<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 739714
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 VKAC U.S. GOVERNMENT TRUST
001 B000000 811-3590
001 C000000 6306846000
002 A000000 ONE PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 VKAC U.S. GOVERNMENT FUND
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007 C011000 1
008 A000101 VAN KAMPEN AMERICAN CAPITAL INVESTMENT ADVISO
008 B000101 A
008 C000101 801-18161
008 D010101 OAKBROOK TERRACE
008 D020101 IL
008 D030101 60181
008 B00AA01 A
008 C00AA01 801-
010 A000101 VAN KAMPEN AMERICAN CAPITAL U.S. GOVT. FUND
011 A000101 VAN KAMPEN AMERICAN CAPITAL DISTRIBUTORS INC.
011 B000101 8-19412
011 C010101 OAKBROOK TERRACE
011 C020101 IL
011 C030101 60181
012 A000101 ACCESS Investor Services, Inc.
012 B000101 85-5003
012 C010101 Kansas City
012 C020101 MO
012 C030101 64141
012 C040101 9256
013 A000101 KPMG PEAT MARWICK LLP
013 B010101 CHICAGO
013 B020101 IL
013 B030101 60601
014 A00AA01 MORGAN STANLEY & CO., INCORPORATED
<PAGE> PAGE 2
014 B00AA01 8-
015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02105
015 E010101 X
015 B00AA01 C
018 000100 Y
019 A000100 Y
019 B000100 114
019 C000100 VANKAMPENA
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020 C000005 0
020 C000006 0
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020 C000008 0
020 C000009 0
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022 A000007 SALOMON BROTHERS
022 B000007 13-3082694
022 C000007 229319
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<PAGE> PAGE 3
022 A000008 DONALDSON LUFKIN JENRETTE
022 B000008 13-2741729
022 C000008 123476
022 D000008 328273
022 A000009 MORGAN STANLEY
022 B000009 13-2655998
022 C000009 100000
022 D000009 198844
022 A000010 MERRILL LYNCH
022 B000010 13-5674085
022 C000010 80974
022 D000010 79665
023 C000000 20029514
023 D000000 5832543
024 000100 N
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025 D00AA02 0
025 D00AA03 0
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025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
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026 B000000 Y
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026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
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028 A020100 9260
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028 B020100 9185
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028 E010100 6817
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<PAGE> PAGE 4
028 E030100 0
028 E040100 44964
028 F010100 6142
028 F020100 8845
028 F030100 0
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028 G010100 35480
028 G020100 54337
028 G030100 0
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028 H000100 18784
029 000100 Y
029 00AA00 Y
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030 B000100 4.75
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030 B00AA00 0.00
030 C00AA00 0.00
031 A000100 158
031 B000100 0
032 000100 1273
033 00AA00 0
034 00AA00 Y
035 000100 1520
036 A000100 Y
036 B000100 0
037 000100 N
038 00AA00 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 9297
044 00AA00 0
045 000100 Y
046 000100 N
047 00AA00 Y
048 000100 0.00
048 A010100 500000
048 A020100 0.550
048 B010100 500000
048 B020100 0.525
048 C010100 2000000
<PAGE> PAGE 5
048 C020100 0.500
048 D010100 2000000
048 D020100 0.475
048 E010100 2000000
048 E020100 0.450
048 F010100 2000000
048 F020100 0.425
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048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 9000000
048 K020100 0.400
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
054 A000100 Y
054 B000100 N
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 Y
054 H000100 N
054 I000100 Y
054 J000100 N
054 K000100 N
054 L000100 N
054 M000100 N
054 N000100 N
054 O000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 500
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.3
062 E000100 0.0
<PAGE> PAGE 6
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 11.6
062 N000100 87.8
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 6.00
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 Y
070 C020100 Y
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 Y
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 Y
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
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<PAGE> PAGE 7
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
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072 S000100 250
072 T000100 9297
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<PAGE> PAGE 8
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080 A000100 ICI MUTUAL INSURANCE CO
080 C000100 65000
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082 A00AA00 Y
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083 A000100 N
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083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
<PAGE> PAGE 9
085 A000100 Y
085 B000100 N
086 A010000 0
086 A020000 0
086 B010000 0
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SIGNATURE DENNIS J MCDONNELL
TITLE PRES, CEO & TRUSTEE
KPMG Peat Marwick LLP
Peat Marwick Plaza
303 East Wacker Drive
Chicago, IL 60601-9973
The Board of Trustees and Shareholders of
Van Kampen American Capital U.S. Government Fund:
In planning and performing our audit of the financial statements
of Van Kampen American Capital U.S. Government Fund (the "Fund")
for the year ended December 31, 1996, we considered its internal
control structure, including procedures for safeguarding securities,
in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on
the internal control structure.
The management of the Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to assess the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide
management with reasonable, but not absolute, assurance that
assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance
with management's authorization and recorded properly to
permit preparation of financial statements in accordance with
generally accepted accounting principles.
Because of inherent limitations in any system of internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the structure to
future periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not
necessarily disclose all matters in the internal control
structure that might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the
design or operation of the specific internal control structure
elements does not reduce to a relatively low level the risk that
errors or irregularities in amounts that would be material in
relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted
no matters involving the internal control structure, including
procedures for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 1996.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
/s/ KPMG Peat Marwick LLP
KPMG Peat Marwick LLP
January 30, 1997
NSAR ITEM 77C
Van Kampen American Capital U.S. Government Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital U.S.
