<PAGE> PAGE 1
000 B000000 03/31/99
000 C000000 0000315543
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 IAI INVESTMENT FUND IV
001 B000000 811-3004
001 C000000 6123762600
002 A000000 3700 FIRST BANK PLACE, 601 2ND AVE SOUTH
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55402
002 D020000 4327
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 IAI REGIONAL FUND
007 C030100 N
007 C010200 2
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 INVESTMENT ADVISERS, INC.
008 B00AA01 A
008 C00AA01 801-3784
008 D01AA01 MINNEAPOLIS
008 D02AA01 MN
008 D03AA01 55402
008 D04AA01 4327
010 A00AA01 INVESTMENT ADVISERS, INC.
010 B00AA01 8013784
010 C01AA01 MINNEAPOLIS
010 C02AA01 MN
010 C03AA01 55402
010 C04AA01 4327
011 A00AA01 INVESTMENT ADVISERS, INC.
011 B00AA01 8-013784
011 C01AA01 MINNEAPOLIS
<PAGE> PAGE 2
011 C02AA01 MN
011 C03AA01 55402
011 C04AA01 4327
012 A00AA01 INVESTMENT ADVISERS, INC.
012 B00AA01 84-1664
012 C01AA01 MINNEAPOLIS
012 C02AA01 MN
012 C03AA01 55402
012 C04AA01 4327
013 A00AA01 KPMG PEAT MARWICK, LLP
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
014 A00AA01 DELETE
015 A00AA01 NORWEST BANK MINNESOTA, N.A.
015 B00AA01 C
015 C01AA01 MINNEAPOLIS
015 C02AA01 MN
015 C03AA01 55479
015 C04AA01 0065
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 15
019 C00AA00 INVESTADVS
020 A000001 MONTGOMERY
020 B000001 94-1701676
020 C000001 26
020 A000002 POSIT INVESTMENT TECHNOLOGY GROUP
020 C000002 24
020 A000003 LEHMAN BROTHERS
020 B000003 13-2518466
020 C000003 20
020 A000004 PAINE WEBBER
020 B000004 13-2638166
020 C000004 18
020 A000005 ALEX BROWN
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020 C000005 17
020 A000006 MERRILL LYNCH
020 B000006 13-5674085
020 C000006 16
020 A000007 GOLDMAN SACHS & CO
020 B000007 13-5108880
020 C000007 12
020 A000008 JEFFERIES & CO
020 B000008 95-2622900
020 C000008 11
020 A000009 OTA LIMITED PARTNERSHIP
020 B000009 13-3545921
020 C000009 10
<PAGE> PAGE 3
020 A000010 PIPER JAFFRAY
020 B000010 41-0953246
020 C000010 9
021 000000 242
022 A000001 GE CAPITAL
022 C000001 1092357
022 D000001 0
022 A000002 ASSOCIATES
022 C000002 815969
022 D000002 0
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022 C000003 104833
022 D000003 9386
022 A000004 MERRILL LYNCH
022 B000004 13-5674085
022 C000004 109743
022 D000004 0
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022 C000005 19245
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022 C000006 19997
022 D000006 0
022 A000007 PIPER JAFFRAY
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022 C000007 784
022 D000007 10111
022 A000008 DAIN BOSWORTH
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022 D000008 7404
022 A000009 BAIRD, RW
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022 C000010 6562
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024 00AA00 N
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<PAGE> PAGE 4
025 D00AA07 0
025 D00AA08 0
026 A000000 N
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026 F000000 N
026 G010000 N
026 G020000 N
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049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
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053 B00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 Y
054 E00AA00 Y
054 F00AA00 Y
054 G00AA00 Y
<PAGE> PAGE 5
054 H00AA00 Y
054 I00AA00 Y
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 Y
058 A00AA00 N
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060 A00AA00 Y
060 B00AA00 Y
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077 A000000 Y
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078 000000 N
086 A010000 0
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028 A010100 17035
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028 C010100 19099
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<PAGE> PAGE 6
028 F040100 30074
028 G010100 79510
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028 G040100 184760
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045 000100 Y
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055 A000100 N
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<PAGE> PAGE 7
062 P000100 0.0
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066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
<PAGE> PAGE 8
070 R020100 N
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071 B000100 358875
071 C000100 362876
071 D000100 53
072 A000100 12
072 B000100 792
072 C000100 3143
072 D000100 0
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072 V000100 0
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072 Y000100 95
072 Z000100 -816
072AA000100 82691
072BB000100 60181
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072DD020100 0
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<PAGE> PAGE 9
074 J000100 273
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074 M000100 66
074 N000100 279226
074 O000100 3548
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074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 0
074 S000100 0
074 T000100 275678
074 U010100 12971
074 U020100 0
074 V010100 21.25
074 V020100 0.00
074 W000100 0.0000
074 X000100 12997
074 Y000100 1066
075 A000100 0
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076 000100 0.00
080 A000100 ICI MUTUAL INSURANCE COMPANY
080 C000100 5000
081 A000100 Y
081 B000100 21
082 A000100 Y
082 B000100 75
083 A000100 N
083 B000100 0
084 A000100 N
084 B000100 0
085 A000100 Y
085 B000100 N
SIGNATURE JILL STEVENSON
TITLE MANAGER MUTUAL FUNDS
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<SERIES>
<NUMBER> 01
<NAME> IAI REGIONAL FUND
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<S> <C>
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<PERIOD-START> APR-01-1998
<PERIOD-END> MAR-31-1999
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<TOTAL-LIABILITIES> 3548
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<SHARES-COMMON-PRIOR> 19334
<ACCUMULATED-NII-CURRENT> 903
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<OVERDISTRIBUTION-GAINS> 0
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> (816)
<REALIZED-GAINS-CURRENT> 22510
<APPREC-INCREASE-CURRENT> (61993)
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<NET-CHANGE-IN-ASSETS> (233878)
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<PER-SHARE-NII> (.06)
<PER-SHARE-GAIN-APPREC> (1.81)
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<EXPENSE-RATIO> 1.25
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
