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


                                    FORM 10-K

[X]      Annual  report  pursuant  to  Section  13 or  15(d)  of the Securities
         Exchange Act of 1934 for the fiscal period December 31, 2005

[ ]      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 333-121990-05


                       J.P.MORGAN ACCEPTANCE CORPORATION I
             (Exact name of registrant as specified in its charter)

         Delaware                                           13-3475488
State or other jurisdiction of                          (I.R.S. Employer
incorporation or organization                           Identification No.)

270 Park Avenue
New York, New York                                             10017
(Address of Principal Executive Offices)                     (Zip Code)

       Registrant's telephone number, including area code :(212) 270-8863

                J.P. Morgan Mortgage Acquisition Corp. 2005-FLD1
            Asset Backed Pass-Through Certificates, Series 2005-FLD1
                                (Issuing Entity)

                      J.P. Morgan Acceptance Corporation I
             (Exact name of Depositor as specified in its charter)

                     J.P. Morgan Mortgage Acquisition Corp.
              (Exact name of Sponsor as specified in its charter)

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

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 (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 12-b-2 of the Exchange Act.

Large accelerated filer [ ]   Accelerated filer [ ]   Non-accelerated filer [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Exchange Act Rule 12b-2).    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.

Indicate the number of shares outstanding of each of the registrant's classes of
common stock, as of the latest practicable date.  Not Applicable.

Documents incorporated by reference:  None


<PAGE>

PART I

Item 1.  Business.

         Not Applicable.

Item 1A. Risk Factors.

         Not Applicable.

Item 1B. Unresolved Staff Comments.

         None.

Item 2.  Properties.

         Not Applicable.

Item 3.  Legal Proceedings.

         The   Registrant  knows  of  no  material  pending  legal   proceedings
         involving the trust created under the Pooling and Servicing  Agreement,
         the Trustee,  any Servicer or  the Registrant with respect to the trust
         other  than  routine  litigation   incidental  to  the  duties  of  the
         respective parties.

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.

         Currently,   there   is  no  established   secondary   market  for  the
         Certificates  known  to the  Registrant.  As of December 31, 2005,  the
         number of holders  of each class of offered  certificates  was 65 based
         on records provided by DTC.

Item 6.  Selected Financial Data

         Not Applicable.

Item 7.  Management's Discussion and Analysis of Financial condition and
         Results of Operation.

         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.

         Not Applicable.


                                      -2-

<PAGE>

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.

         Not Applicable.

Item 13. Certain Relationships and Related Transactions.

         No reportable transactions have occurred.

Item 14. Principal Accounting Fees and Services.

         Not Applicable.

PART IV


Item 15. Exhibits, Financial Statement Schedules.

(a) The following documents are filed as part of this report:

    (1)  Financial Statements:

         Not Applicable.

    (2)  Financial Statement Schedules:

         Not Applicable.

    (3)  Exhibits:

         Rule 13a-14(a)/15d-14(a) Certification, filed as 31.1 hereto.

         Annual Independent Accountant's Servicing Report concerning servicing
         activities, filed as Exhibit 99.1 hereto.

         Report of Management as to Compliance with Minimum Servicing Standards,
         filed as Exhibit 99.2 herto.

         Annual Statement as to Compliance, filed as Exhibit 99.3 herto.

         Aggregate Statement of Principal and Interest Distributions to
         Certificateholders as of December 31, 2005, filed as Exhibit 99.4
         hereto.

(b) Exhibits to this report are listed in Item (15)(a)(3)above.

(c) Not Applicable.

                                      -3-
<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.


               By: /s/ Brian Bernard
                    -----------------------------
             Name:  Brian Bernard

            Title:  President
             Date:  March 31, 2006




                                      -4-
<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.

The  registrant  has not sent an annual report or proxy material to its security
holders.  The registrant  will not be sending an annual report or proxy material
to its security holders subsequent to the filing of this form.

