<PAGE> PAGE 1
000 B000000 04/30/97
000 C000000 0000858372
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 CASH ACCOUNT TRUST
001 B000000 811-5970
001 C000000 3125377000
002 A000000 222 SOUTH RIVERSIDE PLAZA
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60606
002 D020000 5808
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 GOVERNMENT SECURITIES PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 TAX-EXEMPT PORTFOLIO
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 ZURICH KEMPER INVESTMENTS, INC.
008 B00AA01 A
008 C00AA01 801-6634
008 D01AA01 CHICAGO
008 D02AA01 IL
008 D03AA01 60606
008 D04AA01 5808
010 A00AA01 ZURICH KEMPER DISTRIBUTORS, INC.
010 B00AA01 8-47765
010 C01AA01 CHICAGO
010 C02AA01 IL
010 C03AA01 60606
<PAGE> PAGE 2
010 C04AA01 5808
011 A00AA01 ZURICH KEMPER DISTRIBUTORS, INC.
011 B00AA01 8-47765
011 C01AA01 CHICAGO
011 C02AA01 IL
011 C03AA01 60606
011 C04AA01 5808
012 A00AA01 ZURICH KEMPER SERVICE COMPANY
012 B00AA01 84-1713
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60606
014 A00AA01 ZURICH KEMPER DISTRIBUTORS, INC.
014 B00AA01 8-47765
014 A00AA02 GRUNTAL SECURITIES, INC.
014 B00AA02 8-31022
014 A00AA03 THE GMS GROUP, INC.
014 B00AA03 8-23936
015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
015 A00AA02 STATE STREET BANK AND TRUST COMPANY
015 B00AA02 S
015 C01AA02 BOSTON
015 C02AA02 MA
015 C03AA02 02110
015 E01AA02 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 58
019 C00AA00 KEMPERFNDS
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
<PAGE> PAGE 3
022 C000001 1680824
022 D000001 175205
022 A000002 LEHMAN BROTHERS INC.
022 B000002 13-2518466
022 C000002 1314569
022 D000002 162059
022 A000003 BEAR, STEARNS & CO., INC.
022 B000003 13-3299429
022 C000003 770036
022 D000003 700234
022 A000004 CS FIRST BOSTON CORPORATION
022 B000004 13-5659485
022 C000004 911877
022 D000004 44405
022 A000005 NOMURA SECURITIES INTERNATIONAL, INC.
022 B000005 13-2642206
022 C000005 904625
022 D000005 25001
022 A000006 SALOMON BROTHERS INC.
022 B000006 13-3082694
022 C000006 853000
022 D000006 73243
022 A000007 CHASE MANHATTAN BANK
022 B000007 13-2633612
022 C000007 793387
022 D000007 10993
022 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000008 13-5674085
022 C000008 734392
022 D000008 68220
022 A000009 MORGAN STANLEY & CO. INCORPORATED
022 B000009 13-2655998
022 C000009 557309
022 D000009 42977
022 A000010 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000010 13-2741729
022 C000010 349596
022 D000010 18198
023 C000000 9580900
023 D000000 1418862
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
<PAGE> PAGE 4
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 500000
048 A02AA00 0.220
048 B01AA00 500000
048 B02AA00 0.200
048 C01AA00 1000000
048 C02AA00 0.175
048 D01AA00 1000000
048 D02AA00 0.160
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 3000000
048 K02AA00 0.150
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
<PAGE> PAGE 5
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 Y
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
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 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 60000
