-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DxiGNeM3mu1d85AdbvSKXXmgWjLC3POZJZ70Fz63iuCVCyCIGHt32ynTl+Va9MSJ
 VwK0ZzSA/qeZiB3vP6FKqg==

<SEC-DOCUMENT>0001179110-03-007968.txt : 20030926
<SEC-HEADER>0001179110-03-007968.hdr.sgml : 20030926
<ACCEPTANCE-DATETIME>20030926133525
ACCESSION NUMBER:		0001179110-03-007968
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030917
FILED AS OF DATE:		20030926

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN INCOME FUND INC
		CENTRAL INDEX KEY:			0000005216
		FISCAL YEAR END:			1231

	MAIL ADDRESS:	
		STREET 1:		60 EAST 42ND STREET
		STREET 2:		NEW YORK, NEW YORK 10017

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FORET MICKEY P
		CENTRAL INDEX KEY:			0001225114

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-00776
		FILM NUMBER:		03912004

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 1102
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55440-1101
		BUSINESS PHONE:		9529388080
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 3 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>
<periodOfReport>2003-09-17</periodOfReport>
    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000005216</issuerCik>
        <issuerName>AMERICAN INCOME FUND INC</issuerName>
        <issuerTradingSymbol>MRF</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001225114</rptOwnerCik>
            <rptOwnerName>FORET MICKEY P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>800 NICOLLET MALL</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55402</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeHolding><securityTitle><value>American Income Fund, Inc.</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeHolding>
</nonDerivativeTable>
<derivativeTable></derivativeTable>
<footnotes></footnotes>
<ownerSignature><signatureName>Mickey P. Foret, Director</signatureName>
<signatureDate>2003-09-26</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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