                                      -5-
<PAGE>



                                 EXHIBIT INDEX

Exhibit  Description

31.1     Rule 13a-14(a)/15d-14(a) Certification

99.1     Annual Independent Accountant's Servicing Report

99.2     Report of Management as to Compliance with Minimum Servicing Standards

99.3     Annual Statement as to Compliance

99.4     Aggregate Statement of Principal and Interest Distributions to
         Certificateholders as of December 31, 2005



                                      -6-

<page>

                                  Exhibit 31.1
                     Rule 13a-14(a)/15d-14(a) Certification

                      J.P. Morgan Acceptance Corporation I,
                    J.P. Morgan Mortgage Acquisition Corp.,
            Asset-Backed Pass-Through Certificates, Series 2005-FLD1

     I, Brian Bernard, the President of the Depositor, certify that:

1.   I have reviewed  this annual  report on Form 10-K,  and all reports on Form
     8-K  containing  distribution  and  servicing  reports  filed in respect of
     periods included in the year covered by this annual report,  of J.P. Morgan
     Acquisition Corp. 2005-FLD1 (the "Trust");

2.   Based on my knowledge,  the information in these reports, taken as a whole,
     does not contain any untrue statement of a material fact or omit to state a
     material  fact  necessary  to make  the  statements  made,  in light of the
     circumstances  under which such  statements were made, not misleading as of
     the last day of the period covered by this annual report;

3.   Based on my knowledge, the distribution information required to be prepared
     by the  Securities  Administrator  based  upon  the  servicing  information
     required  to be provided by the  Servicer  under the Pooling and  Servicing
     Agreement is included in these reports;

4.   Based on my knowledge and upon the annual compliance statements included in
     the report and required to be delivered to the Securities  Administrator in
     accordance with the terms of the Pooling and Servicing  Agreement and based
     upon the review  required  under the Pooling and Servicing  Agreement,  and
     except  as  disclosed  in  the  report,  the  Servicer  has  fulfilled  its
     obligations under the Pooling and Servicing Agreement; and

5.   The  reports  disclose  all  significant   deficiencies   relating  to  the
     Servicer's  compliance with the minimum servicing  standards based, in each
     case, upon the report provided by an independent public  accountant,  after
     conducting  a review in  compliance  with the  Uniform  Single  Attestation
     Program  for  Mortgage  Bankers  or  similar  standard  as set forth in the
     Pooling and Servicing Agreement, that is included in these reports.

     Capitalized terms used but not defined herein have the meanings ascribed to
them in the  Pooling and  Servicing  Agreement,  dated July 1, 2005,  among J.P.
Morgan Acceptance Corporation I, as depositor,  J.P. Morgan Mortgage Acquisition
Corp., as seller (the "Seller"),  JPMorgan Chase Bank, National Association,  as
securities  administrator  (the  "Securities  Administrator")  and servicer (the
"Servicer"), and U.S. Bank National Association, as trustee (the "Trustee").

By: /s/ Brian Bernard
    -------------------------------------
Name:   Brian Bernard
Title:  President


Dated:  March 31, 2006

                                      -7-

<page>


                                  EXHIBIT 99.1
                Annual Independent Accountant's Servicing Report
                                 --------------

                                                   PricewaterhouseCoopers LLP
                                                   PricewaterhouseCoopers Center
                                                   300 Madison Avenue
                                                   New York NY 10017
                                                   Telephone (646) 471 3000
                                                   Facsimile (813) 286 6000


                         Report of Independent Auditors


To the Board of Directors and Stockholder
of Chase Home Finance LLC:

We have  examined  management's  assertion  about Chase Home Finance  LLC's (the
"Company")  compliance with the minimum  servicing  standards  identified in the
Mortgage Bankers Association of America's Uniform Single Attestation Program for
Mortgage  Bankers  ("USAP")  as of and for the  year  ended  December  31,  2005
included in the accompanying management assertion (See Exhibit I). Management is
responsible for the Company's compliance with those minimum servicing standards.
Our responsibility is to express an opinion on management's  assertion about the
Company's compliance based on our examination.

Our examination was made in accordance with attestation standards established by
the  American  Institute  of  Certified  Public  Accountants  and,  accordingly,
included  examining,  on a test basis,  evidence about the Company's  compliance
with the minimum servicing  standards and performing such other procedures as we
considered  necessary  in the  circumstances.  We believe  that our  examination
provides a reasonable basis for our opinion.  Our examination does not provide a
legal  determination  on the  Company's  compliance  with the minimum  servicing
standards.

In our  opinion,  management's  assertion  that the  Company  complied  with the
aforementioned minimum servicing standards as of and for the year ended December
31, 2005 is fairly stated, in all material respects.


