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, 2006

                                      or

   [ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

   For the transition period from ________ to ________

               Commission File Numbers: 333-111858-03, 001-32235

                    Synthetic Fixed-Income Securities, Inc.

                                 on behalf of:

                   STRATS(SM) Trust For Goldman Sachs Group
                          Securities, Series 2004-8
            ------------------------------------------------------
            (Exact name of registrant as specified in its charter)

              Delaware                                  52-2316339
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   (State or other jurisdiction of          (I.R.S. Employer Identification No.)
  incorporation or organization)


 301 South College, Charlotte, North Carolina                28288
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            (Address of principal executive offices)      (Zip Code)

Registrant's telephone number, including area code: (704) 383-7727

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

Title of each class              Name of Registered exchange on which registered
-------------------              -----------------------------------------------

STRATS(SM) Certificates,         New York Stock Exchange ("NYSE")
Series 2004-8

<PAGE>

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

Indicate by check mark if the registrant is a well-known seasoned issuer, as
defined in Rule 405 of the Securities Act.
Yes     [ ]       No      [X]

Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Act.
Yes     [ ]       No      [X]

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
such filing 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.
Not applicable.

Indicate by check mark whether the registrant is large accelerated filer, an
accelerated filer or a non-accelerated filer. See the definition of
"accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange
Act. (check one):
Large accelerated filer [ ]   Accelerated filer [ ]  Non-accelerated filer  [X]

Indicate by check mark whether the registrant is a shell company (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:

The registrant has no voting stock or class of common stock that is held by
non-affiliates.


                      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

Synthetic Fixed-Income Securities, Inc. (the "Depositor") is the Depositor in
respect of the STRATS(SM) Trust For Goldman Sachs Group Securities, Series
2004-8 (the "Trust"), a common law trust formed pursuant to the Base Trust
Agreement, dated as of September 26, 2003, between the Depositor and U.S. Bank
Trust National Association, as trustee (the "Trustee"), as supplemented by the
STRATS(SM) Certificates Series Supplement 2004-8 (the "Series Supplement")
dated as of June 29, 2004 in respect of the Trust. The Trust's assets consist
solely of notes issued by The Goldman Sachs Group, Inc. The Certificates do
not represent obligations of or interests in the Depositor or the Trustee.

Pursuant to staff administrative positions established in Corporate Asset
Backed Corporation (available August 9, 1995), the Trust 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.



                                      2
<PAGE>

The Goldman Sachs Group, Inc., the issuer of the underlying securities, is
subject to the information reporting requirements of the Securities Exchange
Act of 1934, as amended, (the "Exchange Act"). For information on The Goldman
Sachs Group, Inc. please see its periodic and current reports filed with the
Securities and Exchange Commission (the "Commission") under its Exchange Act
file number, 001-14965. 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
system, or "EDGAR." Periodic and current reports and other information
required to be filed pursuant to the Exchange Act by The Goldman Sachs Group,
Inc. may be accessed on this site. Neither Synthetic Fixed-Income Securities,
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 Synthetic Fixed-Income Securities, Inc.
nor the Trustee has verified the accuracy or completeness of such documents or
reports. There can be no assurance that events affecting the issuer of the
underlying securities, or the underlying securities themselves, have not
occurred or have not yet been 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 Certificates representing investors' interest in the Trust 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 NYSE.

Item 6. Selected Financial Data.
-------------------------------

         Not Applicable



                                      3
<PAGE>

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 Stock Matters.
---------------------

         Not Applicable

Item 13. Certain Relationships and Related Transactions.
-------------------------------------------------------

         None

Item 14. Principal Accounting Fees and Services.
-----------------------------------------------

         Not Applicable


                                    PART IV

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

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

                                      4
<PAGE>

               1.   Trustee's Distribution Statements documented on Form 8-K
                    of STRATS(SM) Trust For Goldman Sachs Group Securities,
                    Series 2004-8 to the certificateholders for the period
                    from January 1, 2006 through and including December 31,
                    2006 have been filed with the Securities and Exchange
                    Commission and are hereby incorporated by reference.
                    Filing dates are listed below:


<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                            Trust Description                               Distribution Date          Filed on
----------------------------------------------------------------------------------------------------------------------
<S>                                                                             <C>                   <C>
STRATS(SM) Trust For Goldman Sachs Group Securities, Series 2004-8              01-15-2006            01-25-2006
                                                                                02-15-2006            02-23-2006
                                                                                03-15-2006            03-29-2006
                                                                                04-15-2006            04-28-2006
                                                                                05-15-2006            05-19-2006
                                                                                06-15-2006            06-20-2006
                                                                                07-15-2006            07-21-2006
                                                                                08-15-2006            08-21-2006
                                                                                09-15-2006            09-28-2006
                                                                                10-15-2006            10-23-2006
                                                                                11-15-2006            11-20-2006
                                                                                12-15-2006            12-22-2006

----------------------------------------------------------------------------------------------------------------------
</TABLE>

               2.   None

               3.   Exhibits:

                    31.1 - Certification by Director of the Registrant
                    pursuant to 15 U.S.C. Section 7241, as adopted pursuant to
                    Section 302 of the Sarbanes-Oxley Act of 2002.

