CALVERT TAX FREE RESERVES
NSAR-B, 1996-02-29
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<PAGE>      PAGE  1
000 B000000 12/31/95
000 C000000 0000319676
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 CALVERT TAX-FREE RESERVES
001 B000000 811-3101
001 C000000 3019514881
002 A000000 4550 MONTGOMERY AVENUE SUITE 1000N
002 B000000 BETHESDA
002 C000000 MD
002 D010000 20814
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  6
007 C010100  1
007 C020100 MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 LIMITED TERM PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 LONG TERM PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 CALIFORNIA MONEY MARKET FUND
007 C030400 N
007 C010500  5
007 C020500 NEW JERSEY MONEY MAREKT FUND
007 C030500 N
007 C010600  6
007 C020600 VERMONT MUNICIPAL PORTFOLIO
007 C030600 N
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
022 A000001 MERRILL LYNCH
022 C000001   1367384
022 D000001    765095
022 A000002 BANKERS TRUST
022 C000002    766290
022 D000002    588482
022 A000003 PAINE WEBBER
<PAGE>      PAGE  2
022 C000003    599294
022 D000003    398800
022 A000004 J.P. MORGAN
022 C000004    314267
022 D000004    466858
022 A000005 LEHMAN BORTHERS
022 C000005    370168
022 D000005    198089
022 A000006 GOLDMAN SACHS
022 C000006    229047
022 D000006     83082
022 A000007 BANK OF AMERICA
022 C000007    187765
022 D000007     80700
022 A000008 PRUDENTIAL SECURITIES
022 C000008    158317
022 D000008    101566
022 A000009 BEAR STEARNS
022 C000009    160069
022 D000009     38990
022 A000010 MORGAN GUARRANTY
022 C000010     99940
022 D000010      7402
023 C000000    5789462
023 D000000    3839268
077 A000000 Y
077 B000000 Y
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00     9000
081 A00AA00 Y
081 B00AA00  38
082 A00AA00 N
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083 A00AA00 N
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085 B00AA00 N
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028 C040100    612982
<PAGE>      PAGE  3
028 D010100    754441
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037  000100 N
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062 I000100   0.0
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
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062 O000100   0.0
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063 A000100  27
063 B000100  0.0
070 A010100 Y
<PAGE>      PAGE  4
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
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071 A000100         0
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<PAGE>      PAGE  5
072 M000100      145
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<PAGE>      PAGE  6
074 V020100     1.00
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033  000200     26
037  000200 N
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041  000200 Y
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042 C000200   0
042 D000200  75
<PAGE>      PAGE  7
042 E000200  25
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062 C000200   0.0
062 D000200   0.0
062 E000200  61.1
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200   0.0
062 O000200  38.4
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
063 A000200 351
063 B000200  0.0
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
<PAGE>      PAGE  8
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200    118022
071 B000200    287910
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072DD020200     1109
072EE000200        0
073 A010200   0.9100
073 A020200   0.7400
073 B000200   0.0000
<PAGE>      PAGE  9
073 C000200   0.0000
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074 B000200        0
074 C000200   124146
074 D000200   364322
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074 G000200        0
074 H000200        0
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074 K000200        0
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074 M000200       23
074 N000200   503474
074 O000200    14112
074 P000200      345
074 Q000200        0
074 R010200        0
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074 R030200        0
074 R040200     1253
074 S000200        0
074 T000200   487764
074 U010200    42690
074 U020200     2814
074 V010200    10.72
074 V020200    10.68
074 W000200   0.0000
074 X000200    11244
074 Y000200        0
075 A000200        0
075 B000200   529970
076  000200     0.00
028 A010300       434
028 A020300       196
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028 A040300       897
028 B010300      2395
028 B020300       203
028 B030300         0
028 B040300       668
028 C010300      1343
028 C020300       201
028 C030300         0
028 C040300       782
028 D010300       452
028 D020300       206
028 D030300         0
028 D040300       375
028 E010300       541
<PAGE>      PAGE  10
028 E020300       190
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028 E040300       534
028 F010300       551
028 F020300       462
028 F030300         0
028 F040300       526
028 G010300      5716
028 G020300      1458
028 G030300         0
028 G040300      3782
028 H000300      7174
029  000300 Y
030 A000300     62
030 B000300  3.75
030 C000300  0.00
031 A000300      9
031 B000300      0
032  000300     38
033  000300     15
037  000300 N
038  000300      0
041  000300 Y
042 A000300   0
042 B000300   0
042 C000300   0
042 D000300 100
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300   0
043  000300     58
044  000300     19
062 A000300 Y
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   9.5
062 F000300   0.0
062 G000300   0.0
062 H000300   0.0
062 I000300   0.0
062 J000300   0.0
062 K000300   0.3
062 L000300   0.0
062 M000300   0.0
062 N000300   0.0
062 O000300  88.4
062 P000300   0.0
062 Q000300   0.0
062 R000300   0.0
<PAGE>      PAGE  11
063 A000300   0
063 B000300 18.0
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 Y
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 N
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 N
070 O010300 N
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300     30226
071 B000300     29018
071 C000300     50500
071 D000300   57
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<PAGE>      PAGE  12
072 J000300        0
