<PAGE> PAGE 1
000 A000000 11/30/98
000 C000000 0000764802
000 D000000 N
000 E000000 NF
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 6126713800
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 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
028 A010000 218332
028 A020000 10059
028 A030000 0
028 A040000 191971
028 B010000 230664
028 B020000 11170
028 B030000 0
028 B040000 219669
028 C010000 282587
028 C020000 9820
028 C030000 0
028 C040000 187309
028 D010000 276709
028 D020000 9520
028 D030000 0
028 D040000 205078
028 E010000 287195
028 E020000 11792
<PAGE> PAGE 2
028 E030000 0
028 E040000 196288
028 F010000 243079
028 F020000 11154
028 F030000 0
028 F040000 193343
028 G010000 1538566
028 G020000 63515
028 G030000 0
028 G040000 1193658
028 H000000 396815
029 000000 Y
030 A000000 20738
030 B000000 5.00
030 C000000 0.50
031 A000000 7158
031 B000000 0
032 000000 0
033 000000 13580
034 000000 Y
035 000000 597
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
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 4315
044 000000 0
048 000000 0.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
<PAGE> PAGE 3
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 0.000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
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
071 A000000 0
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 6
072 B000000 82137
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 0
072 G000000 637
072 H000000 0
072 I000000 1249
072 J000000 0
072 K000000 206
072 L000000 30
072 M000000 5
072 N000000 258
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 5
072 S000000 0
<PAGE> PAGE 4
072 T000000 4315
072 U000000 0
072 V000000 0
072 W000000 2373
072 X000000 9078
072 Y000000 82
072 Z000000 73141
072AA000000 20691
072BB000000 0
072CC010000 0
072CC020000 8065
072DD010000 41401
072DD020000 31305
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 0
074 M000000 2991385
074 N000000 2991385
074 O000000 0
074 P000000 130
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 2532
074 S000000 0
074 T000000 2988723
074 U010000 309039
074 U020000 276550
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 160393
074 Y000000 0
075 A000000 0
075 B000000 2766377
076 000000 0.00
<PAGE> PAGE 5
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 Y
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
SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> IDS FEDERAL INCOME FUND INC. CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 2991384782
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2991384782
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2661771
<TOTAL-LIABILITIES> 2661771
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2963390796
<SHARES-COMMON-STOCK> 309038894
<SHARES-COMMON-PRIOR> 276371646
<ACCUMULATED-NII-CURRENT> 1146200
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 31438913
<ACCUM-APPREC-OR-DEPREC> 55624928
<NET-ASSETS> 1577287150
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 89265314
<OTHER-INCOME> 0
<EXPENSES-NET> 16124323
<NET-INVESTMENT-INCOME> 73140991
<REALIZED-GAINS-CURRENT> 20691196
<APPREC-INCREASE-CURRENT> (8064606)
<NET-CHANGE-FROM-OPS> 85767581
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 41400799
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 145781609
<NUMBER-OF-SHARES-REDEEMED> 119811722
<SHARES-REINVESTED> 6697361
<NET-CHANGE-IN-ASSETS> 421485345
<ACCUMULATED-NII-PRIOR> 711325
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 52130109
<GROSS-ADVISORY-FEES> 3761815
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16206433
<AVERAGE-NET-ASSETS> 1478511862
<PER-SHARE-NAV-BEGIN> 5.08
<PER-SHARE-NII> .14
<PER-SHARE-GAIN-APPREC> .02
<PER-SHARE-DIVIDEND> .14
<PER-SHARE-DISTRIBUTIONS> .00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.10
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> IDS FEDERAL INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 2991384782
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2991384782
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2661771
<TOTAL-LIABILITIES> 2661771
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2963390796
<SHARES-COMMON-STOCK> 247040972
<SHARES-COMMON-PRIOR> 205993898
<ACCUMULATED-NII-CURRENT> 1146200
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 31438913
<ACCUM-APPREC-OR-DEPREC> 55624928
<NET-ASSETS> 1260825184
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 89265314
<OTHER-INCOME> 0
<EXPENSES-NET> 16124323
<NET-INVESTMENT-INCOME> 73140991
<REALIZED-GAINS-CURRENT> 20691196
<APPREC-INCREASE-CURRENT> (8064606)
<NET-CHANGE-FROM-OPS> 85767581
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 27468283
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14884663
<NUMBER-OF-SHARES-REDEEMED> 108841691
<SHARES-REINVESTED> 5004102
<NET-CHANGE-IN-ASSETS> 421485345
<ACCUMULATED-NII-PRIOR> 711325
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 52130109
<GROSS-ADVISORY-FEES> 3007057
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16206433
<AVERAGE-NET-ASSETS> 1135217887
<PER-SHARE-NAV-BEGIN> 5.08
<PER-SHARE-NII> .12
<PER-SHARE-GAIN-APPREC> .02
<PER-SHARE-DIVIDEND> .12
<PER-SHARE-DISTRIBUTIONS> 5.10
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.10
<EXPENSE-RATIO> 1.61
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> IDS FEDERAL INCOME FUND CLASS Y
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 2991384782
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2991384782
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2661771
<TOTAL-LIABILITIES> 2661771
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2963390796
<SHARES-COMMON-STOCK> 29508809
<SHARES-COMMON-PRIOR> 23441515
<ACCUMULATED-NII-CURRENT> 1146200
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 31438913
<ACCUM-APPREC-OR-DEPREC> 55624928
<NET-ASSETS> 150610677
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 89265314
<OTHER-INCOME> 0
<EXPENSES-NET> 16124323
<NET-INVESTMENT-INCOME> 73140991
<REALIZED-GAINS-CURRENT> 20691196
<APPREC-INCREASE-CURRENT> (8064606)
<NET-CHANGE-FROM-OPS> 85767581
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3837034
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10456783
<NUMBER-OF-SHARES-REDEEMED> 5125331
<SHARES-REINVESTED> 735842
<NET-CHANGE-IN-ASSETS> 421485345
<ACCUMULATED-NII-PRIOR> 711325
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 52130109
<GROSS-ADVISORY-FEES> 359205
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16206433
<AVERAGE-NET-ASSETS> 135137535
<PER-SHARE-NAV-BEGIN> 5.08
<PER-SHARE-NII> .14
<PER-SHARE-GAIN-APPREC> .02
<PER-SHARE-DIVIDEND> .14
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.10
<EXPENSE-RATIO> .78
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
EXHIBIT 77D for IDS Federal Income Fund
At the Board of Directors meetings held on October 7-8, 1998, the following
investment policies were eliminated:
The Fund will not pledge or mortgage its assets beyond 15% of total assets.
The Fund will not invest more than 5% of its total assets in securities of
domestic or foreign companies, including any predecessors, that have a record of
less than three years continuous operations.
The Fund will not invest more than 5% of its net assets in warrants.
The Fund will not invest in exploration or development programs such as oil, gas
or mineral leases.