081 A00AA00 Y
081 B00AA00 89
082 A00AA00 Y
<PAGE> PAGE 6
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
024 000100 Y
025 A000101 BEAR STEARNS COMPANIES INC.
025 B000101 13-3299429
025 C000101 D
025 D000101 18000
025 A000102 GOLDMAN, SACHS GROUP, L.P.
025 B000102 13-5108880
025 C000102 D
025 D000102 13000
025 A000103 LEHMAN BROTHERS HOLDINGS INC.
025 B000103 13-3216325
025 C000103 D
025 D000103 18000
025 A000104 MERRILL LYNCH & CO., INC.
025 B000104 13-5674085
025 C000104 D
025 D000104 12998
025 A000105 NOMURA HOLDING AMERICA INC.
025 B000105 13-2642206
025 C000105 D
025 D000105 9879
025 A000106 SALOMON, INC.
025 B000106 13-3082694
025 C000106 D
025 D000106 10000
025 D000107 0
025 D000108 0
028 A010100 350403
028 A020100 2649
028 A030100 0
028 A040100 147577
028 B010100 141672
028 B020100 0
028 B030100 0
028 B040100 141609
028 C010100 169522
028 C020100 5000
028 C030100 0
028 C040100 165896
028 D010100 128272
028 D020100 2302
028 D030100 0
028 D040100 213917
028 E010100 156191
<PAGE> PAGE 7
028 E020100 2027
028 E030100 0
028 E040100 128977
028 F010100 183775
028 F020100 2362
028 F030100 0
028 F040100 215034
028 G010100 1129835
028 G020100 14340
028 G030100 0
028 G040100 1013010
028 H000100 0
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 100
043 000100 3287
044 000100 3544
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 11.1
062 E000100 0.0
062 F000100 14.0
062 G000100 0.0
062 H000100 0.0
062 I000100 75.9
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 32
063 B000100 0.0
064 A000100 Y
064 B000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
<PAGE> PAGE 8
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 12
072 B000100 30185
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 1150
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 965
072 K000100 0
072 L000100 49
072 M000100 16
072 N000100 141
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 24
<PAGE> PAGE 9
072 S000100 8
072 T000100 3287
072 U000100 0
072 V000100 0
072 W000100 10
072 X000100 5650
072 Y000100 175
072 Z000100 24710
072AA000100 0
072BB000100 1416
072CC010100 1416
072CC020100 0
072DD010100 24710
072DD020100 0
072EE000100 0
073 A010100 0.0451
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 65000
074 C000100 525636
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 1383
074 M000100 0
074 N000100 592019
074 O000100 0
074 P000100 433
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 6639
074 S000100 0
074 T000100 584947
074 U010100 584947
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 1.0000
074 X000100 64097
074 Y000100 0
075 A000100 547802
075 B000100 0
<PAGE> PAGE 10
076 000100 0.00
024 000200 N
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 352433
028 A020200 2099
028 A030200 0
028 A040200 71370
028 B010200 84159
028 B020200 0
028 B030200 0
028 B040200 77698
028 C010200 124031
028 C020200 3959
028 C030200 0
028 C040200 125532
028 D010200 97329
028 D020200 2044
028 D030200 0
028 D040200 94870
028 E010200 105848
028 E020200 1879
028 E030200 0
028 E040200 99768
028 F010200 156297
028 F020200 2236
028 F030200 0
028 F040200 138748
028 G010200 920097
028 G020200 12217
028 G030200 0
028 G040200 607986
028 H000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 100
043 000200 2127
044 000200 2273
062 A000200 Y
062 B000200 0.0
<PAGE> PAGE 11
062 C000200 33.9
062 D000200 71.4
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 25
063 B000200 0.0
064 A000200 Y
064 B000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
<PAGE> PAGE 12
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 12
072 B000200 19512
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 744
072 G000200 0
072 H000200 0
072 I000200 0
072 J000200 489
072 K000200 0
072 L000200 30
072 M000200 8
072 N000200 87
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 12
072 S000200 4
072 T000200 2127
072 U000200 0
072 V000200 0
072 W000200 5
072 X000200 3506
072 Y000200 261
072 Z000200 16267
072AA000200 0
072BB000200 0
072CC010200 0
072CC020200 0
072DD010200 16267
072DD020200 0
072EE000200 0
073 A010200 0.0459
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 389000
074 C000200 184636
074 D000200 0
074 E000200 0
<PAGE> PAGE 13
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 3236
074 M000200 0
074 N000200 576872
074 O000200 30000
074 P000200 583
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 1788
074 S000200 0
074 T000200 544501
074 U010200 544501
074 U020200 0
074 V010200 1.00
074 V020200 0.00
074 W000200 1.0004
074 X000200 62116
074 Y000200 0
075 A000200 354577
075 B000200 0
076 000200 0.00
024 000300 N
025 D000301 0
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 75336
028 A020300 336
028 A030300 0
028 A040300 16194
028 B010300 30280
028 B020300 0
028 B030300 0
028 B040300 26986
028 C010300 28295
028 C020300 636
028 C030300 0
028 C040300 28920
028 D010300 17639
028 D020300 308
<PAGE> PAGE 14
028 D030300 0
028 D040300 21339
028 E010300 22376
028 E020300 255
028 E030300 0
028 E040300 23428
028 F010300 147770
028 F020300 410
028 F030300 0
028 F040300 56959
028 G010300 321696
028 G020300 1945
028 G030300 0
028 G040300 173826
028 H000300 0
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 100
043 000300 506
044 000300 563
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 101.2
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 18
063 B000300 0.0
064 A000300 Y
064 B000300 N
070 A010300 Y
070 A020300 N
070 B010300 N
070 B020300 N
<PAGE> PAGE 15
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 N
070 O010300 N
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 12
072 B000300 3634
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 212
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 141
072 K000300 0
072 L000300 10
072 M000300 3
072 N000300 87
072 O000300 0
<PAGE> PAGE 16
072 P000300 0
072 Q000300 0
072 R000300 4
072 S000300 2
072 T000300 506
072 U000300 0
072 V000300 0
072 W000300 3
072 X000300 968
072 Y000300 143
072 Z000300 2809
072AA000300 0
072BB000300 0
072CC010300 0
072CC020300 0
072DD010300 2809
072DD020300 0
072EE000300 0
