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|  REGISTRATION          STATEMENT PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934**** **OR****X** ANNUAL          REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE SECURITIES EXCHANGE          ACT OF 1934 ****
For          the fiscal year ended:
 **December        31, 2004** Commission        File Number:  **1-7274**
**Bell Canada***(Exact name of Registrant as specified in its charter)*

**Canada***(Jurisdiction of incorporation or organization)*

**4813***(Primary Standard Industrial Classification Code Number    (if applicable))*

**98-0181584***(I.R.S. Employer Identification Number (if applicable))*

**1000 rue de La Gauchetière    Ouest, Bureau 3700, Montreal, Quebec, Canada H3B 4Y7, (514) 397-7000***(Address and telephone number of Registrant’s principal executive    offices)*

**CT Corporation System,    111 Eighth Avenue, 13th Floor, New York, N.Y. 10011, (212) 894-8940***(Name, address (including zip code) and telephone number (including    area code)    of agents for service in the United States)*

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

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

Securities for which there    is a reporting obligation pursuant to Section 15(d) of the Act:**Title of each class    7****.75% Debentures,    Series EL, Due 2006    9.50% Debentures, Series ES, Due 2010**

For annual    reports, indicate by check mark the information filed with this Form
**X**Annual        information form**X**Audited          annual financial statements
Indicate    the number of outstanding shares of each of the issuer’s classes of capital    or common stock as of the close of the period covered by the annual report.
**At          December 31, 2004, 355,346,988 common shares and          44,000,000 Class A Preferred Shares were issued and outstanding**
 Indicate    by check mark whether the Registrant by filing the information contained in    this Form is also thereby furnishing the information to the Commission pursuant    to Rule 12g3-2(b) under the Securities Exchange Act of 1934 (the “Exchange    Act”). If “Yes” is marked, indicate the file number assigned    to the Registrant in connection with such Rule.
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 Exchange Act 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: 
 

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**PRIOR  FILINGS MODIFIED AND SUPERSEDED**

        Bell  Canada’s annual report on Form 40-F for the year ended December 31, 2004,  at the time of filing with the U.S. Securities and Exchange Commission (the  “SEC” or “Commission”), modifies and supersedes all prior  documents filed pursuant to Sections 13, 14 and 15(d) of the Exchange Act for  purposes of any offers or sales of any securities after the date of such filing  pursuant to any registration statement or prospectus filed pursuant to the Securities  Act of 1933 which incorporates by reference such annual report on Form 40-F.  Other than Bell Canada’s Annual Information Form for the year ended December  31, 2004 (the “AIF”) included herein, and Bell Canada’s annual  audited consolidated financial statements for the year ended December 31, 2004  and related management’s discussion and analysis of financial condition  and results of operations, incorporated by reference herein, no other information  from the Exhibits attached hereto is to be incorporated by reference in a registration  statement or prospectus filed pursuant to the Securities Act of 1933.

**ANNUAL AUDITED CONSOLIDATED    FINANCIAL STATEMENTS AND****MANAGEMENT’S DISCUSSION AND ANALYSIS**

**A.     Annual  Audited Consolidated Financial Statements**

        For  Bell Canada’s annual audited consolidated financial statements for the  year ended December 31, 2004 (the “Financial Statements”), including  the auditor’s report with respect thereto, see pages 35 to 72 and part  of page 35, respectively, of the Bell Canada 2004 Financial Information attached  hereto as Exhibit 99.1, which pages are incorporated herein by reference.

        The  above referenced auditor’s report is expressed in accordance with standards  of reporting generally accepted in Canada which do not require a reference to  changes in accounting principles in the auditor’s report when the changes  are properly accounted for and adequately disclosed in the financial statements.  In the United States, reporting standards for auditors require the addition  of an explanatory paragraph (following the opinion paragraph) when there are  changes in accounting principles that have a material effect on the comparability  of the financial statements, such as the changes described in Note 1 to the  Financial Statements, or when there is a retroactive restatement such as described  in Note 1 to the Financial Statements.

**B.     Management’s  Discussion and Analysis**

        For  management’s discussion and analysis of financial condition and results  of operations, see pages 2 to 34 of the Bell Canada 2004 Financial Information  attached hereto as Exhibit 99.1, which pages are incorporated herein by reference.

