485BPOS 2012-08-31 0000770161 2012-10-31 AMERICAN FUNDS INCOME SERIES false 2012-10-31 2012-11-01 <tt>The fund pays transaction costs, such as commissions, when it buys and sells <br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may <br />indicate higher transaction costs and may result in higher taxes when fund shares <br />are held in a taxable account. These costs, which are not reflected in annual fund <br />operating expenses or in the example, affect the fund's investment results. During<br />the most recent fiscal year, the fund's portfolio turnover rate was 353% of the <br />average value of its portfolio.</tt> <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExample_S000009235Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.americanfunds.com/role/BarChartData_S000009235Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>The fund's investment objective is to provide a high level of current income<br />consistent with prudent investment risk and preservation of capital.</tt> <tt>This example is intended to help you compare the cost of investing in<br />the fund with the cost of investing in other mutual funds.<br /> <br />The example assumes that you invest $10,000 in the fund for the time periods<br />indicated and then redeem all of your shares at the end of those periods. The<br />example also assumes that your investment has a 5% return each year and that <br />the fund's operating expenses remain the same.</tt> <tt>Normally the fund's assets will be invested primarily in securities that are<br />guaranteed or sponsored by the U.S. government, including bonds and other debt<br />securities denominated in U.S. dollars. The fund may also invest in<br />mortgage-backed securities issued by federal agencies and instrumentalities that<br />are not backed by the full faith and credit of the U.S. government. The fund<br />invests in debt securities with a wide range of maturities.<br /> <br />The investment adviser uses a system of multiple portfolio counselors in<br />managing the fund's assets. Under this approach, the portfolio of the fund is<br />divided into segments managed by individual counselors who decide how their<br />respective segments will be invested.<br /> <br />The fund relies on the professional judgment of its investment adviser to make<br />decisions about the fund's portfolio investments. The basic investment<br />philosophy of the investment adviser is to seek to invest in attractively priced<br />securities that, in its opinion, represent good, long-term investment<br />opportunities. The investment adviser believes that an important way to<br />accomplish this is by analyzing various factors, which may include the credit<br />strength of the issuer, prices of similar securities issued by comparable<br />issuers, anticipated changes in interest rates, general market conditions and<br />other factors pertinent to the particular security being evaluated. Securities<br />may be sold when the investment adviser believes that they no longer represent<br />relatively attractive investment opportunities.</tt> U.S. Government Securities Fund ® You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in American Funds. Example After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Investment objective Past investment results (before and after taxes) are not predictive of future investment results. The Lipper General U.S. Government Funds Average includes the fund and other funds that disclose investment objectives and/or strategies reasonably comparable to the fund's objective and/or strategies. The Consumer Price Index provides a comparison of the fund's results to inflation. You may lose money by investing in the fund. Principal risks Shareholder fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions your costs would be: 3.53 Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-favored arrangement, such as a 401(k) plan, individual retirement account (IRA) or 529 college savings plan. Calendar year total returns for Class A shares (Results do not include a sales charge; if a sales charge were included, results would be lower.) (Results do not include a sales charge; if a sales charge were included, results would be lower.) Investment results 100000 The following bar chart shows how the fund's investment results have varied from year to year, and the following table shows how the fund's average annual total returns for various periods compare with different broad measures of market results. <tt>Highest/Lowest quarterly results during this period were:<br /><br />Highest&#xA0;&#xA0;5.34% (quarter ended December 31, 2008)<br />Lowest -2.00% (quarter ended June 30, 2004)<br /><br />The fund's total return for the nine months ended September 30, 2012, was 2.34%.</tt> Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment) Average annual total returns For the periods ended December 31, 2011 (with maximum sales charge): <tt>The following bar chart shows how the fund's investment results have varied from<br />year to year, and the following table shows how the fund's average annual total<br />returns for various periods compare with different broad measures of market<br />results.</tt> Portfolio turnover <tt>This section describes the principal risks associated with the fund's principal<br />investment strategies. You may lose money by investing in the fund. The<br />likelihood of loss may be greater if you invest for a shorter period of time.