<PAGE> PAGE 1
000 A000000 12/31/94
000 C000000 703875
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2
000 J000000 A
001 A000000 PAINEWEBBER RMA TAX-FREE FUND, INC
001 B000000 811-3504
001 C000000 2127131074
002 A000000 1285 AVENUE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
008 A000001 PAINEWEBBER INC.
008 B000001 A
008 C000001 801-16267
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10019
008 A000002 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000002 S
008 C000002 801-13219
008 D010002 NEW YORK
008 D020002 NY
008 D030002 10019
010 A000001 PAINEWEBBER INC.
010 B000001 801-16267
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10019
011 A000001 PAINEWEBBER INCORPORATED
011 B000001 8-16267
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10019
012 A000001 PROVIDENT FINANCIAL PROCESSING CORP.
012 B000001 84-0000
012 C010001 WILMINGTON
012 C020001 DE
012 C030001 19809
013 A000001 ERNST & YOUNG LLP
013 B010001 NEW YORK
<PAGE> PAGE 2
013 B020001 NY
013 B030001 10019
014 A000001 PAINEWEBBER INCORPORATED
014 B000001 8-16267
014 A000002 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
014 B000002 8-21901
015 A000001 STATE STREET BANK AND TRUST CO.
015 B000001 C
015 C010001 QUINCY
015 C020001 MA
015 C030001 02171
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 53
019 C000000 PAINEWEBBE
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 GOLDMAN SACHS
022 B000001 13-5674085
022 C000001 775109
022 D000001 79590
022 A000002 SMITH BARNEY SHEARSON, INC.
022 B000002 13-3371860
022 C000002 296143
022 D000002 68400
022 A000003 MORGAN STANLEY AND CO. INC.
022 B000003 13-2655998
022 C000003 252937
022 D000003 72000
022 A000004 MORGAN J.P. SECURITIES INC.
022 B000004 51-0261810
022 C000004 185324
022 D000004 85975
022 A000005 MERRRILL LYNCH PIERCE FENNER & SMITH
022 B000005 13-5674085
022 C000005 202800
022 D000005 20638
022 A000006 NUVEEN (JOHN) & COMPANY
022 B000006 36-2639476
022 C000006 76310
022 D000006 53740
<PAGE> PAGE 3
022 A000007 FIRST BOSTON CORP
022 B000007 13-5659485
022 C000007 118000
022 D000007 0
022 A000008 CHEMICAL SECURITIES INC
022 B000008 13-3379014
022 C000008 46236
022 D000008 16100
022 A000009 PRUDENTIAL SECURITIES INCORPORATED
022 C000009 44518
022 D000009 17400
022 A000010 BANKERS TRUST COMPANY
022 B000010 13-4941247
022 C000010 17910
022 D000010 25125
023 C000000 2166248
023 D000000 2697489
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 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 Y
027 000000 Y
028 A010000 582179
028 A020000 3017
028 A030000 0
028 A040000 520696
028 B010000 627441
028 B020000 2659
028 B030000 0
028 B040000 642117
028 C010000 662345
028 C020000 3542
028 C030000 0
028 C040000 669634
028 D010000 588208
028 D020000 2938
028 D030000 0
<PAGE> PAGE 4
028 D040000 592818
028 E010000 591858
028 E020000 3051
028 E030000 0
028 E040000 587102
028 F010000 724751
028 F020000 4186
028 F030000 0
028 F040000 813406
028 G010000 3776782
028 G020000 19393
028 G030000 0
028 G040000 3825773
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 Y
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 100
043 000000 607
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 1000000
048 A020000 0.500
048 B010000 500000
048 B020000 0.440
048 C010000 0
048 C020000 0.000
048 D010000 0
<PAGE> PAGE 5
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.360
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 101.3
062 F000000 0.0
062 G000000 0.0
<PAGE> PAGE 6
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 63
063 B000000 0.0
064 A000000 Y
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 N
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 N
<PAGE> PAGE 7
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 6
072 B000000 24723
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 3638
072 G000000 0
072 H000000 0
072 I000000 266
072 J000000 94
072 K000000 9
072 L000000 13
072 M000000 11
072 N000000 94
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 18
072 S000000 30
072 T000000 607
072 U000000 0
072 V000000 0
072 W000000 17
072 X000000 4798
072 Y000000 0
072 Z000000 19925
072AA000000 0
072BB000000 23
072CC010000 0
072CC020000 0
072DD010000 19925
072DD020000 0
072EE000000 0
073 A010000 0.0130
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 1418036
074 C000000 0
074 D000000 0
074 E000000 0
<PAGE> PAGE 8
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 9181
