<PAGE> PAGE 1
000 A000000 12/31/96
000 C000000 0000353312
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 IAA TRUST TAXABLE FIXED INCOME SERIES FUND, I
001 B000000 811-3186
001 C000000 3095573222
002 A000000 808 IAA DRIVE
002 B000000 BLOOMINGTON
002 C000000 IL
002 D010000 61702
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 IAA TRUST MONEY MARKET SERIES
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 IAA TRUST COMPANY
008 B00AA01 A
008 C00AA01 801-000000
008 D01AA01 BLOOMINGTON
008 D02AA01 IL
008 D03AA01 61702
010 A00AA01 FPS SERVICES, INC.
010 B00AA01 084932
010 C01AA01 KING OF PRUSSIA
010 C02AA01 PA
010 C03AA01 19406
010 C04AA01 0903
011 A00AA01 FPS BROKER SERVICES, INC.
011 B00AA01 8-084932
011 C01AA01 KING OF PRUSSIA
011 C02AA01 PA
011 C03AA01 19406
<PAGE> PAGE 2
011 C04AA01 0903
012 A00AA01 FPS SERVICES, INC.
012 B00AA01 84-084932
012 C01AA01 KING OF PRUSSIA
012 C02AA01 PA
012 C03AA01 19406
012 C04AA01 0903
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
015 A00AA01 IAA TRUST COMPANY
015 B00AA01 C
015 C01AA01 BLOOMINGTON
015 C02AA01 IL
015 C03AA01 61702
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 4
019 C00AA00 IAATRSTFDS
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 FEDERATED MANAGEMENT
022 C000001 14426
022 D000001 15945
022 A000002 MERRILL LYNCH PIERCE FENNER
022 B000002 13-5674085
022 C000002 29204
022 D000002 366
022 A000003 FORD MOTORS CORP.
022 B000003 38-1612444
022 C000003 6845
022 D000003 0
022 A000004 IBM CREDIT CORP.
022 C000004 6074
022 D000004 0
022 A000005 AMERICAN GENERAL
022 B000005 76-0050868
022 C000005 5273
022 D000005 0
022 A000006 DEERE & CO.
<PAGE> PAGE 3
022 C000006 5260
022 D000006 0
022 A000007 BENEFICIAL CORP.
022 C000007 5047
022 D000007 0
022 A000008 COMMERCIAL CREDIT
022 C000008 4910
022 D000008 0
022 A000009 CIT GROUP
022 B000009 76-0050868
022 C000009 4855
022 D000009 0
022 A000010 AMERICAN EXPRESS
022 B000010 13-2985263
022 C000010 4770
022 D000010 0
023 C000000 115820
023 D000000 16311
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
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 4024
028 A02AA00 0
028 A03AA00 0
028 A04AA00 3755
028 B01AA00 2838
028 B02AA00 128
028 B03AA00 0
028 B04AA00 1768
028 C01AA00 1762
028 C02AA00 133
028 C03AA00 0
028 C04AA00 3653
028 D01AA00 2124
028 D02AA00 126
<PAGE> PAGE 4
028 D03AA00 0
028 D04AA00 3271
028 E01AA00 5109
028 E02AA00 126
028 E03AA00 0
028 E04AA00 2651
028 F01AA00 11356
028 F02AA00 124
028 F03AA00 0
028 F04AA00 4835
028 G01AA00 27213
028 G02AA00 637
028 G03AA00 0
028 G04AA00 19933
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 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.500
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
<PAGE> PAGE 5
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
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
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 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
062 A00AA00 Y
062 B00AA00 0.0
062 C00AA00 1.2
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
<PAGE> PAGE 6
062 H00AA00 0.0
062 I00AA00 98.6
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.2
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 38
063 B00AA00 0.0
064 A00AA00 N
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 N
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 Y
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 N
<PAGE> PAGE 7
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00 0
071 B00AA00 0
071 C00AA00 0
071 D00AA00 0
072 A00AA00 6
072 B00AA00 954
