The IC400 features a maple top on a mahogany body mated to a set-in 3-ply rock maple neck with a smooth heel and a 22-fret ebonized rosewood fingerboard with pearloid parallelogram position markers. Components include a Gibraltar fixed bridge mounted to a sustain block sunk into the guitar body, a Quik Change tailpiece, a pair Ibanez Super 80 "Flying Fingers" humbucking pickups with individual volume and tone controls, a half bone/ half brass nut, Sure Grip knobs, and Velve-Tune machine heads. The output jack is mounted on the face of the guitar.
The IC300 is a similar model with an ash body, dot fretboard inlays and chrome hardware.
As few as 171 IC400s were produced — 117 in 1978 and 54 in 1979.