Form N-CEN FPA NEW INCOME INC For: Sep 30

December 8, 2021 10:22 AM EST

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  X0404
  
    N-CEN
    
      LIVE
      
        
          0000099203
          XXXXXXXX
        
        811-01735
      
      
        false
        false
        false
      
      N-1A
    
    
      
        
          S000010870
          
            C000030124
          
        
      
    
  
  
    
    
      FPA NEW INCOME INC
      811-01735
      0000099203
      549300EH2YCK6M0NO786
      11601 WILSHIRE BOULEVARD
      SUITE 1200
      LOS ANGELES
      90025
      US-CA
      US
      310-473-0225
      
        
      
      
        
          State Street Bank and Trust Company
          1 Lincoln Street
          Boston
          
          02111
          617-786-3000
          Custody and Accounting Records.
        
      
      N
      N
      
      N-1A
      1
      Y
      
        
          Mark L. Lipson
          N/A
          N
          
            
          
        
        
          J. Richard Atwood
          N/A
          Y
          
            
          
        
        
          A. Robert Pisano
          N/A
          N
          
            
          
        
        
          Alfred E. Osborne, Jr.
          N/A
          N
          
            
          
        
        
          Patrick B. Purcell
          N/A
          N
          
            
          
        
        
          Sandra Brown
          N/A
          N
          
            
          
        
      
      
        
          Karen E. Richards
          N/A
          11601 Wilshire Boulevard
          Suite 1200
          Los Angeles
          
          90025
          XXXXXX
          N
          
            
          
        
      
      N
      N
      N
      N
      
      N
      N
      
        
          UMB Distribution Services, LLC
          8-42106
          000025938
          00000000000000000000
          
          N
        
      
      N
      
        
          Ernst & Young LLP
          42
          00000000000000000000
          
        
      
      N
      N
      N
      N
      N
      N
      N
    
    
      
        FPA New Income, Inc.
        S000010870
        549300EH2YCK6M0NO786
        N
        1
        0
        0
        
          
        
        N/A
        N
        N
        Y
        N
        N/A
        N/A
        N/A
        
          Rule 32a-4 (17 CFR 270.32a-4)
        
        Y
        Y
        N
        N
        
          
            First Pacific Advisors, LP
            801-67160
            000141823
            5493005X1UK1CXKK1241
            
            N
          
        
        
          
            UMB Fund Services, Inc.
            084-05792
            00000000000000000000
            
            N
            N
          
        
        N
        
          
            Standard & Poor's Financial Services LLC
            549300U4VWNITEKO2881
            
            N
          
          
            PricingDirect Inc.
            549300WIC0TOJ7N7GD54
            
            N
          
          
            ICE Data Services, Inc.
            13-3668779
            Tax ID
            
            N
          
          
            Refinitiv US Holdings Inc.
            549300NF240HXJO7N016
            
            N
          
        
        N
        
          
            State Street Bank and Trust Company
            571474TGEMMWANRLN572
            
            N
            N
            Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
          
          
            Clearstream Banking S.A.
            549300OL514RA0SXJJ44
            LU
            N
            Y
            Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
          
          
            The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)
            2HI3YI5320L3RW6NJ957
            AU
            N
            Y
            Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
          
        
        N
        
          
            UMB Fund Services, Inc.
            084-05792
            SEC File Number
            
            N
            N
          
        
        N
        
          
            State Street Bank and Trust Company
            571474TGEMMWANRLN572
            
            N
            N
          
        
        N
        
          
            Credit Suisse Securities (USA) LLC
            8-422
            000000816
            1V8Y6QCX6YMJ2OELII46
            
            319.44000000
          
        
        319.44000000
        
          
            J.P. Morgan Securities LLC
            8-35008
            000000079
            ZBUT11V806EZRVTWT807
            
            4108275223.10000000
          
          
            HSBC Securities (USA) Inc.
            8-41562
            000019585
            CYYGQCGNHMHPSMRL3R97
            
            1005049526.65000000
          
          
            MUFG Securities Americas Inc.
            8-43026
            000019685
            K5HU16E3LMSVCCJJJ255
            
            886650475.79000000
          
          
            Wells Fargo Securities, LLC
            8-65876
            000126292
            VYVVCKR63DVZZN70PB21
            
            1089878581.74000000
          
          
            Brean Capital, LLC
            8-40742
            000023723
            254900ZZA1UBVDCNQ378
            
            11868612033.83000000
          
          
            Citigroup Global Markets Inc.
            8-8177
            000007059
            MBNUM2BPBDO7JBLYG310
            
            1044370201.79000000
          
          
            BofA Securities, Inc.
            8-69787
            000283942
            549300HN4UKV1E2R3U73
            
            2070678779.60000000
          
          
            Barclays Capital Inc.
            8-41342
            000019714
            AC28XWWI3WIBK2824319
            
            995456151.57000000
          
          
            Mischler Financial Group, Inc.
            8-48067
            000037818
            2549004IPXPSM9EJFC92
            
            8634498195.32000000
          
          
            State Street Bank and Trust Company
            N/A
            N/A
            571474TGEMMWANRLN572
            
            27019280000.00000000
          
        
        62852080563.29000000
        N
        10481643878.18384615
        N
        N
        N
        N
      
    
    
      true
    
    
  



Report of Independent Registered Public Accounting Firm

 

To the Shareholders and Board of Directors of FPA New Income, Inc.

In planning and performing our audit of the financial statements of FPA New Income, Inc. (the “Fund”) as of and for the year ended September 30, 2021, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A Fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. A Fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States).

<BCLPAGE>1</BCLPAGE>

 


 

However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of September 30, 2021.

This report is intended solely for the information and use of management and the Board of Directors of FPA New Income, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

 

/s/Ernst & Young LLP

 

Los Angeles, CA

November 23, 2021



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