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: FEBRUARY 3, 2004
                        (Date of earliest event reported)



                         PRINCIPAL FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)


        DELAWARE                      1-16725                   42-1520346
(State or other jurisdiction    Commission file number       (I.R.S. Employer
     of incorporation)                                    Identification Number)


                     711 HIGH STREET, DES MOINES, IOWA 50392
                    (Address of principal executive offices)


                                 (515) 247-5111
                         (Registrant's telephone number,
                              including area code)

                               ------------------




<PAGE>


ITEM 7.  EXHIBITS

99       Table of full service accumulation sales for various reporting periods

ITEM 9.  REGULATION FD DISCLOSURE

Investors have asked for additional  information  regarding  Principal Financial
Group, Inc.'s full service accumulation sales.  Exhibit 99, attached,  shows our
full service  accumulation  sales for various reporting  periods,  including the
three and twelve month periods ended December 31, 2003.



                      SIGNATURE

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 thereunto duly authorized.


                      PRINCIPAL FINANCIAL GROUP, INC.


                      By:       /S/ THOMAS J. GRAF
                      ---------------------------------------------
                      Name:     Thomas J. Graf
                      Title:    Senior Vice President - Investor Relations



Date:  February 3, 2004



                                       2
<PAGE>


                                                                      EXHIBIT 99

                        FULL SERVICE ACCUMULATION SALES(1)
                                 (IN BILLIONS)

<TABLE>
<CAPTION>
                                            THREE MONTHS ENDED                                           TWELVE MONTHS ENDED
                           --------------------------------------------------------------  -----------------------------------------
                           31-Dec-03    30-Sep-03    30-June-03    31-Mar-03    31-Dec-02   31-Dec-03    31-Dec-02    31-Dec-01

<S>                           <C>        <C>           <C>         <C>           <C>        <C>            <C>           <C>
ORGANIC                       1.8        1.2           0.9         1.7           1.3        5.6            4.6           3.3
M&A(2)                        -          -             -           0.8           0.9        0.8            1.4           -
                           ----------  ------------  ----------- ------------  ----------  ------------ ------------ ---------------
TOTAL SALES                   1.8        1.2           0.9         2.5           2.2        6.4            6.0           3.3


                                            THREE MONTHS ENDED                                           TWELVE MONTHS ENDED
                           --------------------------------------------------------------  -----------------------------------------
                           31-Dec-02    30-Sep-02    30-June-02    31-Mar-02    31-Dec-01   31-Dec-02    31-Dec-01    31-Dec-00

ORGANIC                       1.3        1.3           0.9         1.1           0.9        4.6            3.3           2.0
M&A(2)                        0.9        0.1           0.2         0.2           -          1.4            -             -
                           ----------  ------------  ----------- ------------  ----------  ------------ ------------ ---------------
TOTAL SALES                   2.2        1.4           1.1         1.3           0.9        6.0            3.3           2.0

</TABLE>


1    Full service  accumulation sales are defined, for new cases, as an estimate
     of deposits  expected  in the first  twelve  months for new plans,  and for
     existing plans taken over from another  carrier,  as the transfered  assets
     plus new deposits expected in the first twelve months.

2    M&A refers to business  acquired through a formal  arrangement with another
     carrier  that  is  exiting  all or part of the  full  service  accumulation
     business.


                                       3
<PAGE>
[{"type": "8-K", "sequence": "1", "filename": "finalaccumulationsales.txt", "description": "8-K", "secsgml_size_bytes": 4894}]
{"company-data": {"conformed-name": "PRINCIPAL FINANCIAL GROUP INC", "cik": "0001126328", "assigned-sic": "6321", "irs-number": "421520346", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-16725", "film-number": "04561079"}, "business-address": {"street1": "711 HIGH STREET", "city": "DES MOINES", "state": "IA", "zip": "50392", "phone": "5152475111"}}
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: FEBRUARY 3, 2004
                        (Date of earliest event reported)

                         PRINCIPAL FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)

        DELAWARE                      1-16725                   42-1520346
(State or other jurisdiction    Commission file number       (I.R.S. Employer
     of incorporation)                                    Identification Number)

                     711 HIGH STREET, DES MOINES, IOWA 50392
                    (Address of principal executive offices)

                                 (515) 247-5111
                         (Registrant's telephone number,
                              including area code)

                               ------------------
ITEM 7.  EXHIBITS

99       Table of full service accumulation sales for various reporting periods

ITEM 9.  REGULATION FD DISCLOSURE

Investors have asked for additional  information  regarding  Principal Financial
Group, Inc.'s full service accumulation sales.  Exhibit 99, attached,  shows our
full service  accumulation  sales for various reporting  periods,  including the
three and twelve month periods ended December 31, 2003.

                      SIGNATURE

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 thereunto duly authorized.

                      PRINCIPAL FINANCIAL GROUP, INC.

                      By:       /S/ THOMAS J. GRAF
                      ---------------------------------------------
                      Name:     Thomas J. Graf
                      Title:    Senior Vice President - Investor Relations

Date:  February 3, 2004

                                       2
EXHIBIT 99

                        FULL SERVICE ACCUMULATION SALES(1)
                                 (IN BILLIONS)
THREE MONTHS ENDED                                           TWELVE MONTHS ENDED
                           --------------------------------------------------------------  -----------------------------------------
                           31-Dec-03    30-Sep-03    30-June-03    31-Mar-03    31-Dec-02   31-Dec-03    31-Dec-02    31-Dec-01
ORGANIC                       1.8        1.2           0.9         1.7           1.3        5.6            4.6           3.3
M&A(2)                        -          -             -           0.8           0.9        0.8            1.4           -
                           ----------  ------------  ----------- ------------  ----------  ------------ ------------ ---------------
TOTAL SALES                   1.8        1.2           0.9         2.5           2.2        6.4            6.0           3.3

                                            THREE MONTHS ENDED                                           TWELVE MONTHS ENDED
                           --------------------------------------------------------------  -----------------------------------------
                           31-Dec-02    30-Sep-02    30-June-02    31-Mar-02    31-Dec-01   31-Dec-02    31-Dec-01    31-Dec-00

ORGANIC                       1.3        1.3           0.9         1.1           0.9        4.6            3.3           2.0
M&A(2)                        0.9        0.1           0.2         0.2           -          1.4            -             -
                           ----------  ------------  ----------- ------------  ----------  ------------ ------------ ---------------
TOTAL SALES                   2.2        1.4           1.1         1.3           0.9        6.0            3.3           2.0
1    Full service  accumulation sales are defined, for new cases, as an estimate
     of deposits  expected  in the first  twelve  months for new plans,  and for
     existing plans taken over from another  carrier,  as the transfered  assets
     plus new deposits expected in the first twelve months.

2    M&A refers to business  acquired through a formal  arrangement with another
     carrier  that  is  exiting  all or part of the  full  service  accumulation
     business.

                                       3