UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                     ----

                                   FORM 10-K

                       FOR ANNUAL AND TRANSITION REPORTS
                    PURSUANT TO SECTIONS 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

(Mark One)

   /X/  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2005

                                      or

   / /  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI-
        TIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

                     Commission File Number: 333-58504-03


                         Bear Stearns Depositor Inc.,
                                 on behalf of:
                Trust Certificates (TRUCs), Series 2001-3 Trust
------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

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<S>                                                                <C>
                          New York                                              13-4164633
-------------------------------------------------------------- ----------------------------------------------
      (State or Other Jurisdiction of Incorporation or             (I.R.S. Employer Identification No.)
                        Organization)



          c/o U.S. Bank Trust National Association
                 100 Wall Street, Suite 1600
                     New York, New York                                           10005
-------------------------------------------------------------- ----------------------------------------------
          (Address of principal executive offices)                             (Zip Code)

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      Registrant's telephone number, including area code: (212)-272-9422


Securities registered pursuant to Section 12(b) of the Act:


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Title of Class                                                          Name of Registered Exchange
--------------                                                          ---------------------------
<S>                                                                   <C>
Trust Certificates (TRUCs), Series 2001-3, Class A-1                  New York Stock Exchange ("NYSE")

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<PAGE>


Securities registered pursuant to Section 12(g) of the Act:   None.

Indicate by check mark whether the registrant: (1) Has filed all reports
required to be filed by section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
file requirements for the past 90 days.
Yes /X/       No / /

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. /X/

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act).
Yes / /       No /X/

State the aggregate market value of the voting and non-voting common equity
held by non-affiliates computed by reference to the price at which the common
equity was last sold, or the average bid and asked price of such common
equity, as of the last business day of the registrant's most recently
completed second fiscal quarter:
NOT APPLICABLE.

The Registrant has no voting stock or class of common stock outstanding as of
the date of this report.



                      DOCUMENTS INCORPORATED BY REFERENCE

      The following documents are incorporated by reference into Part IV of
this Annual Report: The distribution reports to security holders filed on Form
8-K during the fiscal year, in lieu of reports on Form 10-Q, which include the
reports filed on Form 8-K listed in Item 15(a) hereto.



                               Introductory Note

      The registrant is the depositor under the trust agreement for the TRUCs
Certificates referenced above which are listed on the New York Stock Exchange.
The certificates represent interests only in the Trust Certificates (TRUCs),
Series 2001-3 Trust and do not represent obligations of or interests in the
depositor. The Underlying Securities for the trust are $43,815,000 principal
amount of BellSouth Telecommunications, Inc. 7.00% Debentures due 2095.
Pursuant to staff administrative positions established in Corporate Asset
Backed Corporation (available August 9, 1995), registrant is not required to
respond to various items of Form 10-K. Such items are designated herein as
"Not Applicable." Distribution reports detailing receipts and distributions by
the trust are filed after each distribution date on Form 8-K in lieu of
reports on Form 10-Q.

      BellSouth Corporation (the "Underlying Securities Guarantor") is subject
to the information reporting requirements of the Securities Exchange Act of
1934 (the "Exchange Act"). For information on the Underlying Securities
Guarantor, refer to the current and periodic reports required to be filed
pursuant to the Exchange Act by the Underlying Securities Guarantor under its
Exchange Act file number, 1-8607. The Securities and Exchange Commission (the
"Commission") maintains a site on the World Wide Web at "http://www.sec.gov"
at which users can view and download copies of reports, proxy and information
statements and other information filed electronically through the Electronic
Data Gathering, Analysis and Retrieval (EDGAR) system. Periodic and current
reports and other information required to be filed pursuant to the Exchange
Act by the Underlying Securities Guarantor may be accessed on this site.
Neither Bear Stearns Depositor Inc. nor the Trustee has participated in the
preparation of such reporting documents, or made any due diligence
investigation with respect to the information provided therein. Neither Bear
Stearns Depositor Inc. nor the Trustee has verified the accuracy or
completeness of such documents or reports. There can be no assurance that
events affecting BellSouth Telecommunications, Inc., the Underlying Securities
Guarantor or the Underlying Securities have not occurred or have not yet been


                                      2
<PAGE>


publicly disclosed which would affect the accuracy or completeness of the
publicly available documents described above.

                                    PART I

Item 1.  Business.
-----------------
         Not Applicable

Item 1A. Risk Factors.
----------------------
         Not Applicable

Item 1B. Unresolved Staff Comments.
-----------------------------------
         Not Applicable

Item 2.  Properties.
-------------------
         Not Applicable

Item 3.  Legal Proceedings.
--------------------------
         None

Item 4.  Submission of Matters to a Vote of Security Holders.
-------------------------------------------------------------
         None

                                    PART II

Item 5.  Market for Registrant's Common Equity, Related Stockholder
-------------------------------------------------------------------
         Matters and Issuer Purchases of Equity Securities.
         --------------------------------------------------
         The Trust Certificates (TRUCs), Series 2001-3, Class A-1
         certificates are represented by one or more physical certificates
         registered in the name of "Cede & Co.", the nominee of The
         Depository Trust Company. The certificates are listed on the New
         York Stock Exchange.

