0000949820-12-000133.txt : 20121018 0000949820-12-000133.hdr.sgml : 20121018 20121018074046 ACCESSION NUMBER: 0000949820-12-000133 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121018 DATE AS OF CHANGE: 20121018 EFFECTIVENESS DATE: 20121018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price New Income Fund, Inc. CENTRAL INDEX KEY: 0000080249 IRS NUMBER: 520980581 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-48848 FILM NUMBER: 121149517 BUSINESS ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: PRICE T ROWE NEW INCOME FUND INC DATE OF NAME CHANGE: 19940727 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price New Income Fund, Inc. CENTRAL INDEX KEY: 0000080249 IRS NUMBER: 520980581 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-02396 FILM NUMBER: 121149518 BUSINESS ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: PRICE T ROWE NEW INCOME FUND INC DATE OF NAME CHANGE: 19940727 0000080249 S000002136 T. Rowe Price New Income Fund, Inc. C000005529 T. Rowe Price New Income Fund, Inc. PRCIX C000005530 T. Rowe Price New Income Fund-Advisor Class PANIX C000005531 T. Rowe Price New Income Fund-R Class RRNIX 485BPOS 1 nifxbrlptc.htm Untitled Document

Registration Nos. 002-48848/811-2396

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933   /X/

 

 Post-Effective Amendment No. 67     /X/

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 /X/

 Amendment No. 42      /X/

T. ROWE PRICE NEW INCOME FUND, INC.

Exact Name of Registrant as Specified in Charter

100 East Pratt Street, Baltimore, Maryland 21202
Address of Principal Executive Offices

410-345-2000
Registrant’s Telephone Number, Including Area Code

David Oestreicher

100 East Pratt Street, Baltimore, Maryland 21202
Name and Address of Agent for Service

 It is proposed that this filing will become effective (check appropriate box):

/X/ Immediately upon filing pursuant to paragraph (b)

// On (date) pursuant to paragraph (b)

// 60 days after filing pursuant to paragraph (a)(1)

// On (date) pursuant to paragraph (a)(1)

// 75 days after filing pursuant to paragraph (a)(2)

// On (date) pursuant to paragraph (a)(2) of Rule 485

 If appropriate, check the following box:

// This post-effective amendment designates a new effective date for a previously filed post-effective amendment.


Page 2

EXHIBITS

  

Exhibit

Exhibit No.

XBRL Instance Document

EX-101.INS

XBRL Taxonomy Extension Schema Document

EX-101.SCH

XBRL Taxonomy Extension Calculation Linkbase Document

EX-101.CAL

XBRL Taxonomy Extension Definition Linkbase Document

EX-101.DEF

XBRL Taxonomy Extension Labels Linkbase Document

EX-101.LAB

XBRL Taxonomy Extension Presentation Linkbase Document

EX-101.PRE


Page 3

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Baltimore, State of Maryland, this October 18, 2012.

 T. ROWE PRICE NEW INCOME FUND, INC.

 /s/Edward C. Bernard

By: Edward C. Bernard

 Chairman of the Board

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:

   

Signature

Title

Date

   
   

/s/Edward C. Bernard

Chairman of the Board

October 18, 2012

Edward C. Bernard

(Chief Executive Officer)

 
   
   

/s/Gregory K. Hinkle

Treasurer (Chief

October 18, 2012

Gregory K. Hinkle

Financial Officer)

 
   
   

*

Director

October 18, 2012

William R. Brody

  
   
   

*

Director

October 18, 2012

Jeremiah E. Casey

  
   
   

*

Director

October 18, 2012

Anthony W. Deering

  
   
   

*

Director

October 18, 2012

Donald W. Dick, Jr.

  
   
   
   

/s/Michael C. Gitlin

Director

October 18, 2012

Michael C. Gitlin

  
   
   

*

Director

October 18, 2012

Karen N. Horn

  
   
   

*

Director

October 18, 2012

Theo C. Rodgers

  
   
   

*

Director

October 18, 2012

John G. Schreiber

  


Page 4

   
   
   

*

Director

October 18, 2012

Mark. R. Tercek

  
   
   

*/s/David Oestreicher

Vice President and

October 18, 2012

David Oestreicher

Attorney-In-Fact

 


Page 5

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST

T. ROWE PRICE CAPITAL APPRECIATION FUND

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE CORPORATE INCOME FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVERSIFIED SMALL-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE EQUITY INCOME FUND

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE FIXED INCOME SERIES, INC.

T. ROWE PRICE FLOATING RATE FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GNMA FUND

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE HIGH YIELD FUND, INC.

T. ROWE PRICE INDEX TRUST, INC.

T. ROWE PRICE INFLATION FOCUSED BOND FUND, INC.

T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND
T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

T. ROWE PRICE NEW INCOME FUND, INC.

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE PRIME RESERVE FUND, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.

T. ROWE PRICE SHORT-TERM BOND FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE STATE TAX-FREE INCOME TRUST


Page 6

T. ROWE PRICE STRATEGIC INCOME FUND, INC.

T. ROWE PRICE SUMMIT FUNDS, INC.

T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.

T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE TAX-FREE INCOME FUND, INC.

T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.

T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

T. ROWE PRICE U.S. TREASURY FUNDS, INC.

T. ROWE PRICE VALUE FUND, INC.

POWER OF ATTORNEY

 RESOLVED, that the Corporation does hereby constitute and authorize Edward C. Bernard, Margery K. Neale and David Oestreicher, and each of them individually, their true and lawful attorneys and agents to take any and all action and execute any and all instruments which said attorneys and agents may deem necessary or advisable to enable the Corporation/Trust to comply with the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, and any rules, regulations, orders or other requirements of the United States Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of 1933, as amended, of shares of the Corporation/Trust, to be offered by the Corporation/Trust, and the registration of the Corporation/Trust under the Investment Company Act of 1940, as amended, including specifically, but without limitation of the foregoing, power and authority to sign the name of the Corporation/Trust on its behalf, and to sign the names of each of such directors/trustees and officers on his behalf as such director/trustee or officer to any (i) Registration Statement on Form N-1A or N-14 of the Corporation/Trust filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended; (ii) Registration Statement on Form N-1A or N-14 of the Corporation/Trust under the Investment Company Act of 1940, as amended; (iii) amendment or supplement (including, but not limited to, Post-Effective Amendments adding additional series or classes of the Corporation/ Trust) to said Registration Statement; and (iv) instruments or documents filed or to be filed as a part of or in connection with such Registration Statement, including Articles Supplementary, Articles of Amendment, and other instruments with respect to the Articles of Incorporation or Master Trust Agreement of the Corporation/Trust.

 IN WITNESS WHEREOF, the above named Corporations/Trusts have caused these presents to be signed and the same attested by its Secretary, each thereunto duly authorized by its Board of Directors/Trustees, and each of the undersigned has hereunto set his hand and seal as of the day set opposite his name.


Page 7

   

ALL CORPORATIONS/TRUSTS

  

/s/Edward C. Bernard

Edward C. Bernard

Chairman of the Board (Principal Executive Officer)

Director/Trustee

April 24, 2012

/s/Gregory K. Hinkle

Gregory K. Hinkle

Treasurer (Principal Financial Officer)

April 24, 2012

/s/William R. Brody

William R. Brody

Director/Trustee

April 24, 2012

/s/Jeremiah E. Casey

Jeremiah E. Casey

Director/Trustee

April 24, 2012

/s/Anthony W. Deering

Anthony W. Deering

Director/Trustee

April 24, 2012

/s/Donald W. Dick, Jr.

