<PAGE> PAGE 1
000 A000000 11/30/96
000 C000000 0000764802
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 IDS FEDERAL INCOME FUND, INC.
001 B000000 811-4260
001 C000000 6126712772
002 A000000 IDS TOWER 10
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55440
002 D020000 0010
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 IDS FEDERAL INCOME FUND CLASS A
007 C030100 N
007 C010200 2
007 C020200 IDS FEDERAL INCOME FUND CLASS B
007 C030200 N
007 C010300 3
007 C020300 IDS FEDERAL INCOME FUND CLASS Y
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 47
019 C00AA00 IDSMUTFDGR
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
<PAGE> PAGE 2
020 C000009 0
020 C000010 0
021 000000 0
022 C000001 0
022 D000001 0
022 C000002 0
022 D000002 0
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 0
023 D000000 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A01AA00 101063
028 A02AA00 7535
028 A03AA00 0
028 A04AA00 102648
028 B01AA00 111342
028 B02AA00 7980
028 B03AA00 0
028 B04AA00 126644
028 C01AA00 114518
028 C02AA00 8653
028 C03AA00 0
028 C04AA00 125246
028 D01AA00 121761
028 D02AA00 7502
028 D03AA00 0
028 D04AA00 95571
<PAGE> PAGE 3
028 E01AA00 145759
028 E02AA00 8910
028 E03AA00 0
028 E04AA00 118408
028 F01AA00 154088
028 F02AA00 8003
028 F03AA00 0
028 F04AA00 128230
028 G01AA00 748531
028 G02AA00 48583
028 G03AA00 0
028 G04AA00 696747
028 H00AA00 260375
045 00AA00 N
048 00AA00 0.000
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
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
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
<PAGE> PAGE 4
054 O00AA00 N
070 A01AA00 N
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 N
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
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 64128
072 C00AA00 0
072 D00AA00 0
072 E00AA00 0
072 F00AA00 4517
072 G00AA00 414
072 H00AA00 7
072 I00AA00 934
072 J00AA00 3
<PAGE> PAGE 5
072 K00AA00 155
072 L00AA00 10
072 M00AA00 2
072 N00AA00 142
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 17
072 S00AA00 0
072 T00AA00 2024
072 U00AA00 0
072 V00AA00 0
072 W00AA00 1415
072 X00AA00 9640
072 Y00AA00 0
072 Z00AA00 54488
072AA00AA00 0
072BB00AA00 25323
072CC01AA00 60906
072CC02AA00 0
072DD01AA00 54178
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.0000
073 A02AA00 0.0000
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 0
074 B00AA00 0
074 C00AA00 0
074 D00AA00 0
074 E00AA00 0
074 F00AA00 0
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 0
074 K00AA00 0
074 L00AA00 0
074 M00AA00 1851477
074 N00AA00 1851477
074 O00AA00 0
074 P00AA00 71
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 1177
074 S00AA00 0
074 T00AA00 1850229
074 U01AA00 368332
<PAGE> PAGE 6
074 U02AA00 0
074 V01AA00 0.00
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 123109
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 1757474
076 00AA00 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 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
029 000100 Y
030 A000100 14435
030 B000100 5.00
030 C000100 0.50
031 A000100 4963
031 B000100 0
032 000100 0
033 000100 19398
034 000100 N
035 000100 0
036 B000100 0
034 000200 Y
035 000200 222
036 A000200 N
036 B000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
<PAGE> PAGE 7
042 H000200 100
043 000200 2024
044 000200 0
SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> IDS FEDERAL INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1997
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 1851476766
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1851476766
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1247797
<TOTAL-LIABILITIES> 1247797
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1866794399
<SHARES-COMMON-STOCK> 224461962
<SHARES-COMMON-PRIOR> 222446482
<ACCUMULATED-NII-CURRENT> 1183389
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (72531635)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 54782816
<NET-ASSETS> 1127547009
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 64127769
<OTHER-INCOME> 0
<EXPENSES-NET> 9639749
<NET-INVESTMENT-INCOME> 54488020
<REALIZED-GAINS-CURRENT> (25323001)
<APPREC-INCREASE-CURRENT> 60906368
<NET-CHANGE-FROM-OPS> 90071387
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35380554)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 79255715
<NUMBER-OF-SHARES-REDEEMED> (83394801)
<SHARES-REINVESTED> 6154566
<NET-CHANGE-IN-ASSETS> 136260872
<ACCUMULATED-NII-PRIOR> 873023
<ACCUMULATED-GAINS-PRIOR> (47208634)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 168039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5291083
<AVERAGE-NET-ASSETS> 1097270120
<PER-SHARE-NAV-BEGIN> 4.92
<PER-SHARE-NII> .16
<PER-SHARE-GAIN-APPREC> .10
<PER-SHARE-DIVIDEND> (.16)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.02
<EXPENSE-RATIO> .89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> IDS FEDERAL INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1997
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 1851476766
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1851476766
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1247797
<TOTAL-LIABILITIES> 1247797
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1866794399
<SHARES-COMMON-STOCK> 122764887
<SHARES-COMMON-PRIOR> 105626695
<ACCUMULATED-NII-CURRENT> 1183389
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (72531635)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 54782816
<NET-ASSETS> 616665446
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 64127769
<OTHER-INCOME> 0
<EXPENSES-NET> 9639749
<NET-INVESTMENT-INCOME> 54488020
<REALIZED-GAINS-CURRENT> (25323001)
<APPREC-INCREASE-CURRENT> 60906368
<NET-CHANGE-FROM-OPS> 90071387
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15464691)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 68823940
<NUMBER-OF-SHARES-REDEEMED> (54672471)
<SHARES-REINVESTED> 2986723
<NET-CHANGE-IN-ASSETS> 136260872
<ACCUMULATED-NII-PRIOR> 873023
<ACCUMULATED-GAINS-PRIOR> (47208634)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 168039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5291083
<AVERAGE-NET-ASSETS> 542601785
<PER-SHARE-NAV-BEGIN> 4.92
<PER-SHARE-NII> .14
<PER-SHARE-GAIN-APPREC> .10
<PER-SHARE-DIVIDEND> (.14)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.02
<EXPENSE-RATIO> 1.64
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> IDS FEDERAL INCOME FUND CLASS Y
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1997
<PERIOD-END> NOV-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 1851476766
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1851476766
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1247797
<TOTAL-LIABILITIES> 1247797
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1866794399
<SHARES-COMMON-STOCK> 21104798
<SHARES-COMMON-PRIOR> 20091530
<ACCUMULATED-NII-CURRENT> 1183389
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (72531635)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 54782816
<NET-ASSETS> 106016514
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 64127769
<OTHER-INCOME> 0
<EXPENSES-NET> 9639749
<NET-INVESTMENT-INCOME> 54488020
<REALIZED-GAINS-CURRENT> (25323001)
<APPREC-INCREASE-CURRENT> 60906368
<NET-CHANGE-FROM-OPS> 90071387
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3332409)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3131927
<NUMBER-OF-SHARES-REDEEMED> (2791431)
<SHARES-REINVESTED> 672772
<NET-CHANGE-IN-ASSETS> 136260872
<ACCUMULATED-NII-PRIOR> 873023
<ACCUMULATED-GAINS-PRIOR> (47208634)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 168039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5291083
<AVERAGE-NET-ASSETS> 100518635
<PER-SHARE-NAV-BEGIN> 4.92
<PER-SHARE-NII> .16
<PER-SHARE-GAIN-APPREC> .10
<PER-SHARE-DIVIDEND> (.16)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.02
<EXPENSE-RATIO> .71
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
