<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0000804171
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 U
001 A000000 DREYFUS PREMIER GNMA FUND
001 B000000 811-4880
001 C000000 2129226840
002 A000000 200 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10166
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
008 A000001 THE DREYFUS CORPORATION
008 B000001 A
008 C000001 801-8147
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10166
011 A000001 PREMIER MUTUAL FUND SERVICES, INC.
011 B000001 8-47312
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 DREYFUS TRANSFER, INC.
012 B000001 85-11312
012 C010001 PROVIDENCE
012 C020001 RI
012 C030001 02940
012 C040001 9671
013 A000001 ERNST & YOUNG LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10019
015 A000001 MELLON BANK, N.A.
015 B000001 C
015 C010001 PITTSBURGH
015 C020001 PA
015 C030001 15258
015 E030001 X
018 000000 Y
019 A000000 Y
<PAGE> PAGE 2
019 B000000 164
019 C000000 DREYFUSFAM
022 A000001 G.X. CLARKE & CO.
022 B000001 13-2969143
022 C000001 150718
022 D000001 122545
022 A000002 DONALDSON, LUFKIN & JENRETTE SEUCRITIES CORP.
022 B000002 13-2741729
022 C000002 107345
022 D000002 91473
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000003 13-5674085
022 C000003 106159
022 D000003 81757
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004 94361
022 D000004 56129
022 A000005 BEAR, STEARNS & CO. INC.
022 B000005 13-3299429
022 C000005 74588
022 D000005 65212
022 A000006 CS FIRST BOSTON CORPORATION
022 B000006 13-5659485
022 C000006 55461
022 D000006 67871
022 A000007 PRUDENTIAL SECURITIES INCORPORATED
022 B000007 22-2347336
022 C000007 46776
022 D000007 47857
022 A000008 LEHMAN BROTHERS INC.
022 B000008 13-2518466
022 C000008 51596
022 D000008 36358
022 A000009 NOMURA SECURITIES INTERNATIONAL, INC.
022 B000009 13-2642206
022 C000009 48303
022 D000009 37688
022 A000010 GREENWICH PARTNERS, INC.
022 B000010 13-3176013
022 C000010 33397
022 D000010 29320
023 C000000 866080
023 D000000 779111
028 A010000 7149
028 A020000 373
028 A030000 0
028 A040000 9246
028 B010000 3068
028 B020000 371
028 B030000 0
<PAGE> PAGE 3
028 B040000 5278
028 C010000 3388
028 C020000 391
028 C030000 0
028 C040000 8611
028 D010000 4553
028 D020000 394
028 D030000 0
028 D040000 4858
028 E010000 4497
028 E020000 376
028 E030000 0
028 E040000 4855
028 F010000 3828
028 F020000 356
028 F030000 0
028 F040000 3864
028 G010000 26483
028 G020000 2261
028 G030000 0
028 G040000 36712
028 H000000 10822
029 000000 Y
030 A000000 53
030 B000000 4.50
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 53
033 000000 0
034 000000 Y
035 000000 65
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 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 193
044 000000 0
045 000000 Y
046 000000 N
<PAGE> PAGE 4
047 000000 Y
048 000000 0.550
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
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
055 A000000 Y
055 B000000 N
056 000000 N
057 000000 N
062 A000000 Y
062 B000000 4.5
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 6.0
062 N000000 111.5
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 21.7
064 A000000 N
064 B000000 N
071 A000000 599606
<PAGE> PAGE 5
071 B000000 611872
071 C000000 140974
071 D000000 425
072 A000000 12
072 B000000 8226
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 712
072 G000000 0
072 H000000 0
072 I000000 460
072 J000000 32
072 K000000 0
072 L000000 20
072 M000000 30
072 N000000 36
072 O000000 0
072 P000000 1
072 Q000000 0
072 R000000 37
072 S000000 28
072 T000000 193
072 U000000 0
072 V000000 0
072 W000000 19
072 X000000 1568
072 Y000000 0
072 Z000000 6658
072AA000000 1733
072BB000000 3164
072CC010000 0
072CC020000 4444
072DD010000 4849
072DD020000 1747
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 5292
074 D000000 138968
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 13
074 K000000 0
<PAGE> PAGE 6
074 L000000 959
074 M000000 16
074 N000000 145248
074 O000000 26226
074 P000000 74
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 710
074 S000000 0
074 T000000 118238
074 U010000 5984
074 U020000 2323
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 4978
074 Y000000 46965
075 A000000 0
075 B000000 92183
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078 000000 N
080 A000000 VIGILANT INSURANCE COMPANY
080 B000000 NATIONAL UNION FIRE INS. CO. OF PITTSBURGH PA
080 C000000 125000
081 A000000 Y
081 B000000 186
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE STEPHANIE PIERCE
TITLE V.P. AND ASST. TREAS
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000804171
<NAME> DREYFUS PREMIER GNMA FUND
<SERIES>
<NUMBER> 1
<NAME> CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 146625
<INVESTMENTS-AT-VALUE> 144260
<RECEIVABLES> 972
<ASSETS-OTHER> 16
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145248
<PAYABLE-FOR-SECURITIES> 26226
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 784
<TOTAL-LIABILITIES> 27010
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 125709
<SHARES-COMMON-STOCK> 5984
<SHARES-COMMON-PRIOR> 6339
<ACCUMULATED-NII-CURRENT> 68
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5175)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2364)
<NET-ASSETS> 85158
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8226
<OTHER-INCOME> 0
<EXPENSES-NET> 1568
<NET-INVESTMENT-INCOME> 6658
<REALIZED-GAINS-CURRENT> (1431)
