Abstract: A bed foundation for supporting a mattress in a raised position relative to a floor that includes a frame assembly, mattress support panels, and retaining elements shiftably carried by the frame assembly for securing the mattress support panel against movement in the longitudinal and transverse axes of the bed foundation. The foundation is easily disassembled for compact storage and shipping, yet provides a high quality, sturdy mattress foundation when assembled. The retaining clips include a generally inverted U-shaped in cross section clip element that is slidably carried by the frame assembly frame members, and a retaining pin that is receivable within apertures of the mattress supporting panel.