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