<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): OCTOBER 16, 2006

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

          DELAWARE             001-31587                    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 PreferredPLUS Trust
                  Certificates Series GRC-1 on October 16, 2006.

                           For information with respect to the underlying
                  securities held by PreferredPLUS Trust Series GRC-1, please
                  refer to Goodrich Corporation's (Commission file number
                  001-00892) 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.

<PAGE>

                           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 your investment were 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.

                  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 October 16, 2006
                           distribution to holders of the PreferredPLUS Trust
                           Certificates Series GRC-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: October 24, 20006      By: /s/ Jason Liddell
                                 ------------------------------
                             Name: Jason Liddell
                             Title: Vice President




<PAGE>


                                  EXHIBIT INDEX


99.1     Trustee's report in respect of the October 16, 2006 distribution to
         holders of the PreferredPLUS Trust Certificates Series GRC-1.
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{"company-data": {"conformed-name": "MERRILL LYNCH DEPOSITOR INC PREFERREDPLUS TRUST SERIES GRC 1", "cik": "0001214802", "assigned-sic": "6189", "irs-number": "133891329", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31587", "film-number": "061162408"}, "business-address": {"street1": "4 WORLD FINANCIAL CENTER", "street2": "NORTH TOWER 7TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10080", "phone": "2124491000"}}
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): OCTOBER 16, 2006

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

          DELAWARE             001-31587                    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 PreferredPLUS Trust
                  Certificates Series GRC-1 on October 16, 2006.

                           For information with respect to the underlying
                  securities held by PreferredPLUS Trust Series GRC-1, please
                  refer to Goodrich Corporation's (Commission file number
                  001-00892) 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 your investment were 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.

                  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 October 16, 2006
                           distribution to holders of the PreferredPLUS Trust
                           Certificates Series GRC-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: October 24, 20006      By: /s/ Jason Liddell
                                 ------------------------------
                             Name: Jason Liddell
                             Title: Vice President
EXHIBIT INDEX

99.1     Trustee's report in respect of the October 16, 2006 distribution to
         holders of the PreferredPLUS Trust Certificates Series GRC-1.