                    99.1 - 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.

                    99.2 - Report of Aston Bell & Associates.

                    99.3 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on January 25,
                    2006, as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.4 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on February 23,
                    2006, as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.5 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on March 29, 2006,
                    as further described in Item 15(a)(1) above, is


                                      5
<PAGE>

                    incorporated herein by reference.

                    99.6 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on April 28, 2006,
                    as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.7 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on May 19, 2006, as
                    further described in Item 15(a)(1) above, is incorporated
                    herein by reference.

                    99.8 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on June 20, 2006,
                    as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.9 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on July 21, 2006,
                    as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.10 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on August 21, 2006,
                    as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.11 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on September 28,
                    2006, as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.12 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on October 23,
                    2006, as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.13 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on November 20,
                    2006, as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

                    99.14 - Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on December 22,
                    2006, as further described in Item 15(a)(1) above, is
                    incorporated herein by reference.

         (b) See Item 15(a) above.

         (c) Not Applicable.




                                      6
<PAGE>



                                   SIGNATURE

         Pursuant to the requirements of Section 13 or 15 (d) 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.


                                   Synthetic Fixed-Income Securities, Inc.,
                                   as Depositor for the Trust




                                   By: /s/ Jimmy Whang
                                       -------------------------------------
                                   Name:   Jimmy Whang
                                   Title:  Director


Dated:  March 30, 2007




                                      7
<PAGE>



                                 EXHIBIT INDEX
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------
 Reference Number                                                        Exhibit Number
 per Item 601 of                  Description of Exhibits                    in this
  Regulation SK                                                             Form 10-K
-----------------------------------------------------------------------------------------
<S>                <C>                                                      <C>
                    Certification by Director of the Registrant
                    pursuant to 15 U.S.C. Section 7241, as adopted
      (31.1)        pursuant to Section 302 of the Sarbanes-Oxley Act         31.1
                    of 2002.
-----------------------------------------------------------------------------------------
                    Annual Compliance Report by Trustee pursuant to 15
      (99.1)        U.S.C. Section 7241, as adopted pursuant to               99.1
                    Section 302 of the Sarbanes-Oxley Act of 2002.
-----------------------------------------------------------------------------------------
      (99.2)        Report of Aston Bell, CPA.                                99.2
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on January
      (99.3)        25, 2006, as further described in Item 15(a)(1)           99.3
                    above, is incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on February
      (99.4)        23, 2006, as further described in Item 15(a)(1)           99.4
                    above, is incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on March
      (99.5)        29, 2006, as further described in Item 15(a)(1)           99.5
                    above, is incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on April
      (99.6)        28, 2006, as further described in Item 15(a)(1)           99.6
                    above, is incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with the
                    Securities and Exchange Commission on May 19,
      (99.7)        2006, as further described in Item 15(a)(1) above, is     99.7
                    incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with the
                    Securities and Exchange Commission on June 20,
      (99.8)        2006, as further described in Item 15(a)(1) above, is     99.8
                    incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on July 21,
      (99.9)        2006, as further described in Item 15(a)(1) above,        99.9
                    is incorporated herein by reference.
-----------------------------------------------------------------------------------------
      (99.10)       Registrant's Current Report on Form 8-K filed             99.10
-----------------------------------------------------------------------------------------
</TABLE>

                                      8
<PAGE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------
<S>                <C>                                                      <C>
                    with the Securities and Exchange Commission on August
                    21, 2006, as further described in Item 15(a)(1)
                    above, is incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on
     (99.11)        September 28, 2006, as further described in Item          99.11
                    15(a)(1) above, is incorporated herein by
                    reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on October
     (99.12)        23, 2006, as further described in Item 15(a)(1)           99.12
                    above, is incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on November
     (99.13)        20, 2006, as further described in Item 15(a)(1)           99.13
                    above, is incorporated herein by reference.
-----------------------------------------------------------------------------------------
                    Registrant's Current Report on Form 8-K filed with
                    the Securities and Exchange Commission on December
     (99.14)        22, 2006, as further described in Item 15(a)(1)           99.14
                    above, is incorporated herein by reference.
-----------------------------------------------------------------------------------------
</TABLE>


                                      9