United States
Securities and Exhange Commission
Washington, D.C.   20549

Form 12b-25

Notification of Late Filing

(Check one):
___ Form 10-K    __ Form 20-F   __ Form 11-K    ___ Form 10-Q    X  Form N-SAR

For the Period Ended:          03/31/99

Part I - Registrant Information

Full Name of Registrant

Investors Municipal Cash Fund

Former Name if Applicable

Address of Principal Executive Office (Street & Number)

222 South Riverside Plaza
Chicago, IL 60606

Part II - Rules 12b-25(b) and (c)

If the subject report could not be filed without  unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed.

(a) the reasons described in reasonable detail in Part III of this form could
not be eliminated without unreasonable effort or expense.

(b) The subject annual report,  semi-annual  report,  transition  report on Form
10-K,  Form 20-F,  11-K,  Form N-SAR,  or portion  thereof,  will be filed on or
before the  fifteenth  calendar day following  the  prescribed  due date; or the
subject quarterly report transition report on form 10-Q, or portion thereof will
be filed on or before the fifth calendar day following the prescribed due date

(c)     The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable

Part III - Narrative

State below in  reasonable  detail the reasons  why the Form 10-K,  11-K,  10-Q,
N-SAR, or the transition  report or portion  thereof,  could not be filed within
the prescribed time period.

The registrant requests additional time to file form NSAR so that it can compile
the necessary information to file a complete and accurate document.

Part IV - Other Information

(1)     Name and telephone number of person to contact in regard to this
notification

        Phil Collora, Vice President and Secretary
        (312) 537-1370

(2)     Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceeding 12 months been filed?

                Yes

(3) Is it anticipated that any significant  change in results of operations from
the  corresponding  period for the last  fiscal  year will be  reflected  by the
earnings statements to be included in the subject report or portion thereof?

        No



(Name of Registrant as Specified in Charter) Investors Municipal Cash Fund

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date:   5/24/99                         By:     Salvatore Schiavone
                                        /s/:    Salvatore Schiavone