PAGE 1 000 B000000 04/30/2012 000 C000000 0001210123 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 WFA Income Opportunities Fund 001 B000000 811-21269 001 C000000 4153960446 002 A000000 525 Market Street 002 B000000 San Francisco 002 C000000 CA 002 D010000 94105 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 WELLS FARGO FUNDS MANAGEMENT, LLC 008 B000001 A 008 C000001 801-58237 008 D010001 SAN FRANCISCO 008 D020001 CA 008 D030001 94105 008 A000002 WELLS CAPITAL MANAGEMENT, INC. 008 B000002 S 008 C000002 801-21122 008 D010002 SAN FRANCISCO 008 D020002 CA 008 D030002 94105 010 A000001 WELLS FARGO FUNDS MANAGEMENT, LLC 010 B000001 801-58237 010 C010001 SAN FRANCISCO 010 C020001 CA 010 C030001 94105 011 A000001 Wells Fargo Funds Distributor, LLC 011 B000001 8-066716 011 C010001 San Francisco 011 C020001 CA 011 C030001 94105 012 A000001 Computershare Trust Company, N.A 012 B000001 85-000 012 C010001 Providence 012 C020001 RI 012 C030001 02940 012 C040001 3010 PAGE 2 013 A000001 KPMG LLP 013 B010001 Boston 013 B020001 MA 013 B030001 02110 014 A000001 HD VEST INVESTMENT SERVICES, INC. 014 B000001 8-029892 014 A000002 Wells Fargo Brokerage Services, LLC 014 B000002 8-033283 014 A000003 Wells Fargo Institutional Securities, LLC 014 B000003 8-016600 014 A000004 Wells Fargo Investments, LLC 014 B000004 8-0158211 014 A000005 Wells Fargo Securities, LLC 014 B000005 8-0142443 014 A000006 Wells Fargo Funds Distributor, LLC 014 B000006 8-066716 015 A000001 STATE STREET BANK AND TRUST COMPANY 015 B000001 C 015 C010001 KANSAS CITY 015 C020001 MO 015 C030001 64105 015 E010001 X 018 000000 Y 019 A000000 Y 019 B000000 137 019 C000000 WELLSFARGO 020 A000001 Fidelity Capital Markets 020 C000001 2 020 A000002 National Financial Services Corp. 020 B000002 04-3523567 020 C000002 1 020 A000003 UBS SECURITIES (FORMERLY UBS WARBURG) 020 B000003 13-3873456 020 C000003 1 021 000000 4 022 A000001 BANK OF AMERICA SECURITIES 022 B000001 56-2058405 022 C000001 49632 022 D000001 34852 022 A000002 BARCLAYS CAPITAL INC 022 B000002 06-1031656 022 C000002 39951 022 D000002 14829 022 A000003 JP MORGAN SECURITIES 022 B000003 13-3224016 022 C000003 40666 022 D000003 8457 022 A000004 Credit Suisse First Boston 022 B000004 13-5659485 022 C000004 27178 022 D000004 11563 PAGE 3 022 A000005 CITIGROUP 022 B000005 13-3214963 022 C000005 18713 022 D000005 7611 022 A000006 Morgan Stanley & Co. Inc 022 B000006 13-2655998 022 C000006 14111 022 D000006 3976 022 A000007 GOLDMAN SACHS & CO 022 B000007 13-5108880 022 C000007 8258 022 D000007 7076 022 A000008 JEFFERIES & CO. INC. 022 B000008 95-2622900 022 C000008 2190 022 D000008 12461 022 A000009 UBS SECURITIES (FORMERLY UBS WARBURG) 022 B000009 13-3873456 022 C000009 4747 022 D000009 8369 022 A000010 The PrinceRidge Group 022 B000010 36-4644841 022 C000010 8613 022 D000010 3050 023 C000000 264982 023 D000000 134319 024 000000 N 026 A000000 N 026 B000000 N 026 C000000 N 026 D000000 Y 026 E000000 N 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 N 028 A010000 0 028 A020000 0 028 A030000 0 028 A040000 0 028 B010000 0 028 B020000 0 028 B030000 0 028 B040000 0 028 C010000 0 028 C020000 0 028 C030000 0 028 C040000 0 028 D010000 0 028 D020000 0 PAGE 4 028 D030000 0 028 D040000 0 028 E010000 0 028 E020000 0 028 E030000 0 028 E040000 0 028 F010000 0 028 F020000 0 028 F030000 0 028 F040000 0 028 G010000 0 028 G020000 0 028 G030000 0 028 G040000 0 028 H000000 0 030 A000000 0 030 B000000 0.00 030 C000000 0.00 031 A000000 0 031 B000000 0 032 000000 0 033 000000 0 035 000000 0 036 B000000 0 038 000000 0 042 A000000 0 042 B000000 0 042 C000000 0 042 D000000 0 042 E000000 0 042 F000000 0 042 G000000 0 042 H000000 0 043 000000 0 044 000000 0 045 000000 Y 046 000000 N 047 