Item 6.  Selected Financial Data.
---------------------------------
         Not Applicable

Item 7.  Management's Discussion and Analysis of Financial
----------------------------------------------------------
         Condition and Results of Operations.
         ------------------------------------
         Not Applicable

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
--------------------------------------------------------------------
         Not Applicable

Item 8.  Financial Statements and Supplementary Data.
-----------------------------------------------------
         Not Applicable

Item 9.  Changes in and Disagreements With Accountants on
---------------------------------------------------------
         Accounting and Financial Disclosure.
         ------------------------------------
         None

Item 9A. Controls and Procedures.
---------------------------------
         Not Applicable

Item 9B. Other Information.
---------------------------
         None

                                   PART III

Item 10. Directors and Executive Officers of the Registrant.
------------------------------------------------------------
         Not Applicable

Item 11. Executive Compensation.
--------------------------------
         Not Applicable

Item 12. Security Ownership of Certain Beneficial Owners and
------------------------------------------------------------
         Management and Related Stockholder Matters.
         -------------------------------------------
         None

Item 13. Certain Relationships and Related Transactions.
--------------------------------------------------------
         None


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<PAGE>


Item 14. Principal Accounting Fees and Services.
------------------------------------------------
         None

                                    PART IV

Item 15. Exhibits, Financial Statement Schedules.
-------------------------------------------------

         (a)   The following documents have been filed as part of this report.

               1.    Trustee's Distribution Statements documented on Form
                     8-K regarding the distributions from the Trust
                     Certificates (TRUCs), Series 2001-3 Trust to the
                     certificateholders for the period from January 1, 2005
                     through and including December 31, 2005 have been
                     filed with the Securities and Exchange Commission and
                     are hereby incorporated by reference. Filing dates are
                     listed below:

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         ------------------------------------ ------------------------------------- ---------------------------------
         <S>                                  <C>                                   <C>
         Date of Report                       Event                                 Date Filed
         ------------------------------------ ------------------------------------- ---------------------------------
         June 1, 2005                         Distribution Date                     June 15, 2005
         ------------------------------------ ------------------------------------- ---------------------------------
         December 1, 2005                     Distribution Date                     December 13, 2005
         ------------------------------------ ------------------------------------- ---------------------------------

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               2.    None.

               3.    Exhibits:

                     99.1 - Certification by Chief Executive
                     Officer/President of the registrant pursuant to 15
                     U.S.C. Section 7241, as adopted pursuant to Section
                     302 of the Sarbanes-Oxley Act of 2002.

                     99.2 - Annual Compliance Report by Trustee pursuant to
                     15 U.S.C. Section 7241, as adopted pursuant to Section
                     302 of the Sarbanes-Oxley Act of 2002.

                     99.3 - Registrant's Current Report on Form 8-K filed
                     with the Securities and Exchange Commission on June
                     15, 2005, as further described in Item 15(a)(i) above,
                     is incorporated herein by reference.

                     99.4 - Registrant's Current Report on Form 8-K filed
                     with the Securities and Exchange Commission on
                     December 13, 2005, as further described in Item
                     15(a)(i) above, is incorporated herein by reference.

         (b)   See Item 15 (a) above.

         (c)   Not Applicable.


                                      4
<PAGE>


                                   SIGNATURE

      Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.

                        Bear Stearns Depositor Inc., acting on behalf of Trust
                        Certificates (TRUCs), Series 2001-3 Trust


                        By: /s/ Craig M. Overlander
                        ----------------------------------------
                        Name: Craig M. Overlander
                        Title: Chief Executive Officer/President
                        Date: March 30, 2006



                                      5
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                                      EXHIBIT INDEX

------------------- ---------------------------------------------------- ----------------
 Reference Number                                                         Exhibit Number
 per Item 601 of                  Description of Exhibits                    in this
  Regulation SK                                                             Form 10-K
------------------- ---------------------------------------------------- ----------------
      <S>           <C>                                                       <C>
                    Certification by Chief Executive Officer/President
                    of the registrant pursuant to 15 U.S.C. Section
      (99.1)        7241, as adopted pursuant to Section 302 of the           99.1
                    Sarbanes-Oxley Act of 2002.
------------------- ---------------------------------------------------- ----------------
                    Annual Compliance Report by Trustee pursuant to 15
      (99.2)        U.S.C. Section 7241, as adopted pursuant to               99.2
                    Section 302 of the Sarbanes-Oxley Act of 2002.
------------------- ---------------------------------------------------- ----------------
                    Registrant's Current Report on Form 8-K filed with the
                    Securities and Exchange Commission on June 15,
      (99.3)        2005, as further described in Item 15(a)(1) above,        99.3
                    is incorporated herein by reference.
------------------- ---------------------------------------------------- ----------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on December
      (99.4)        13, 2005, as further described in Item 15(a)(1)           99.4
                    above, is incorporated herein by reference.
------------------- ---------------------------------------------------- ----------------

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