/s/ PricewaterhouseCooper LLP
-----------------------------
March 13, 2006


                                                   PricewaterhouseCoopers LLP
                                                   PricewaterhouseCoopers Center
                                                   300 Madison Avenue
                                                   New York NY 10017
                                                   Telephone (646) 471 3000
                                                   Facsimile (813) 286 6000


                         Report of Independent Auditors


To the Board of Directors and Stockholder
of JPMorgan Chase Bank, National Association:


We have examined  management's  assertion  about JPMorgan  Chase Bank,  National
Association's  (the "Company")  compliance with the minimum servicing  standards
identified  in the Mortgage  Bankers  Association  of America's  Uniform  Single
Attestation  Program  for  Mortgage  Bankers  ("USAP")  solely as they relate to
standard VII, Insurance Policies (the "Applicable Standard"),  as of and for the
year ended December 31,2005 included in the accompanying  management  assertion.
Management is  responsible  for the  Company's  compliance  with the  Applicable
Standard.  Our responsibility is to express an opinion on management's assertion
about the Company's compliance,  solely as it relates to the Applicable Standard
based on our examination. The Company uses subservicing organizations to perform
the servicing  obligations  subject to minimum servicing standards I-VI of USAP.
We did not examine the Company's  compliance  with  standards  I-VI of USAP and,
accordingly, do not express an opinion thereon.

Our examination was made in accordance with attestation standards established by
the  American  Institute  of  Certified  Public  Accountants  and,  accordingly,
included  examining,  on a test basis,  evidence about the Company's  compliance
with  the  Applicable  Standard  and  performing  such  other  procedures  as we
considered  necessary  in the  circumstances.  We believe  that our  examination
provides a reasonable basis for our opinion.  Our examination does not provide a
legal determination  on the  Company's compliance  with the Applicable Standard.

In our  opinion,  management's  assertion  that the  Company  complied  with the
Applicable Standard solely as it relates to standard VII, Insurance Policies, as
of and for the year ended  December  31,2005 is fairly  stated,  in all material
respects.


/s/ PricewaterhouseCoopers LLP.
----------------------------------------
March 13, 2006


                                      -8-
<page>

                                  EXHIBIT 99.2
     Report of Management as to Compliance with Minimum Servicing Standards
                              -------------------


                                                           Exhibit I


                  Mangement's Assertion Concerning Compliance
                     with USAP Minimum Servicing Standards


March 13, 2006

As of and for the year ended  December  31,  2005,  Chase Home  Finance LLC (the
"Company")  has complied in all  material  respects  with the minimum  servicing
standards (the  "Standards")  set forth in the Mortgage  Bankers  Association of
America's  Uniform Single  Attestation  Program for Mortgage  Bankers  ("USAP").
These Standards are applicable only to the Company's prime and subprime mortgage
portfolios.

As of and for this same  period,  the  Company had in effect  fidelity  bond and
errors and omissions  policies in the amounts of  $250,000,000  and  $25,000,000
respectively.



    /s/ Kim Greaves                             /s/ Jim Miller
   --------------------------                  --------------------------
   Kim Greaves                                 Jim Miller
   Senior Vice President                       Senior Vice President
   Chase Home Finance LLC                      Chase Home Finance LLC


   /s/ Scott Powell
   -------------------------
   Scott Powell
   CEO
   Chase Home Finance LLC




                                      CHASE

                  Management's Assertion Concerning Compliance
                      with USAP Minimum Servicing Standards

March 13, 2006

As of and for the year ended December 31, 2005,  JPMorgan  Chase Bank,  National
Association  (the  "Company")  has  complied in all material  respects  with the
minimum  servicing  standards set forth in the Mortgage  Bankers  Association of
America's  Uniform  Single  Attestation  Program for Mortgage  Bankers  ("USAP")
solely as they relate to  standard  VII,  Insurance  Policies  (the  "Applicable
Standard"). The Company uses subservicing organizations to perform the servicing
obligations subject to minimum servicing standards I-VI of USAP.

As of and for this same  period,  the  Company had in effect  fidelity  bond and
errors and omissions  policies in the amounts of  $250,000,000  and  $25,000,000
respectively.

Attached to this Management  Assertion are the independent  auditors' reports on
the subservicing  organizations' compliance with the minimum servicing standards
related to the servicing obligations performed.


/s/ Kim Greaves                            /s/ Jim Miller
------------------------------             ---------------------------------
Kim Greaves                                Jim Miller
Vice President                             Vice President
JPMorgan Chase Bank, N.A.                  JPMorgan Chase Bank, N.A.


/s/ Scott Powell
------------------------------
Scott Powell
Senior Vice President
JPMorgan Chase Bank, N.A.