Government Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 135,806,672 Against 3,524,256
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 110,575,420 Against 4,623,339
3) For each VK Fund, to Ratify the Selection of KPMG Peat Marwick
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 138,087,529 Against 1,923,968
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> VKAC U.S. Government Fund - A Shares
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 2948101<F1>
<INVESTMENTS-AT-VALUE> 2980387<F1>
<RECEIVABLES> 30600<F1>
<ASSETS-OTHER> 246<F1>
<OTHER-ITEMS-ASSETS> 1<F1>
<TOTAL-ASSETS> 3011234<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 22053<F1>
<TOTAL-LIABILITIES> 22053<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 2778287
<SHARES-COMMON-STOCK> 177062
<SHARES-COMMON-PRIOR> 198187
<ACCUMULATED-NII-CURRENT> 6188<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (302395)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 28986<F1>
<NET-ASSETS> 2560059
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 253377<F1>
<OTHER-INCOME> 10476<F1>
<EXPENSES-NET> 33007<F1>
<NET-INVESTMENT-INCOME> 230846<F1>
<REALIZED-GAINS-CURRENT> (5772)<F1>
<APPREC-INCREASE-CURRENT> (108498)<F1>
<NET-CHANGE-FROM-OPS> 116576<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (200824)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3307
<NUMBER-OF-SHARES-REDEEMED> (31284)
<SHARES-REINVESTED> 6853
<NET-CHANGE-IN-ASSETS> (402814)
<ACCUMULATED-NII-PRIOR> 4934<F1>
<ACCUMULATED-GAINS-PRIOR> (453693)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 16225<F1>
<INTEREST-EXPENSE> 692<F1>
<GROSS-EXPENSE> 33017<F1>
<AVERAGE-NET-ASSETS> 2724881
<PER-SHARE-NAV-BEGIN> 14.950
<PER-SHARE-NII> 1.069
<PER-SHARE-GAIN-APPREC> (.495)
<PER-SHARE-DIVIDEND> (1.065)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.459
<EXPENSE-RATIO> .90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 12
<NAME> VKAC U.S. Government Fund - B Shares
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 2948101<F1>
<INVESTMENTS-AT-VALUE> 2980387<F1>
<RECEIVABLES> 30600<F1>
<ASSETS-OTHER> 246<F1>
<OTHER-ITEMS-ASSETS> 1<F1>
<TOTAL-ASSETS> 3011234<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 22053<F1>
<TOTAL-LIABILITIES> 22053<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 462644
<SHARES-COMMON-STOCK> 28710
<SHARES-COMMON-PRIOR> 31218
<ACCUMULATED-NII-CURRENT> 6188<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (302395)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 28986<F1>
<NET-ASSETS> 414773
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 253377<F1>
<OTHER-INCOME> 10476<F1>
<EXPENSES-NET> 33007<F1>
<NET-INVESTMENT-INCOME> 230846<F1>
<REALIZED-GAINS-CURRENT> (5772)<F1>
<APPREC-INCREASE-CURRENT> (108498)<F1>
<NET-CHANGE-FROM-OPS> 116576<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (28928)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2703
<NUMBER-OF-SHARES-REDEEMED> (6167)
<SHARES-REINVESTED> 956
<NET-CHANGE-IN-ASSETS> (51887)
<ACCUMULATED-NII-PRIOR> 4934<F1>
<ACCUMULATED-GAINS-PRIOR> (453693)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 16225<F1>
<INTEREST-EXPENSE> 692<F1>
<GROSS-EXPENSE> 33017<F1>
<AVERAGE-NET-ASSETS> 437967
<PER-SHARE-NAV-BEGIN> 14.948
<PER-SHARE-NII> .947
<PER-SHARE-GAIN-APPREC> (.494)
<PER-SHARE-DIVIDEND> (.954)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.447
<EXPENSE-RATIO> 1.73
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 13
<NAME> VKAC U.S. Government Fund - C Shares
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 2948101<F1>
<INVESTMENTS-AT-VALUE> 2980387<F1>
<RECEIVABLES> 30600<F1>
<ASSETS-OTHER> 246<F1>
<OTHER-ITEMS-ASSETS> 1<F1>
<TOTAL-ASSETS> 3011234<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 22053<F1>
<TOTAL-LIABILITIES> 22053<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 15470
<SHARES-COMMON-STOCK> 993
<SHARES-COMMON-PRIOR> 888
<ACCUMULATED-NII-CURRENT> 6188<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (302395)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 28986<F1>
<NET-ASSETS> 14350
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 253377<F1>
<OTHER-INCOME> 10476<F1>
<EXPENSES-NET> 33007<F1>
<NET-INVESTMENT-INCOME> 230846<F1>
<REALIZED-GAINS-CURRENT> (5772)<F1>
<APPREC-INCREASE-CURRENT> (108498)<F1>
<NET-CHANGE-FROM-OPS> 116576<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (960)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 454
<NUMBER-OF-SHARES-REDEEMED> (387)
<SHARES-REINVESTED> 38
<NET-CHANGE-IN-ASSETS> 1074
<ACCUMULATED-NII-PRIOR> 4934<F1>
<ACCUMULATED-GAINS-PRIOR> (453693)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 16225<F1>
<INTEREST-EXPENSE> 692<F1>
<GROSS-EXPENSE> 33017<F1>
<AVERAGE-NET-ASSETS> 14531
<PER-SHARE-NAV-BEGIN> 14.948
<PER-SHARE-NII> .943
<PER-SHARE-GAIN-APPREC> (.489)
<PER-SHARE-DIVIDEND> (.954)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.448
<EXPENSE-RATIO> 1.72
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