<br /> <br />Market conditions - The prices of, and the income generated by, the securities<br />held by the fund may decline due to market conditions and other factors,<br />including those directly involving the issuers of securities held by the fund.<br /> <br />Investing in bonds - Rising interest rates will generally cause the prices of<br />bonds and other debt securities to fall. Longer maturity debt securities may be<br />subject to greater price fluctuations than shorter maturity debt securities.<br /> <br />Investing in securities backed by the U.S. government - Securities backed by the<br />U.S. Treasury or the full faith and credit of the U.S. government are guaranteed<br />only as to the timely payment of interest and principal when held to maturity.<br />Accordingly, the current market values for these securities will fluctuate with<br />changes in interest rates. Securities issued by government-sponsored entities<br />and federal agencies and instrumentalities that are not backed by the full faith<br />and credit of the U.S. government are neither issued nor guaranteed by the U.S.<br />government.<br /> <br />Investing in mortgage-related securities - Mortgage-related securities are<br />subject to prepayment risk as well as the risks associated with investing in<br />debt securities in general. If interest rates fall and the loans underlying<br />these securities are prepaid faster than expected, the fund may have to reinvest<br />the prepaid principal in lower yielding securities, thus reducing the fund's<br />income. Conversely, if interest rates increase and the loans underlying the<br />securities are prepaid more slowly than expected, the expected duration of the<br />securities may be extended, reducing the cash flow for potential reinvestment in<br />higher yielding securities.<br />&#xA0;&#xA0;<br />Management - The investment adviser to the fund actively manages the fund's<br />investments. Consequently, the fund is subject to the risk that the methods and<br />analyses employed by the investment adviser in this process may not produce the<br />desired results. This could cause the fund to lose value or its investment<br />results to lag relevant benchmarks or other funds with similar objectives.<br /> <br />It is important to note that neither your investment in the fund nor the fund's<br />yield is guaranteed by the U.S. government.<br /> <br />Your investment in the fund is not a bank deposit and is not insured or<br />guaranteed by the Federal Deposit Insurance Corporation or any other<br />governmental agency, entity or person. You should consider how this fund fits<br />into your overall investment program.</tt> Fees and expenses of the fund After-tax returns are shown only for Class A shares; after-tax returns for other share classes will vary. Principal investment strategies americanfunds.com <tt>The following bar chart shows how the fund's investment results have varied from<br />year to year, and the following table shows how the fund's average annual total<br />returns for various periods compare with different broad measures of market<br />results. This information provides some indication of the risks of investing in<br />the fund. The Lipper General U.S. Government Funds Average includes the fund and<br />other funds that disclose investment objectives and/or strategies reasonably<br />comparable to the fund's objective and/or strategies. The Consumer Price Index<br />provides a comparison of the fund's results to inflation. Past investment<br />results (before and after taxes) are not predictive of future investment<br />results. Updated information on the fund's investment results can be obtained by<br />visiting americanfunds.com.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the fund. You may qualify for sales charge discounts if you and your<br />family invest, or agree to invest in the future, at least $100,000 in American<br />Funds. More information about these and other discounts is available from your<br />financial professional and in the "Sales charge reductions and waivers" section<br />on page 26 of the prospectus and on page 58 of the fund's statement of<br />additional information.</tt> <div style="display:none">~ http://www.americanfunds.com/role/OperatingExpensesData_S000009235Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> For the share classes listed below, you would pay the following if you did not redeem your shares: <div style="display:none">~ http://www.americanfunds.com/role/PerformanceTableData_S000009235Member column dei_LegalEntityAxis compact * column rr_PerformanceMeasureAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>After-tax returns are shown only for Class A shares; after-tax returns for other<br />share classes will vary. After-tax returns are calculated using the highest<br />individual federal income tax rates in effect during each year of the periods<br />shown and do not reflect the impact of state and local taxes. Your actual<br />after-tax returns depend on your individual tax situation and likely will differ<br />from the results shown above. In addition, after-tax returns are not relevant if<br />you hold your fund shares through a tax-favored arrangement, such as a 401(k)<br />plan, individual retirement account (IRA) or 529 college savings plan.