**EVALUATION  OF DISCLOSURE CONTROLS AND PROCEDURES**
        As  of the end of the period covered by this annual report on Form 40-F, an evaluation  was carried out by Bell Canada’s management, under the supervision, and  with the participation, of Bell Canada’s Chief Executive Officer (the “CEO”)  and Chief Financial Officer (the “CFO”), of the effectiveness of Bell  Canada’s disclosure controls and procedures (as defined in Exchange Act  Rules 13a-15(e) and 15d-15(e)). Based on that evaluation, the CEO and CFO concluded  that such disclosure controls and procedures were adequate and effective and  designed to ensure that material information relating to Bell Canada and its  consolidated subsidiaries would be made known to them by others within those  entities.
**CHANGES  IN INTERNAL CONTROL OVER FINANCIAL REPORTING**

        During  the year ended December 31, 2004, there were no changes in Bell Canada’s  internal control over financial reporting that have materially affected, or  are reasonably likely to materially affect, Bell Canada’s internal control  over financial reporting.

**AUDIT  COMMITTEE FINANCIAL EXPERT**

        Bell    Canada's board of directors has determined that the Chairman of the audit    committee, Mr. T.C. O'Neill, qualifies as an "audit committee financial expert"    and that Mr. T.C. O'Neill is independent under the listing standards of the    New York Stock Exchange. 

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**CODE    OF ETHICS**

        All    of Bell Canada’s employees, directors and officers must follow Bell Canada’s    Code of Business Conduct, which provides guidelines for ethical behaviour.    This Code of Business Conduct includes additional guidelines for Bell Canada’s    Chief Executive Officer, Chief Financial Officer, Controller and Treasurer.    Bell Canada will provide to any person without charge, upon request, a copy    of its Code of Business Conduct. Requests must be made in writing and sent    to the Corporate Secretary of Bell Canada at 1000, rue de La Gauchetière    Ouest, Suite 3700, Montréal, Québec H3B 4Y7.

**PRINCIPAL    ACCOUNTANT FEES AND SERVICES**

**Auditor’s    fees**

        The    table below shows the fees that Deloitte & Touche LLP (“Deloitte    & Touche”), Bell Canada’s external auditor, billed to Bell Canada    and its subsidiaries for various services for each year in the past two fiscal    years.
 **2004** 20031**(Can.          $ millions)**Audit          fees**6.3**6.8Audit-related          fees **1.2**0.8Tax          fees**1.0**1.3Other          fees**-**0.5**Total****8.5**9.4
1     Figures    for 2003 have been restated to reclassify translation services from Other    fees to Audit fees so they can be compared to 2004 fees 

*Audit    fees*            These fees include professional    services provided by the external auditor for the review of the interim financial    statements, statutory audits of the annual financial statements, the review    of prospectuses, consulting on financial accounting and reporting standards,    other regulatory audits and filings and translation services. 

*Audit-related    fees*             These fees relate to non-statutory    audits and consulting on prospective financial accounting and reporting standards.

*Tax    fees*

        These    fees include professional services for administering our compliance with our    conflict of interest policy, tax compliance, tax advice, tax planning and    advisory services relating to the preparation of corporate tax, capital tax    and commodity tax returns.

        Since    November 2004, we generally do not engage the external auditor to perform    tax planning and consulting services. 

*Other    fees*             These fees include professional    services provided for the redesign of product introduction and new applications    for account management. This work started in 2002 and was completed in early    2003.

            In 2004, Deloitte & Touche has not been engaged to design any information    system or provide implementation services (IS/IT) or other consulting services    to Bell Canada or its subsidiaries.

