X0101 EFFECT 33 LIVE 2016-12-22 13:30:00

N-14

0000752737 OPPENHEIMER VARIABLE ACCOUNT FUNDS 333-214735 0000752737 OPPENHEIMER VARIABLE ACCOUNT FUNDS S000010338 Oppenheimer Main Street Fund/VA 0000752737 OPPENHEIMER VARIABLE ACCOUNT FUNDS S000010332 Oppenheimer Equity Income Fund/VA C000028588 Non-Service 0000752737 OPPENHEIMER VARIABLE ACCOUNT FUNDS S000010338 Oppenheimer Main Street Fund/VA 0000752737 OPPENHEIMER VARIABLE ACCOUNT FUNDS S000010332 Oppenheimer Equity Income Fund/VA C000028589 Service