IDS FEDERAL INCOME FUND INC
NSAR-B, 1997-07-24
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<PAGE>      PAGE  1
000 B000000 05/31/97
000 C000000 0000764802
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
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
011 A00AA01 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
011 B00AA01 8-16791
011 C01AA01 MINNEAPOLIS
011 C02AA01 MN
011 C03AA01 55440
011 C04AA01 0010
012 A00AA01 AMERICAN EXPRESS FINANCIAL CORPORATION
012 B00AA01 84-456
012 C01AA01 MINNEAPOLIS
012 C02AA01 MN
012 C03AA01 55440
012 C04AA01 0010
<PAGE>      PAGE  2
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
013 B04AA01 3900
015 A00AA01 AMERICAN EXPRESS TRUST COMPANY
015 B00AA01 C
015 C01AA01 MINNEAPOLIS
015 C02AA01 MN
015 C03AA01 55402
015 C04AA01 2307
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   47
019 C00AA00 IDSMUTFDGR
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SIGNATURE   LESLIE L. OGG                                
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER>  1
   <NAME>  IDS FEDERAL INCOME FUND CLASS A
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                            MAY-31-1997
<PERIOD-END>                                 MAY-31-1997
<INVESTMENTS-AT-COST>                                  0
<INVESTMENTS-AT-VALUE>                                 0
<RECEIVABLES>                                          0
<ASSETS-OTHER>                               2203361775
<OTHER-ITEMS-ASSETS>                                   0
<TOTAL-ASSETS>                               2203361775
<PAYABLE-FOR-SECURITIES>                               0
<SENIOR-LONG-TERM-DEBT>                                0
<OTHER-ITEMS-LIABILITIES>                         1244537
<TOTAL-LIABILITIES>                               1244537
<SENIOR-EQUITY>                                        0
<PAID-IN-CAPITAL-COMMON>                     2236027076
<SHARES-COMMON-STOCK>                             254683165
<SHARES-COMMON-PRIOR>                             222446482
<ACCUMULATED-NII-CURRENT>                         1029490
<OVERDISTRIBUTION-NII>                                 0
 <ACCUMULATED-NET-GAINS>                          (51321935)
<OVERDISTRIBUTION-GAINS>                               0
<ACCUM-APPREC-OR-DEPREC>                          16382607
<NET-ASSETS>                                 1267122635
<DIVIDEND-INCOME>                                 0
<INTEREST-INCOME>                                 136941805
<OTHER-INCOME>                                         0
<EXPENSES-NET>                                    21504799
<NET-INVESTMENT-INCOME>                           115437006
<REALIZED-GAINS-CURRENT>                          (4113301)
<APPREC-INCREASE-CURRENT>                         22506159
<NET-CHANGE-FROM-OPS>                             133829864
<EQUALIZATION>                                         0
<DISTRIBUTIONS-OF-INCOME>                    72954437
<DISTRIBUTIONS-OF-GAINS>                               0
<DISTRIBUTIONS-OTHER>                                  0
<NUMBER-OF-SHARES-SOLD>                           985973729
<NUMBER-OF-SHARES-REDEEMED>                  888331026
<SHARES-REINVESTED>                               62856887
<NET-CHANGE-IN-ASSETS>                            488149141
<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>                                   11950050
<AVERAGE-NET-ASSETS>                         1150847285
<PER-SHARE-NAV-BEGIN>                                  4.92
<PER-SHARE-NII>                                        .32
<PER-SHARE-GAIN-APPREC>                                .06
<PER-SHARE-DIVIDEND>                              .32
<PER-SHARE-DISTRIBUTIONS>                              0
<RETURNS-OF-CAPITAL>                                   0
<PER-SHARE-NAV-END>                                    4.98
<EXPENSE-RATIO>                                        .90
<AVG-DEBT-OUTSTANDING>                                 0
<AVG-DEBT-PER-SHARE>                                   0


