference).

 Exhibit 4.5:

 Administration
 Agreement, dated as of March 1, 2021, among New Holland Credit Company, LLC, CNH Equipment Trust 2021-A, Wilmington Trust Company
 and Citibank, N.A. (Filed as Exhibit 4.4 of the Trust's Current Report on Form 8-K filed on March 15, 2021,

 Exhibit 4.6:

 Asset
 Representations Review Agreement, dated as of March 1, 2021, among CNH Equipment Trust 2021-A, New Holland Credit Company, LLC
 and Clayton Fixed Income Services LLC, as asset representations reviewer (Filed as Exhibit 4.5 of the Trust's Current
 Report on Form 8-K filed on March 15, 2021, and incorporated herein by reference).

 Exhibit 4.7:

 Memorandum
 of Understanding, dated as of March 15, 2021, among CNH Industrial Capital America LLC, CNH Capital Receivables LLC, CNH Equipment
 Trust 2021-A and Citibank, N.A., as indenture trustee (filed as Exhibit 4.6 of the Trust's Current Report on Form 8-K
 filed on March 15, 2021, and incorporated herein by reference).

 Exhibit 4.8:

 Letter
 Agreement, dated as of March 15, 2021, among New Holland Credit Company, LLC and Wilmington Trust Company, as trustee (filed
 as Exhibit 4.7 of the Trust's Current Report on Form 8-K filed on March 15, 2021, and incorporated herein by
 reference).

 Exhibit 10.1:

 Underwriting
 Agreement, dated as of March 9, 2021, among CNH Capital Receivables LLC, CNH Industrial Capital America LLC, and Citigroup Global
 Markets Inc., J.P. Morgan Securities LLC, Rabo Securities USA, Inc. and SG Americas Securities, LLC, as representatives of the
 several underwriters (Filed as Exhibit 1.1 of the Trust's Current Report on Form 8-K filed on March 11, 2021,

 Exhibit 31.1:

 Section 302
 Certification.

 Exhibit 33.1:

 Certification
 Regarding Compliance with Applicable Servicing Criteria (New Holland Credit Company, LLC).

 Exhibit 33.2:

 Management's
 Assessment of Compliance (Citibank, N.A.).

 Exhibit 34.1:

 Report
 of Independent Registered Public Accounting Firm (Deloitte & Touche LLP).

 Exhibit 34.2:

 Report
 of Independent Registered Public Accounting Firm (KPMG LLP).

 Exhibit 35.1:

 Servicing
 Compliance Statement of New Holland Credit Company, LLC.

 (c)
 Not applicable.

 Item 16.
 Form 10-K
 Summary. None.

 Substitute
information provided in accordance with General Instruction J to Form 10-K:

 Item 1112(b) of
Regulation AB. Significant Obligor Financial Information.

 No obligor relating
to the pool assets held by the issuing entity is a "significant obligor" as that term is defined in Regulation AB.

 Item 1114(b)(2) of
Regulation AB. Credit Enhancement and Other Support, Except for Certain Derivatives Instruments.

 Based on the standards
set forth in Item 1114(b)(2) of Regulation AB, no information is required in response to this Item.

 Item 1115(b) of
Regulation AB. Certain Derivatives Instruments.

 Based on the standards
set forth in Item 1115(b) of Regulation AB, no information is required in response to this Item.

 Item 1117 of
Regulation AB. Legal Proceedings.

 The registrant
knows of no material pending legal proceedings or material legal proceedings contemplated by governmental authorities against any of
the parties or property for which Item 1117 of Regulation AB would require disclosure.

 Item 1119 of
Regulation AB. Affiliates and Certain Relationships and Related Transactions.

 Information required
by Item 1119 of Regulation AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119 because
such information has been previously provided as permitted by the Instructions to Item 1119.

 Item 1122 of Regulation AB. Compliance
with Applicable Servicing Criteria.

 Each of New Holland
Credit Company, LLC ("NHCC"), as Servicer, and Citibank, N.A. ("Citibank"), as Indenture Trustee, (each, a "Servicing
Participant") have been identified by the registrant as a party participating in the servicing function with respect to the pool
assets held by the Trust. Each of the Servicing Participants has completed a report on assessment of compliance with the servicing criteria
applicable to such Servicing Participant (each, a "Report on Assessment"), which for Citi are all servicing criteria set
forth in Item 1122(d), except for Items 1122(d)(1)(i)-1122(d)(1)(v), 1122(d)(2)(iii), 1122(d)(2)(vi)-1122(d)(2)(vii), 1122(d)(3)(i) and
1122(d)(4)(i)-1122(d)(4)(xv), and which for NHCC are all servicing criteria set forth in Item 1122(d), except for Items 1122 (d)(1)(iii),
1122 (d)(1)(iv), 1122 (d)(2)(ii), 1122 (d)(2)(iii), 1122 (d)(2)(vi), 1122 (d)(4)(x), 1122 (d)(4)(xi), 1122 (d)(4)(xii), 1122 (d)(4)(xiii),
and 1122 (d)(4)(xv). The Report on Assessment provided by NHCC and the Report on Assessment provided by Citibank are dated as of March 24,
2025 and February 28, 2025, respectively, and as of and for a period consisting of the twelve months ended December 31, 2024.
Each Report on Assessment is attached as an exhibit to this Form 10-K.

 In addition, each
of the Servicing Participants has provided an attestation report (each, an "Attestation Report") by an independent registered
public accounting firm regarding its related Report on Assessment. Each Attestation Report is attached as an exhibit to this Form 10-K.

