OPPENHEIMER CASH RESERVES/CO/
24F-2NT, 1998-10-28
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 24F-2
                        Annual Notice of Securities Sold
                             Pursuant to Rule 24f-2

1.       Name and address of issuer:

         Oppenheimer Cash Reserves
         6803 South Tucson Way
         Englewood, Colorado 80112

2.       Name of each series or class of securities for which this Form is filed
         (If the Form is being filed for all series and classes of securities of
         the issuer, check the box but do not list series or classes):/ X /

3.       Investment Company Act File Number: 811-5582

         Securities Act File Number:  33-23223

4(a). Last day of fiscal year for which this Form is filed: 7/31/98

4(b).    / / Check  box if this Form is being  filed  late  (i.e.,  more than 90
         calendar  days  after  the  end  of the  issuer's  fiscal  year).  (See
         instruction A.2)

          Note:  If the Form is being filed late,  interest  must be paid on the
          registration fee due.

4(c).  / / Check box if this is the last  time the  issuer  will be filing  this
Form.

5. Calculation of registration fee:

         (i)      Aggregate sale price of securities sold during the
                  fiscal year pursuant to section 24(f):$1,200,192,594

         (ii)     Aggregate  price of securities  redeemed or repurchased during
                  the fiscal year:$1,127,713,814

         (iii)   Aggregate price of securities  redeemed or repurchased  during
                  any prior  fiscal year ending no earlier than October 11, 1995
                  that  were not  previously  used to reduce  registration  fees
                  payable to the Commission:$31,219,559

          (iv) Total available  redemption  credits [add items 5(ii) and 5(iii):
               $1,158,933,373

         (v)      Net sales - if Item 5(i) is greater than Item 5(iv)  [subtract
                  Item 5(iv) from Item 5(i)]$41,259,221


<PAGE>


         (vi)     Redemption  credits  available  for use in future  years -- if
                  Item 5(i) is less than Item  5(iv)  [subtract  Item 5(iv) from
                  Item 5(i):-0-

         (vii)    Multiplier for determining  registration  fee (See Instruction
                  C.9)x.000278

         (viii)   Registration  fee due  [multiple  Item  5(v)  by Item  5(vii)]
                  (enter "0" if no fee is due):$11,470

6.       Prepaid Shares

         If the response to item 5(i) was  determined  by deducting an amount of
         securities  that  were  registered  under  the  Securities  Act of 1933
         pursuant  to  rule  24e-2  as  in  effect  before  [effective  date  of
         rescisison of rule 24e-2], then report the amount of securities (number
         of shares or other units)  deducted here:  -0-. If there is a number of
         shares or other  units  that were  registered  pursuant  to rule  24e-2
         remaining  unsold at the end of the fiscal  year for which this form is
         filed that are  available for use by the issuer in future fiscal years,
         then state that number here: -0-.

7.        Interest due N/A

          if this Form is being  filed  more  than 90 days  after the end of the
          issuer's fiscal year (see Instruction D):N/A

8.        Total of the amount of the registration fee due plus any interest due
          [line 5(viii) plus line 7]: $11,470

9.  Date  the  registration  fee  and  any  interest  payment  was  sent  to the
Commission's lockbox depository:

                  Method of Delivery: Wire Transfer - Fed Wire #3183

                                   SIGNATURES

This  report has been  signed  below by the  following  persons on behalf of the
issuer and in the capacities and on the dates indicated.



/s/ Robert J. Bishop
By ______________________________________
   Robert J. Bishop, Assistant Treasurer

Date October 28, 1998

cc:      Allan Adams, Esq.
         Katherine P. Feld, Esq.




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