UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington , D.C. 20549
FORM 24f-2
Annual Notice of Securities Sold
Pursuant to Rule 24F-2
Read instructions at end of Form before preparing Form. Please print or type.
1. Name and address of issuer: USAA TAX EXEMPT FUND, INC.
10750 Robert F. McDermott Freeway
San Antonio, Texas 78288
2. Name of each series or class of securities for which this notice is filed (If
the Form is being filed for all series and classes of securities of the
issuer, check the box but do not list series or classes):
_
|X|
-
3. Investment Company Act File Number: 811-3333
Securities Act File Number: 2-75093
4 (a). Last day of the fiscal year for which this notice is filed:
March 31, 1998
4 (b). Check this box if this notice is late (ie., more than 90 calendar days
after the end of the issuer's fiscal year). (See Instruction A.2):
Not Applicable
4 (c). Check box if this is the last time the issuer will be filing the Form:
Not Applicable.
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold
during the fiscal year in pursuant to
section 24(f): $ 4,085,697,577
(ii) Aggregate price of securities redeemed or
repurchased during the fiscal year: $ 3,395,842,413
(iii) Aggregate price of shares redeemed or
repurchased during any prior fiscal year
ending no earlier than October 11, 1995
that were not previously used to
reduce registration fees payable to the
Commission: $ 0
---------------
(iv) Total available redemption credits
[add Items 5(ii) and 5(iii): - $ 3,395,842,413
---------------
(v) Net sales -- if Item 5(I) is greater than
Item 5(iv) [subtract Item 5(iv) from
Item 5(i)]: $ 689,855,164
________________________________________________________________
(vi) Redemption credits available for use in
future years $( )
-- if Item 5(i) is less than Item 5(iv) ---------------
[subtract Item 5(iv) from Item 5(i)]:
________________________________________________________________
(vii) Multiplier for determining registration
fee (See Instruction C.9): x 0.000295
---------------
(viii) Registration fee due [multiply Item 5(v)
by Item 5(vii)] (enter "0" if no fee
is due): = 203,507
===============
6. Prepaid Shares
If the response to Item5(i) was determined by deducting an amount of
securities that were registered under the Securities Act of 1933 pursuant to
rule 24e-2 as in effect before [effective date of rescission of rule 24e-2],
then report the amount of securities (number of shares or other units)
deducted here: 8,337,574. If there is a number of shares or other units
that were registered pursuant to rule 24e-2 remaining unsold at the end of
the fiscal year for which this form is filed that are available for use by
the issuer in future years, then state that number here: n/a
7. Interest due -- if this Form is being filed more than 90
days after the end of the issuer's fiscal year
(see Instruction D): + $ n/a
--------------
8. Total of the amount of the registration fee due plus any
interest due [line 5(viii) plus line 7]: = $ 203,507
==============
9. Date the registration fee and any interest payment was sent
to the Commission's lockbox depository: May 22, 1998
Method of Delivery:
__X__ Wire Transfer
_____ Mail or other means
SIGNATURES
This report has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
By (Signature and Title)*
-----------------------------
Sherron Kirk, Treasurer
-----------------------------
Date May 28, 1998
------------------------------
* Please print the name and title of the signing officer below
the signature.
