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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC 20549

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                                   FORM N-PX

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         ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
                              INVESTMENT COMPANY

                 Investment Company Act file number 811-21187

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                        PIMCO Municipal Income Fund III
              (Exact name of registrant as specified in charter)

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                       1633 Broadway, New York, NY 10019
              (Address of principal executive offices) (Zip code)

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                              William G. Galipeau
                           650 Newport Center Drive
                            Newport Beach, CA 92660
                    (Name and address of agent for service)

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      Registrant's telephone number, including area code: (844) 337-4626

                     Date of fiscal year end: December 31

            Date of reporting period: July 1, 2017 to June 30, 2018

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******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-21187
Reporting Period: 07/01/2017 - 06/30/2018
PIMCO Municipal Income Fund III









======================= PIMCO Municipal Income Fund III ========================

There is no proxy voting activity for the fund, as the fund did not hold any
votable positions during the reporting period.
========== END NPX REPORT



                                  Signatures

Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

PIMCO Municipal Income Fund III

By:  /s/ Peter G. Strelow
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     Peter G. Strelow,
     President (Principal
     Executive Officer)

Date: August 29, 2018

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