<PAGE>

                       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): September 15, 2006

                          MERRILL LYNCH DEPOSITOR, INC.
                 (ON BEHALF OF PREFERREDPLUS TRUST SERIES GEC-1)
             (Exact name of registrant as specified in its charter)

          DELAWARE               001-31520                   13-3891329
      (State or other        (Commission File #)         (I. R. S. Employer
      jurisdiction of                                    Identification No.)
       incorporation)

                WORLD FINANCIAL CENTER,                          10080
                  NEW YORK,  NEW YORK                          (Zip Code)
                 (Address of principal
                  executive offices)
                           --------------------------

       Registrant's telephone number, including area code: (212) 449-1000

                      INFORMATION TO BE INCLUDED IN REPORT


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2.):

[  ]  Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

SECTION 1.        REGISTRANT'S BUSINESS AND OPERATIONS

                  Not applicable.

SECTION 2.        FINANCIAL INFORMATION

                  Not applicable.

SECTION 3.        SECURITIES AND TRADING MARKETS

                  Not applicable.

SECTION 4.        MATTERS RELATED TO ACCOUNTANTS AND FINANCIAL STATEMENTS

                  Not applicable.

SECTION 5.        CORPORATE GOVERNANCE AND MANAGEMENT

                  Not applicable.

SECTION 6.        ASSET-BACKED SECURITIES

                  Not applicable.

SECTION 7.        REGULATION FD

                  Not applicable.

SECTION 8.        OTHER EVENTS

         ITEM 8.01        OTHER EVENTS

                          99.1     Distribution to holders of the PreferredPLUS
                                   Trust Certificates Series GEC-1 on
                                   September 15, 2006.

                                   For information with respect to the
                          underlying securities held by PREFERREDPLUS Trust
                          Series GEC-1, please refer to General Electric Capital
                          Corporation (Commission file number 001-06461)
                          periodic reports, including annual reports on Form
                          10-K, quarterly reports on Form 10-Q and current
                          reports on Form 8-K, and other information on file
                          with the Securities and Exchange Commission (the
                          "SEC"). You can read and copy these reports and other
                          information at the public reference facilities
                          maintained by the SEC at Room 1580, 100 F Street, NE,
                          Washington, D.C. 20549. You may obtain copies of this
                          material for a fee by writing to the SEC's Public
                          Reference Section of the SEC at 100 F Street, NE,
                          Washington, D.C. 20549. You may obtain information
                          about the operation of the Public Reference Room by
                          calling the SEC at 1-800-SEC-0330. You can also access
                          some of this information electronically by means of
                          the SEC's website on the Internet at
                          http://www.sec.gov, which contains reports, proxy and
                          information statements and other information that the
                          underlying securities issuer has filed electronically
                          with the SEC.

                                   Although we have no reason to believe the
                          information concerning the underlying securities or
                          the underlying securities issuer contained in the
                          underlying securities issuer's Exchange Act reports is
                          not reliable, neither the depositor nor the trustee
                          participated in the preparation of such documents or
                          made any due diligence inquiry with respect to the
                          information provided therein. No investigation with
                          respect to the underlying securities issuer
                          (including, without limitation, no investigation as to
                          its financial condition or creditworthiness) or of the
                          underlying securities has been made. You should obtain
                          and evaluate the same information concerning the
                          underlying securities issuer as you would obtain and
                          evaluate if you were investing directly in the
                          underlying securities or in other securities issued by
                          the underlying securities issuer. There can be no
                          assurance that events affecting the underlying
                          securities or the underlying securities issuer have
                          not occurred or have not yet been publicly disclosed
                          which would affect the accuracy or completeness of the
                          publicly available documents described above.
<PAGE>

SECTION 9.        FINANCIAL STATEMENTS AND EXHIBITS

         ITEM 9.01        FINANCIAL STATEMENTS AND EXHIBITS

               (a)        Financial statements of business acquired.

                          None.

               (b)        Pro forma financial information.

                          None.

               (c)        Shell company transactions

                          Not applicable.

               (d)        Exhibits.

                          99.1    Trustee's report in respect of
                                  the September 15, 2006 distribution to holders
                                  of the PreferredPLUS Trust Certificates
                                  Series GEC-1.

<PAGE>

                                   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.


                                       MERRILL LYNCH DEPOSITOR, INC.

