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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  FORM N-17F-2

               Certificate of Accounting of Securities and Similar
                          Investments in the Custody of
                         Management Investment Companies

                    Pursuant to Rule 17f-2[17 CFR 270.17f-2]

- --------------------------------------------------------------------------------
1. Investment Company Act File Number:        Date examination completed:

   811-3218                                   November 26, 2007
- --------------------------------------------------------------------------------
2. State identification Number:

   AL                 AK   AZ   AR            CA   CO
   CT                 DE   DC   FL            GA   HI
   ID                 IL   IN   IA            KS   KY
   LA                 ME   MD   MA            MI   MN
   MS                 MO   MT   NE            NV   NH
   NJ                 NM   NY   NC            ND   OH
   OK                 OR   PA   RI            SC   SD
   TN                 TX   UT   VT            VA   WA
   WV                 WI   WY   PUERTO RICO
   Other (specify):
- --------------------------------------------------------------------------------
3. Exact name of investment company as specified in registration statement:

   RiverSource Variable Portfolio Investment Series, Inc.
- --------------------------------------------------------------------------------
4. Address of principal executive office (number, street, city, state, zip
   code):

   50606 Ameriprise Financial Center, Minneapolis, MN 55474
- --------------------------------------------------------------------------------

INSTRUCTIONS

This Form must be completed by investment companies that have custody of
securities or similar investments.

INVESTMENT COMPANY

1.   All items must be completed by the investment company.

2.   Give this Form to the independent public accountant who, in compliance with
     Rule 17f-2 under the Act and applicable state law, examines securities and
     similar investments in the custody of the investment company.

ACCOUNTANT

3.   Submit this Form to the Securities and Exchange Commission and appropriate
     state securities administrators when filing the certificate of accounting
     required by Rule 17f-2 under the Act and applicable state law. File the
     original and one copy with the Securities and Exchange Commission's
     principal office in Washington, D.C., one copy with the regional office for
     the region in which the investment company's principal business operations
     are conducted, and one copy with the appropriate state administrator(s), if
     applicable.

          THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT



             Report of Independent Registered Public Accounting Firm

To the Board of Directors of
   RiverSource Funds

We have examined management's assertion, included in the accompanying Management
Statement Regarding Compliance With Certain Provisions of the Investment Company
Act of 1940, that the following Funds:

     RiverSource Mid Cap Growth Fund;
     RiverSource Portfolio Builder Conservative Fund;
     RiverSource Global Bond Fund;
     RiverSource International Opportunity Fund;
     RiverSource Global Technology Fund;
     RiverSource Global Equity Fund;
     RiverSource Emerging Markets Fund;
     RiverSource Small Company Index Fund;
     RiverSource Diversified Equity Income Fund;
     RiverSource European Equity Fund;
     RiverSource S&P 500 Index Fund;
     RiverSource Portfolio Builder Moderate Fund;
     RiverSource Portfolio Builder Moderate Aggressive Fund;
     RiverSource International Select Value Fund;
     RiverSource Portfolio Builder Aggressive Fund;
     RiverSource Portfolio Builder Total Equity Fund;
     RiverSource Portfolio Builder Moderate Conservative Fund;
     RiverSource Absolute Return Currency and Income Fund;
     RiverSource Emerging Markets Bond Fund;
     RiverSource VP-Diversified Bond Fund;
     RiverSource VP-Cash Management Fund;
     RiverSource VP-International Opportunity Fund;
     RiverSource VP-Global Bond Fund;
     RiverSource VP-High Yield Bond Fund;
     RiverSource VP-Growth Fund;
     RiverSource VP-Diversified Equity Income Fund;
     RiverSource VP-Short Duration U.S. Government Fund;
     RiverSource VP-S&P 500 Index Fund;
     RiverSource VP-Emerging Markets Fund;
     RiverSource VP-Mid Cap Growth Fund;
     RiverSource VP-Core Bond Fund;
     RiverSource VP-Large Cap Value Fund;
     RiverSource VP-Income Opportunities Fund;
     RiverSource VP-Global Inflation Protected Securities Fund;
     RiverSource VP -Core Equity Fund;
     RiverSource VP-Mid Cap Value Fund;
     RiverSource VP-Fundamental Value Fund;



     RiverSource Balanced Fund;
     RiverSource Strategic Allocation Fund;
     RiverSource International Small Cap Fund;
     RiverSource International Equity Fund;
     RiverSource International Aggressive Growth Fund;
     RiverSource VP-Large Cap Equity Fund;
     RiverSource VP-Small Cap Advantage Fund;
     RiverSource VP-Small Cap Value Fund;
     RiverSource VP-Select Value Fund;
     RiverSource Disciplined Large Cap Growth Fund;
     RiverSource Strategic Income Allocation Fund;

of the RiverSource Funds (referred to collectively as the Funds) complied with
the requirements of subsections (b) and (c) of rule 17f-2 of the Investment
Company Act of 1940 (the Act) as of August 31, 2007. Management is responsible
for the Funds' compliance with those requirements. Our responsibility is to
express an opinion on management's assertion about the Funds' compliance based
on our examination.

