Certificate of Accounting of Securities (Form 40-17F2)

Independent Accountant's Report

The Board of Directors of GNMA & US Government Target Maturity Fund for Puerto Rico Residents, Inc.

We have examined management's assertion, included in the accompanying Report of Management on Compliance with Certain Provisions of the Investment Company Act of 1940, that GNMA & US Government Target Maturity Fund for Puerto Rico Residents, Inc. (the Fund), complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 (the Act) as of March 31, 2023. Management is responsible for its assertion about compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Act (the specified requirements). Our responsibility is to express an opinion on management's assertion about the Fund's compliance with the specified requirements based on our examination.

Our examination was conducted in accordance with the attestation standards established by the American Institute of Certified Public Accountants ("AICPA") Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management's assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management's assertion is fairly stated, in all material respects. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management's assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

We are required to be independent of the GNMA & US Government Target Maturity Fund for Puerto Rico Residents, Inc., and to meet our other ethical responsibilities, as applicable for examination engagements set forth in the Preface: Applicable to All Members and Part 1 - Members in Public Practice of the Code of Professional Conduct established by the AICPA.

Included among our procedures were the following tests performed as of March 31, 2023, the examination date we selected without prior notice to management and with respect to agreement of security purchases and sales, for the period from September 1, 2022 (the immediate date after our last examination) through March 31, 2023:

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

In our opinion, management's assertion that the GNMA & US Government Target Maturity Fund for Puerto Rico Residents, Inc., complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Act as of March 31, 2023, with respect to securities reflected in the investment account of the Fund 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 GNMA & US Government Target Maturity Fund for Puerto Rico Residents, Inc., 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

San Juan, Puerto Rico

October 7, 2025

Report of Management on Compliance with Certain Provisions of the Investment Company Act of 1940

October 7, 2025

We, as members of management of GNMA & US Government Target Maturity Fund for Puerto Rico Residents, Inc., (the Fund) are 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 ("the Act"). We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Fund's compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of March 31, 2023, and from September 1, 2022 (immediate date after the last examination date) through March 31, 2023.

Based on this evaluation, we assert that the Fund was in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Act as of March 31, 2023, and from September 1, 2022, through March 31, 2023, with respect to securities reflected in the investment account of the Fund.

Sincerely,

GNMA & US Government Target Maturity Fund for Puerto Rico Residents, Inc.

/s/ Claudio Ballester

/s/ Heydi Cuadrado

Claudio Ballester

Executive Director of Fund Administrator

Heydi Cuadrado

Director of the Investment Advisor