Letterhead of Merrill Lynch, Pierce, Fenner Incorporated
May 13, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D. C. 20549
Re: Post-Effective Amendment No. 21 to Form N-1A
and Amendment No. 18 to the Registration Statement
under The Investment Company Act of 1940 for
The GNMA Fund Investment Accumulation Program, Inc.
1940 Act Number 811-2788
1933 Act Number 2-60367
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Dear Sirs:
On behalf of The GNMA Fund Investment Accumulation
Program, Inc. (the "Registrant"), the Registrant hereby
certifies pursuant to Rule 497(j) of the Securities Act of
1933 that the form of prospectus that would have been filed
under paragraph (c) of Rule 497 would not have differed from
that contained in the above-referenced amendments, the text
of which was filed electronically via EDGAR on April 29, 1996.
Very truly yours,
/s/ Daniel C. Tyler
Vice President