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**Auditor    independence policy**

BCE Inc.‘s    auditor independence policy is applicable to all its subsidiaries including    Bell Canada. The policy is a comprehensive policy governing all aspects of    Bell Canada’s relationship with the external auditor, including:
 •
establishing          a process for determining whether various audit and other services provided          by the external auditor affect its independence; 
 •identifying          the services that the external auditor may and may not provide to Bell          Canada and its subsidiaries; •          pre-approving all services to be provided by the external auditor of          Bell Canada and its subsidiaries; and  •establishing          a process outlining procedures (as part of a separate policy) when hiring          current or former personnel of the external auditor in a financial oversight          role to ensure auditor independence is maintained. In            particular, the policy specifies that:  •
the            external auditor cannot be hired to provide any services falling within            the prohibited services category, such as bookkeeping, financial information            system design and implementation and legal services; 
 •for            all audit or non-audit services falling within the permitted services            category (such as prospectus work, due diligence and non-statutory            audits), a request for approval must be submitted to the audit committee            by the Chief Financial Officer prior to engaging the auditors; •specific            permitted services however are pre-approved quarterly by the audit            committee and consequently only require approval by the Chief Financial            Officer prior to engaging the external auditor; and  •at            each regularly scheduled audit committee meeting, a consolidated summary            of all fees paid to the external auditor by service type is presented.            This summary includes a breakout of fees incurred within the pre-approved            amounts.
            In 2004, Bell Canada’s audit committee did not approve any audit-related,    tax or other services pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation    S-X.

**OFF-BALANCE    SHEET ARRANGEMENTS**
            Please see the section entitled "Off-Balance Sheet Arrangements" of Bell Canada's    management's discussion and analysis of financial condition and results of    operations (which is incorporated by reference in Bell Canada’s AIF)    and Notes 9 and 24, entitled “Accounts receivable” and “Guarantees”    respectively, of the Financial Statements, all contained in Bell Canada’s    2004 Financial Information attached hereto as Exhibit 99.1, for a discussion    of off-balance sheet arrangements.
**TABULAR    DISCLOSURE OF CONTRACTUAL OBLIGATIONS**

            Please see the section entitled “Contractual Obligations” of Bell    Canada’s management’s discussion and analysis of financial condition    and results of operations (which is incorporated by reference in Bell Canada’s    AIF), contained in Bell Canada’s 2004 Financial Information attached    hereto as Exhibit 99.1, for a tabular disclosure and discussion of contractual    obligations.

**IDENTIFICATION      OF THE AUDIT COMMITTEE**

              Bell Canada has a separately designated standing audit committee established      in accordance with section 3(a) (58) (A) of the Exchange Act. Bell Canada's      audit committee is comprised of four independent members: Mr. T.C. O'Neill      (Chair), Mr. A. Berard, Mrs. J. Maxwell and Mr. V.L. Young. 

**UNDERTAKING**

              Bell Canada undertakes to make available, in person or by telephone, representatives      to respond to inquiries made by the Commission staff, and to furnish promptly,      when requested to do so by the Commission staff, information relating to:      the securities in relation to which the obligation to file this annual report      on Form 40-F arises; or transactions in said securities.

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**WEB      SITE INFORMATION**

        Notwithstanding      any reference to BCE Inc.‘s and Bell Canada’s websites on the      World Wide Web in the AIF or in the documents attached as Exhibits hereto,      the information contained in BCE Inc.‘s and Bell Canada’s websites      or any other website on the World Wide Web referred to in BCE Inc.‘s      or Bell Canada’s website is not a part of this Form 40-F and, therefore,      is not filed with the Commission.

**STATEMENT      REGARDING FORWARD-LOOKING STATEMENTS**

        Bell      Canada has made in the documents filed as part of this annual report on      Form 40-F, and from time to time may otherwise make, forward-looking statements      and related assumptions concerning its operations, economic performance      and financial matters. Bell Canada is under no duty to update any of these      forward-looking statements or related assumptions. Actual results or events      could differ materially from those set forth in, or implied by, the forward-looking      statements and the related assumptions due to a variety of factors. Reference      is made to the section entitled “About forward-looking statements”      on page 3 of the AIF and to the section entitled “Risks That Could      Affect Our Business” on pages 26 to 33 of the AIF for a discussion      of certain of such factors. Reference is also made to the various risk factors      discussed throughout Bell Canada’s management’s discussion and      analysis of financial condition and results of operations (which is incorporated      by reference in Bell Canada’s AIF), contained in Bell Canada’s      2004 Financial Information attached hereto as Exhibit 99.1. |
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