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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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MIC-Info: RSA-MD5,RSA,
 MMooWWsGJg8Uj6u7xpJTQkIcJZUD6Lmb1yoMeiylkW2Y5wW9L39F4Hjg99MqZ4zJ
 6SKCDVLshe/meJgRtrHVuA==

<SEC-DOCUMENT>0001179110-04-019895.txt : 20041020
<SEC-HEADER>0001179110-04-019895.hdr.sgml : 20041020
<ACCEPTANCE-DATETIME>20041020122412
ACCESSION NUMBER:		0001179110-04-019895
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041020
FILED AS OF DATE:		20041020
DATE AS OF CHANGE:		20041020

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:			ERTEL RICHARD J
		CENTRAL INDEX KEY:			0001246962

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-00776
		FILM NUMBER:		041086893

	MAIL ADDRESS:	
		STREET 1:		800 NICOLLET MALL
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 5 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2004-10-20</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000005216</issuerCik>
        <issuerName>AMERICAN INCOME FUND INC</issuerName>
        <issuerTradingSymbol>MRF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001246962</rptOwnerCik>
            <rptOwnerName>ERTEL RICHARD J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>800 NICOLLET MALL</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55402</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>FUND OFFICER</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>RICHARD ERTEL, COUNSEL</signatureName>
        <signatureDate>2004-10-20</signatureDate>
    </ownerSignature>
</ownershipDocument>

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