073 A010300 0.0278
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 223340
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 2005
074 K000300 0
074 L000300 902
074 M000300 0
074 N000300 226247
074 O000300 0
074 P000300 108
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 5348
074 S000300 0
074 T000300 220791
074 U010300 220791
074 U020300 0
074 V010300 1.00
074 V020300 0.00
074 W000300 0.9999
074 X000300 6169
<PAGE> PAGE 17
074 Y000300 0
075 A000300 101204
075 B000300 0
076 000300 0.00
SIGNATURE JEROME L. DUFFY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1997
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000858372
<NAME> CASH ACCOUNT TRUST
<SERIES>
<NUMBER> 01
<NAME> MONEY MARKET PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 590,636
<INVESTMENTS-AT-VALUE> 590,636
<RECEIVABLES> 1,383
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 592,019
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,072
<TOTAL-LIABILITIES> 7,072
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 584,947
<SHARES-COMMON-STOCK> 584,947
<SHARES-COMMON-PRIOR> 455,025
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 584,947
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 30,185
<OTHER-INCOME> 0
<EXPENSES-NET> (5,475)
<NET-INVESTMENT-INCOME> 24,710
<REALIZED-GAINS-CURRENT> (1,416)
<APPREC-INCREASE-CURRENT> 1,416
<NET-CHANGE-FROM-OPS> 24,710
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (24,710)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,030,788
<NUMBER-OF-SHARES-REDEEMED> (1,925,798)
<SHARES-REINVESTED> 24,932
<NET-CHANGE-IN-ASSETS> 129,922
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,150
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,650
<AVERAGE-NET-ASSETS> 547,802
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1997
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000858372
<NAME> CASH ACCOUNT TRUST
<SERIES>
<NUMBER> 02
<NAME> GOVERNMENT SECURITIES PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1996
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 573,636
<INVESTMENTS-AT-VALUE> 573,636
<RECEIVABLES> 3,236
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 576,872
<PAYABLE-FOR-SECURITIES> 30000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,371
<TOTAL-LIABILITIES> 32,371
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 544,501
<SHARES-COMMON-STOCK> 544,501
<SHARES-COMMON-PRIOR> 189,919
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 544,501
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 19,512
<OTHER-INCOME> 0
<EXPENSES-NET> (3,245)
<NET-INVESTMENT-INCOME> 16,267
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 16,267
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,267)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,283,520
<NUMBER-OF-SHARES-REDEEMED> (945,704)
<SHARES-REINVESTED> 16,766
<NET-CHANGE-IN-ASSETS> 354,582
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 744
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,506
<AVERAGE-NET-ASSETS> 354,577
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .92
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1997
ANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000858372
<NAME> CASH ACCOUNT TRUST
<SERIES>
<NUMBER> 03
<NAME> TAX-EXEMPT PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 223,340
<INVESTMENTS-AT-VALUE> 223,340
<RECEIVABLES> 2,907
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 226,247
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,456
<TOTAL-LIABILITIES> 5,456
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 220,791
<SHARES-COMMON-STOCK> 220,791
<SHARES-COMMON-PRIOR> 66,981
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 220,791
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,634
<OTHER-INCOME> 0
<EXPENSES-NET> (825)
<NET-INVESTMENT-INCOME> 2,809
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,809
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,809)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 446,705
<NUMBER-OF-SHARES-REDEEMED> (295,820)
<SHARES-REINVESTED> 2,925
<NET-CHANGE-IN-ASSETS> 153,810
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 212
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 968
<AVERAGE-NET-ASSETS> 101,204
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
SUPPLEMENTARY REPORT OF INDEPENDENT AUDITORS
Board of Trustees
Kemper Funds
In planning and performing our audit of the financial statements of
each of the Kemper Funds listed in Exhibit A attached hereto (the
"Funds") for the period ended as of the date listed in Exhibit A
attached hereto ("Report Date"), we considered their internal control
structure, including procedures for safeguarding securities, in order
to determine our auditing procedures for the purpose of expressing
our opinion on their financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal
control structure.
The management of the Funds is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of internal control
structure policies and procedures. Two of the objectives of an
internal control structure are to provide management with reasonable,
but not absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions are
executed in accordance with management's authorization and recorded
properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure,
errors or irregularities may occur and not be detected. Also,
projection of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control structure
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 the
specific internal control structure elements does not reduce to a
relatively low level the risk that errors or irregularities 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 the
internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined
above as of Report Date.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission.
ERNST & YOUNG LLP
Chicago, Illinois
June 13, 1997
Kemper Funds Exhibit A
April 30, 1997
Cash Account Trust-
Money Market Portfolio
Government Securities Portfolio
Tax-Exempt Portfolio
