FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * HELLWEG KURT D   2. Issuer Name and Ticker or Trading Symbol GUARANTY FEDERAL BANCSHARES INC [GFED] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 4083 EAGLESCLIFFE 3. Date of Earliest Transaction (Month/Day/Year) 09/14/2011 (Street) SPRINGFIELD, MO 65809 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price COMMON STOCK 09/14/2011   P   751 A $ 4.5 33,137 I SELF TRUST COMMON STOCK 09/16/2011   P   96 A $ 4.5 33,233 I SELF TRUST COMMON STOCK 09/21/2011   P   1,200 A $ 4.5 34,433 I SELF TRUST COMMON STOCK 09/26/2011   P   172 A $ 4.5 34,605 I SELF TRUST COMMON STOCK 09/29/2011   P   43 A $ 4.5 34,648 I SELF TRUST COMMON STOCK 09/30/2011   P   1,738 A $ 4.5 36,386 I SELF TRUST COMMON STOCK               8,112 (1) I RESTRICTED COMMON STOCK               35,000 (2) D   COMMON STOCK               3,086 (3) I DRIP

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HELLWEG KURT D 4083 EAGLESCLIFFE SPRINGFIELD, MO 65809	X

Signatures

KURT D. HELLWEG		04/11/2014
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The total of restricted common stock (8,112) takes into account the number of shares owned in September 2011 of 2,119 and Form 4 filed January 2012 for 2,315 shares, Form 4 filed January 2013 for 2,072 shares and Form 4 filed February 2014 for 1,606 shares for a total of 8,112 shares.
(2)	The total number of shares of common stock owned directly was purchased in March 2014 and shown on Form 4 filed March 2014.
(3)	The total number of shares of common stock owned by Mr. Hellweg through his Dividend Reinvestment Plan account which has not changed since September 30, 2011.

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