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June 21, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Attn: Filing Desk, Stop 1-4
Washington, D.C. 20549-1004
RE: Rule 24f-2 Notice for
IDS Life Series Fund, Inc.
SEC File No. 2-97636/811-4299
Gentlemen:
[i] In accordance with the provisions of Rule 24f-2, IDS Life
Series Fund, Inc. hereby files its Rule 24f-2 Notice for the
fiscal year ended April 30, 1996 ("Fiscal Year").
[ii] Amount of securities registered other
than under 24f-2 which were unsold at
the beginning of the fiscal year. $ 0
[iii] Amount of securities registered during
the fiscal year other than under 24f-2. $ 0
[iv] Amount of securities sold during the
fiscal year. $191,513,490*
[v] Amount of securities sold pursuant to $191,513,490
24f-2.
[vi] Fee $191,513,490* / 2900 equals $ 0**
* Sales of $223,983,679 minus redemptions of $32,470,189.
Enclosed please find an opinion of counsel. The filing fee in the
amount of $0** has been sent by wire transfer.
If you have any questions, please contact the undersigned.
Very truly yours,
IDS LIFE SERIES FUND, INC.
Mary Ellyn Minenko
Counsel
(612) 671-3678
MEM/KB/rdh
Enclosures<PAGE>
PAGE 2
**Based on the letter dated June 20, 1995, Reference No. IP-3-95,
from the Office of Insurance Products, Division of Investment
Management to the American Counsel of Life Insurance.
<TABLE>
<CAPTION>
Money Government International
Equity Income Market Managed Securities Equity
Portfolio Portfolio Portfolio Portfolio Portfolio Portfolio
<S> <C> <C> <C> <C> <C> <C>
Shares registered in prior years 0 0 0 0 0 0
Share price on June 17, 1996 29.94 9.82 1.00 16.81 9.88 13.83
Value of shares 0 0 0 0 0 0
Shares registered in current years 0 0 0 0 0 0
Share price on June 17, 1996 29.94 9.82 1.00 16.81 9.88 13.83
Value of shares 0 0 0 0 0 0
* Aggregate Sales 88,683,165 19,816,755 13,350,871 66,706,594 2,824,747 32,601,547
Aggregate Redemptions 7,658,827 3,389,539 8,917,032 10,316,093 1,901,971 286,727
Securities Sold during Fiscal Year 81,024,338 16,427,216 4,433,839 56,390,501 922,776 32,314,820
Fee 27,939.43 5,664.55 1,528.91 19,445.00 318.20 11,143.04
</TABLE>
EXHIBIT INDEX
(b) (10) OPINION OF COUNSEL
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June 21, 1996
IDS Life Insurance Company
IDS Tower 10
Minneapolis, MN 55440-0010
Gentlemen:
I have examined the Articles of Incorporation and the By-Laws of
the Company and all necessary certificates, permits, minute books,
documents and records of the Company, and the applicable statutes
of the State of Minnesota, and it is my opinion:
(a) That the Company is a corporation duly organized and existing
under the laws of the State of Minnesota with an authorized
capital stock of $10,000,000,000 shares, all of $.001 par
value, that such shares may be issued as full or fractional
shares and that on April 30, 1996, 58,779,696 shares were
issued and outstanding;
(b) That all such authorized shares are, under the laws of the
State of Minnesota, redeemable as provided in the Articles of
Incorporation of the Company and upon redemption shall have
the status of authorized and unissued shares;
(c) That the Company registered on June 15, 1985, an indefinite
number of shares pursuant to Rule 24f-2 and is herewith filing
a Rule 24f-2 Notice covering the shares sold during its Fiscal
Year ended April 30, 1996; and
(d) That shares which were sold at not less that their par value
and in accordance with applicable federal and state securities
laws were legally issued, fully paid and nonassessable.
I hereby consent that the foregoing opinion may be used in
connection with the Rule 24f-2 Notice.
Sincerely,
Mary Ellyn Minenko
Attorney at Law
(612) 671-3678
MEM/KB/rdh
