UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC 20549
                             --------------------

                                   FORM 10-K
                                 ANNUAL REPORT
                       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 number of Issuing Entity: 333-132375-07

            CWHEQ Revolving Home Equity Loan Trust, Series 2006-G,
         Revolving Home Equity Loan Asset Backed Notes, Series 2006-G
         ------------------------------------------------------------
          (Exact name of Issuing Entity as Specified in Its Charter)

               Commission file number of Depositor: 333-132375

                                  CWHEQ, Inc.
                                  -----------
            (Exact name of Depositor as Specified in Its Charter)

                         Countrywide Home Loans, Inc.
                         ----------------------------
             (Exact name of Sponsor as Specified in Its Charter)

           Delaware                                       87-0698310
--------------------------------               -------------------------------
(State or Other Jurisdiction of                (I.R.S. Employer Identification
Incorporation or Organization of                    No. of the Depositor)
       the Depositor)

c/o   Countrywide Home Loans, Inc.
      4500 Park Granada
      Calabasas, California                               91302
--------------------------------             ------------------------------
(Address of Principal Executive Offices                (Zip Code)
of the Depositor)

Registrant's telephone number, including area code:   (818) 225-3000

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

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

<PAGE>

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

      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 |X| No

      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. |X| Yes |_| No

      Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K (ss.229.405 of this chapter) 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 a large accelerated
filer, an accelerated filer, or a non-accelerated filer. See 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 Exchange Act). |_| Yes |X| No

      The Registrant has no voting or non-voting common equity held by
non-affiliates.


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<PAGE>

                      DOCUMENTS INCORPORATED BY REFERENCE

                                     None.

                                     * * *


      This Annual Report on Form 10-K (the "Report") is filed with respect to
the trust entitled CWHEQ Revolving Home Equity Loan Trust, Series 2006-G (the
"Issuing Entity"), a statutory trust formed under the laws of the State of
Delaware pursuant to the trust agreement dated as of August 25, 2006 (the
"Trust Agreement") between CWHEQ, Inc., as depositor (the "Company"), and
Wilmington Trust Company, as owner trustee, in connection with the issuance of
Revolving Home Equity Loan Asset Backed Notes, Series 2006-G (the "Notes"),
issued pursuant to an indenture, dated August 30, 2006 (the "Indenture"),
between the Issuing Entity and JPMorgan Chase Bank, N.A., as indenture trustee
(the "Trustee"). The assets of the Issuing Entity are comprised of assets sold
to the Issuing Entity pursuant to a sale and servicing agreement, dated August
30, 2006 (the "Sale and Servicing Agreement") among the Company, as depositor,
Countrywide Home Loans, Inc., as sponsor and master servicer (the "Master
Servicer"), the Issuing Entity and the Trustee, as indenture trustee.


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<PAGE>

                                    PART I


Item 1.           Business.

                  Omitted as permitted by Instruction J to Form 10-K.

Item 1A.          Risk Factors.

                  Omitted as permitted by Instruction J to Form 10-K.

Item 1B.          Unresolved Staff Comments.

                  Not Applicable.

Item 2.           Properties.

                  Omitted as permitted by Instruction J to Form 10-K.

Item 3.           Legal Proceedings.

                  Omitted as permitted by Instruction J to Form 10-K.

Item 4.           Submission of Matters to a Vote of Security Holders.

                  Omitted as permitted by Instruction J to Form 10-K.


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<PAGE>

                                    PART II


Item 5.     Market for Registrant's Common Equity, Related Stockholder
            Matters and Issuer Purchases of Equity Securities.

            Omitted as permitted by Instruction J to Form 10-K.

Item 6.     Selected Financial Data.

            Omitted as permitted by Instruction J to Form 10-K.

Item 7.     Management's Discussion and Analysis of Financial Condition and
            Results of Operations.

            Omitted as permitted by Instruction J to Form 10-K.

Item 7A     Quantitative and Qualitative Disclosures about Market Risk.

            Omitted as permitted by Instruction J to Form 10-K.

Item 8.     Financial Statements and Supplementary Data.

