Form 8-K CarMax Select Receivable For: Jun 16 Filed by: CARMAX AUTO FUNDING LLC

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 16, 2026

CARMAX SELECT RECEIVABLES TRUST 2026-B

(Issuing Entity with respect to Securities)

(Central Index Key Number: 0002137261)

CARMAX BUSINESS SERVICES, LLC

(Sponsor with respect to Securities)

(Central Key Index Number: 0001601902)

CARMAX AUTO FUNDING LLC

(Depositor with respect to Securities)

(Central Key Index Number: 0001259380)

12800 Tuckahoe Creek Parkway, Suite 400

Richmond, VA 23238-1115

(Address of principal executive offices of registrant, including zip code)

Registrant’s telephone number, including area code: (804) 935-4512

Former name or former address, if changed since last report: Not applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (§230.405 of this chapter) or Rule 12b-2 of the Exchange Act (§240.12b-2 of this chapter).

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.  ☐

Item 8.01. Other Events

CarMax Auto Funding LLC, a Delaware limited liability company (the “Depositor”), has registered an issuance of asset backed notes on Form SF-3 (Commission File No. 333-288943), filed on July 25, 2025 (the “Registration Statement”).

On June 16, 2026 (the “Closing Date”), the Depositor entered into an Amended and Restated Trust Agreement, a copy of which is filed as an exhibit hereto, with Wilmington Trust, National Association, as owner trustee (the “Owner Trustee”), relating to CarMax Select Receivables Trust 2026-B (the “Issuing Entity”), a Delaware statutory trust created on May 6, 2026. On the Closing Date, the Issuing Entity, as grantor trust seller, entered into an Amended and Restated Grantor Trust Agreement, a copy of which is filed as an exhibit hereto, with Wilmington Trust, National Association, as grantor trust trustee (the “Grantor Trust Trustee”), relating to CarMax Select Receivables Grantor Trust 2026-B (the “Grantor Trust”), a Delaware statutory trust created on May 6, 2026. On the Closing Date, CarMax Business Services, LLC (“CarMax Business Services”) and the Depositor entered into a Receivables Purchase Agreement, a copy of which is filed as an exhibit hereto, pursuant to which specified motor vehicle retail installment sale contracts and related property were sold by CarMax Business Services to the Depositor. On the Closing Date, the Issuing Entity, the Grantor Trust, the Depositor and CarMax Business Services, as servicer, entered into a Sale and Servicing Agreement, a copy of which is filed as an exhibit hereto, pursuant to which motor vehicle retail installment sale contracts and related property were transferred by the Depositor to the Issuing Entity, and the Issuing Entity and the Grantor Trust engaged CarMax Business Services to service those assets. On the Closing Date, the Issuing Entity and the Grantor Trust entered into a Receivables Contribution Agreement, a copy of which is filed as an exhibit hereto, pursuant to which motor vehicle retail installment sale contracts and related property were transferred by the Issuing Entity to the Grantor Trust. On the Closing Date, the Issuing Entity issued to the Depositor the Class A-1 Asset-backed Notes, Class A-2 Asset-backed Notes, Class A-3 Asset-backed Notes, Class B Asset-backed Notes, Class C Asset-backed Notes, Class D Asset-backed Notes and Class E Asset-backed Notes, having an aggregate original principal amount of $600,000,000, pursuant to an Indenture entered into between the Issuing Entity, the Grantor Trust and U.S. Bank Trust Company, National Association, as indenture trustee (the “Indenture Trustee”), a copy of which is filed as an exhibit hereto. On the Closing Date, the Issuing Entity, the Grantor Trust, the Indenture Trustee and CarMax Business Services, as administrator, entered into an Administration Agreement, a copy of which is filed as an exhibit hereto, pursuant to which the administrator agreed to perform certain duties and obligations of the Issuing Entity, the Grantor Trust, the Owner Trustee and the Grantor Trust Trustee under the transaction documents. On the Closing Date, the Issuing Entity, the Grantor Trust, CarMax Business Services, as servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer (the “Asset Representations Reviewer”), entered into an Asset Representations Review Agreement, a copy of which is filed as an exhibit hereto, pursuant to which the Asset Representations Reviewer agreed to perform, upon satisfaction of certain trigger events, reviews of certain receivables for compliance with the representations and warranties made by CarMax Business Services and the Depositor about such receivables. On the Closing Date, the Issuing Entity, CarMax Business Services, as servicer, the Indenture Trustee and U.S. Bank National Association, as securities intermediary (the “Securities Intermediary”), entered into a Securities Account Control Agreement, a copy of which is filed as an exhibit hereto, pursuant to which the Securities Intermediary will maintain certain accounts.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the depositor has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.