<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): December 1, 2006

                          MERRILL LYNCH DEPOSITOR, INC.
            (on behalf of PUBLIC STEERS(R) SERIES 1998 TRV-C1 TRUST)
             (Exact name of registrant as specified in its charter)

         Delaware             001-32445                    13-3891329
     (State or other        (Commission                (I. R. S. Employer
     jurisdiction  of        File Number)              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 Public STEERS(R)
                        Series 1998 TRV-C1 Trust Certificates on December 1,
                        2006.

                                 For information with respect to the
                        underlying securities held by Public STEERS(R) Series
                        1998 TRV-C1 Trust, please refer to Citigroup Inc.'s
                        (Commission file number 001-09924) 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
                        guarantor has filed electronically with the SEC.

                                 Although we have no reason to believe the
                        information concerning the underlying securities, the
                        underlying securities issuer, the guarantee or the
                        underlying securities guarantor contained in the
                        underlying securities guarantor'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 or the
                        underlying securities guarantor (including, without
                        limitation, no investigation as to its financial
                        condition or creditworthiness) or of the underlying
                        securities or the guarantee has been made. You should
                        obtain and evaluate the same information concerning the
                        underlying securities issuer and the underlying
                        securities guarantor as you would obtain and evaluate if
                        your investment were directly in the underlying
                        securities, the guarantee or in other securities issued
                        by the underlying securities issuer or underlying
                        securities guarantor. There can be no assurance that
                        events affecting the underlying securities, the
                        guarantee, the underlying securities issuer or the
                        underlying securities guarantor 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.

                        Not applicable.

                  (b)   Pro forma financial information.

                        Not applicable.

                  (c)   Shell company transactions.

                        Not applicable.

                  (d)   Exhibits.

                        99.1     Trustee's report in respect of the December
                                 1, 2006 distribution to holders of the
                                 Public STEERS(R) Series 1998 TRV-C1 Trust
                                 Certificates.


<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: 12/12/06                     By:    /s/ Jason Liddell
                                          --------------------------------------
                                          Name:    Jason Liddell
                                          Title:   Vice-President


<PAGE>

                                  EXHIBIT INDEX


99.1     Trustee's report in respect of the December 1, 2006 distribution to
         holders of the Public STEERS(R) Series 1998 TRV-C1 Trust Certificates.
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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): December 1, 2006

                          MERRILL LYNCH DEPOSITOR, INC.
            (on behalf of PUBLIC STEERS(R) SERIES 1998 TRV-C1 TRUST)
             (Exact name of registrant as specified in its charter)

         Delaware             001-32445                    13-3891329
     (State or other        (Commission                (I. R. S. Employer
     jurisdiction  of        File Number)              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 Public STEERS(R)
                        Series 1998 TRV-C1 Trust Certificates on December 1,
                        2006.

                                 For information with respect to the
                        underlying securities held by Public STEERS(R) Series
                        1998 TRV-C1 Trust, please refer to Citigroup Inc.'s
                        (Commission file number 001-09924) 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
                        guarantor has filed electronically with the SEC.

                                 Although we have no reason to believe the
                        information concerning the underlying securities, the
                        underlying securities issuer, the guarantee or the
                        underlying securities guarantor contained in the
                        underlying securities guarantor'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 or the
                        underlying securities guarantor (including, without
                        limitation, no investigation as to its financial
                        condition or creditworthiness) or of the underlying
                        securities or the guarantee has been made. You should
                        obtain and evaluate the same information concerning the
                        underlying securities issuer and the underlying
                        securities guarantor as you would obtain and evaluate if
                        your investment were directly in the underlying
                        securities, the guarantee or in other securities issued
                        by the underlying securities issuer or underlying
                        securities guarantor. There can be no assurance that
                        events affecting the underlying securities, the
                        guarantee, the underlying securities issuer or the
                        underlying securities guarantor 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.

                        Not applicable.

                  (b)   Pro forma financial information.

                        Not applicable.

                  (c)   Shell company transactions.

                        Not applicable.

                  (d)   Exhibits.

                        99.1     Trustee's report in respect of the December
                                 1, 2006 distribution to holders of the
                                 Public STEERS(R) Series 1998 TRV-C1 Trust
                                 Certificates.
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: 12/12/06                     By:    /s/ Jason Liddell
                                          --------------------------------------
                                          Name:    Jason Liddell
                                          Title:   Vice-President
EXHIBIT INDEX

99.1     Trustee's report in respect of the December 1, 2006 distribution to
         holders of the Public STEERS(R) Series 1998 TRV-C1 Trust Certificates.