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

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) December 27, 2005

Bear Stearns Asset Backed Securities I LLC
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-125422
(Commission
File Number)

20-0842986
(IRS Employer
Identification No.)

383 Madison Avenue, New York, New York
(Address of principal executive offices)

10179
(Zip Code)

Registrant's telephone number, including area code 212-272-2000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K relates to the monthly distribution reported to the holders of Bear Stearns Asset Backed Securities I LLC SACO I Trust 2005-GP1 Mortgage-Backed Notes, Series 2005-GP1, which was made on December 27, 2005.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(Exhibit No. Description)
99.1 Monthly distribution report pursuant to Section 7.04 of the Indenture for the distribution on December 27, 2005.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS SECURITIES ADMINISTRATOR UNDER THE SALES AND SERVICING AGREEMENT ON BEHALF OF BEAR STEARNS ASSET BACKED SECURITIES I LLC, REGISTRANT

By: /s/ Russell Goldenberg
Russell Goldenberg
Group Senior Vice President

Date: January 3, 2006

SACO I TRUST 2005-GP1

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Administrator:

Amanda Hellyer 312.904.6299
amanda.hellyer@abnamro.com

Analyst:

Brian Scheff 714.259.6278
brian.scheff@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary HELOC
Shortfall Summary Report
Bond Interest Reconciliation

Bond Principal Reconciliation

Rating Information
Asset-Backed Facts ~ 15 Month Loan Status Summary Part I

Asset-Backed Facts ~ 15 Month Loan Status Summary Part II
Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary
Realized Loss Detail

Page 2
Page 3
Page 4
Page 5

Page 6

Page 7
Page 8

Page 9
Page 10

Page 11

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

SACO5GP1

SACO5GP1_200512_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

9-Sep-05
26-Sep-05

26-Aug-30

Parties to The Transaction

Depositor: Bear Stearns Asset Backed Securities I LLC

Underwriter: Bear Stearns & Co. Inc./Bear Stearns & Co. Inc.

Master Servicer: ABN AMRO LaSalle Bank N.A.

Rating Agency: Moody's Investors Service, Inc./Fitch Ratings/Standard & Poor's Rating Services

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.etrustee.net

Page 1 of 11

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:

Current Index:
Next Index:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

8.236596%

4.193750%
4.378750%

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

SACO I TRUST 2005-GP1

Mortgage Pass-Through Certificates

Series 2005-GP1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

Bond Payments

Statement Date:

