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 year ended 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 ______

                                   333-110912
                            (Commission File Number)


                         A.I. RECEIVABLES TRANSFER CORP.
             (Exact name of registrant as specified in its charter)


           DELAWARE                                       22-3674608
(State or other jurisdiction                   (IRS Employer Identification No.)
     of incorporation)


101 HUDSON STREET - 33RD AND 34TH FLOORS
          JERSEY CITY, NEW JERSEY                                    07302
(Address of principal executive offices)                          (Zip Code)


Registrant's telephone number, including area code : (201) 631-5400

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 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. [X]

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes [ ] No [X]

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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.

List hereunder the following documents if incorporated by reference and the Part
of the Form 10-K (e.g. Part I, Part II, etc..) into which the document is
incorporated: (1) Any annual report to security holders; (2) Any proxy or
information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or
(c) under the Securities Act of 1933. The listed documents should be clearly
described for identification purposes (e.g. annual report to security holders
for fiscal year ended December 24, 1980).

            Not applicable.

Part I.

Item 1.   Business

           Not applicable.

Item 2.   Properties

           Not applicable.

Item 3.   Legal Proceedings

The Registrant is not aware of any material legal proceeding with respect to the
Trust or the Company, the Servicer or the Trustee, as related to the Trust.

Item 4.     Submission of Matters to Vote of Security Holders

No matter was submitted to a vote or consent of Holders of the offered Notes
during the fiscal year covered by this report.

Part II

Item 5.   Market for Registrant's Common Equity and Related Stockholder Matters

The Trust does not issue stock.


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<PAGE>
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

There was no change of accountants or disagreement with accountants on any
matter of accounting principles or practices of financial disclosure.

Item 9A.  Controls and Procedures

           Not applicable.

Item 9B.  Other Information.

           None.





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<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

            Not Applicable.

Item 13.  Certain Relationships and Transactions

No reportable transactions have occurred.

Item 14.  Principal Accountant Fees and Services.

            Not Applicable.

Part IV

Item 15. Exhibits, Financial Statement Schedules and Reports on Form 8-K

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

                  (1)      Financial Statement:

                           Omitted.

                  (2)      Financial Statement Schedules:

                           Omitted.

                  (3)      Exhibits:

         Certification Pursuant to the Sarbanes-Oxley Act of 2002, filed as
         Exhibit 31.1 Annual Statement as to Compliance, filed as Exhibit 99.1
         hereto. Annual Independent Public Accountants' Report for the Servicer,
         filed as Exhibit 99.2 hereto. Management Assertion, filed as Exhibit
         99.3 hereto.

         The following Current Reports on Form 8-K were filed by the Registrant
         in 2005 and their respective Exhibits are incorporated by reference.


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<PAGE>
                  Current Report on Form 8-K dated February 17, 2005 was filed
                  for the purpose of filing the (i) Form of Amendment to
                  Amendments to Series Supplements and (ii) the Amendment, dated
                  as of February 15, 2005 to Termination Agreement, dated as of
                  November 30, 2004 to the Indemnity Agreement, dated as of
                  October 14, 2000, as amended, between American International
                  Group and JPMorgan Chase Bank, N.A., as successor-in-interest
                  to Bank One, N.A. The items reported in such Current Report
                  were Item 8.01 (Other Events) and Item 9.01 (Financial
                  Statements and Exhibits).

                  Current Report on Form 8-K dated November 3, 2005 was filed
                  for the purpose of filing the (i) Underwriting Agreement,
                  dated November 3, 2005, between A.I. Receivables Transfer
                  Corp., A.I. Credit Corp. (solely with respect to Section 20
                  thereof) and Citigroup Global Markets Inc. and (ii) Series
                  2005-1 Supplement dated as of November 3, 2005, between AICCO
                  Premium Finance Master Trust and JP Morgan Chase Bank,
                  National Association, to the Base Indenture dated as of
                  November 8, 1999. The items reported in such Current Report
                  were Item 8.01 (Other Events) and Item 9.01 (Financial
                  Statements and Exhibits).

                  Current Report on Form 8-K dated December 20, 2005 was filed
                  for the purpose of filing the Monthly Statement sent to the
                  Holders of the Offered Certificates for the payments made on
                  the same date. The item reported in such Current Report was
                  Item 9.01 (Financial Statements and Exhibits).

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






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<PAGE>
     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.


                                      AICCO Premium Finance Master Trust

                                      By: A.I. Credit Corp. (Servicer)


                                      BY: /S/ JEFFREY LESNOY
                                          -----------------------------------
                                          Name: Jeffrey Lesnoy
                                          Title: Senior Vice President


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.





     Date: March 31, 2006
     AICCO Premium Finance Master Trust





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