Donald W. Dick, Jr.

Director/Trustee

April 24, 2012

/s/Karen N. Horn

Karen N. Horn

Director/Trustee

April 24, 2012

/s/Theo C. Rodgers

Theo C. Rodgers

Director/Trustee

April 24, 2012

/s/John G. Schreiber

John G. Schreiber

Director/Trustee

April 24, 2012

/s/Mark R. Tercek

Mark R. Tercek

Director/Trustee

April 24, 2012

(Signatures Continued)


Page 8

MICHAEL C. GITLIN, Director/Trustee


T. ROWE PRICE CALIFORNIA TAX-FREE INCOME TRUST

T. ROWE PRICE CORPORATE INCOME FUND, INC.

T. ROWE PRICE FIXED INCOME SERIES, INC.

T. ROWE PRICE GNMA FUND

T. ROWE PRICE FLOATING RATE FUND, INC.

T. ROWE PRICE HIGH YIELD FUND, INC.

T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC.

T. ROWE PRICE INFLATION FOCUSED BOND FUND, INC.

T. ROWE PRICE INFLATION PROTECTED BOND FUND, INC.

T. ROWE PRICE NEW INCOME FUND, INC.

T. ROWE PRICE PRIME RESERVE FUND, INC.

T. ROWE PRICE RESERVE INVESTMENT FUNDS, INC.

T. ROWE PRICE SHORT-TERM BOND FUND, INC.

T. ROWE PRICE STATE TAX-FREE INCOME TRUST

T. ROWE PRICE STRATEGIC INCOME FUND, INC.

T. ROWE PRICE SUMMIT FUNDS, INC.

T. ROWE PRICE SUMMIT MUNICIPAL FUNDS, INC.

T. ROWE PRICE TAX-EXEMPT MONEY FUND, INC.

T. ROWE PRICE TAX-FREE HIGH YIELD FUND, INC.

T. ROWE PRICE TAX-FREE INCOME FUND, INC.

T. ROWE PRICE TAX-FREE SHORT-INTERMEDIATE FUND, INC.

T. ROWE PRICE U.S. BOND ENHANCED INDEX FUND, INC.

T. ROWE PRICE U.S. TREASURY FUNDS, INC.

MICHAEL C. GITLIN, Director and President

T. ROWE PRICE MULTI-SECTOR ACCOUNT PORTFOLIOS, INC.

  

/s/Michael C. Gitlin

Michael C. Gitlin

April 24, 2012

(Signatures Continued)


Page 9

JOHN H. LAPORTE, Director/Trustee

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

JOHN H. LAPORTE, Director and Vice President

T. ROWE PRICE DIVERSIFIED SMALL-CAP GROWTH FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

  

/s/John H. Laporte

John H. Laporte

April 24, 2012

(Signatures Continued)


Page 10

BRIAN C. ROGERS, Director/Trustee

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION FUND

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE INDEX TRUST, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

BRIAN C. ROGERS, Director/Trustee and President

T. ROWE PRICE EQUITY INCOME FUND

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

BRIAN C. ROGERS, Director/Trustee and Vice President

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE VALUE FUND, INC.

   

/s/Brian C. Rogers

Brian C. Rogers

 

April 24, 2012

(Signatures Continued)


Page 11

ATTEST:

/s/Patricia B. Lippert

Patricia B. Lippert, Secretary


Page 12

T. ROWE PRICE BALANCED FUND, INC.

T. ROWE PRICE BLUE CHIP GROWTH FUND, INC.

T. ROWE PRICE CAPITAL APPRECIATION FUND

T. ROWE PRICE CAPITAL OPPORTUNITY FUND, INC.

T. ROWE PRICE DIVERSIFIED MID-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVERSIFIED SMALL-CAP GROWTH FUND, INC.

T. ROWE PRICE DIVIDEND GROWTH FUND, INC.

T. ROWE PRICE EQUITY INCOME FUND

T. ROWE PRICE EQUITY SERIES, INC.

T. ROWE PRICE FINANCIAL SERVICES FUND, INC.

T. ROWE PRICE GLOBAL REAL ESTATE FUND, INC.

T. ROWE PRICE GLOBAL TECHNOLOGY FUND, INC.

T. ROWE PRICE GROWTH & INCOME FUND, INC.

T. ROWE PRICE GROWTH STOCK FUND, INC.

T. ROWE PRICE HEALTH SCIENCES FUND, INC.

T. ROWE PRICE INDEX TRUST, INC.

T. ROWE PRICE INSTITUTIONAL EQUITY FUNDS, INC.

T. ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL FUNDS, INC.

T. ROWE PRICE INTERNATIONAL INDEX FUND, INC.

T. ROWE PRICE INTERNATIONAL SERIES, INC.

T. ROWE PRICE MEDIA & TELECOMMUNICATIONS FUND, INC.

T. ROWE PRICE MID-CAP GROWTH FUND, INC.

T. ROWE PRICE MID-CAP VALUE FUND, INC.

T. ROWE PRICE NEW AMERICA GROWTH FUND
T. ROWE PRICE NEW ERA FUND, INC.

T. ROWE PRICE NEW HORIZONS FUND, INC.

T. ROWE PRICE PERSONAL STRATEGY FUNDS, INC.

T. ROWE PRICE REAL ASSETS FUND, INC.

T. ROWE PRICE REAL ESTATE FUND, INC.

T. ROWE PRICE RETIREMENT FUNDS, INC.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.

T. ROWE PRICE SMALL-CAP STOCK FUND, INC.

T. ROWE PRICE SMALL-CAP VALUE FUND, INC.

T. ROWE PRICE SPECTRUM FUND, INC.

T. ROWE PRICE TAX-EFFICIENT FUNDS, INC.

T. ROWE PRICE U.S. LARGE-CAP CORE FUND, INC.

T. ROWE PRICE VALUE FUND, INC.

POWER OF ATTORNEY

 RESOLVED, that the Corporation does hereby constitute and authorize Edward C. Bernard, Margery K. Neale and David Oestreicher, and each of them individually, their true and lawful attorneys and agents to take any and all action and execute any and all instruments which said attorneys and agents may deem necessary or advisable to enable the Corporation/Trust to comply with the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, and any rules, regulations, orders or other requirements of the United States Securities and Exchange Commission thereunder, in connection with the registration under the Securities Act of 1933, as amended, of shares of the Corporation/Trust, to be offered by the Corporation/Trust, and the registration of the Corporation/Trust under the Investment Company Act of 1940, as amended, including specifically, but without limitation of the foregoing, power and authority to sign the name of the Corporation/Trust on its behalf, and to sign


Page 13

the names of each of such directors/trustees and officers on his behalf as such director/trustee or officer to any (i) Registration Statement on Form N-1A or N-14 of the Corporation/Trust filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended; (ii) Registration Statement on Form N-1A or N-14 of the Corporation/Trust under the Investment Company Act of 1940, as amended; (iii) amendment or supplement (including, but not limited to, Post-Effective Amendments adding additional series or classes of the Corporation/ Trust) to said Registration Statement; and (iv) instruments or documents filed or to be filed as a part of or in connection with such Registration Statement, including Articles Supplementary, Articles of Amendment, and other instruments with respect to the Articles of Incorporation or Master Trust Agreement of the Corporation/Trust.