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072EE000300        0
073 A010300   0.9500
073 A020300   0.7800
073 B000300   0.9000
073 C000300   0.0000
074 A000300        3
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074 C000300     5125
074 D000300    53090
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074 S000300        0
074 T000300    59037
<PAGE>      PAGE  13
074 U010300     3314
074 U020300       98
074 V010300    17.31
074 V020300    17.13
074 W000300   0.0000
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074 Y000300        0
075 A000300        0
075 B000300    53355
076  000300     0.00
028 A010400     25826
028 A020400       687
028 A030400         0
028 A040400     26108
028 B010400     33353
028 B020400       775
028 B030400         0
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028 C010400     24099
028 C020400       974
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028 E010400     40540
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028 E040400     38464
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028 G010400    192780
028 G020400      5188
028 G030400         0
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037  000400 N
038  000400      0
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042 E000400   2
042 F000400   0
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042 H000400   0
043  000400    120
<PAGE>      PAGE  14
044  000400     -7
062 A000400 Y
062 B000400   0.0
062 C000400   0.0
062 D000400   0.0
062 E000400  99.2
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
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062 J000400   0.0
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062 L000400   0.0
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070 A010400 Y
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070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 N
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 N
070 O020400 N
<PAGE>      PAGE  15
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
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071 A000400         0
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<PAGE>      PAGE  16
074 E000400        0
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074 W000400   0.9996
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075 A000400   285388
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028 A010500      2296
028 A020500        68
028 A030500         0
028 A040500      3981
028 B010500      2779
028 B020500        71
028 B030500         0
028 B040500      2518
028 C010500      1975
028 C020500        88
028 C030500         0
028 C040500      2787
028 D010500      3128
028 D020500        67
028 D030500         0
028 D040500      2361
028 E010500      1974
028 E020500        70
028 E030500         0
028 E040500      3989
028 F010500      1853
028 F020500        89
<PAGE>      PAGE  17
028 F030500         0
028 F040500      3074
028 G010500     14005
028 G020500       453
028 G030500         0
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028 H000500         0
037  000500 N
038  000500      0
040  000500 N
041  000500 N
042 A000500   0
042 B000500   0
042 C000500   0
042 D000500   0
042 E000500   0
042 F000500   0
042 G000500   0
042 H000500   0
043  000500      0
044  000500      0
062 A000500 Y
062 B000500   0.0
062 C000500   0.0
062 D000500   0.0
062 E000500  96.8
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
062 K000500   0.0
062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
062 O000500   0.0
062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
063 A000500  31
063 B000500  0.0
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
<PAGE>      PAGE  18
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500         0
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<PAGE>      PAGE  19
072 V000500        0
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<PAGE>      PAGE  20
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<PAGE>      PAGE  21
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063 B000600 14.0
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 Y
070 E020600 Y
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 N
070 K020600 N
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
070 O010600 N
070 O020600 N
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<PAGE>      PAGE  22
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<PAGE>      PAGE  23
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035  000700      0
036 B000700      0
SIGNATURE   WILLIAM TARTIKOFF                            
TITLE       GENERAL COUNSEL     
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

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<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
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   <NAME> MONEY MARKET PORTFOLIO, CLASS O
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
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   <NUMBER> 011
   <NAME> MONEY MARKET PORTFOLIO, CLASS MMP
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
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   <NUMBER> 021
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
<SERIES>
   <NUMBER> 031
   <NAME> LONG-TERM PORTFOLIO, CLASS A
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
<SERIES>
   <NUMBER> 040
   <NAME> CALIFORNIA MONEY MARKET FUND
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<S>                             <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
<SERIES>
   <NUMBER> 050
   <NAME> NEW JERSEY MONEY MARKET
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
<SERIES>
   <NUMBER> 061
   <NAME> VERMONT MUNICIPAL, CLASS A
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000319676
<NAME> CALVERT TAX-FREE RESERVES
<SERIES>
   <NUMBER> 062
   <NAME> VERMONT MUNICIPAL - CLASS C
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
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<DISTRIBUTIONS-OF-INCOME>                         (18)
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<EXPENSE-RATIO>                                   2.69
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</TABLE>


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