<PAGE> PAGE 1
000 A000000 09/30/98
000 C000000 0000205010
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 TAX FREE INVESTMENTS CO.
001 B000000 811-2731
001 C000000 7136261919
002 A000000 11 GREENWAY PLAZA, SUITE 100
002 B000000 HOUSTON
002 C000000 TX
002 D010000 77046
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C010200 2
007 C020200 CASH RESERVE PORTFOLIO
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 AIM ADVISORS INC.
008 B00AA01 A
008 C00AA01 801-12313
008 D01AA01 HOUSTON
008 D02AA01 TX
008 D03AA01 77046
011 A00AA01 FUND MANAGEMENT COMPANY
011 B00AA01 8-41848
011 C01AA01 HOUSTON
011 C02AA01 TX
011 C03AA01 77046
012 A00AA01 AIM FUND SERVICES, INC.
012 B00AA01 84-5432
012 C01AA01 HOUSTON
012 C02AA01 TX
012 C03AA01 77046
012 C04AA01 1173
<PAGE> PAGE 2
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 HOUSTON
013 B02AA01 TX
013 B03AA01 77002
015 A00AA01 THE BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10286
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 91
019 C00AA00 AIMFUNDSAA
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 MORGAN (J.P.) SECURITIES INC.
022 B000001 13-3224016
022 C000001 466423
022 D000001 364715
022 A000002 PAINE WEBBER INC.
022 B000002 13-2638166
022 C000002 328059
022 D000002 309232
022 A000003 MORGAN STANLEY & CO. INC.
022 B000003 13-2655998
022 C000003 246986
022 D000003 246918
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004 215221
022 D000004 110895
022 A000005 FIRST UNION CAPITAL MARKETS
022 B000005 56-1529080
022 C000005 162844
022 D000005 138640
022 A000006 FIRST CHICAGO CAPITAL MARKETS, INC.
022 B000006 36-3595942
022 C000006 124424
022 D000006 134134
022 A000007 FIRST ALBANY CORP.
022 B000007 14-1391446
<PAGE> PAGE 3
022 C000007 112784
022 D000007 83655
022 A000008 SALOMON SMITH BARNEY
022 B000008 13-1912900
022 C000008 113162
022 D000008 82358
022 A000009 BT ALEX. BROWN INC.
022 B000009 52-1319768
022 C000009 92124
022 D000009 92500
022 A000010 BNY CAPITAL MARKETS, INC.
022 B000010 13-3878175
022 C000010 78543
022 D000010 81196
023 C000000 2433245
023 D000000 2001107
024 00AA00 N
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A01AA00 654184
028 A02AA00 332
028 A03AA00 0
028 A04AA00 732845
028 B01AA00 693509
028 B02AA00 421
028 B03AA00 0
028 B04AA00 581938
028 C01AA00 515536
028 C02AA00 408
028 C03AA00 0
028 C04AA00 602471
028 D01AA00 740124
028 D02AA00 352
028 D03AA00 0
028 D04AA00 661528
028 E01AA00 544508
028 E02AA00 375
028 E03AA00 0
028 E04AA00 486280
028 F01AA00 404255
028 F02AA00 379
028 F03AA00 0
028 F04AA00 500971
<PAGE> PAGE 4
028 G01AA00 3552116
028 G02AA00 2267
028 G03AA00 0
028 G04AA00 3566033
028 H00AA00 0
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
042 A00AA00 0
042 B00AA00 0
042 C00AA00 100
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 95
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 500000
048 A02AA00 0.250
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
<PAGE> PAGE 5
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 500000
048 K02AA00 0.200
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 10000
062 A00AA00 Y
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 106.7
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
<PAGE> PAGE 6
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 41
063 B00AA00 0.0
064 A00AA00 Y
064 B00AA00 N
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00 0
071 B00AA00 0
<PAGE> PAGE 7
071 C00AA00 0
071 D00AA00 0
072 A00AA00 6
072 B00AA00 18890
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 1172
072 G00AA00 0
072 H00AA00 0
072 I00AA00 83
072 J00AA00 14
072 K00AA00 0
072 L00AA00 14
072 M00AA00 7
072 N00AA00 0
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 32
072 R00AA00 13
072 S00AA00 23
072 T00AA00 190
072 U00AA00 0
072 V00AA00 0
072 W00AA00 32
072 X00AA00 1580
072 Y00AA00 414
072 Z00AA00 17724
072AA00AA00 4
072BB00AA00 0
072CC01AA00 0
072CC02AA00 0
