<html>

<head>
<title>Form 8-K</title>
</head>

<body>

<p ALIGN="CENTER"></p>
<CENTER>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="369">
  <tr>
    <td VALIGN="TOP"><b>
    <p ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION<font SIZE="2"><br>
    </font></b><font SIZE="2">Washington, D.C. 20549</font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">&nbsp;</b></font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">&nbsp;</b></font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">&nbsp;</b></font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">FORM 8-K<br>
    CURRENT REPORT</b></font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">Pursuant to Section 13 or 15(d) of<br>
    The Securities Exchange Act of 1934</font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">Date of Report (Date of earliest event reported) July 7,
    2004</font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
  </tr>
</TABLE>
</CENTER>
<p></p>
<font SIZE="2">
<p ALIGN="CENTER">&nbsp;</p>
</font>
<p ALIGN="CENTER"></p>
<CENTER>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="221">
  <tr>
    <td VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">ITI 401(k) Plan</b></font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER"><hr size="1"></font></td>
  </tr>
  <tr>
    <td VALIGN="TOP"><font SIZE="1">
    <p ALIGN="CENTER">(Exact name of registrant as specified in its charter)</font></td>
  </tr>
</TABLE>
</CENTER>
<p></p>
<font SIZE="2">
<p ALIGN="CENTER">&nbsp;</p>
</font>
<p ALIGN="CENTER"></p>
<CENTER>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="678">
  <tr>
    <td WIDTH="39%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">N/A</b></font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">1-35</b></font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">N/A</b></font></td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER"><hr size="1"></font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER"><hr size="1"></font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER"><hr size="1"></font></td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="1">
    <p ALIGN="CENTER">(State or other jurisdiction of incorporation)</font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP"><font SIZE="1">
    <p ALIGN="CENTER">(Commission File Number)</font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP"><font SIZE="1">
    <p ALIGN="CENTER">(IRS Employer Identification No.)</font></td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">1907 Calumet Street, Clearwater, FL</b></font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP"><font SIZE="2"><b>
    <p ALIGN="CENTER">33765-7190</b></font></td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER"><hr size="1"></font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER"><hr size="1"></font></td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="1">
    <p ALIGN="CENTER">(Address of principal executive offices)</font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP"><font SIZE="1">
    <p ALIGN="CENTER">(Zip Code)</font></td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="39%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER">&nbsp;</font></td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="19%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="2%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="38%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td VALIGN="TOP" COLSPAN="5"><font SIZE="2">
    <p ALIGN="CENTER">Registrant's telephone number, including area code <u>
    (727) 298-2000</u></font></td>
  </tr>
</TABLE>
</CENTER>
<p></p>
<font SIZE="2">
<p ALIGN="CENTER"></p>
<b>
<p ALIGN="CENTER">&nbsp;</p>
</b>
<b>
<HR Style='page-break-after:always'>
<p ALIGN="LEFT">Item 4. Changes in Registrant's Certifying Auditors</p>
</b>
<p ALIGN="LEFT">In connection with General Electric Company's prior acquisition
of Instrument Transformers, Inc., GE has engaged KPMG LLP as its independent
auditors to audit the financial statements of the ITI 401(k) Plan (the &quot;Plan&quot;)
for the year ended December 31, 2003. Spence, Marston, Bunch, Morris &amp; Co.
(&quot;Spence Marston&quot;) was dismissed as auditors of the Plan. The Audit Committee of
GE has approved the engagement of KPMG to audit the Plan. The reports of Spence
Marston regarding the Plan's financial statements as of and for the years ended
December 31, 2002 and 2001 did not contain any adverse opinion or disclaimer of
opinion or any qualification or modification as to uncertainty, audit scope or
accounting principles, except that the report of Spence Marston regarding the
Plan's financial statements as of and for the year ended December 31, 2001 was a
limited scope audit as permitted by the Department of Labor (DOL) in connection
with the Plan's annual reporting obligation under the Employee Retirement Income
Security Act (ERISA) and was filed with Form 5500. No auditing procedures were
performed for the investments and investment earnings which were certified to by
Franklin Templeton, the Trustee. Because of the significance of the information
that was not audited, Spence Marston disclaimed an opinion on the 2001 financial
statements. In connection with its audits for 2002 and 2001 and through the time
of dismissal of Spence Marston, there have been no disagreements with Spence
Marston on any matter of accounting principles or practices, financial statement
disclosure or auditing scope or procedure which, if not resolved to the
satisfaction of Spence Marston, would have caused it to make reference to the
matter in its reports. Spence Marston has been provided with a copy of the
foregoing statements. Attached as Exhibit 16 is a copy of Spence Marston's
letter dated July 7, 2004 stating its agreement with such statements.</p>
<p ALIGN="LEFT">On February 10, 2004, the Plan engaged KPMG LLP as its
independent accountants to audit the Plan's financial statements for the year
ended December 31, 2003. During the years ended December 31, 2002 and 2001 and
through the date of engagement of KPMG LLP, the Plan did not consult with KPMG
LLP on any accounting or auditing matter.</p>
<b>
<p ALIGN="LEFT">Item 7(c). Exhibits</p>
</b>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%">
  <tr>
    <td nowrap>
<font SIZE="2">
    (16)&nbsp;</font></td>
    <td>
<p ALIGN="LEFT">
<font SIZE="2">
&nbsp;Letter from Spence, Marston, Bunch, Morris &amp; Co. to the Securities and
Exchange Commission dated July 7, 2004</font></p>
    </td>
  </tr>
</table>
<b>
<p ALIGN="LEFT">Exhibit Index</p>
</b>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%">
  <tr>
    <td nowrap>
<font SIZE="2">
    16&nbsp;</font></td>
    <td>
<p ALIGN="LEFT">
<font SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Letter from Spence, Marston, Bunch, Morris &amp; Co. to the Securities
and Exchange Commission dated July 7, 2004</font></p>
    </td>
  </tr>
</table>
<p ALIGN="center">(2)</P>
<b>
<HR Style='page-break-after:always'>
<p ALIGN="CENTER">Signature</p>
</b>
<p ALIGN="LEFT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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. </p>
<p ALIGN="LEFT"></p>
</font>
<CENTER>
<div align="left">
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="625" style="border-collapse: collapse" bordercolor="#111111">
  <tr>
    <td WIDTH="47%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="53%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="LEFT">ITI 401(k) Plan</font></td>
  </tr>
  <tr>
    <td WIDTH="47%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="53%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="LEFT">&nbsp;</font></td>
  </tr>
  <tr>
    <td WIDTH="47%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="53%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="LEFT">&nbsp;</font></td>
  </tr>
  <tr>
    <td WIDTH="47%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="53%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="LEFT">&nbsp;</font></td>
  </tr>
  <tr>
    <td WIDTH="47%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="RIGHT">By:&nbsp;&nbsp;</font></td>
    <td WIDTH="53%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="LEFT">/s/ Patti Caron</font></td>
  </tr>
  <tr>
    <td WIDTH="47%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="53%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="CENTER"><hr size="1"></font></td>
  </tr>
  <tr>
    <td WIDTH="47%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="53%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="LEFT">Patti Caron<br>
    Administrator</font></td>
  </tr>
  <tr>
    <td WIDTH="47%" VALIGN="TOP"><font SIZE="2">
    <p ALIGN="LEFT">Date: July 7, 2004</font></td>
    <td WIDTH="53%" VALIGN="TOP">&nbsp;</td>
  </tr>
</TABLE>
</div>
</CENTER>
<font SIZE="2">
<p ALIGN="LEFT"></p>
</font>