            Omitted as permitted by Instruction J to Form 10-K.

Item 9.     Changes in and Disagreements With Accountants on Accounting and
            Financial Disclosure.

            Omitted as permitted by Instruction J to Form 10-K.

Item 9A.    Controls and Procedures.

            Omitted as permitted by Instruction J to Form 10-K.

Item 9B.    Other Information.

            None.


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<PAGE>

                                   PART III


Item 10.    Directors, Executive Officers and Corporate Governance.

            Omitted as permitted by Instruction J to Form 10-K.

Item 11.    Executive Compensation.

            Omitted as permitted by Instruction J to Form 10-K.

Item 12.    Security Ownership of Certain Beneficial Owners and Management
            and Related Stockholder Matters.

            Omitted as permitted by Instruction J to Form 10-K.

Item 13.    Certain Relationships and Related Transactions, and Director
            Independence.

            Omitted as permitted by Instruction J to Form 10-K.

Item 14.    Principal Accountant Fees and Services.

            Omitted as permitted by Instruction J to Form 10-K.


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<PAGE>

                                    PART IV


Item 15.    Exhibits and Financial Statement Schedules.

            (a)   (1)   Not applicable.

                  (2)   Not applicable.

                  (3)   The required exhibits are as follows:

                        o     Exhibit 3(i): Copy of Company's Certificate of
                              Incorporation (Filed as Exhibit 3.1 to
                              Registration Statement on Form S-3 (File No.
                              333-121378))

                        o     Exhibit 3(ii): Copy of Company's By-laws (Filed
                              as Exhibit 3.2 to Registration Statement on Form
                              S-3 (File No. 333-121378))

                        o     Exhibit 4.1: Sale and Servicing Agreement (Filed
                              as part of the Current Report on Form 8-K filed
                              on September 14, 2006 under the Commission file
                              number of the Issuing Entity)

                        o     Exhibit 4.2: Indenture (Filed as part of the
                              Current Report on Form 8-K filed on September
                              14, 2006 under the Commission file number of the
                              Issuing Entity)

                        o     Exhibit 31(ii): Rule 15d-14(d) Certification

                        o     Exhibit 33.1: Report on Assessment of Compliance
                              With Servicing Criteria for Asset-Backed
                              Securities for Countrywide Financial Corporation

                        o     Exhibit 33.2: Report on Assessment of Compliance
                              With Servicing Criteria for Asset-Backed
                              Securities for Treasury Bank, a division of
                              Countrywide Bank, N.A.

                        o     Exhibit 33.3: Report on Assessment of Compliance
                              With Servicing Criteria for Asset-Backed
                              Securities for JPMorgan Chase Bank, N.A. for the
                              period beginning January 1, 2006 and ending
                              September 30, 2006

                        o     Exhibit 33.4: Report on Assessment of Compliance
                              With Servicing Criteria for Asset-Backed
                              Securities for JPMorgan Chase Bank, N.A. for the
                              period beginning October 1, 2006 and ending
                              December 31, 2006


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<PAGE>

                        o     Exhibit 33.5: Report on Assessment of Compliance
                              With Servicing Criteria for Asset-Backed
                              Securities for The Bank of New York

                        o     Exhibit 34.1: Attestation Report on Assessment
                              of Compliance With Servicing Criteria for
                              Asset-Backed Securities of KPMG LLP on behalf of
                              Countrywide Financial Corporation

                        o     Exhibit 34.2: Attestation Report on Assessment
                              of Compliance With Servicing Criteria for
                              Asset-Backed Securities of KPMG LLP on behalf of
                              Treasury Bank, a division of Countrywide Bank,
                              N.A.