072DD01AA00 16522
072DD02AA00 1202
072EE00AA00 0
073 A01AA00 0.0171
073 A02AA00 0.0159
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 54
074 B00AA00 0
074 C00AA00 1030589
074 D00AA00 0
074 E00AA00 0
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 5870
074 K00AA00 0
074 L00AA00 5348
<PAGE> PAGE 8
074 M00AA00 102
074 N00AA00 1041963
074 O00AA00 73197
074 P00AA00 177
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 2868
074 S00AA00 0
074 T00AA00 965721
074 U01AA00 892757
074 U02AA00 72962
074 V01AA00 1.00
074 V02AA00 0.00
074 W00AA00 0.9999
074 X00AA00 66
074 Y00AA00 0
075 A00AA00 1043524
075 B00AA00 0
076 00AA00 0.00
077 A000000 Y
077 C000000 Y
077 D000000 Y
077 J000000 Y
SIGNATURE JOHN J. ARTHUR
TITLE SR. V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary information from the Institutional Cash
Reserve Portfolio of Tax-Free Investments Co. September 30, 1998
semi-annual report.
</LEGEND>
<CIK> 0000205010
<NAME> TAX-FREE INVESTMENTS CO.
<SERIES>
<NUMBER> 2
<NAME> INSTITUTIONAL CASH RESERVE SHARES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 1030589226
<INVESTMENTS-AT-VALUE> 1030589226
<RECEIVABLES> 11218324
<ASSETS-OTHER> 155098
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1041962648
<PAYABLE-FOR-SECURITIES> 73196625
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3045428
<TOTAL-LIABILITIES> 76242053
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 965718947
<SHARES-COMMON-STOCK> 965718947
<SHARES-COMMON-PRIOR> 977368743
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1648
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 965720595
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 18890217
<OTHER-INCOME> 0
<EXPENSES-NET> 1166432
<NET-INVESTMENT-INCOME> 17723785
<REALIZED-GAINS-CURRENT> 4129
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 17727914
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17723785)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3552115567
<NUMBER-OF-SHARES-REDEEMED> (3566032598)
<SHARES-REINVESTED> 2267235
<NET-CHANGE-IN-ASSETS> (11645667)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2481)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1171722
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1580665
<AVERAGE-NET-ASSETS> 967591
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary information from the Private
Investment Class of the Cash Reserve Portfolio of Tax-Free
Investments Co. September 30, 1998 semi-annual report.
</LEGEND>
<CIK> 0000205010
<NAME> TAX-FREE INVESTMENTS CO.
<SERIES>
<NUMBER> 5
<NAME> PRIVATE INVESTMENT CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-END> SEP-30-1998
<INVESTMENTS-AT-COST> 1030589226
<INVESTMENTS-AT-VALUE> 1030589226
<RECEIVABLES> 11218324
<ASSETS-OTHER> 155098
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1041962648
<PAYABLE-FOR-SECURITIES> 73196625
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3045428
<TOTAL-LIABILITIES> 76242053
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 965718947
<SHARES-COMMON-STOCK> 965718947
<SHARES-COMMON-PRIOR> 977368743
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1648
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 965720595
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 18890217
<OTHER-INCOME> 0
<EXPENSES-NET> 1166432
<NET-INVESTMENT-INCOME> 17723785
<REALIZED-GAINS-CURRENT> 4129
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 17727914
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17723785)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3552115567
<NUMBER-OF-SHARES-REDEEMED> (3566032598)
<SHARES-REINVESTED> 2267235
<NET-CHANGE-IN-ASSETS> (11645667)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2481)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1171722
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1580665
<AVERAGE-NET-ASSETS> 75931
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