ABN AMRO Acct: 722958.2

939.839264170

40.709119047

0.000000000

899.130145124

3.653886212

4.5587500000%

0.00

0.000000000

4.3737500000%

0.000000000

785778JJ1

A-1

268,323,000.00

10,923,192.95

0.00

241,257,297.93

980,421.71

252,180,490.88

939.839264000

40.709120000

0.000000000

899.130144000

3.653886000

4.5587500000%

0.00

0.000000000

4.3737500000%

0.000000000

785778JK8

A-2

5,000,000.00

203,545.60

0.00

4,495,650.72

18,269.43

4,699,196.32

1000.000000000

0.000000000

1000.000000000

3.985555575

4.6687500000%

0.00

0.000000000

4.4837500000%

0.000000000

785778JL6

M-1

57,778,000.00

0.00

57,778,000.00

230,277.43

57,778,000.00

1000.000000000

0.000000000

1000.000000000

5.283334251

6.1287500000%

0.00

0.000000000

5.9437500000%

0.000000000

785778JM4

M-2

3,632,000.00

0.00

3,632,000.00

19,189.07

3,632,000.00

1000.000000000

0.000000000

1000.000000000

6.394443160

7.3787500000%

0.00

0.000000000

7.1937500000%

0.000000000

785778JN2

B-1

2,595,000.00

0.00

2,595,000.00

16,593.58

2,595,000.00

1000.000000000

0.000000000

1000.000000000

6.394445087

7.3787500000%

0.00

0.000000000

7.1937500000%

0.000000000

785778JP7

B-2

3,460,000.00

0.00

3,460,000.00

22,124.78

3,460,000.00

1000.000000000

0.000000000

1000.000000000

0.000000000

0.00

0.000000000

0.0000000000%

0.000000000

785778JQ5

B-3

1,730,000.00

0.00

1,730,000.00

0.00

1,730,000.00

1000.000000000

0.000000000

1000.000000000

0.000000000

0.00

0.000000000

0.0000000000%

0.000000000

785778JR3

B-4

1,730,000.00

0.00

1,730,000.00

0.00

1,730,000.00

952.473473029

0.000000000

920.313237911

2.757455026

0.00

0.000000000

N/A

0.000000000

785778JT9

345,978,146.90

0.00

318,408,268.62

954,019.18

329,535,007.17

0.000000000

0.00

0.000000000

N/A

0.000000000

785778JU6

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

785778JS1

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSX6882

R-I

0.00

Total P&I Payment

0.00

344,248,000.00

327,804,687.20

13,367,633.73

Total

316,677,948.65

11,126,738.55

0.00

2,240,895.18

Page 2 of 11

Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class

SACO I TRUST 2005-GP1

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Statement Date:

Cash Reconciliation Summary

Current Scheduled Interest

Interest Summary

Deferred Interest (-)
Delinquent Interest (-)

205,770.94

0.00

Less Other Interest Adjustment (-)

0.00

Subtotal

2,261,872.36

Unscheduled Interest:
Prepayment Penalties (+)

0.00

Other Interest Proceeds (+)

0.00

Subtotal

0.00

Fees & Expenses Paid By/To Servicer

Fee Paid To Servicer (-)
Fee Strips Paid by Servicer (- )
Recoup of Prior Advances (-)
Misc. Fees & Expenses (-)

Total Unscheduled Fees & Expenses

Subtotal

Less Fees & Expenses Paid By/To Trust

Trustee Fee (-)
Fee Strips (-)
Misc. Fees (-)

Subtotal

Total Interest Due Certs

Principal Summary

Scheduled Principal:
Scheduled Principal
Delinquent Scheduled Principal

Scheduled Principal

Unscheduled Principal:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds

Total Unscheduled Principal
Remittance Principal
Remittance P&I Due Trust
Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases
Ending Pool

Balance

Count

Events/Cycles

Managed Amortization Period in Effect

Overcollateralization Summary

Factual Information

0.00
0.00
0.00

0.00

2,261,872.36

0.00
0.00
0.00

20,977.18

7,352,992.01

6,771,651.30

14,124,643.31

)

(3,094,904.76

97,000.00

0.00
0.00
0.00

)

(2,997,904.76

11,126,738.55

13,388,610.91

329,535,007.17

5,512

14,124,643.31

-2,997,904.76

0.00

318,408,268.62

5,494

0.00

2,240,895.18

Interest Not Advanced (-)

0.00

2,056,101.42

Overcollateralization Amount
Overcollateralization Deficit

Additional Balances

Overcollateralization Release Amt

Add'l Balance Cont'd Amt

Rapid Amortization Period in Effect

Rapid Amortization Event

Master Servicer Termination
Event of Servicer Termination

Specified Overcollateralization Amt

Add'l Balances

Cum Losses (% Orig Pool)
Cum Losses (% Cur Pool)
Cum Losses 12 Mo. Rolling Avg (% Orig Pool)
Six-Month Rolling Delinquency Rate
3 Largest Outstanding Principal Bal.

