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 1, 2005

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

            DELAWARE             001-16669                    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

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.   [RESERVED]

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 CZN-1 on April 1, 2005.

                            For information with respect to the underlying
                       securities held by PreferredPLUS Trust Series CZN-1,
                       please refer to Citizens Communications Company's
                       (Commission file number 001-11001) 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 1024, 450 Fifth
                       Street, NW, 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 450 Fifth Street, NW,
                       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) Exhibits.

                      99.1  Trustee's report in respect of the April 1, 2005
                            distribution to holders of the PreferredPLUS Trust
                            Certificates Series CZN-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: 4/7/2005                                   By:    /s/ Stephan Kuppenheimer
                                                        ------------------------
                                                 Name:  Stephan Kuppenheimer
                                                 Title: President







                                  EXHIBIT INDEX


99.1 Trustee's report in respect of the April 1, 2005 distribution to holders of
     the PreferredPLUS Trust Certificates Series CZN-1.