Date: 9/26/2006                        By:  /s/ Jason Liddell
                                            -----------------------------------
                                            Name:  Jason Liddell
                                            Title: Vice President

<PAGE>

                                  EXHIBIT INDEX


99.1    Trustee's report in respect of the September 15, 2006 distribution to
        holders of the PreferredPLUS Trust Certificates Series GEC-1.
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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): September 15, 2006

                          MERRILL LYNCH DEPOSITOR, INC.
                 (ON BEHALF OF PREFERREDPLUS TRUST SERIES GEC-1)
             (Exact name of registrant as specified in its charter)

          DELAWARE               001-31520                   13-3891329
      (State or other        (Commission File #)         (I. R. S. Employer
      jurisdiction of                                    Identification No.)
       incorporation)

                WORLD FINANCIAL CENTER,                          10080
                  NEW YORK,  NEW YORK                          (Zip Code)
                 (Address of principal
                  executive offices)
                           --------------------------

       Registrant's telephone number, including area code: (212) 449-1000

                      INFORMATION TO BE INCLUDED IN REPORT

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2.):

[  ]  Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
SECTION 1.        REGISTRANT'S BUSINESS AND OPERATIONS

                  Not applicable.

SECTION 2.        FINANCIAL INFORMATION

                  Not applicable.

SECTION 3.        SECURITIES AND TRADING MARKETS

                  Not applicable.

SECTION 4.        MATTERS RELATED TO ACCOUNTANTS AND FINANCIAL STATEMENTS

                  Not applicable.

SECTION 5.        CORPORATE GOVERNANCE AND MANAGEMENT

                  Not applicable.

SECTION 6.        ASSET-BACKED SECURITIES

                  Not applicable.

SECTION 7.        REGULATION FD

                  Not applicable.

SECTION 8.        OTHER EVENTS

         ITEM 8.01        OTHER EVENTS

                          99.1     Distribution to holders of the PreferredPLUS
                                   Trust Certificates Series GEC-1 on
                                   September 15, 2006.

                                   For information with respect to the
                          underlying securities held by PREFERREDPLUS Trust
                          Series GEC-1, please refer to General Electric Capital
                          Corporation (Commission file number 001-06461)
                          periodic reports, including annual reports on Form
                          10-K, quarterly reports on Form 10-Q and current
                          reports on Form 8-K, and other information on file
                          with the Securities and Exchange Commission (the
                          "SEC"). You can read and copy these reports and other
                          information at the public reference facilities
                          maintained by the SEC at Room 1580, 100 F Street, NE,
                          Washington, D.C. 20549. You may obtain copies of this
                          material for a fee by writing to the SEC's Public
                          Reference Section of the SEC at 100 F Street, NE,
                          Washington, D.C. 20549. You may obtain information
                          about the operation of the Public Reference Room by
                          calling the SEC at 1-800-SEC-0330. You can also access
                          some of this information electronically by means of
                          the SEC's website on the Internet at
                          http://www.sec.gov, which contains reports, proxy and
                          information statements and other information that the
                          underlying securities issuer has filed electronically
                          with the SEC.

                                   Although we have no reason to believe the
                          information concerning the underlying securities or
                          the underlying securities issuer contained in the
                          underlying securities issuer's Exchange Act reports is
                          not reliable, neither the depositor nor the trustee
                          participated in the preparation of such documents or
                          made any due diligence inquiry with respect to the
                          information provided therein. No investigation with
                          respect to the underlying securities issuer
                          (including, without limitation, no investigation as to
                          its financial condition or creditworthiness) or of the
                          underlying securities has been made. You should obtain
                          and evaluate the same information concerning the
                          underlying securities issuer as you would obtain and
                          evaluate if you were investing directly in the
                          underlying securities or in other securities issued by
                          the underlying securities issuer. There can be no
                          assurance that events affecting the underlying
                          securities or the underlying securities issuer have
                          not occurred or have not yet been publicly disclosed
                          which would affect the accuracy or completeness of the
                          publicly available documents described above.
SECTION 9.        FINANCIAL STATEMENTS AND EXHIBITS

         ITEM 9.01        FINANCIAL STATEMENTS AND EXHIBITS

               (a)        Financial statements of business acquired.

                          None.

               (b)        Pro forma financial information.

                          None.

               (c)        Shell company transactions

                          Not applicable.

               (d)        Exhibits.

                          99.1    Trustee's report in respect of
                                  the September 15, 2006 distribution to holders
                                  of the PreferredPLUS Trust Certificates
                                  Series GEC-1.
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.

                                       MERRILL LYNCH DEPOSITOR, INC.

Date: 9/26/2006                        By:  /s/ Jason Liddell
                                            -----------------------------------
                                            Name:  Jason Liddell
                                            Title: Vice President
EXHIBIT INDEX

99.1    Trustee's report in respect of the September 15, 2006 distribution to
        holders of the PreferredPLUS Trust Certificates Series GEC-1.