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 87
072 G00AA00 19
072 H00AA00 0
072 I00AA00 21
072 J00AA00 0
072 K00AA00 0
072 L00AA00 2
072 M00AA00 1
072 N00AA00 1
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 18
072 R00AA00 9
072 S00AA00 3
072 T00AA00 0
072 U00AA00 0
072 V00AA00 0
072 W00AA00 7
072 X00AA00 168
072 Y00AA00 0
072 Z00AA00 786
072AA00AA00 0
072BB00AA00 0
072CC01AA00 0
072CC02AA00 0
072DD01AA00 786
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.0226
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 89
074 B00AA00 0
074 C00AA00 41500
074 D00AA00 0
074 E00AA00 0
<PAGE> PAGE 8
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 0
074 K00AA00 0
074 L00AA00 150
074 M00AA00 7
074 N00AA00 41746
074 O00AA00 0
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 165
074 S00AA00 0
074 T00AA00 41581
074 U01AA00 41581
074 U02AA00 0
074 V01AA00 1.00
074 V02AA00 0.00
074 W00AA00 0.9997
074 X00AA00 1162
074 Y00AA00 0
075 A00AA00 34714
075 B00AA00 0
076 00AA00 0.00
077 A000000 Y
077 C000000 Y
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 FEDERAL INSURANCE COMPANY
080 C00AA00 350
081 A00AA00 Y
081 B00AA00 3
082 A00AA00 Y
082 B00AA00 10
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
SIGNATURE KELLY DIGAN
TITLE COMPLIANCE ADM.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
</TABLE>
ATTACHMENT 77.C TO FORM N-SAR, DATED 10/31/96, FOR
IAA TRUST TAXABLE FIXED INCOME SERIES FUND, INC.
Annual Meeting of Stockholders
An Annual Meeting of Stockholders was held on September 30, 1996 for
IAA Trust Growth Fund, Inc.; IAA Trust Asset Allocation Fund,
Inc.; IAA Trust Tax Exempt Bond Fund, Inc.; and IAA Trust
Taxable Fixed Income Series Fund, Inc. At the meetings,
stockholders were asked to consider and act upon (1) the
election of seven (7) Directors for the ensuing year; (2) the
ratification or rejection of the selection by the Board of
Directors of the firm of Coopers & Lybrand, L.L.P. as auditors and
accountants for the fiscal year ending June 30, 1997.
The results of all matters voted on by stockholders of the Funds
at the Annual Meetings held on September 30, 1996, were as follows:
A. Election of Directors
IAA Trust Growth Fund, Inc.
Withhold
For Authority
Ronald R. Warfield 2,839,474 24,372
Herbert G. Allen 2,840,388 23,458
Nancy J. Erickson 2,810,877 52,969
William E. Klein, Sr. 2,812,653 51,193
Ailene Miller 2,837,542 26,304
Rollie D. Moore 2,840,091 23,755
Charlot R. Cole 2,839,401 24,445
<PAGE>
IAA Trust Asset Allocation Fund, Inc.
Withhold
For Authority
525,890 0
525,890 0
522,467 3,423
522,467 3,423
522,826 3,064
522,826 3,064
525,890 0<PAGE>
<PAGE>
B. Selection of Auditors
IAA Trust Growth Fund, Inc.
For Against Abstain
2,786,481 716 76,649<PAGE>
IAA Trust Asset Allocation Fund, Inc.
For Against Abstain
511,931 48 13,911<PAGE>
A. Election of Directors
IAA Trust Tax Exempt Bond
Fund, Inc.
Withhold
For Authority
Ronald R. Warfield 1,385,735 36,236
Herbert G. Allen 1,385,697 36,274
Nancy J. Erickson 1,385,735 36,236
William E. Klein, Sr. 1,385,735 36,236
Ailene Miller 1,385,697 36,274
Rollie D. Moore 1,381,128 40,843
Charlot R. Cole 1,384,560 37,411
<PAGE>
IAA Trust Taxable Fixed Income Series Fund, Inc.
Withhold
For Authority
20,644,395 184,337
20,641,619 187,113
20,589,207 239,525
20,586,431 242,301
20,641,619 187,113
20,644,395 184,337
20,761,033 67,699<PAGE>
<PAGE>
B. Selection of Auditors
IAA Trust Tax Exempt Bond
Fund, Inc.
For Against Abstain
1,397,243 0 24,728<PAGE>
.
IAA Trust Taxable Fixed
Income Series Fund, Inc.
For Against Abstain
20,599,982 0 228,750