Insurance Premium (-)

Insurer Default

)

(20,977.18

0.00
0.00

No
No

Yes

1,730,319.97

0.00

173.07

1,730,146.90

0.00

0.81

1,299,883.56

13,367,633.73

Draw on Insurance Policy

0.00

Draws on Line of Credit

Borrower draws

3,094,904.76

Page 3 of 11

SACO I TRUST 2005-GP1

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Interest Adjustments Summary

Statement Date

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

0.00

Shortfall Allocated to the Bonds:

Excess Allocated to the Bonds:

Other Interest Proceeds Due the Bonds

Yield Maintenance Penalties Due the Bonds

Prepayment Penalties Due the Bonds

Recovered ASER Interest Due the Bonds

Recovered Interest Due the Bonds

Less Total Shortfall Allocated to the Bonds

Total Excess Allocated to the Bonds

0.00

0.00

Total Excess Allocated to the Bonds

0.00

0.00

Aggregate Interest Adjustment Allocated to the Bonds

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Interest Income

0.00

Page 4 of 11

SACO I TRUST 2005-GP1

Class

Payment Date:

Prior Payment:
Next Payment:

Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Bond Interest Reconciliation

Additions

Accrual

Method Days

Statement Date:

Accrued

Certificate

Interest

Prior

Int Carry-Fwd

Shortfall

Prior

Shortfall

Reimbursement

Other

Interest

Proceeds

Other

Interest
Losses

Current

Int Carry-Fwd

Shortfall

Remaining

Int Carry-Fwd

Shortfall

Net Cap Rate

in Effect

Y/N

Distributable

Certificate

Interest

Payment

Amount

Deductions

Outstanding

Deposits from YM

Agreement

Remaining Basis Risk

Carry-Fwd Shortfall

Current Basis Risk

Carry-Fwd Shortfall

0.00

980,421.71

Act/360

0.00

980,421.71

0.00

A-1

0.00

18,269.43

Act/360

0.00

18,269.43

0.00

A-2

0.00

230,277.43

Act/360

0.00

230,277.43

0.00

M-1

0.00

19,189.07

Act/360

0.00

19,189.07

0.00

M-2

0.00

16,593.58

Act/360

0.00

16,593.58

0.00

B-1

0.00

22,124.78

Act/360

0.00

22,124.78

0.00

B-2

0.00

954,019.18

Act/360

0.00

954,019.18

0.00

20,977.18

30/360

0.00

20,977.18

0.00

INS

0.00

2,261,872.36

0.00

(2) Interest Carry-Forward Shortfall is unpaid interest with interest thereon
(3) Basis Risk Carry-Forward Shortfall - difference between LIBOR plus margin and the Net Rate Cap.

Page 5 of 11

(1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest.

SACO I TRUST 2005-GP1

Payment Date:

Prior Payment:
Next Payment:

Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Bond Principal Reconciliation

Credit Support

Original

Current(4)

Statement Date:

Beginning

Class Balance

Unscheduled

Principal
Payment

Extra

Principal

Payment Amt

Prior

Loss

Reimburs.

Rated

Final

Maturity

Class

Current

Losses

Original

Class Balance

Scheduled

Principal
Payment

Ending

Class Balance

Cumulative

Losses

Interest on

Losses

Additions

Losses

3.00
1.00

A-1

8/26/2030

241,257,297.93

0.00

252,180,490.88

268,323,000.00

10,923,192.95

0.00

A-2

8/26/2030

4,495,650.72

0.00

4,699,196.32

5,000,000.00

203,545.60

0.00

M-1

8/26/2030

57,778,000.00

0.00

57,778,000.00

0.00

M-2

8/26/2030

3,632,000.00

0.00

3,632,000.00

0.00

B-1

8/26/2030

2,595,000.00

0.00

2,595,000.00

0.00

B-2

8/26/2030

3,460,000.00

0.00

3,460,000.00

0.00

B-3

8/26/2030

1,730,000.00

0.00

1,730,000.00

0.00

B-4

8/26/2030

1,730,000.00

0.00

1,730,000.00

0.00

8/26/2030

318,408,268.62

0.00

329,535,007.17

345,978,146.90

0.00

8/26/2030

0.00

11,126,738.55

0.00

344,248,000.00

316,677,948.65

327,804,687.20

Page 6 of 11

(1) Extra Principal Amounts: the lessor of (i) the excess, if any, of the overcollateralization Target Amount over the Overcollateralization Amount.

