<SEC-DOCUMENT>0001171520-13-000332.txt : 20130426
<SEC-HEADER>0001171520-13-000332.hdr.sgml : 20130426
<ACCEPTANCE-DATETIME>20130426170619
ACCESSION NUMBER:		0001171520-13-000332
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130228
FILED AS OF DATE:		20130426
DATE AS OF CHANGE:		20130426
EFFECTIVENESS DATE:		20130426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ING PRIME RATE TRUST
		CENTRAL INDEX KEY:			0000826020
		IRS NUMBER:				956874587
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05410
		FILM NUMBER:		13788235

	BUSINESS ADDRESS:	
		STREET 1:		ING PRIME RATE TRUST
		STREET 2:		7337 E. DOUBLETREE RANCH ROAD, STE 100
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258
		BUSINESS PHONE:		4804773000

	MAIL ADDRESS:	
		STREET 1:		ING PRIME RATE TRUST
		STREET 2:		7337 E. DOUBLETREE RANCH ROAD, STE 100
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85258

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM AMERICA PRIME RATE TRUST
		DATE OF NAME CHANGE:	19960518

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM PRIME RATE TRUST/
		DATE OF NAME CHANGE:	19960518

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PILGRIM PRIME RATE TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TEXT>
<PAGE>      PAGE  1
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000 J000000 A
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
014 A000019 ING CORRETORA DE CAMBIO E TITULOS S.A.
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014 A000020 ING FINANCIAL ADVISERS, LLC
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014 A000021 ING FINANCIAL MARKETS AV
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014 A000024 ING FUND MANAGEMENT B.V.
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014 A000028 ING INVESTMENT MANAGEMENT B.V.
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014 A000029 ING INVESTMENT MANAGEMENT SERVICES LLC
014 B000029 8-00000000
014 A000030 ING LUXEMBOURG S.A.
014 B000030 8-00000000
014 A000031 ING MANAGEMENT LIMITED
014 B000031 8-00000000
014 A000032 ING MORTGAGE BROKER SERVICES INC.
014 B000032 8-00000000
014 A000033 ING SECURITIES (INDIA) PVT. LTD.
014 B000033 8-00000000
014 A000034 ING SECURITIES S.A.
014 B000034 8-00000000
014 A000035 ING SOCIEDAD DE BOLSA (ARGENTINA), S.A.
014 B000035 8-00000000
014 A000036 ING VALORES (VENEZUELA) C.A..
014 B000036 8-00000000
014 A000037 INSURANCE BROKERS HOTLINE PTY LIMITED
014 B000037 8-00000000
014 A000038 MC-BBL SECURITIES LTD.
014 B000038 8-00000000
014 A000039 PRIMEVEST FINANCIAL SERVICES, INC.
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014 A000040 SHAREBUILDER SECURITIES CORP.
014 B000040 8-00000000
014 A000041 SILVER FERN LIFE BROKERS LIMITED
014 B000041 8-00000000
014 A000042 SYSTEMATIZED BENEFITS ADMINISTRATORS, INC.
014 B000042 8-00000000
014 A000043 WESTLAND UTRECHT EFFECTENBANK N.V.
014 B000043 8-00000000
015 A000001 STATE STREET BANK AND TRUST COMPANY
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022 A000004 JP MORGAN CHASE
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022 C000004     93442
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022 A000005 CITIGROUP, INC.
022 B000005 11-2418191
022 C000005     40669
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022 A000006 BARCLAYS CAPITAL
022 B000006 13-3551367
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<PAGE>      PAGE  5
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022 A000009 WELLS FARGO
022 B000009 41-0449260
022 C000009     46414
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022 A000010 JEFFERIES GROUP, INC.
022 B000010 95-2622900
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SIGNATURE   TODD MODIC
TITLE       CFO

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<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>2
<FILENAME>ex99-77b.htm
<TEXT>
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-size: 11pt"><B>Exhibit 77(b)</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>Report of Independent
Registered Public Accounting Firm</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The Shareholders and Board of Trustees</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">ING Prime Rate Trust</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">In planning and performing
our audit of the financial statements of ING Prime Rate Trust, as of and for the year ended February 28, 2013, in accordance with
the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund&rsquo;s internal control
over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for
the purpose of expressing an opinion on the effectiveness of the Fund&rsquo;s internal control over financial reporting. Accordingly,
we express no such opinion.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Management of the Fund
is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility,
estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal
control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP).
A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance
with GAAP, and that receipts and expenditures of the company are being made only in accordance with authorizations of management
and trustees of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use, or disposition of a company's assets that could have a material effect on the financial statements.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A deficiency in internal control over financial
reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination
of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement
of the Fund&rsquo;s annual or interim financial statements will not be prevented or detected on a timely basis.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our consideration of the Fund&rsquo;s internal
control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose
all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting
Oversight Board (United States). However, we noted no deficiencies in the Fund&rsquo;s internal control over financial reporting
and its operation, including controls over safeguarding securities that we consider to be a material weakness as defined above
as of February 28, 2013.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This report is intended solely for the information
and use of management and the Board of Trustees of ING Prime Rate Trust and the Securities and Exchange Commission and is not intended
to be and should not be used by anyone other than these specified parties.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">/s/ KPMG LLP</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Boston, Massachusetts</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">April 25, 2013</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: left"></P>

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