</tt> Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. <div style="display:none">~ http://www.americanfunds.com/role/ExpenseExampleNoRedemption_S000009235Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Class A annualized 30-day yield at August 31, 2012: 0.80%&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br />(For current yield information, please call American FundsLine&#xAE; <br />at 800/325-3590.)</tt> <div style="display:none">~ http://www.americanfunds.com/role/ShareholderFeesData_S000009235Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Consumer Price Index 0.0296 0.0226 0.0248 0.0283 1985-10-17 Lipper General U.S. Government Funds Average (reflects no deductions for sales charges, account fees or taxes) 0.0844 0.0585 0.0497 0.0646 1985-10-17 Barclays U.S. Government/Mortgage-Backed Securities Index (reflects no deductions for sales charges, account fees, expenses or taxes) 0.0774 0.0656 0.0564 0.0752 1985-10-17 Share class A - After taxes on distributions and sale of fund shares 0.0273 0.0364 0.0304 1985-10-17 Share class A - After taxes on distributions 0.0259 0.0376 0.0311 1985-10-17 RGVGX 0 0.0000 Share class R-6 (before taxes) 28 87 343 152 0.0812 0.0007 0.0020 0.00 0.0000 0.0027 0.0597 2009-05-01 0.0000 GVTFX 0 0.0000 Share class F-2 (before taxes) 38 119 468 208 0.0801 0.0017 0.0020 0.00 0.0000 0.0037 0.0672 2008-08-07 0.0000 CGTFX 0 0.0000 Share class 529-F-1 (before taxes) 68 190 698 322 0.0791 0.0027 0.0020 0.0614 0.00 0.0000 0.0047 10 0.0456 2002-10-11 0.0000 CGTEX 0 0.0000 Share class 529-E (before taxes) 116 339 1258 578 0.0739 0.0025 0.0020 0.0562 0.00 0.0049 0.0094 10 0.0458 2002-03-07 0.0000 CGTCX 0 0.0000 Share class 529-C (before taxes) 269 169 504 1857 860 0.0584 0.0028 0.0020 1857 0.0509 504 860 0.00 0.0099 0.0147 10 0.0392 2002-02-19 0.0100 CGTBX 0 0.0000 Share class 529-B (before taxes) 670 170 907 1656 1065 0.0183 0.0029 0.0020 1656 0.0475 507 865 0.00 0.0099 0.0148 10 0.0406 2002-02-20 0.0500 CGTAX 0 0.0375 Share class 529-A (before taxes) 463 627 1307 803 0.0366 0.0027 0.0020 0.0511 0.00 0.0022 0.0069 10 0.0437 2002-02-20 0.0100 UGSFX 0 0.0000 Share class F-1 (before taxes) 62 195 762 340 0.0775 0.0016 0.0020 0.0599 0.00 0.0025 0.0490 0.0061 0.0487 2001-03-15 0.0000 UGSCX 0 0.0000 Share class C (before taxes) 243 143 443 1680 766 0.0591 0.0020 0.0020 1680 0.0516 443 766 0.00 0.0100 0.0408 0.0140 0.0412 2001-03-15 0.0100 UGSBX 0 0.0000 Share class B (before taxes) 637 137 828 1418 939 0.0196 0.0015 0.0020 1418 0.0488 428 739 0.00 0.0100 0.0429 0.0135 0.0505 2000-03-15 0.0500 RGVFX 0 0.0000 Share class R-5 (before taxes) 33 103 406 180 0.0806 0.0012 0.0020 0.0629 0.00 0.0000 0.0032 0.0524 2002-05-15 0.0000 RGVEX 0 0.0000 Share class R-4 (before taxes) 62 195 762 340 0.0773 0.0016 0.0020 0.0598 0.00 0.0025 0.0061 0.0486 2002-05-28 0.0000 RGVCX 0 0.0000 Share class R-3 (before taxes) 97 303 1166 525 0.0737 0.0025 0.0020 0.0561 0.00 0.0050 0.0095 0.0447 2002-06-06 0.0000 RGVBX 0 0.0000 Share class R-2 (before taxes) 139 434 1646 750 0.0693 0.0043 0.0020 0.0517 0.00 0.0074 0.0137 0.0405 2002-05-31 0.0000 RGVAX 0 0.0000 Share class R-1 (before taxes) 140 437 1657 755 0.0693 0.0018 0.0020 0.0513 0.00 0.0100 0.0138 0.0398 2002-06-13 0.0000 AMUSX 0.0902 0 Lowest Highest 0.0375 800/325-3590 2008-12-31 Share class A - Before taxes 434 2008-12-31 0.0080 560 -0.02 0.0288 0.0569 1097 697 0.0667 0.0534 0.0375 0.0016 0.0773 0.0020 2004-06-30 0.0216 0.0518 0.0227 The fund's total return for the nine months ended 0.0777 0.00 0.0191 Class A annualized 30-day yield at August 31, 2012: 0.0024 0.0449 0.0060 0.0315 0.0641 1985-10-17 0.0534 0.0100 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025132Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025133Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025134Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025135Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025136Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025137Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025138Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025139Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025140Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025141Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025142Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025143Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025144Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000025145Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000068600Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:C000077855Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberrr:AfterTaxesOnDistributionsMemberck0000770161:C000025132Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0000770161:C000025132Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:RRINDEX00001Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:RRINDEX00002Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Memberck0000770161:RRINDEX00003Member 2012-11-01 2012-11-01 0000770161 ck0000770161:SummaryS000009235Memberck0000770161:S000009235Member 2012-11-01 2012-11-01 0000770161 2012-11-01 2012-11-01 pure iso4217:USD A contingent deferred sales charge of 1.00% applies on certain redemptions within one year following purchases of $1 million or more made without an initial sales charge.