Our examination was conducted in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and, accordingly, included
examining, on a test basis, evidence about the Funds' compliance with those
requirements and performing such other procedures as we considered necessary in
the circumstances. Included among our procedures were the following tests
performed as of August 31, 2007, and with respect to agreement of security
purchases and sales, for the period from September 1, 2006 through August 31,
2007:

- -    Count and inspection of all securities located in the vault of Ameriprise
     Trust Company (the Custodian) in Minneapolis, Minnesota, without prior
     notice to management;

- -    Confirmation of all securities held by institutions in book entry form
     (Wells Fargo and Depository Trust Company);

- -    Confirmation of all securities hypothecated, pledged, placed in escrow, or
     out for transfer with brokers, pledgees, or transfer agents;

- -    Review of reconciliation of all such securities to the books and records of
     the Funds and the Custodian;

- -    Agreement of twenty-five security purchases, security sales or maturities
     from the books and records of the Funds to broker confirmations.

We believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Funds' compliance with
specified requirements.



In our opinion, management's assertion that the Funds complied with the
requirements of subsections (b) and (c) of rule 17f-2 of the Act as of August
31, 2007, with respect to securities reflected in the investment accounts of the
Funds is fairly stated, in all material respects.

This report is intended solely for the information and use of management and the
Board of Directors of the Funds and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than these
specified parties.


                                                           /s/ Ernst & Young LLP

Minneapolis, Minnesota
November 26, 2007



    Management Statement Regarding Compliance With Certain Provisions of the
                         Investment Company Act of 1940

November 26, 2007

I, as a member of management of the RiverSource Mid Cap Growth Fund, RiverSource
Portfolio Builder Conservative Fund, RiverSource Global Bond Fund, RiverSource
International Opportunity Fund, RiverSource Global Technology Fund, RiverSource
Global Equity Fund, RiverSource Emerging Markets Fund, RiverSource Small Company
Index Fund, RiverSource Diversified Equity Income Fund, RiverSource European
Equity Fund, RiverSource S&P 500 Index Fund, RiverSource Portfolio Builder
Moderate Fund, RiverSource Portfolio Builder Moderate Aggressive Fund,
RiverSource International Select Value Fund, RiverSource Portfolio Builder
Aggressive Fund, RiverSource Portfolio Builder Total Equity Fund, RiverSource
Portfolio Builder Moderate Conservative Fund, RiverSource Absolute Return
Currency and Income Fund, RiverSource Emerging Markets Bond Fund, RiverSource
VP-Diversified Bond Fund, RiverSource VP-Cash Management Fund, RiverSource
VP-International Opportunity Fund, RiverSource VP-Global Bond Fund, RiverSource
VP-High Yield Bond Fund, RiverSource VP-Growth Fund, RiverSource VP-Diversified
Equity Income Fund, RiverSource VP-Short Duration U.S. Government Fund,
RiverSource VP-S&P 500 Index Fund, RiverSource VP-Emerging Markets Fund,
RiverSource VP-Mid Cap Growth Fund, RiverSource VP-Core Bond Fund, RiverSource
VP-Large Cap Value Fund, RiverSource VP-Income Opportunities Fund, RiverSource
VP-Global Inflation Protected Securities Fund, RiverSource VP-Core Equity Fund,
RiverSource VP-Mid Cap Value Fund, RiverSource VP-Fundamental Value Fund,
RiverSource Balanced Fund, RiverSource Strategic Allocation Fund, RiverSource
International Small Cap Fund, RiverSource International Equity Fund, RiverSource
International Aggressive Growth Fund, RiverSource VP-Large Cap Equity Fund,
RiverSource VP-Small Cap Advantage Fund, RiverSource VP-Small Cap Value Fund,
RiverSource Select Value Fund, RiverSource Disciplined Large Cap Growth Fund,
and RiverSource Strategic Income Allocation Fund (referred to collectively as
the Funds), am responsible for complying with the requirements of subsections
(b) and (c) of rule 17f-2, "Custody of Investments by Registered Management
Investment Companies," of the Investment Company Act of 1940. I am also
responsible for establishing and maintaining effective internal controls over
compliance with those requirements. I have performed an evaluation of the Funds'
compliance with the requirements of subsections (b) and (c) of rule 17f-2 as of
August 31, 2007, and from the date of the last examination of each fund through
August 31, 2007.

Based on this evaluation, I assert that the Funds were in compliance with the
requirements of subsections (b) and (c) of rule 17f-2 of the Investment Company
Act of 1940 as of August 31, 2007, and from the date of the last examination of
each fund through August 31, 2007, with respect to securities reflected in the
investment accounts of the Funds.


By: /s/ Jeffrey P. Fox
    ---------------------------------
    Jeffrey P. Fox
    Treasurer
    RiverSource Funds