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: February 28, 2005

                  ReliaStar Life Insurance Company of New York
                  --------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    NEW YORK
                            (State of Incorporation)

                                   333-114338
                            (Commission File Number)

                                   #13-3919096
                      (IRS Employer Identification Number)

1000 Woodbury Road, Suite 208, Woodbury, NY                      11797
(Address of principal executive offices)                       (Zip Code)

Registrant's telephone number, including area code ............800-963-9539


<PAGE>

THIS FILING IS MADE IN  ACCORDANCE  WITH ITEM NO. 1.01 OF SECTION 1 OF FORM 8-K:
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On February 22, 2005,  ReliaStar  Life  Insurance  Company of New York  ("RLNY")
entered  into a new,  one-year  unsecured  reciprocal  loan  agreement  with ING
America  Insurance  Holdings,  Inc.  ("ING-AIH"),  a  Delaware  corporation  and
indirect parent of RLNY (the "Agreement"). The Agreement replaced the reciprocal
loan  agreement  dated  January 1, 2004 between RLNY and ING-AIH that expired by
its terms on January 30, 2005. The purpose of the Agreement is to facilitate the
financing of the short term cash  requirements of each party to the agreement by
permitting each party to extend  financing to, and borrow from, the other party.
The Agreement provides that the maximum outstanding amount (including  principal
and  accrued  interest)  that RLNY may borrow from  ING-AIH or that  ING-AIH may
borrow from RLNY shall not exceed five percent  (5%) of the  admitted  assets of
RLNY as of December 31 of the applicable preceding year and as determined by New
York Insurance Law Sections 107 (a)(3) and 1301. Interest on any borrowing under
the  Agreement  will be charged at a rate based on the lowest  quoted  effective
interest  rate of U.S.  commercial  paper  available  for  purchase  with a term
equivalent to the term of borrowing under the Agreement.

<PAGE>
                                   SIGNATURES

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

                  ReliaStar Life Insurance Company of New York
                                  (Registrant)


Date: February 28, 2005                /s/Linda E. Senker
                                       ------------------
                                          Linda E. Senker
[{"type": "8-K", "sequence": "1", "filename": "form8k.txt", "description": "RECIPROCAL LOAN AGREEMENT", "secsgml_size_bytes": 2989}]
{"company-data": {"conformed-name": "RELIASTAR LIFE INSURANCE CO OF NEW YORK", "cik": "0001163710", "assigned-sic": "6351", "irs-number": "530242530", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-75938", "film-number": "05643787"}, "business-address": {"street1": "1000 WOODBURY ROAD", "street2": "SUITE 208", "city": "WOODBURY", "state": "NY", "zip": "11797", "phone": "610-425-3400"}, "mail-address": {"street1": "1475 DUNWOODY DRIVE", "city": "WEST CHESTER", "state": "PA", "zip": "19380-1478"}}
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: February 28, 2005

                  ReliaStar Life Insurance Company of New York
                  --------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    NEW YORK
                            (State of Incorporation)

                                   333-114338
                            (Commission File Number)

                                   #13-3919096
                      (IRS Employer Identification Number)

1000 Woodbury Road, Suite 208, Woodbury, NY                      11797
(Address of principal executive offices)                       (Zip Code)

Registrant's telephone number, including area code ............800-963-9539
THIS FILING IS MADE IN  ACCORDANCE  WITH ITEM NO. 1.01 OF SECTION 1 OF FORM 8-K:
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On February 22, 2005,  ReliaStar  Life  Insurance  Company of New York  ("RLNY")
entered  into a new,  one-year  unsecured  reciprocal  loan  agreement  with ING
America  Insurance  Holdings,  Inc.  ("ING-AIH"),  a  Delaware  corporation  and
indirect parent of RLNY (the "Agreement"). The Agreement replaced the reciprocal
loan  agreement  dated  January 1, 2004 between RLNY and ING-AIH that expired by
its terms on January 30, 2005. The purpose of the Agreement is to facilitate the
financing of the short term cash  requirements of each party to the agreement by
permitting each party to extend  financing to, and borrow from, the other party.
The Agreement provides that the maximum outstanding amount (including  principal
and  accrued  interest)  that RLNY may borrow from  ING-AIH or that  ING-AIH may
borrow from RLNY shall not exceed five percent  (5%) of the  admitted  assets of
RLNY as of December 31 of the applicable preceding year and as determined by New
York Insurance Law Sections 107 (a)(3) and 1301. Interest on any borrowing under
the  Agreement  will be charged at a rate based on the lowest  quoted  effective
interest  rate of U.S.  commercial  paper  available  for  purchase  with a term
equivalent to the term of borrowing under the Agreement.
SIGNATURES

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

                  ReliaStar Life Insurance Company of New York
                                  (Registrant)

Date: February 28, 2005                /s/Linda E. Senker
                                       ------------------
                                          Linda E. Senker