 IN WITNESS WHEREOF, the above named Corporations/Trusts have caused these presents to be signed and the same attested by its Secretary, each thereunto duly authorized by its Board of Directors/Trustees, and each of the undersigned has hereunto set his hand and seal as of the day set opposite his name.

   

/s/Robert J. Gerrard, Jr.

Robert J. Gerrard, Jr.

Director/Trustee

May 2, 2012

/s/Cecilia E. Rouse

Cecilia E. Rouse

Director/Trustee

May 2, 2012

ATTEST:

/s/Patricia B. Lippert

Patricia B. Lippert, Secretary


EX-101.INS 3 trpnifi-20120927.xml 0000080249 trpnifi:S000002136Member trpnifi:AdvisorClassMember trpnifi:C000005530Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:InvestorClassMember trpnifi:C000005529Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:AdvisorClassMember 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:InvestorClassMember 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:RclassMember trpnifi:C000005531Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:RclassMember 2011-10-02 2012-10-01 0000080249 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:AdvisorClassMember rr:AfterTaxesOnDistributionsAndSalesMember trpnifi:C000005530Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:AdvisorClassMember rr:AfterTaxesOnDistributionsMember trpnifi:C000005530Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:RclassMember rr:AfterTaxesOnDistributionsMember trpnifi:C000005531Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:RclassMember rr:AfterTaxesOnDistributionsAndSalesMember trpnifi:C000005531Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:InvestorClassMember rr:AfterTaxesOnDistributionsMember trpnifi:C000005529Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:InvestorClassMember rr:AfterTaxesOnDistributionsAndSalesMember trpnifi:C000005529Member 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:InvestorClassMember trpnifi:BarclaysUsAggregateBondIndexMember 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:InvestorClassMember trpnifi:LipperCorporateDebtFundsRatedAverageMember 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:AdvisorClassMember trpnifi:BarclaysUsAggregateBondIndexMember 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:AdvisorClassMember trpnifi:LipperCorporateDebtFundsRatedAverageMember 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:RclassMember trpnifi:BarclaysUsAggregateBondIndexMember 2011-10-02 2012-10-01 0000080249 trpnifi:S000002136Member trpnifi:RclassMember trpnifi:LipperCorporateDebtFundsRatedAverageMember 2011-10-02 2012-10-01 pure iso4217:USD 2012-06-30 2012-06-30 <font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Example </font> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Example</font> <div style="display:none">~ http://www.troweprice.com/role/ScheduleShareholderFeesTRowePriceNewIncomeFundInc column period compact * ~</div> 2012-06-30 <font style="font-family: serif; font-size: 10pt; ">troweprice.com</font> 450 0.0532 340 0.0562 663 0.0519 <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Example</font> <font style="font-size: 15pt; font-family: Arial;" class="_mt">T. Rowe Price</font><br/><br/><font style="font-size: 24pt; font-family: Arial;" color="#004f7c" class="_mt">New Income Fund&#8211;Advisor Class</font><br /><br /><font style="font-family: Times New Roman; color: rgb(0, 79, 124); margin-left; font-size: 18pt; "><b>SUMMARY</b></font> <font style="font-family: serif; font-size: 10pt; ">The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 157.1% of the average value of its portfolio.</font> <font style="font-size: 15pt; font-family: Arial;" class="_mt">T. Rowe Price</font><br/><br/><font style="font-size: 24pt; font-family: Arial;" color="#004f7c" class="_mt">New Income Fund</font><br /><br /><font style="font-family: Times New Roman; color: rgb(0, 79, 124); margin-left; font-size: 18pt; "><b>SUMMARY</b></font> <font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Fees and Expenses of the Fund</b></font><br/><br/><center><font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Shareholder fees (fees paid directly from your investment)</b</font></center> <font style="font-family: serif; font-size: 10pt; ">The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 157.1% of the average value of its portfolio.</font> 0 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpensesTRowePriceNewIncomeFundInc column period compact * ~</div> <font style="font-size: 15pt; font-family: Arial;" class="_mt">T. Rowe Price</font><br/><br/><font style="font-size: 24pt; font-family: Arial;" color="#004f7c" class="_mt">New Income Fund&#8211;R Class</font><br/><br/><font style="font-size: 24pt; font-family: Times new roman;" color="#004f7c" class="_mt"><b>SUMMARY</b></font> <font style="font-family: serif; font-size: 10pt; ">The fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund&#8217;s performance. During the most recent fiscal year, the fund&#8217;s portfolio turnover rate was 157.1% of the average value of its portfolio.</font> <font style="font-family: serif; font-size: 10pt; ">troweprice.com</font> <font style="font-family: serif; font-size: 10pt; ">troweprice.com</font> 0.0274 0.0286 0.0269 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpensesTRowePriceNewIncomeFundIncAdvisorClass column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualFundOperatingExpensesTRowePriceNewIncomeFundIncRClass column period compact * ~</div> T. Rowe Price New Income Fund, Inc. <font style="font-family: serif; font-size: 10pt; ">This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.</font> <font style="font-style: italic; font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8pt; font-weight: bold; ">Fees and Expenses of the Fund&#8217;s Advisor Class<br/><br/><center>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/> percentage of the value of your investment)</center></font> <div> <div class="MetaData"><b><i> </i></b> <div><font class="_mt" style="font-family: Calibri;"> </font>&nbsp;</div> <div> <div style="text-align: center; text-indent: -5.75pt; margin: 1pt 0in 1pt 5.75pt;" align="center"> <div align="left"> <center><table style="width: 195pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="260"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 48pt; height: 15pt;" height="20" width="64">&nbsp;</td> <td style="background-color: transparent; width: 48pt;" width="64">&nbsp;</td> <td style="background-color: transparent; width: 51pt;" class="xl65" width="68"><em><strong><font class="_mt" style="font-family: Calibri;">Quarter</font></strong></em></td> <td style="background-color: transparent; width: 48pt;" class="xl65" width="64"><em><strong><font class="_mt" style="font-family: Calibri;">&nbsp;Total</font></strong></em></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" height="20">&nbsp;</td> <td style="background-color: transparent;">&nbsp;</td> <td style="background-color: transparent;" class="xl65"><em><strong><font class="_mt" style="font-family: Calibri;">&nbsp;Ended</font></strong></em></td> <td style="background-color: transparent;" class="xl65"><em><strong><font class="_mt" style="font-family: Calibri;">Return</font></strong></em></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl66" height="20" colspan="2"><strong><font class="_mt" style="font-family: Calibri;">Best Quarter</font></strong></td> <td style="background-color: transparent;" class="xl67"><strong><font class="_mt" style="font-family: Calibri;">6/30/09</font></strong></td> <td style="background-color: transparent;" class="xl68"><strong><font class="_mt" style="font-family: Calibri;">5.02%</font></strong></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl66" height="20" colspan="2"><strong><font class="_mt" style="font-family: Calibri;">Worst Quarter</font></strong></td> <td style="background-color: transparent;" class="xl67"><strong><font class="_mt" style="font-family: Calibri;">6/30/04</font></strong></td> <td style="background-color: transparent;" class="xl68"><strong><font class="_mt" style="font-family: Calibri;">-2.41%</font></strong></td></tr></table></center></div></div></div><p style="margin-top: 0px; margin-bottom: 0px;" align="left"><font color="#008080" class="_mt" style="font-family: Times;"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font color="#008080" class="_mt" style="font-family: Times;">&nbsp;<font color="#000000" size="1" class="_mt" style="font-family: Times New Roman;">The fund's return for the six months ended 6/30/12 was 2.74%.</font><font color="#008080" class="_mt" style="font-family: Times;">&nbsp;&nbsp;&nbsp;</font></font></p></div> </div> <font style="font-family: serif; font-size: 10pt; ">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="font-family: serif; font-size: 10pt; ">This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.