                        o     Exhibit 34.3: Attestation Report on Assessment
                              of Compliance With Servicing Criteria for
                              Asset-Backed Securities of
                              PricewaterhouseCoopers LLP on behalf of JPMorgan
                              Chase Bank, N.A. for the period beginning
                              January 1, 2006 and ending September 30, 2006

                        o     Exhibit 34.4: Attestation Report on Assessment
                              of Compliance With Servicing Criteria for
                              Asset-Backed Securities of
                              PricewaterhouseCoopers LLP on behalf of JPMorgan
                              Chase Bank, N.A. for the period beginning
                              October 1, 2006 and ending December 31, 2006

                        o     Exhibit 34.5: Attestation Report on Assessment
                              of Compliance With Servicing Criteria for
                              Asset-Backed Securities of Ernst & Young LLP on
                              behalf of The Bank of New York

                        o     Exhibit 35: Servicer Compliance Statement of the
                              Master Servicer

            (b)   See subparagraph (a)(3) above.

            (c)   Not applicable.


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<PAGE>

                            ADDITIONAL INFORMATION


Item 1112(b) of Regulation AB.      Financial Information of Significant
                                    Obligors.

            Not Applicable.


Item 1114(b)(2) of Regulation AB.   Financial Information of Significant
                                    Enhancement Providers.

            Incorporated herein by reference to the consolidated financial
            statements of MBIA Inc. and subsidiaries as of December 31, 2006
            and December 31, 2005, and for each of the years in the three-year
            period ended December 31, 2006, which are included in the Annual
            Report on Form 10-K of MBIA Inc., which was filed with the
            Securities and Exchange Commission on March 1, 2007 (Securities
            and Exchange Commission File No. 001-09583).


Item 1115(b) of Regulation AB.      Financial Information of Certain Entities
                                    Providing Derivative Instruments.

            Not Applicable.


Item 1117 of Regulation AB.   Legal Proceedings.

            None.


Item 1119 of Regulation AB.        Affiliations and Certain Relationships and
                                   Related Transactions.

            The information required by Item 1119 of Regulation AB was
            previously filed with the U.S. Securities and Exchange Commission
            in the prospectus supplement filed under Rule 424(b) of the
            Securities Act of 1933, as amended, for CWHEQ Revolving Home
            Equity Loan Trust, Series 2006-G.

Item 1122 of Regulation AB.        Compliance with Applicable Servicing
                                   Criteria.

            See Exhibits 33.1, 33.2, 33.3, 33.4, 33.5, 34.1, 34.2, 34.3, 34.4
            and 34.5 to this Form 10-K.

            On October 1, 2006, the sale by JPMorgan Chase Bank, N.A. of
            select portions of its corporate trust business, including
            municipal and corporate and structured finance trusteeships, to
            The Bank of New York was completed. As a result, The Bank of New
            York became the successor Trustee pursuant to the terms of the
            Indenture and the Sale and Servicing Agreement. Accordingly,
            included as Exhibits 33.3 and 34.3 to this Form 10-K are the
            Report on Assessment of Compliance With Servicing Criteria for
            Asset-Backed Securities and the related attestation report,
            respectively, for JPMorgan Chase Bank, N.A. for the period


                                      9
<PAGE>

            beginning January 1, 2006 and ending September 30, 2006. In
            addition, included as Exhibits 33.5 and 34.5 to this Form 10-K are
            the Report on Assessment of Compliance With Servicing Criteria for
            Asset-Backed Securities and the related attestation report,
            respectively, for The Bank of New York.

            Following the completion of the sale by JPMorgan Chase Bank, N.A.
            of select portions of its corporate trust business to The Bank of
            New York, JPMorgan Chase Bank, N.A. continued to provide certain
            servicing functions to the Issuing Entity described in Item
            1122(d)(2)(vii) of Regulation AB. Accordingly, included as
            Exhibits 33.4 and 34.4 to this Form 10-K are the Report on
            Assessment of Compliance With Servicing Criteria for Asset-Backed
            Securities and the related attestation report, respectively, for
            JPMorgan Chase Bank, N.A. with respect to such activities for the
            period beginning October 1, 2006 and ending December 31, 2006.