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER>  2
   <NAME>  IDS FEDERAL INCOME FUND CLASS B
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                            MAY-31-1997
<PERIOD-END>                                 MAY-31-1997
<INVESTMENTS-AT-COST>                                  0
<INVESTMENTS-AT-VALUE>                                 0
<RECEIVABLES>                                          0
<ASSETS-OTHER>                               2203361775
<OTHER-ITEMS-ASSETS>                                   0
<TOTAL-ASSETS>                               2203361775
<PAYABLE-FOR-SECURITIES>                               0
<SENIOR-LONG-TERM-DEBT>                                0
<OTHER-ITEMS-LIABILITIES>                         1244537
<TOTAL-LIABILITIES>                               1244537
<SENIOR-EQUITY>                                        0
<PAID-IN-CAPITAL-COMMON>                     2236027076
<SHARES-COMMON-STOCK>                             164814003
<SHARES-COMMON-PRIOR>                             105626695
<ACCUMULATED-NII-CURRENT>                         1029490
<OVERDISTRIBUTION-NII>                                 0
 <ACCUMULATED-NET-GAINS>                          (51321935)
<OVERDISTRIBUTION-GAINS>                               0
<ACCUM-APPREC-OR-DEPREC>                          16382607
<NET-ASSETS>                                 820236153
<DIVIDEND-INCOME>                                 0
<INTEREST-INCOME>                                 136941805
<OTHER-INCOME>                                         0
<EXPENSES-NET>                                    21504799
<NET-INVESTMENT-INCOME>                           115437006
<REALIZED-GAINS-CURRENT>                          (4113301)
<APPREC-INCREASE-CURRENT>                         22506159
<NET-CHANGE-FROM-OPS>                             133829864
<EQUALIZATION>                                         0
<DISTRIBUTIONS-OF-INCOME>                    72954437
<DISTRIBUTIONS-OF-GAINS>                               0
<DISTRIBUTIONS-OTHER>                                  0
<NUMBER-OF-SHARES-SOLD>                           985973729
<NUMBER-OF-SHARES-REDEEMED>                  888331026
<SHARES-REINVESTED>                               62856887
<NET-CHANGE-IN-ASSETS>                            488149141
<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>                                   11950050
<AVERAGE-NET-ASSETS>                         634121639
<PER-SHARE-NAV-BEGIN>                                  4.92
<PER-SHARE-NII>                                        .28
<PER-SHARE-GAIN-APPREC>                                .06
<PER-SHARE-DIVIDEND>                              .28
<PER-SHARE-DISTRIBUTIONS>                              .06
<RETURNS-OF-CAPITAL>                                   0
<PER-SHARE-NAV-END>                                    4.98
<EXPENSE-RATIO>                                        1.66
<AVG-DEBT-OUTSTANDING>                                 0
<AVG-DEBT-PER-SHARE>                                   0


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER>  3
   <NAME>  IDS FEDERAL INCOME FUND CLASS Y
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                            MAY-31-1997
<PERIOD-END>                                 MAY-31-1997
<INVESTMENTS-AT-COST>                                  0
<INVESTMENTS-AT-VALUE>                                 0
<RECEIVABLES>                                          0
<ASSETS-OTHER>                               2203361775
<OTHER-ITEMS-ASSETS>                                   0
<TOTAL-ASSETS>                               2203361775
<PAYABLE-FOR-SECURITIES>                               0
<SENIOR-LONG-TERM-DEBT>                                0
<OTHER-ITEMS-LIABILITIES>                         1244537
<TOTAL-LIABILITIES>                               1244537
<SENIOR-EQUITY>                                        0
<PAID-IN-CAPITAL-COMMON>                     2236027076
<SHARES-COMMON-STOCK>                             23053358
<SHARES-COMMON-PRIOR>                             20091530
<ACCUMULATED-NII-CURRENT>                         1029490
<OVERDISTRIBUTION-NII>                                 0
 <ACCUMULATED-NET-GAINS>                          (51321935)
<OVERDISTRIBUTION-GAINS>                               0
<ACCUM-APPREC-OR-DEPREC>                          16382607
<NET-ASSETS>                                 114758450
<DIVIDEND-INCOME>                                 0
<INTEREST-INCOME>                                 136941805
<OTHER-INCOME>                                         0
<EXPENSES-NET>                                    21504799
<NET-INVESTMENT-INCOME>                           115437006
<REALIZED-GAINS-CURRENT>                          (4113301)
<APPREC-INCREASE-CURRENT>                         22506159
<NET-CHANGE-FROM-OPS>                             133829864
<EQUALIZATION>                                         0
<DISTRIBUTIONS-OF-INCOME>                    72954437
<DISTRIBUTIONS-OF-GAINS>                               0
<DISTRIBUTIONS-OTHER>                                  0
<NUMBER-OF-SHARES-SOLD>                           985973729
<NUMBER-OF-SHARES-REDEEMED>                  888331026
<SHARES-REINVESTED>                               62856887
<NET-CHANGE-IN-ASSETS>                            488149141
<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>                                   11950050
<AVERAGE-NET-ASSETS>                         106354421
<PER-SHARE-NAV-BEGIN>                                  4.92
<PER-SHARE-NII>                                        .32
<PER-SHARE-GAIN-APPREC>                                .05
<PER-SHARE-DIVIDEND>                              .32
<PER-SHARE-DISTRIBUTIONS>                              .05
<RETURNS-OF-CAPITAL>                                   0
<PER-SHARE-NAV-END>                                    4.97
<EXPENSE-RATIO>                                        .73
<AVG-DEBT-OUTSTANDING>                                 0
<AVG-DEBT-PER-SHARE>                                   0


</TABLE>



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