<p align="center"><font size="2">(3)</font></p>

</body>

</html>
[{"type": "8-K", "sequence": "1", "filename": "frm8k.htm", "secsgml_size_bytes": 11518}]
{"company-data": {"conformed-name": "GENERAL ELECTRIC CO", "cik": "0000040545", "assigned-sic": "3600", "irs-number": "140689340", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-00035", "film-number": "04903863"}, "business-address": {"street1": "3135 EASTON TURNPIKE", "street2": "W3M", "city": "FAIRFIELD", "state": "CT", "zip": "06828", "phone": "203-373-2211"}, "mail-address": {"street1": "3135 EASTON TURNPIKE", "street2": "W3M", "city": "FAIRFIELD", "state": "CT", "zip": "06828"}}
Form 8-K
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) July 7,
    2004
ITI 401(k) Plan
(Exact name of registrant as specified in its charter)
N/A
1-35
N/A
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1907 Calumet Street, Clearwater, FL
33765-7190
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(727) 298-2000
Item 4. Changes in Registrant's Certifying Auditors
In connection with General Electric Company's prior acquisition
of Instrument Transformers, Inc., GE has engaged KPMG LLP as its independent
auditors to audit the financial statements of the ITI 401(k) Plan (the "Plan")
for the year ended December 31, 2003. Spence, Marston, Bunch, Morris & Co.
("Spence Marston") was dismissed as auditors of the Plan. The Audit Committee of
GE has approved the engagement of KPMG to audit the Plan. The reports of Spence
Marston regarding the Plan's financial statements as of and for the years ended
December 31, 2002 and 2001 did not contain any adverse opinion or disclaimer of
opinion or any qualification or modification as to uncertainty, audit scope or
accounting principles, except that the report of Spence Marston regarding the
Plan's financial statements as of and for the year ended December 31, 2001 was a
limited scope audit as permitted by the Department of Labor (DOL) in connection
with the Plan's annual reporting obligation under the Employee Retirement Income
Security Act (ERISA) and was filed with Form 5500. No auditing procedures were
performed for the investments and investment earnings which were certified to by
Franklin Templeton, the Trustee. Because of the significance of the information
that was not audited, Spence Marston disclaimed an opinion on the 2001 financial
statements. In connection with its audits for 2002 and 2001 and through the time
of dismissal of Spence Marston, there have been no disagreements with Spence
Marston on any matter of accounting principles or practices, financial statement
disclosure or auditing scope or procedure which, if not resolved to the
satisfaction of Spence Marston, would have caused it to make reference to the
matter in its reports. Spence Marston has been provided with a copy of the
foregoing statements. Attached as Exhibit 16 is a copy of Spence Marston's
letter dated July 7, 2004 stating its agreement with such statements.
On February 10, 2004, the Plan engaged KPMG LLP as its
independent accountants to audit the Plan's financial statements for the year
ended December 31, 2003. During the years ended December 31, 2002 and 2001 and
through the date of engagement of KPMG LLP, the Plan did not consult with KPMG
LLP on any accounting or auditing matter.
Item 7(c). Exhibits
(16)
Letter from Spence, Marston, Bunch, Morris & Co. to the Securities and
Exchange Commission dated July 7, 2004
Exhibit Index
16
Letter from Spence, Marston, Bunch, Morris & Co. to the Securities
and Exchange Commission dated July 7, 2004
(2)
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.
ITI 401(k) Plan
By:
/s/ Patti Caron
Patti Caron
Administrator
Date: July 7, 2004
(3)