</font> <center><font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Annual fund operating expenses<br>(expenses that you pay each year as a<br>percentage of the value of your investment)</b</font></center> <center><table border="0" cellspacing="0" cellpadding="0" width="267" style="color: rgb(0, 0, 0); font-family: Helvetica, Arial, san-serif; font-size: 11px; text-align: left; border-collapse: collapse; "><tr style="height: 15pt; "><td class="xl65" height="20" width="64" style="background-color: transparent; width: 48pt; height: 15pt; ">&nbsp;</td><td class="xl65" width="64" style="background-color: transparent; width: 48pt; ">&nbsp;</td><td class="xl66" width="75" style="background-color: transparent; width: 56pt; "><strong><em>Quarter&nbsp;</em></strong></td><td class="xl66" width="64" style="background-color: transparent; width: 48pt; "><strong><em>Total</em></strong></td></tr><tr style="height: 15pt; "><td class="xl65" height="20" style="background-color: transparent; height: 15pt; ">&nbsp;</td><td class="xl65" style="background-color: transparent; ">&nbsp;</td><td class="xl66" style="background-color: transparent; "><em><strong>Ended&nbsp;</strong></em></td><td class="xl66" style="background-color: transparent; "><em><strong>&nbsp;Return</strong></em></td></tr><tr style="height: 15pt; "><td class="xl69" height="20" colspan="2" style="background-color: transparent; height: 15pt; "><strong>Best Quarter</strong></td><td class="xl67" style="background-color: transparent; "><strong>6/30/09</strong></td><td class="xl68" style="background-color: transparent; "><strong>5.07%</strong></td></tr><tr style="height: 15pt; "><td class="xl69" height="20" colspan="2" style="background-color: transparent; height: 15pt; "><strong>Worst&nbsp;Quarter&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</strong></td><td class="xl67" style="background-color: transparent; "><strong>6/30/04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</strong></td><td class="xl68" style="background-color: transparent; "><strong>-2.36%</strong></td></tr></table><p style="font-family: Helvetica, Arial, san-serif; font-size: 11px; text-align: justify; margin: 0in 0in 6pt; "></p><font lang="EN-US" class="_mt" style="background-color: line-height: 12pt; font-size: 10pt; font-family: 'ITC Berkeley Oldstyle Std Bk'; "><font lang="EN-US" class="_mt" style="font-size: 7pt; font-family: MetaNormalLF-Roman; ">The fund's return for the six months ended 6/30/12 was 2.86%.</font></font></center> <font style="font-family: serif; font-size: 8pt; ">The figure shown under &#8220;Total annual fund operating expenses after fee waiver/expense reimbursement&#8221; does not match the &#8220;Ratio of expenses to average net assets&#8221; shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses.</font> <font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index.</font> 1-800-225-5132 83 62 2002-09-30 2002-09-30 2002-09-30 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsT.RowePriceNewIncomeFund,Inc.BarChart column period compact * ~</div> <font style="font-family: serif; font-size: 10pt; ">This table describes the fees and expenses that you may pay if you buy and hold shares of the fund.</font> <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8pt; "><b><i>Fees and Expenses of the Fund&#8217;s R Class</i></b></font><br/><br/><center><font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Annual fund operating expenses<br/>(expenses that you pay each year as a<br/>percentage of the value of your investment)</b</font></center> <font style="font-family: serif; font-size: 8pt; ">The figure shown under &#8220;Total annual fund operating expenses after fee waiver/expense reimbursement&#8221; does not match the &#8220;Ratio of expenses to average net assets&#8221; shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses.</font> <font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index.</font> 1-800-638-8790 <div> <div class="MetaData"><b><i> </i></b> <div><font class="_mt" style="font-family: Calibri;"> </font>&nbsp;</div> <div> <div style="text-align: center; text-indent: -5.75pt; margin: 1pt 0in 1pt 5.75pt;" align="center"> <div align="left"> <center><table style="width: 195pt; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="260"><tr style="height: 15pt;"> <td style="background-color: transparent; width: 48pt; height: 15pt;" height="20" width="64">&nbsp;</td> <td style="background-color: transparent; width: 48pt;" width="64">&nbsp;</td> <td style="background-color: transparent; width: 51pt;" class="xl65" width="68"><em><strong><font class="_mt" style="font-family: Calibri;">Quarter</font></strong></em></td> <td style="background-color: transparent; width: 48pt;" class="xl65" width="64"><em><strong><font class="_mt" style="font-family: Calibri;">&nbsp;Total</font></strong></em></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" height="20">&nbsp;</td> <td style="background-color: transparent;">&nbsp;</td> <td style="background-color: transparent;" class="xl65"><em><strong><font class="_mt" style="font-family: Calibri;">&nbsp;Ended</font></strong></em></td> <td style="background-color: transparent;" class="xl65"><em><strong><font class="_mt" style="font-family: Calibri;">Return</font></strong></em></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl66" height="20" colspan="2"><strong><font class="_mt" style="font-family: Calibri;">Best Quarter</font></strong></td> <td style="background-color: transparent;" class="xl67"><strong><font class="_mt" style="font-family: Calibri;">6/30/09</font></strong></td> <td style="background-color: transparent;" class="xl68"><strong><font class="_mt" style="font-family: Calibri;">4.95%</font></strong></td></tr> <tr style="height: 15pt;"><td style="background-color: transparent; height: 15pt;" class="xl66" height="20" colspan="2"><strong><font class="_mt" style="font-family: Calibri;">Worst Quarter</font></strong></td> <td style="background-color: transparent;" class="xl67"><strong><font class="_mt" style="font-family: Calibri;">6/30/04</font></strong></td> <td style="background-color: transparent;" class="xl68"><strong><font class="_mt" style="font-family: Calibri;">-2.57%</font></strong></td></tr></table></center></div></div></div><p style="margin-top: 0px; margin-bottom: 0px;" align="left"><font color="#008080" class="_mt" style="font-family: Times;"> </font>&nbsp;</p> <p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font color="#008080" class="_mt" style="font-family: Times;">&nbsp;<font color="#000000" size="1" class="_mt" style="font-family: Times New Roman;">The fund's return for the six months ended 6/30/12 was 2.69%.</font><font color="#008080" class="_mt" style="font-family: Times;">&nbsp;&nbsp;&nbsp;</font></font></p></div> </div> 117 <font style="font-family: serif; font-size: 10pt; ">The figure shown under &#8220;Total annual fund operating expenses after fee waiver/expense reimbursement&#8221; does not match the &#8220;Ratio of expenses to average net assets&#8221; shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses.</font> <font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index.</font> 1-800-638-8790 2002-09-30 2002-09-30 2002-09-30 <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsT.RowePriceNewIncomeFund,Inc.RClassBarChart column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAnnualTotalReturnsTRowePriceNewIncomeFundIncAdvisorClassBarChart column period compact * ~</div> 485BPOS 0000080249 2012-05-31 2012-09-27 <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 11pt; font-weight: bold; ">Investment Objective</font> <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 11pt; font-weight: bold; ">Fees and Expenses </font> <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 11pt; font-weight: bold; ">Investments, Risks, and Performance </font><br/><br/><font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Principal Investment Strategies</font> <font style="font-style: italic; font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8pt; font-weight: bold; ">Average Annual Total Returns<center>Periods ended<br/> December 31, 2011</center></font> <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Investment Objective</b></font> <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Fees and Expenses</b></font> <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Investments, Risks, and Performance</b></font><br/><br/><font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Principal Investment Strategies</font> <font style="font-family: serif; font-size: 10pt; ">As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows: </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Active management risk</font> <font style="font-family: serif; font-size: 10pt; ">The fund is subject to the risk that the investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Interest rate risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that a rise in interest rates will cause the price of a fixed rate debt security to fall. Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Credit risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that an issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, security downgrade, or inability to meet a financial obligation. