In this letter, slow and fast trap states in metal-oxide-semiconductor (MOS) capacitors fabricated on recessed AlGaN/GaN heterostructures were studied by frequency dependent conductance measurements. In particular, the comparison of devices before and after annealing in forming gas allowed to ascribe the fast states (with characteristic response time in the range of 5–50 μs) to SiO2/GaN “interface traps,” and the slow states (50–100 μs) to “border traps” located few nanometers inside the SiO2 layer. These results can be important to predict and optimize the threshold voltage stability of hybrid MOS-based transistors on GaN.