<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): APRIL 17, 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 April 17, 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 April 17, 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:                                    By:    /s/ Stephan Kuppenheimer
                                                -------------------------------
                                         Name:  Stephan Kuppenheimer
                                         Title: President




<PAGE>


                                  EXHIBIT INDEX


99.1     Trustee's report in respect of the April 17, 2006 distribution to
         holders of the PreferredPLUS Trust Certificates Series GRC-1.
[{"type": "8-K", "sequence": "1", "filename": "b412860_8k.txt", "description": "FORM 8-K", "secsgml_size_bytes": 7542}]
{"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": "06798254"}, "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): APRIL 17, 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 April 17, 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 April 17, 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:                                    By:    /s/ Stephan Kuppenheimer
                                                -------------------------------
                                         Name:  Stephan Kuppenheimer
                                         Title: President
EXHIBIT INDEX

99.1     Trustee's report in respect of the April 17, 2006 distribution to
         holders of the PreferredPLUS Trust Certificates Series GRC-1.