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Liquidity risk </font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Foreign investing risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund&#8217;s investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Prepayment risk and extension risk</font> <font style="font-family: serif; font-size: 10pt; ">Prepayment risk is the risk that the principal on mortgage-backed securities, other asset-backed securities or any debt security with an embedded call option may be prepaid at any time, which could reduce yield and market value. The rate of prepayments tends to increase as interest rates fall, which could cause the average maturity of the portfolio to shorten. Extension risk may result from a rise in interest rates, which tends to make mortgage-backed securities, asset-backed securities, and other callable debt securities more volatile. </font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Derivatives risk</font> <font style="font-family: serif; font-size: 10pt; ">To the extent the fund uses interest rate futures and forward currency exchange contracts, it is exposed to additional volatility in comparison to investing directly in bonds and other debt securities. These instruments can be illiquid and difficult to value, may involve leverage so that small changes produce disproportionate losses for the fund, and instruments not traded on an exchange are subject to the risk that a counterparty to the transaction will fail to meet its obligations under the derivatives contract. The fund&#8217;s principal use of derivatives involves the risk that anticipated interest rate movements and changes in currency values and currency exchange rates will not be accurately predicted, which could significantly harm the fund&#8217;s performance.</font> <font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Average Annual Total Returns</b></font><center><font style=" FONT-STYLE: italic; FONT-FAMILY: Sans-Serif; COLOR: #004f7c; FONT-SIZE: 8pt;"><b>Periods ended<br/>December 31, 2011</b</font></center> <font style="font-family: serif; font-size: 10pt; ">In addition, the average annual total returns table shows hypothetical after-tax returns to suggest how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font> <font style="font-family: serif; font-size: 10pt; ">The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund.</font> <font style="font-family: serif; font-size: 10pt; ">As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows: </font><br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Active management risk</font> <font style="font-family: serif; font-size: 10pt; ">The fund is subject to the risk that the investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies.</font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Interest rate risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that a rise in interest rates will cause the price of a fixed rate debt security to fall. Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Credit risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that an issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, security downgrade, or inability to meet a financial obligation. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Liquidity risk </font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. </font><br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Foreign investing risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund&#8217;s investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.</font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Prepayment risk and extension risk</font> <font style="font-family: serif; font-size: 10pt; ">Prepayment risk is the risk that the principal on mortgage-backed securities, other asset-backed securities or any debt security with an embedded call option may be prepaid at any time, which could reduce yield and market value. The rate of prepayments tends to increase as interest rates fall, which could cause the average maturity of the portfolio to shorten. Extension risk may result from a rise in interest rates, which tends to make mortgage-backed securities, asset-backed securities, and other callable debt securities more volatile.</font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Derivatives risk</font> <font style="font-family: serif; font-size: 10pt; ">To the extent the fund uses interest rate futures and forward currency exchange contracts, it is exposed to additional volatility in comparison to investing directly in bonds and other debt securities. These instruments can be illiquid and difficult to value, may involve leverage so that small changes produce disproportionate losses for the fund, and instruments not traded on an exchange are subject to the risk that a counterparty to the transaction will fail to meet its obligations under the derivatives contract. The fund&#8217;s principal use of derivatives involves the risk that anticipated interest rate movements and changes in currency values and currency exchange rates will not be accurately predicted, which could significantly harm the fund&#8217;s performance.</font> <font style="font-family: serif; font-size: 10pt; ">After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font> <font style="font-family: serif; font-size: 10pt; ">In addition, the average annual total returns table shows hypothetical after-tax returns to suggest how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font> 0.0083 -0.0002 0 20 259 0.0063 -0.0002 0.0116 0.0585 195 0.0748 0.0625 <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Investment Objective</b></font> <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 9.5pt; "><b>Fees and Expenses</b></font> <font style="font-family: serif; font-size: 10pt; ">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, the fund&#8217;s operating expenses remain the same, and the expense limitation currently in place is not renewed. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font> <font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 11pt; font-weight: bold; ">Investments, Risks, and Performance </font><br/><br/><font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Principal Investment Strategies</font> <font style="font-family: serif; font-size: 10pt; ">As with any mutual fund, there is no guarantee that the fund will achieve its objective. The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund. The principal risks of investing in this fund are summarized as follows:</font><br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Active management risk</font> <font style="font-family: serif; font-size: 10pt; ">The fund is subject to the risk that the investment adviser&#8217;s judgments about the attractiveness, value, or potential appreciation of the fund&#8217;s investments may prove to be incorrect. If the securities selected and strategies employed by the fund fail to produce the intended results, the fund could underperform other funds with similar objectives and investment strategies. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Interest rate risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that a rise in interest rates will cause the price of a fixed rate debt security to fall. Generally, securities with longer maturities and funds with longer weighted average maturities carry greater interest rate risk. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Credit risk</font> <font style="font-family: serif; font-size: 10pt; "> This is the risk that an issuer of a debt security could suffer an adverse change in financial condition that results in a payment default, security downgrade, or inability to meet a financial obligation. </font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Liquidity risk </font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund may not be able to sell a holding in a timely manner at a desired price. </font><br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Foreign investing risk</font> <font style="font-family: serif; font-size: 10pt; ">This is the risk that the fund&#8217;s investments in foreign securities may be adversely affected by political and economic conditions overseas, reduced liquidity, or decreases in foreign currency values relative to the U.S. dollar.</font> <br /><br /> <font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Prepayment risk and extension risk</font> <font style="font-family: serif; font-size: 10pt; ">Prepayment risk is the risk that the principal on mortgage-backed securities, other asset-backed securities or any debt security with an embedded call option may be prepaid at any time, which could reduce yield and market value. The rate of prepayments tends to increase as interest rates fall, which could cause the average maturity of the portfolio to shorten. Extension risk may result from a rise in interest rates, which tends to make mortgage-backed securities, asset-backed securities, and other callable debt securities more volatile.