X0306 4 2016-01-22 0 0000895574 Delaware Investments National Municipal Income Fund VFL 0000740906 WELLS FARGO BANK N A 101 NORTH PHILLIPS STREET SIOUX FALLS SD 57104 0 0 1 0 Variable Rate Muni Fund Term Preferred Shares Series 2017 2016-01-22 4 J 0 300 0.00 D 0 D Variable Rate Muni Fund Term Preferred Shares Series 2021 2016-01-22 4 J 0 300 0.00 A 300 D Reporting person refinanced its existing shares of Variable Rate Muni Fund Term Preferred Share Series 2017 (Existing Shares) of the issuer by redemption of the Existing Shares and the issuance of newly issued shares of Variable Rate Muni Fund Term Preferred Shares Series 2021 (New Shares) of the issuer pursuant to a Purchase Agreement dated January 22, 2016. The New Shares were issued on January 22, 2016. The Existing Shares will be redeemed on or about February 1, 2016. /s/ Adam Joseph, Managing Director 2016-01-26