            The Report on Assessment of Compliance With Servicing Criteria for
            Asset-Backed Securities and the related attestation report for
            JPMorgan Chase Bank, N.A. included as Exhibits 33.3 and 34.3,
            respectively, to this Form 10-K identified the following material
            instances of noncompliance with the applicable servicing criteria:

                  o Item 1122(d)(3)(i): Certain monthly investor reports
                  omitted information required by the transaction agreements
                  and/or contained errors in the information presented.

                  o 1122(d)(3)(ii): Certain monthly investor distributions
                  contained errors as to amounts due to certain investors.

Item 1123 of Regulation AB.      Servicer Compliance Statement.

            See Exhibit 35 to this Form 10-K.


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<PAGE>

                                  SIGNATURES

      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.

                              CWHEQ REVOLVING HOME EQUITY LOAN TRUST, SERIES
                              2006-G

                                    By:   Countrywide Home Loans, Inc.,
                                          as Master Servicer


                                          By:   /s/ Steve Bailey
                                                ------------------------------
                                                Name:  Steve Bailey
                                                Title: Senior Managing
                                                       Director,
                                                       Loan Administration

                                                Date:  March 30, 2007


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<PAGE>

      SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO
SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES
PURSUANT TO SECTION 12 OF THE ACT.

      No annual report, proxy statement, form of proxy or other proxy
soliciting material with respect to the Issuing Entity or the Depositor has
been, or will be, sent to security holders.


                                      12
<PAGE>

                                 EXHIBIT INDEX


Exhibit     Document
-------     --------


3(i)        Company's Certificate of Incorporation (Filed as Exhibit 3.1 to
            Registration Statement on Form S-3
            (File No. 333-121378))*

3(ii)       Company's By-laws (Filed as Exhibit 3.2 to Registration Statement
            on Form S-3 (File No.
            333-121378)*

4.1         Sale and Servicing Agreement (Filed as part of the Current Report
            on Form 8-K filed on September 14, 2006 under the Commission file
            number of the Issuing Entity)*

4.2         Indenture (Filed as part of the Current Report on Form 8-K filed
            on September 14, 2006 under the Commission file number of the
            Issuing Entity)*

31(ii)      Rule 15d-14(d) Certification

33.1        Report on Assessment of Compliance With Servicing
            Criteria for Asset-Backed Securities for Countrywide
            Financial Corporation

33.2        Report on Assessment of Compliance With Servicing Criteria for
            Asset-Backed Securities for Treasury Bank, a division of
            Countrywide Bank, N.A.

33.3        Report on Assessment of Compliance With Servicing
            Criteria for Asset-Backed Securities for JPMorgan
            Chase Bank, N.A. for the period beginning January 1,
            2006 and ending September 30, 2006

33.4        Report on Assessment of Compliance With Servicing
            Criteria for Asset-Backed Securities for JPMorgan
            Chase Bank, N.A. for the period beginning October 1,
            2006 and ending December 31, 2006

33.5        Report on Assessment of Compliance With Servicing
            Criteria for Asset-Backed Securities for The Bank of
            New York

34.1        Attestation Report on Assessment of Compliance With
            Servicing Criteria for Asset-Backed Securities of
            KPMG LLP on behalf of Countrywide Financial
            Corporation

34.2        Attestation Report on Assessment of Compliance With Servicing
            Criteria for Asset-Backed Securities of KPMG LLP on behalf of
            Treasury Bank, a division of Countrywide Bank, N.A.


                                      13
<PAGE>

34.3        Attestation Report on Assessment of Compliance With
            Servicing Criteria for Asset-Backed Securities of
            PricewaterhouseCoopers LLP on behalf of JPMorgan
            Chase Bank, N.A. for the period beginning January 1,
            2006 and ending September 30, 2006

34.4        Attestation Report on Assessment of Compliance With
            Servicing Criteria for Asset-Backed Securities of
            PricewaterhouseCoopers LLP on behalf of JPMorgan
            Chase Bank, N.A. for the period beginning October 1,
            2006 and ending December 31, 2006

34.5        Attestation Report on Assessment of Compliance With
            Servicing Criteria for Asset-Backed Securities of
            Ernst & Young LLP on behalf of The Bank of New York

35          Servicer Compliance Statement of the Master Servicer

--------------

*     Incorporated herein by reference.


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