</font> <br /><br /><font style="FONT-STYLE: italic; FONT-FAMILY: Serif; FONT-WEIGHT: bold; FONT-SIZE: 10pt ">Derivatives risk</font> <font style="font-family: serif; font-size: 10pt; ">To the extent the fund uses interest rate futures and forward currency exchange contracts, it is exposed to additional volatility in comparison to investing directly in bonds and other debt securities. These instruments can be illiquid and difficult to value, may involve leverage so that small changes produce disproportionate losses for the fund, and instruments not traded on an exchange are subject to the risk that a counterparty to the transaction will fail to meet its obligations under the derivatives contract. The fund&#8217;s principal use of derivatives involves the risk that anticipated interest rate movements and changes in currency values and currency exchange rates will not be accurately predicted, which could significantly harm the fund&#8217;s performance.</font> <font style="font-style: italic; font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8pt; font-weight: bold; ">Average Annual Total Returns<center>Periods ended<br/> December 31, 2011</center></font> <font style="font-family: serif; font-size: 10pt; ">In addition, the average annual total returns table shows hypothetical after-tax returns to suggest how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor&#8217;s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font> September 30, 2014 <font style="font-family: serif; font-size: 10pt; ">The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund.</font> 375 0.0124 -0.0009 <font style="font-family: serif; font-size: 10pt; "> After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font> 0.0557 0.0578 0.0429 0.0414 0.0578 0.054 <font style="font-family: serif; font-size: 10pt; ">The fund&#8217;s share price fluctuates, which means you could lose money by investing in the fund.</font> 2009-06-30 0.0502 <font style="font-family: serif; font-size: 10pt; "><b>Worst Quarter</b></font> 2004-06-30 <font style="font-family: serif; font-size: 10pt; ">After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or individual retirement account.</font> 2009-06-30 0.0507 <font style="font-family: serif; font-size: 10pt; "><b>Worst Quarter</b></font> 2004-06-30 2009-06-30 0.0495 <font style="font-family: serif; font-size: 10pt; "><b>Worst Quarter</b></font> 2004-06-30 <font style="font-family: serif; font-size: 10pt; ">This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: </font> false 2012-10-01 2012-10-01 <font style="font-family: serif; font-size: 10pt; ">The fund seeks the highest level of income consistent with the preservation of capital over time by investing primarily in marketable debt securities. </font> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Portfolio Turnover</font> <font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Principal Risks</font> <font style="font-family: sans-serif; font-size: 9.5pt; font-weight: bold; ">Performance</font> <font style="font-family: sans-serif; color: #004f7c; font-size: 8pt; font-weight: bold; "><center> New Income Fund - Advisor Class</font><br/><font style="font-family: sans-serif; font-size: 8.5pt; font-weight: bold; "><i>Calendar Year Returns</i></center></font> <font style="font-family: serif; font-size: 10pt; ">The fund seeks the highest level of income consistent with the preservation of capital over time by investing primarily in marketable debt securities. </font> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Portfolio Turnover</font> <font style="font-family: serif; font-size: 10pt; ">In seeking income and capital preservation, the fund pursues a total return strategy. Active management of the portfolio can result in bonds being sold at gains or losses. However, over the long term, the fund seeks to achieve its objective by investing primarily in income-producing securities that possess what the fund believes are favorable total return (income plus increases in principal value) characteristics. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">The fund will invest at least 80% of its total assets in income-producing securities, which may include, but are not limited to, U.S. government and agency obligations, mortgage- and asset-backed securities, corporate bonds, foreign securities, collateralized mortgage obligations, Treasury inflation protected securities, and others, including, on occasion, equities. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">Eighty percent (80%) of the debt securities purchased by the fund will be rated investment grade (AAA, AA, A, BBB, or an equivalent rating) by each of the major credit rating agencies (Standard &amp; Poor&#8217;s, Moody&#8217;s, and Fitch) that have assigned a rating to the security or, if unrated, deemed to be of investment-grade quality by T. Rowe Price. Up to 15% of the fund&#8217;s total assets may be invested in &#8220;split-rated securities,&#8221; which are securities that have been rated investment-grade by at least one rating agency but below investment-grade by another rating agency. In addition, the fund may invest up to 5% of its total assets in securities that have received below investment-grade ratings from each of the rating agencies that have assigned ratings to the securities or, if unrated, deemed to be below investment-grade quality by T. Rowe Price. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">The fund has considerable flexibility in seeking high yields. There are no maturity restrictions, so the fund can purchase longer-term bonds, which tend to have higher yields than shorter-term bonds. However, the portfolio&#8217;s weighted average maturity is expected to be between four and 15 years. In addition, when there is a large yield difference between the various quality levels, the fund may move down the credit scale and purchase lower-rated bonds with higher yields. When the difference is small or the outlook warrants, the fund may concentrate investments in higher-rated issues. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">While most assets will typically be invested in bonds, the fund also uses interest rate futures and forward currency exchange contracts in keeping with the fund&#8217;s objectives. Interest rate futures would typically be used to manage the fund&#8217;s exposure to interest rate changes or to adjust portfolio duration. Forward currency exchange contracts would be used to gain exposure to certain currencies expected to increase or decrease in value relative to other currencies or to protect the fund&#8217;s foreign bond holdings from adverse currency movements relative to the U.S. dollar. </font><br /><br /><font style="font-family: serif; font-size: 10pt; ">The fund may sell holdings for a variety of reasons, such as to adjust the portfolio&#8217;s average maturity, duration, or credit quality or to shift assets into and out of higher-yielding or lower-yielding securities or different sectors.</font> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Principal Risks</font> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Performance</font> <font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index. The fund&#8217;s past performance (before and after taxes) is not necessarily an indication of future performance. <br/><br/>The fund can also experience short-term performance swings, as shown by the best and worst calendar quarter returns during the years depicted.</font> <b><center><font style="font-family: sans-serif; color: rgb(0, 79, 124); font-size: 8.5pt; ">New Income Fund</font><br/><font style="font-family: sans-serif; font-size: 6.5pt; font-weight: bold; "><i>Calendar Year Returns</i></font></center></b> 1.571 <font style="font-family: serif; font-size: 10pt; ">The fund&#8217;s past performance (before and after taxes) is not necessarily an indication of future performance.</font> <font style="font-family: serif; font-size: 10pt; ">In seeking income and capital preservation, the fund pursues a total return strategy. Active management of the portfolio can result in bonds being sold at gains or losses. However, over the long term, the fund seeks to achieve its objective by investing primarily in income-producing securities that possess what the fund believes are favorable total return (income plus increases in principal value) characteristics.