074 M000000 196
074 N000000 1427413
074 O000000 17706
074 P000000 736
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 10868
074 S000000 0
074 T000000 1398103
074 U010000 1399139
074 U020000 0
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 35661
074 Y000000 0
075 A000000 1505102
075 B000000 0
076 000000 0.00
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 C000000 0
081 B000000 0
082 B000000 0
<PAGE> PAGE 9
083 B000000 0
084 B000000 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE JULIAN SLUYTERS
TITLE TREASURER
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1994
<PERIOD-START> JUL-01-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 1,418,036
<INVESTMENTS-AT-VALUE> 1,418,036
<RECEIVABLES> 9,181
<ASSETS-OTHER> 196
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,427,413
<PAYABLE-FOR-SECURITIES> 17,706
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,604
<TOTAL-LIABILITIES> 1,398,103
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 1,399,139
<SHARES-COMMON-PRIOR> 1,428,737
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,398,103
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 24,723
<OTHER-INCOME> 0
<EXPENSES-NET> 4,798
<NET-INVESTMENT-INCOME> 19,925
<REALIZED-GAINS-CURRENT> (23)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 19,903
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 19,925
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,776,782
<NUMBER-OF-SHARES-REDEEMED> 3,825,773
<SHARES-REINVESTED> 13,393
<NET-CHANGE-IN-ASSETS> (29,621)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,638
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,798
<AVERAGE-NET-ASSETS> 1,505
<PER-SHARE-NAV-BEGIN> 1
<PER-SHARE-NII> 0.013
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.013
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1
<EXPENSE-RATIO> 0.63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<PAGE>
EXHIBIT 99
Rule 10f-3
Record of Municipal Securities Purchased Under the Fund's Rule 10f-3 Procedures
Fund Name: PW RMA Tax Free
1. Issuer: California State
2. Date of purchase: 7-27-94
3. Date offering commenced: 7-27-94
4. Underwriter from whom purchased: Bank of America
5. Affiliated Underwriter: PaineWebber
6. Aggregate principal amount of purchase: $8.3MM
7. Aggregate principal amount of offering: $3.0B
8. Purchase price (net of fees and expenses): 100,707
9. Initial public offering price: 100,707
10. Commission, spread or profit: $1.77
11. Have the following conditions been satisfied? YES NO
A. The securities are part of an issue registered under the
Securities Act of 1933 which is being offered to the
public or are "municipal securities" as defined in
Section 3(a)(29) of the Securities Exchange Act of 1934. [X] [_]
B. The securities were purchased prior to the end of the
first full business day of the offering at not more than
the initial offering price (or, if a rights offering,
the securities were purchased on or before the fourth
day preceding the day on which the offering terminated). [X] [_]
C. The underwriting was a firm commitment underwriting. [X] [_]
D. The commission, spread or profit was reasonable and fair
in relation to that being received by others for
underwriting similar securities during the same period. [X] [_]
E. The issue of securities has received an investment grade
rating from a nationally recognized statistical rating
organization or, if the issuer or entity supplying the
revenues from which the issue is to be paid shall have
been in continuous operation for less than three years
(including any predecessor), it has received one of the
three highest ratings from at least one such rating
organization. [X] [_]
F. The amount of such securities purchased by all of the
investment companies advised by Mitchell Hutchins did
not exceed 4% of the principal amount of the offering or
$500,000 in principal amount, whichever is greater,
provided that in no event did such amount exceed 10% of
the principal amount of the offering.
G. The purchase price was less than 3% of the Fund's total
assets. [X] [_]
H. No affiliated Underwriter was a direct or indirect
participant in or beneficiary of the sale or, with
respect to municipal securities, no purchases were
designated as group sales or otherwise allocated to the
account of any affiliated Underwriter. [X] [_]
Approved by: /s/ Debbie Vermann Date: 7-29-94