                                      -9-
<page>


                                  EXHIBIT 99.3
                       Annual Statement as to Compliance
                                 --------------


                         ANNUAL STATEMENT OF COMPLIANCE


Pursuant to the servicing  agreement,  the undersigned  Officer,  to the best of
his/her knowledge, hereby certifies to the following:

I have reviewed the activities and  performance of the Servicer and,  during the
preceding  fiscal  year  under  the  terms  of the  Servicing  Agreement,  Trust
Agreement,  Pooling and Servicing Agreement and/or  Seller/Servicer Guide and to
the best of the Officer's knowledge,  the Servicer has fulfilled all its duties,
responsibilities or obligations under these Agreements throughout such year.

   a)   All property inspections have been completed.

   b)   Compliance relative to Adjustable Rate Mortgages has been met.

   c)   Compliance  with  IRS  Foreclosure  reporting regulations enacted as IRS
        Section 6060J by  the Deficit  Reduction Act,  regarding Acquired and/or
        Abandonment property have been completed.

   d)   All  loans  serviced  in states that  have statutes requiring payment of
        interest on escrow/impound accounts have been completed.

   e)   That such Officer has  confirmed that the  Fidelity bond, the Errors and
        Omissions Insurance Policy and  any other bonds required under the terms
        of the Servicing Agreement are in full force and effect.

   f)   Enclosed is a copy of our most recent independent audit statement.



CERTIFIED BY: /s/ Kim Greaves                   Date: 3/13/06
             ------------------------
              Kim Greaves
              Vice President


              /s/ Jim Miller                    Date: 3/13/06
             ------------------------
              Jim Miller
              Senior Vice President

JPMMT Securities

Investor#   Agreement Name                                       Agreement Date
---------   -------------------------------------------------    --------------

32E      J.P. Morgan Mortgage Trust Pass-thru Cert 2004-S1       1/1/04
32J      J.P. Morgan Mortgage Trust 2004-S1                      8/1/04
601      JPMMAC 2005-FLD1                                        7/29/05
613      JPMMAC 2006-WMC1                                        10/27/05


                                      -10-
<PAGE>

                                  EXHIBIT 99.4
         Aggregate Statement of Principal and Interest Distributions to
                   Certificateholders as of December 31, 2005
                                 --------------

<table>

       <c>       <c>

---------------------------------------------------------------------------------------------------------------------------------
 CUSIP          ORIGINAL              PAID                PAID               TOTAL PAID          ENDING PRIN     CERT POOL FACTOR
                PRINCIPAL            PRINCIPAL           INTEREST                                  BALANCE           (Per 1000)
---------------------------------------------------------------------------------------------------------------------------------
46626LAQ3   $ 493,039,000.00      $118,329,386.07     $ 8,694,047.07     $ 127,023,433.14   $  374,709,613.93       759.99994712
46626LAR1     313,609,000.00                    -       6,421,830.30         6,421,830.30      313,609,000.00     1,000.00000000
46626LAS9       6,749,000.00                    -         141,809.37           141,809.37        6,749,000.00     1,000.00000000
46626LAT7      41,494,000.00                    -         890,021.80           890,021.80       41,494,000.00     1,000.00000000
46626LAU4      38,303,000.00                    -         827,162.60           827,162.60       38,303,000.00     1,000.00000000
46626LAV2      22,875,000.00                    -         497,327.12           497,327.12       22,875,000.00     1,000.00000000
46626LAW0      20,747,000.00                    -         464,173.06           464,173.06       20,747,000.00     1,000.00000000
46626LAX8      18,087,000.00                    -         407,298.52           407,298.52       18,087,000.00     1,000.00000000
46626LAY6      18,087,000.00                    -         410,815.44           410,815.44       18,087,000.00     1,000.00000000
46626LAZ3      15,427,000.00                    -         386,394.38           386,394.38       15,427,000.00     1,000.00000000
46626LBA7      15,427,000.00                    -         401,392.86           401,392.86       15,427,000.00     1,000.00000000
46626LBB5      12,768,000.00                    -         360,138.73           360,138.73       12,768,000.00     1,000.00000000
46626LBC3      11,704,000.00                    -         395,555.77           395,555.77       11,704,000.00     1,000.00000000
U48118AB6               0.01                    -                  -                    -                0.01     1,000.00000000
N/C120559             100.00                    -       1,793,936.73         1,793,936.73              100.00     1,000.00000000
N/C120560                  -                    -                  -                    -                   -     1,000.00000000
N/C120561   1,063,959,855.98                    -      13,107,429.72        13,107,429.72    1,063,959,855.98     1,000.00000000
---------------------------------------------------------------------------------------------------------------------------------

</TABLE>


                                      -11-