</font><br/><br/><font style="font-family: serif; font-size: 10pt; ">The fund will invest at least 80% of its total assets in income-producing securities, which may include, but are not limited to, U.S. government and agency obligations, mortgage- and asset-backed securities, corporate bonds, foreign securities, collateralized mortgage obligations, Treasury inflation protected securities, and others, including, on occasion, equities. </font> <br/><br/><font style="font-family: serif; font-size: 10pt; ">Eighty percent (80%) of the debt securities purchased by the fund will be rated investment grade (AAA, AA, A, BBB, or an equivalent rating) by each of the major credit rating agencies (Standard &amp; Poor&#8217;s, Moody&#8217;s, and Fitch) that have assigned a rating to the security or, if unrated, deemed to be of investment-grade quality by T. Rowe Price. Up to 15% of the fund&#8217;s total assets may be invested in &#8220;split-rated securities,&#8221; which are securities that have been rated investment-grade by at least one rating agency but below investment-grade by another rating agency. In addition, the fund may invest up to 5% of its total assets in securities that have received below investment-grade ratings from each of the rating agencies that have assigned ratings to the securities or, if unrated, deemed to be below investment-grade quality by T. Rowe Price. </font> <br/><br/><font style="font-family: serif; font-size: 10pt; ">The fund has considerable flexibility in seeking high yields. There are no maturity restrictions, so the fund can purchase longer-term bonds, which tend to have higher yields than shorter-term bonds. However, the portfolio&#8217;s weighted average maturity is expected to be between four and 15 years. In addition, when there is a large yield difference between the various quality levels, the fund may move down the credit scale and purchase lower-rated bonds with higher yields. When the difference is small or the outlook warrants, the fund may concentrate investments in higher-rated issues. </font><br/><br/><font style="font-family: serif; font-size: 10pt; ">While most assets will typically be invested in bonds, the fund also uses interest rate futures and forward currency exchange contracts in keeping with the fund&#8217;s objectives. Interest rate futures would typically be used to manage the fund&#8217;s exposure to interest rate changes or to adjust portfolio duration. Forward currency exchange contracts would be used to gain exposure to certain currencies expected to increase or decrease in value relative to other currencies or to protect the fund&#8217;s foreign bond holdings from adverse currency movements relative to the U.S. dollar. </font> <br/><br/><font style="font-family: serif; font-size: 10pt; ">The fund may sell holdings for a variety of reasons, such as to adjust the portfolio&#8217;s average maturity, duration, or credit quality or to shift assets into and out of higher-yielding or lower-yielding securities or different sectors.</font> <font style="font-family: serif; font-size: 10pt; ">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> <font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index. The fund&#8217;s past performance (before and after taxes) is not necessarily an indication of future performance.</font><br/><br/><font style="font-family: serif; font-size: 10pt; ">The fund can also experience short-term performance swings, as shown by the best and worst calendar quarter returns during the years depicted. </font> <font style="font-family: serif; font-size: 10pt; ">Updated performance information is available through troweprice.com or may be obtained by calling 1-800-638-8790.</font> 0.0045 0.0025 0.0011 0.0002 0.0081 1002 0.0045 0 0.0016 0.0002 0.0061 0.0448 0.026 0.0377 0.0618 0.1213 0.0684 762 0.046 0.0285 0.0413 0.0633 0.0141 0.0585 0.0454 0.1233 0.0387 0.0784 0.0687 0.0716 0.0637 0.0473 0.0449 0.065 0.0588 0.0537 0.04 0.0386 0.0532 0.0507 <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposedTRowePriceNewIncomeFundInc column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposedTRowePriceNewIncomeFundInc column period compact * ~</div> <font style="font-family: serif; font-size: 10pt; ">The fund seeks the highest level of income consistent with the preservation of capital over time by investing primarily in marketable debt securities.</font> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Portfolio Turnover</font> <font style="font-family: serif; font-size: 10pt; ">In seeking income and capital preservation, the fund pursues a total return strategy. Active management of the portfolio can result in bonds being sold at gains or losses. However, over the long term, the fund seeks to achieve its objective by investing primarily in income-producing securities that possess what the fund believes are favorable total return (income plus increases in principal value) characteristics. <br /><br />The fund will invest at least 80% of its total assets in income-producing securities, which may include, but are not limited to, U.S. government and agency obligations, mortgage- and asset-backed securities, corporate bonds, foreign securities, collateralized mortgage obligations, Treasury inflation protected securities, and others, including, on occasion, equities. <br /><br />Eighty percent (80%) of the debt securities purchased by the fund will be rated investment grade (AAA, AA, A, BBB, or an equivalent rating) by each of the major credit rating agencies (Standard &amp; Poor&#8217;s, Moody&#8217;s, and Fitch) that have assigned a rating to the security or, if unrated, deemed to be of investment-grade quality by T. Rowe Price. Up to 15% of the fund&#8217;s total assets may be invested in &#8220;split-rated securities,&#8221; which are securities that have been rated investment-grade by at least one rating agency but below investment-grade by another rating agency. In addition, the fund may invest up to 5% of its total assets in securities that have received below investment-grade ratings from each of the rating agencies that have assigned ratings to the securities or, if unrated, deemed to be below investment-grade quality by T. Rowe Price. <br /><br />The fund has considerable flexibility in seeking high yields. There are no maturity restrictions, so the fund can purchase longer-term bonds, which tend to have higher yields than shorter-term bonds. However, the portfolio&#8217;s weighted average maturity is expected to be between four and 15 years. In addition, when there is a large yield difference between the various quality levels, the fund may move down the credit scale and purchase lower-rated bonds with higher yields. When the difference is small or the outlook warrants, the fund may concentrate investments in higher-rated issues. <br /><br />While most assets will typically be invested in bonds, the fund also uses interest rate futures and forward currency exchange contracts in keeping with the fund&#8217;s objectives. Interest rate futures would typically be used to manage the fund&#8217;s exposure to interest rate changes or to adjust portfolio duration. Forward currency exchange contracts would be used to gain exposure to certain currencies expected to increase or decrease in value relative to other currencies or to protect the fund&#8217;s foreign bond holdings from adverse currency movements relative to the U.S. dollar.<br /><br />The fund may sell holdings for a variety of reasons, such as to adjust the portfolio&#8217;s average maturity, duration, or credit quality or to shift assets into and out of higher-yielding or lower-yielding securities or different sectors.</font> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Principal Risks</font> <font style="FONT-FAMILY: Sans-Serif; FONT-SIZE: 9.5pt; FONT-WEIGHT: bold">Performance</font> <font style="font-family: serif; font-size: 10pt; ">The bar chart showing calendar year returns and the average annual total returns table indicate risk by illustrating how much returns can differ from one year to the next and how fund performance compares with that of a comparable market index. The fund&#8217;s past performance (before and after taxes) is not necessarily an indication of future performance.<br/><br/>The fund can also experience short-term performance swings, as shown by the best and worst calendar quarter returns during the years depicted.</font> <center><font style="font-family: sans-serif; color: #006B6B; font-size: 8pt; font-weight: bold; ">New Income Fund&#8211;R Class</font><br/><font style="font-family: sans-serif; font-size: 8.5pt; font-weight: bold; "><i>Calendar Year Returns</i></font></center> <font style="font-family: serif; font-size: 10pt; ">Updated performance information is available through troweprice.com or may be obtained by calling 1-800-638-8790.</font> <font style="font-family: serif; font-size: 10pt; ">The fund&#8217;s past performance (before and after taxes) is not necessarily an indication of future performance.</font> 1484 0.0045 0.005 0.0027 0.0002 0.0115 <font style="font-family: serif; font-size: 10pt; ">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> 0.0412 0.0236 0.0363 0.0579 0.0091 0.118 0.0625 0.0483 0.0412 0.0784 0.0687 0.066 0.0664 0.0467 0.0491 0.065 0.0588 <font style="font-family: serif; font-size: 10pt; ">The fund's past performance (before and after taxes) is not necessarily an indication of future performance.