SACO I TRUST 2005-GP1

Payment Date:

Prior Payment:

Next Payment:

Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

A-1

785778JJ1

AAA

Aaa

AAA

A-2

785778JK8

AAA

Aaa

AAA

M-1

785778JL6

AAA

Aa1

AAA

M-2

785778JM4

BBB

Baa3

BBB-

B-1

785778JN2

BBB-

Ba1

BB+

B-2

785778JP7

BB+

Ba2

9/30/05

B-3

785778JQ5

BB-

B-4

785778JR3

B+

785778JT9

Page 7 of 11

NR - Designates that the class was not rated by the rating agency.

(1) Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be understood that this transmission will generally have been provided to LaSalle within 30 days of the
payment date listed on this statement. Because ratings may have changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated on this report, LaSalle recommends that
investors obtain current rating information directly from the rating agency.

SACO I TRUST 2005-GP1

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part I

Distribution

Date

REO

# Balance

Statement Date:

Foreclosure

Delinq 3+ Months

Delinq 2 Months

Delinq 1 Month

Current

# Balance

Delinquency Aging Categories

5.11%

6.13%

0.53%

0.46%

1,398,879

0.44%

0.00%

27-Dec-05

281

19,510,360

1,682,441

5,159

295,816,589

93.90%

92.90%

5.06%

5.52%

1.22%

1.04%

0.45%

1,478,237

0.45%

0.00%

25-Nov-05

279

18,191,455

3,419,540

5,143

306,445,775

93.27%

92.99%

13.18%

13.26%

0.65%

0.69%

0.11%

300,000

0.09%

0.00%

25-Oct-05

745

44,909,629

2,329,887

4,865

291,224,121

86.06%

85.97%

0.12%

0.14%

0.00%

26-Sep-05

486,465

5,781

342,987,450

99.88%

99.86%

Page 8 of 11

SACO I TRUST 2005-GP1

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Distribution

Date

Statement Date:

Current 31 - 60 Days 61 - 90 Days 90 + Days
# Balance # Balance # Balance # Balance

In Foreclosure and Delinquent

In Bankruptcy and Delinquent

In REO and Delinquent

Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Part II

Current

31 - 60 Days

61 - 90 Days

90 + Days

Balance

27-Dec-05

0.00%

0.00% 0.00%

0.00%

25-Nov-05

0.00%

0.00% 0.00%

0.00%

25-Oct-05

0.00%

0.00% 0.00%

0.00%

26-Sep-05

0.00%

0.00% 0.00%

0.00%

Page 9 of 11

SACO I TRUST 2005-GP1

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

Distribution

Date

Ending Pool (1)

Payoffs(2)

Penalties

Appraisal Reduct. (2)

Liquidations (2)

Realized Losses (2)

Remaining Term

Curr Weighted Avg.

# Balance

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Amort

ABN AMRO Acct: 722958.2

Series 2005-GP1

27-Dec-05

5,494

91.14%

318,408,269

92.03%

0.33%

0.03%

0.00%

8.24%

97,000

25-Nov-05

5,514

91.47%

329,535,007

95.25%

3.55%

3.74%

0.00%

188

10.39%

9.82%

203

12,653,867

25-Oct-05

5,653

93.78%

338,763,637

97.91%

2.44%

2.43%

0.00%

196

7.37%

6.87%

141

8,343,554

26-Sep-05

5,788

96.02%

343,473,914

99.28%

1.41%

1.52%

0.00%

197

8.06%

7.56%

5,273,166

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 10 of 11

SACO I TRUST 2005-GP1

Payment Date:
Prior Payment:
Next Payment:
Record Date:

27-Dec-05
27-Dec-05

25-Nov-05

25-Jan-06

23-Dec-05

Mortgage Pass-Through Certificates

Series 2005-GP1

ABN AMRO Acct: 722958.2

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning

Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation
Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Current Total

Cumulative

Page 11 of 11

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

SACO I TRUST 2005-GP1 8-K