000000 Y 048 000000 0.600 048 A010000 0 048 A020000 0.000 048 B010000 0 048 B020000 0.000 048 C010000 0 048 C020000 0.000 048 D010000 0 048 D020000 0.000 048 E010000 0 048 E020000 0.000 048 F010000 0 048 F020000 0.000 PAGE 5 048 G010000 0 048 G020000 0.000 048 H010000 0 048 H020000 0.000 048 I010000 0 048 I020000 0.000 048 J010000 0 048 J020000 0.000 048 K010000 0 048 K020000 0.000 049 000000 N 050 000000 N 051 000000 N 052 000000 N 053 A000000 Y 053 B000000 Y 053 C000000 N 054 A000000 Y 054 B000000 N 054 C000000 N 054 D000000 N 054 E000000 N 054 F000000 N 054 G000000 N 054 H000000 N 054 I000000 N 054 J000000 Y 054 K000000 N 054 L000000 N 054 M000000 Y 054 N000000 N 054 O000000 N 055 A000000 N 055 B000000 N 056 000000 Y 057 000000 N 058 A000000 N 059 000000 Y 060 A000000 Y 060 B000000 Y 061 000000 0 062 A000000 Y 062 B000000 0.0 062 C000000 0.0 062 D000000 0.0 062 E000000 0.0 062 F000000 0.0 062 G000000 0.0 062 H000000 0.0 062 I000000 0.0 062 J000000 0.0 PAGE 6 062 K000000 0.0 062 L000000 6.5 062 M000000 0.0 062 N000000 0.0 062 O000000 0.0 062 P000000 113.3 062 Q000000 15.4 062 R000000 -35.2 063 A000000 0 063 B000000 6.0 064 A000000 N 064 B000000 Y 065 000000 N 066 A000000 N 067 000000 N 068 A000000 N 068 B000000 N 069 000000 N 070 A010000 Y 070 A020000 N 070 B010000 Y 070 B020000 N 070 C010000 Y 070 C020000 N 070 D010000 Y 070 D020000 N 070 E010000 Y 070 E020000 N 070 F010000 Y 070 F020000 N 070 G010000 Y 070 G020000 N 070 H010000 Y 070 H020000 N 070 I010000 Y 070 I020000 N 070 J010000 Y 070 J020000 Y 070 K010000 Y 070 K020000 Y 070 L010000 Y 070 L020000 Y 070 M010000 Y 070 M020000 N 070 N010000 Y 070 N020000 N 070 O010000 Y 070 O020000 Y 070 P010000 Y 070 P020000 N 070 Q010000 N PAGE 7 070 Q020000 N 070 R010000 Y 070 R020000 N 071 A000000 270699 071 B000000 217265 071 C000000 874866 071 D000000 25 072 A000000 12 072 B000000 73842 072 C000000 143 072 D000000 0 072 E000000 0 072 F000000 5430 072 G000000 453 072 H000000 0 072 I000000 0 072 J000000 57 072 K000000 0 072 L000000 104 072 M000000 12 072 N000000 0 072 O000000 0 072 P000000 536 072 Q000000 0 072 R000000 58 072 S000000 0 072 T000000 0 072 U000000 0 072 V000000 0 072 W000000 2452 072 X000000 9102 072 Y000000 2114 072 Z000000 66997 072AA000000 7371 072BB000000 0 072CC010000 0 072CC020000 33222 072DD010000 71940 072DD020000 0 072EE000000 0 073 A010000 1.0200 073 A020000 0.0000 073 B000000 0.0000 073 C000000 0.0000 074 A000000 0 074 B000000 0 074 C000000 0 074 D000000 857315 074 E000000 1269 074 F000000 632 074 G000000 0 PAGE 8 074 H000000 0 074 I000000 44569 074 J000000 2478 074 K000000 0 074 L000000 17183 074 M000000 99 074 N000000 923545 074 O000000 3009 074 P000000 342 074 Q000000 0 074 R010000 0 074 R020000 0 074 R030000 0 074 R040000 236386 074 S000000 0 074 T000000 683808 074 U010000 70726 074 U020000 0 074 V010000 9.67 074 V020000 0.00 074 W000000 0.0000 074 X000000 0 074 Y000000 0 075 A000000 0 075 B000000 677497 076 000000 9.29 077 A000000 Y 077 B000000 Y 077 C000000 N 077 D000000 N 077 E000000 N 077 F000000 N 077 G000000 N 077 H000000 N 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N 077 N000000 N 077 O000000 Y 077 P000000 N 077 Q010000 N 077 Q020000 N 077 Q030000 N 078 000000 N 080 A000000 Great American 080 B000000 Zurich,Berkley,Chubb,Axis,Chartis,Travelers 080 C000000 1350 081 A000000 Y 081 B000000 137 PAGE 9 082 A000000 Y 082 B000000 50 083 A000000 N 083 B000000 0 084 A000000 N 084 B000000 0 085 A000000 Y 085 B000000 N 086 A010000 487 086 A020000 4753 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 087 A010000 Wells Fargo Advantage Income Opportunies Fund 087 A020000 30023Y105 087 A030000 EAD 088 A000000 N 088 B000000 N 088 C000000 N 088 D000000 Y SIGNATURE KASEY PHILLIPS TITLE TREASURER