</font> <font style="font-family: serif; font-size: 10pt; ">The fund's return for the six months ended</font> <font style="font-family: serif; font-size: 10pt; "><b>Best Quarter</b></font> -0.0241 <font style="font-family: serif; font-size: 10pt; ">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</font> 0.0557 0.0436 0.0369 0.0784 0.0687 0.0608 0.0454 0.043 0.065 0.0588 0.0511 0.0382 0.0369 0.0532 0.0507 <font style="font-family: serif; font-size: 10pt; ">The fund's return for the six months ended</font> <font style="font-family: serif; font-size: 10pt; "><b>Best Quarter</b></font> -0.0236 <font style="font-family: serif; font-size: 10pt; ">The fund's return for the six months ended</font> <font style="font-family: serif; font-size: 10pt; "><b>Best Quarter</b></font> -0.0257 <font style="font-family: serif; font-size: 10pt; ">Updated performance information is available through troweprice.com or may be obtained by calling 1-800-225-5132.</font> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposedTRowePriceNewIncomeFundIncAdvisorClass column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposedTRowePriceNewIncomeFundIncAdvisorClass column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleExpenseExampleTransposedTRowePriceNewIncomeFundIncRClass column period compact * ~</div> <div style="display:none">~ http://www.troweprice.com/role/ScheduleAverageAnnualTotalReturnsTransposedTRowePriceNewIncomeFundIncRClass column period compact * ~</div> 0 1.571 1.571 Subject to certain exceptions, accounts with a balance of less than $10,000 are charged an annual $20 fee. T. Rowe Price Associates, Inc. is required to permanently waive a portion of its management fee charged to the fund in an amount sufficient to fully offset any acquired fund fees and expenses related to investments in other T. Rowe Price mutual funds. The amount of the waiver will vary each fiscal year in proportion to the amount invested in other T. Rowe Price mutual funds. The T. Rowe Price funds would be required to seek regulatory approval in order to terminate this arrangement. The figure shown under "Total annual fund operating expenses after fee waiver/expense reimbursement" does not match the "Ratio of expenses to average net assets" shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses. T. Rowe Price Associates, Inc. is required to permanently waive a portion of its management fee charged to the fund in an amount sufficient to fully offset any acquired fund fees and expenses related to investments in other T. Rowe Price mutual funds. The amount of the waiver will vary each fiscal year in proportion to the amount invested in other T. Rowe Price mutual funds. The T. Rowe Price funds would be required to seek regulatory approval in order to terminate this arrangement. The figure shown under "Total annual fund operating expenses after fee waiver/expense reimbursement" does not match the "Ratio of expenses to average net assets" shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses. T. Rowe Price Associates, Inc. is required to permanently waive a portion of its management fee charged to the fund in an amount sufficient to fully offset any acquired fund fees and expenses related to investments in other T. Rowe Price mutual funds. The amount of the waiver will vary each fiscal year in proportion to the amount invested in other T. Rowe Price mutual funds. The T. Rowe Price funds would be required to seek regulatory approval in order to terminate this arrangement. T. Rowe Price Associates, Inc. has agreed (through September 30, 2014) to waive its fees and/or bear any expenses (excluding interest, taxes, brokerage, extraordinary expenses, and acquired fund fees) that would cause the class's ratio of expenses to average net assets to exceed 1.15%. Termination of the agreement would require approval by the fund's Board of Directors. Fees waived and expenses paid under this agreement (and a previous limitation of 1.15%) are subject to reimbursement to T. Rowe Price Associates, Inc. by the fund whenever the class's expense ratio is below 1.15%. However, no reimbursement will be mademore than three years after the waiver or if it would result in the expense ratio exceeding 1.15% (excluding interest, taxes, brokerage, extraordinary expenses, and acquired fund fees). The figure shown under "Total annual fund operating expenses after fee waiver/expense reimbursement" does not match the "Ratio of expenses to average net assets" shown in the Financial Highlights table, as that figure does not include acquired fund fees and expenses. EX-101.SCH 4 trpnifi-20120927.xsd 000000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 000011 - Document - Risk/Return Summary {Unlabeled} - T. Rowe Price New Income Fund, Inc. link:presentationLink link:calculationLink link:definitionLink 000012 - Schedule - Shareholder Fees - {T. Rowe Price New Income Fund, Inc.} link:presentationLink link:calculationLink link:definitionLink 000013 - Schedule - Annual Fund Operating Expenses - {T. Rowe Price New Income Fund, Inc.} link:presentationLink link:calculationLink link:definitionLink 000014 - Schedule - Expense Example {Transposed} - {T. Rowe Price New Income Fund, Inc.} link:presentationLink link:calculationLink link:definitionLink 000015 - Schedule - Expense Example, No Redemption {Transposed} - T. Rowe Price New Income Fund, Inc. link:presentationLink link:calculationLink link:definitionLink 000016 - Schedule - Annual Total Returns - T. Rowe Price New Income Fund, Inc. [BarChart] link:presentationLink link:calculationLink link:definitionLink 000017 - Schedule - Average Annual Total Returns {Transposed} - {T. Rowe Price New Income Fund, Inc.} link:presentationLink link:calculationLink link:definitionLink 000018 - Document - Risk/Return Detail {Unlabeled} - T. Rowe Price New Income Fund, Inc. link:presentationLink link:calculationLink link:definitionLink 000019 - Disclosure - Risk/Return Detail Data {Elements} - T. Rowe Price New Income Fund, Inc. link:presentationLink link:calculationLink link:definitionLink 000021 - Document - Risk/Return Summary {Unlabeled} - T. Rowe Price New Income Fund, Inc. Advisor Class link:presentationLink link:calculationLink link:definitionLink 000022 - Schedule - Shareholder Fees -{ T. Rowe Price New Income Fund, Inc. Advisor Class} link:presentationLink link:calculationLink link:definitionLink 000023 - Schedule - Annual Fund Operating Expenses - {T. Rowe Price New Income Fund, Inc. Advisor Class} link:presentationLink link:calculationLink link:definitionLink 000024 - Schedule - Expense Example {Transposed} - {T. Rowe Price New Income Fund, Inc. Advisor Class} link:presentationLink link:calculationLink link:definitionLink 000025 - Schedule - Expense Example, No Redemption {Transposed} - T. Rowe Price New Income Fund, Inc. Advisor Class link:presentationLink link:calculationLink link:definitionLink 000026 - Schedule - Annual Total Returns - T. Rowe Price New Income Fund, Inc. Advisor Class [BarChart] link:presentationLink link:calculationLink link:definitionLink 000027 - Schedule - Average Annual Total Returns {Transposed} - {T. Rowe Price New Income Fund, Inc. Advisor Class} link:presentationLink link:calculationLink link:definitionLink 000028 - Document - Risk/Return Detail {Unlabeled} - T. Rowe Price New Income Fund, Inc. Advisor Class link:presentationLink link:calculationLink link:definitionLink 000029 - Disclosure - Risk/Return Detail Data {Elements} - T. Rowe Price New Income Fund, Inc. Advisor Class link:presentationLink link:calculationLink link:definitionLink 000031 - Document - Risk/Return Summary {Unlabeled} - T. Rowe Price New Income Fund, Inc. R Class link:presentationLink link:calculationLink link:definitionLink 000032 - Schedule - Shareholder Fees - {T. Rowe Price New Income Fund, Inc. R Class} link:presentationLink link:calculationLink link:definitionLink 000033 - Schedule - Annual Fund Operating Expenses - {T. Rowe Price New Income Fund, Inc. R Class} link:presentationLink link:calculationLink link:definitionLink 000034 - Schedule - Expense Example {Transposed} - {T. Rowe Price New Income Fund, Inc. R Class} link:presentationLink link:calculationLink link:definitionLink 000035 - Schedule - Expense Example, No Redemption {Transposed} - T. Rowe Price New Income Fund, Inc. R Class link:presentationLink link:calculationLink link:definitionLink 000036 - Schedule - Annual Total Returns - T. Rowe Price New Income Fund, Inc. R Class [BarChart] link:presentationLink link:calculationLink link:definitionLink 000037 - Schedule - Average Annual Total Returns {Transposed} - {T. Rowe Price New Income Fund, Inc. R Class} link:presentationLink link:calculationLink link:definitionLink 000038 - Document - Risk/Return Detail {Unlabeled} - T. Rowe Price New Income Fund, Inc. R Class link:presentationLink link:calculationLink link:definitionLink 000039 - Disclosure - Risk/Return Detail Data {Elements} - T. Rowe Price New Income Fund, Inc. R Class link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 5 trpnifi-20120927_cal.xml EX-101.DEF 6 trpnifi-20120927_def.xml EX-101.LAB 7 trpnifi-20120927_lab.xml