 None of the Reports
on Assessment or the related Attestation Reports have identified any material instances of noncompliance with the servicing criteria
identified in such Report on Assessment as applicable to the related Servicing Participant. In addition, neither the Report on
Assessment provided by NHCC nor the related Attestation Report have identified any material deficiency in NHCC's policies and procedures
to monitor vendor compliance.

 Item 1123 of
Regulation AB. Servicer Compliance Statement.

 A Servicer Compliance
Statement from an officer of New Holland Credit Company, LLC is included as an exhibit to this Report.

 EXHIBIT INDEX

 Exhibit 3.1:

 Certificate
 of Formation of CNH Capital Receivables LLC (Filed as Exhibit 3.1 to registrant's Form SF-3 filed on February 24,
 2022, and incorporated herein by reference).

 Exhibit 3.2:

 Limited
 Liability Company Agreement of CNH Capital Receivables LLC (Filed as Exhibit 3.2 to registrant's Form SF-3 filed
 on February 24, 2022, and incorporated herein by reference).

 Exhibit 4.1:

 Indenture,
 dated as of March 1, 2021, between CNH Equipment Trust 2021-A and Citibank, N.A. (Filed as Exhibit 4.1 of the Trust's
 Current Report on Form 8-K filed on March 15, 2021, and incorporated herein by reference).

 Exhibit 4.2:

 Trust
 Agreement, dated as of February 19, 2021, among CNH Capital Receivables LLC and Wilmington Trust Company, as trustee (Filed
 as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on March 11, 2021, and incorporated herein by
 reference).

 Exhibit 4.3:

 Sale
 and Servicing Agreement, dated as of March 1, 2021, among CNH Capital Receivables LLC, New Holland Credit Company, LLC and CNH
 Equipment Trust 2021-A (Filed as Exhibit 4.2 of the Trust's Current Report on Form 8-K filed on March 15, 2021,

 Exhibit 4.4:

 Purchase
 Agreement, dated as of March 1, 2021, between CNH Capital Receivables LLC and CNH Industrial Capital America LLC (Filed as Exhibit 4.3
 of the Trust's Current Report on Form 8-K filed on March 15, 2021, and incorporated herein by reference).

 Exhibit 4.5:

 Administration
 Agreement, dated as of March 1, 2021, among New Holland Credit Company, LLC, CNH Equipment Trust 2021-A, Wilmington Trust Company
 and Citibank, N.A. (Filed as Exhibit 4.4 of the Trust's Current Report on Form 8-K filed on March 15, 2021,

 Exhibit 4.6:

 Asset
 Representations Review Agreement, dated as of March 1, 2021, among CNH Equipment Trust 2021-A, New Holland Credit Company, LLC
 and Clayton Fixed Income Services LLC, as asset representations reviewer (Filed as Exhibit 4.5 of the Trust's Current
 Report on Form 8-K filed on March 15, 2021, and incorporated herein by reference).

 Exhibit 4.7:

 Memorandum
 of Understanding, dated as of March 15, 2021, among CNH Industrial Capital America LLC, CNH Capital Receivables LLC, CNH Equipment
 Trust 2021-A and Citibank, N.A., as indenture trustee (filed as Exhibit 4.6 of the Trust's Current Report on Form 8-K
 filed on March 15, 2021, and incorporated herein by reference).

 Exhibit 4.8:

 Letter
 Agreement, dated as of March 15, 2021, among New Holland Credit Company, LLC and Wilmington Trust Company, as trustee (filed
 as Exhibit 4.7 of the Trust's Current Report on Form 8-K filed on March 15, 2021, and incorporated herein by
 reference).

 Exhibit 10.1:

 Underwriting
 Agreement, dated as of March 9, 2021, among CNH Capital Receivables LLC, CNH Industrial Capital America LLC, and Citigroup Global
 Markets Inc., J.P. Morgan Securities LLC, Rabo Securities USA, Inc. and SG Americas Securities, LLC, as representatives of the
 several underwriters (Filed as Exhibit 1.1 of the Trust's Current Report on Form 8-K filed on March 11, 2021,

 Exhibit 31.1:

 Section 302
 Certification.

 Exhibit 33.1:

 Certification
 Regarding Compliance with Applicable Servicing Criteria (New Holland Credit Company, LLC).

 Exhibit 33.2:

 Management's
 Assessment of Compliance (Citibank, N.A.).

 Exhibit 34.1:

 Report
 of Independent Registered Public Accounting Firm (Deloitte & Touche LLP).

 Exhibit 34.2:

 Report
 of Independent Registered Public Accounting Firm (KPMG LLP).

 Exhibit 35.1:

 Servicing
 Compliance Statement of New Holland Credit Company, LLC.

 SIGNATURES

 Pursuant to the
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

 March 24,
2025

 CNH
 EQUIPMENT TRUST 2021-A

 By:

 New
 Holland Credit Company, LLC, as Servicer

 By:

 /s/
 Douglas MacLeod

 Name:

 Douglas
 MacLeod

 Title:

 President
 (senior officer in charge of the servicing function)

 SUPPLEMENTAL
INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED
SECURITIES PURSUANT TO SECTION 12 OF THE ACT.

 No annual report
or proxy materials have been sent to securityholders and the registrant does not intend to furnish such report or proxy materials to
securityholders subsequent to the filing of this Annual Report on Form 10-K.