<APPREC-INCREASE-CURRENT> (4444)
<NET-CHANGE-FROM-OPS> 783
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4849)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2920
<NUMBER-OF-SHARES-REDEEMED> (3503)
<SHARES-REINVESTED> 228
<NET-CHANGE-IN-ASSETS> (20467)
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> (3745)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 712
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 1568
<AVERAGE-NET-ASSETS> 92183
<PER-SHARE-NAV-BEGIN> 14.89
<PER-SHARE-NII> .780
<PER-SHARE-GAIN-APPREC> (.670)
<PER-SHARE-DIVIDEND> (.770)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.23
<EXPENSE-RATIO> .011
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000804171
<NAME> DREYFUS PREMIER GNMA FUND
<SERIES>
<NUMBER> 1
<NAME> CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 146625
<INVESTMENTS-AT-VALUE> 144260
<RECEIVABLES> 972
<ASSETS-OTHER> 16
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145248
<PAYABLE-FOR-SECURITIES> 26226
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 784
<TOTAL-LIABILITIES> 27010
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 125709
<SHARES-COMMON-STOCK> 2165
<SHARES-COMMON-PRIOR> 2803
<ACCUMULATED-NII-CURRENT> 68
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5175)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2364)
<NET-ASSETS> 30833
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8226
<OTHER-INCOME> 0
<EXPENSES-NET> 1568
<NET-INVESTMENT-INCOME> 6658
<REALIZED-GAINS-CURRENT> (1431)
<APPREC-INCREASE-CURRENT> (4444)
<NET-CHANGE-FROM-OPS> 783
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1628)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 815
<NUMBER-OF-SHARES-REDEEMED> (1527)
<SHARES-REINVESTED> 74
<NET-CHANGE-IN-ASSETS> (20467)
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> (3745)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 712
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 1568
<AVERAGE-NET-ASSETS> 34533
<PER-SHARE-NAV-BEGIN> 14.90
<PER-SHARE-NII> .700
<PER-SHARE-GAIN-APPREC> (.670)
<PER-SHARE-DIVIDEND> (.690)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.24
<EXPENSE-RATIO> .016
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000804171
<NAME> DREYFUS PREMIER GNMA FUND
<SERIES>
<NUMBER> 1
<NAME> CLASS C
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 146625
<INVESTMENTS-AT-VALUE> 144260
<RECEIVABLES> 972
<ASSETS-OTHER> 16
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145248
<PAYABLE-FOR-SECURITIES> 26226
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 784
<TOTAL-LIABILITIES> 27010
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 125709
<SHARES-COMMON-STOCK> 158
<SHARES-COMMON-PRIOR> 172
<ACCUMULATED-NII-CURRENT> 68
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5175)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2364)
<NET-ASSETS> 2247
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8226
<OTHER-INCOME> 0
<EXPENSES-NET> 1568
<NET-INVESTMENT-INCOME> 6658
<REALIZED-GAINS-CURRENT> (1431)
<APPREC-INCREASE-CURRENT> (4444)
<NET-CHANGE-FROM-OPS> 783
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (119)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 187
<NUMBER-OF-SHARES-REDEEMED> (204)
<SHARES-REINVESTED> 3
<NET-CHANGE-IN-ASSETS> (20467)
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> (3745)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 712
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 1568
<AVERAGE-NET-ASSETS> 2664
<PER-SHARE-NAV-BEGIN> 14.90
<PER-SHARE-NII> .660
<PER-SHARE-GAIN-APPREC> (.660)
<PER-SHARE-DIVIDEND> (.660)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.24
<EXPENSE-RATIO> .019
</TABLE>
Report of Independent Auditors
To the Shareholders and Board of Trustees of
Dreyfus Premier GNMA Fund
In planning and performing our audit of the financial statements of Dreyfus
Premier GNMA Fund for the year ended December 31, 1999, we considered its
internal control, including control activities 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 internal control.
The management of Dreyfus Premier GNMA Fund is responsible for establishing
and maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess the expected
benefits and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing
financial statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles. Those controls
include the safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, error or fraud may
occur and not be detected. Also, projection of any evaluation of internal
control 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 internal control would not necessarily disclose all
matters in internal control 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 one or more of the internal control components does not reduce
to a relatively low level the risk that misstatements caused by error or
fraud 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 internal control and its
operation, including controls for safeguarding securities, that we consider
to be material weaknesses as defined above at December 31, 1999.
This report is intended solely for the information and use of management,
the Board of Trustees of Dreyfus Premier GNMA Fund, and the Securities and
Exchange Commission and is not intended to be and should not be used by
anyone other than these specified parties.
ERNST & YOUNG LLP
February 14, 2000
