SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    Form 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) April 19, 1999.

                   INTERNATIONAL BUSINESS MACHINES CORPORATION
             (Exact name of registrant as specified in its charter)

New York                             1-2360                    13-0871985
(State of Incorporation)    (Commission File Number)        (I.R.S. Employer
                                                           Identification No.)

           Armonk, New York                             10504
(Address of principal executive offices)              (Zip Code)

Registrant's telephone number, including area code: 914-499-1900


Item 7. Financial Information, Pro Forma Financial Information and Exhibits.

      This Current Report on Form 8-K is being filed to incorporate by reference
into Registration Statement No. 333-70521 on Form S-3, which registration
statement was declared effective on March 9, 1999, the document included as
Exhibit 1 hereto, relating to the offering of up to $4,140,000,000 aggregate
principal amount of Medium-Term debt securities of the Registrant.

      The following exhibit is hereby filed with this report:

Exhibit
Number            Description

(1)               Agency Agreement dated March 11, 1999, among International
                  Business Machines Corporation, Chase Securities Inc., Credit
                  Suisse First Boston Corporation, Goldman, Sachs & Co., Merrill
                  Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley &
                  Co. Incorporated, and Salomon Smith Barney Inc.


                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                    INTERNATIONAL BUSINESS MACHINES CORPORATION
                                                    (Registrant)


                                    By:     /s/ Andrew Bonzani
                                            -----------------------------------
                                            Name:  Andrew Bonzani
                                            Title: Assistant Secretary

Date: April 22, 1999.


                                  Exhibit Index

Exhibit
Number            Description

(1)               Agency Agreement dated March 11, 1999, among International
                  Business Machines Corporation, Chase Securities Inc., Credit
                  Suisse First Boston Corporation, Goldman, Sachs & Co., Merrill
                  Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley &
                  Co. Incorporated, and Salomon Smith Barney Inc.