Deutsche Bank AG
Taunusanlage 12, D-60325
Frankfurt am Main
Federal Republic of Germany



Jeffrey A. Ruiz
Vice President
Telephone: (212) 250-3667


                                                           April 11, 2005


Securities and Exchange Commission
SEC Document Control
450 Fifth Street, N.W.
Washington, DC  20549
Attn:  Filing Desk


Dear Sir or Madame:

         Re:  Filing of Schedule 13G - Equity Residential


Pursuant to Rule 13d-1 of the Securities Exchange Act of 1934, attached is one
copy of Schedule 13G with respect to the common stock of the above referenced
corporation.

Please acknowledge your receipt of the Schedule 13G by return e-mail
confirmation.

                                                     Sincerely,



                                                     Jeffrey A. Ruiz








Enclosures





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

                                  SCHEDULE 13G

                                (Amendment No.1)

                    Under the Securities Exchange Act of 1934

                               Equity Residential
                     ---------------------------------------
                                 NAME OF ISSUER:


                         Common Stock ($0.001 Par Value)
                     ---------------------------------------
                          TITLE OF CLASS OF SECURITIES

                                    29476L107
                     ---------------------------------------
                                  CUSIP NUMBER


                                 March 31, 2005
                     ---------------------------------------
             (Date of Event Which Requires Filing of this Statement)


         Check the appropriate box to designate the rule pursuant to which this
         Schedule is filed:

                                            [ X ]  Rule 13d-1(b)

                                            [   ]  Rule 13d-1(c)

                                            [   ]  Rule 13d-1(d)








1. NAME OF REPORTING PERSONS
    S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

         Deutsche Bank AG*

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

         (A) [ ] (B) [ ]

3. SEC USE ONLY

4. CITIZENSHIP OR PLACE OF ORGANIZATION

    Federal Republic of Germany

NUMBER OF         5.       SOLE VOTING POWER
SHARES                     13,641,576
BENEFICIALLY      6.       SHARED VOTING POWER
OWNED BY
EACH              7.       SOLE DISPOSITIVE POWER
REPORTING                  13,650,394
PERSON WITH       8.       SHARED DISPOSITIVE POWER


9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         13,650,394

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
    SHARES [ ]

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

         4.88%

12. TYPE OF REPORTING PERSON

         HC, CO,

     * In accordance with Securities Exchange Act Release No. 39538 (January 12,
     1998), this amended filing reflects the securities beneficially owned by
     the Private Clients and Asset Management business group ("PCAM") of
     Deutsche Bank AG and its subsidiaries and affiliates (collectively,
     "DBAG"). This filing does not reflect securities, if any, beneficially
     owned by any other business group of DBAG. Consistent with Rule 13d-4 under
     the Securities Exchange Act of 1934 ("Act"), this filing shall not be
     construed as an admission that PCAM is, for purposes of Section 13(d) under
     the Act, the beneficial owner of any securities covered by the filing.




Item 1(a).        Name of Issuer:

                  Equity Residential

Item 1(b).        Address of Issuer's Principal Executive Offices:

                  Two North Riverside Plaza, Chicago, IL 60606

Item 2(a).        Name of Person Filing:

                  This statement is filed on behalf of Deutsche Bank AG,
                  ("Reporting Person").

Item 2(b).        Address of Principal Business Office or, if none, Residence:

                           Taunusanlage 12, D-60325
                           Frankfurt am Main
                           Federal Republic of Germany

Item 2(c).        Citizenship:

                  The citizenship of the Reporting Person is set forth on the
                  cover page.

Item 2(d).        Title of Class of Securities:

                  The title of the securities is common stock, $0.001 par value
                  ("Common Stock").

Item 2(e).        CUSIP Number:

                  The CUSIP number of the Common Stock is set forth on the cover
                  page.

Item 3.          If this statement is filed pursuant to Rules
                 13d-1(b), or 13d-2(b) or (c), check whether the person
                 filing is a:

                 (a)  [ ] Broker or dealer registered under section 15 of
                      the Act;

                 (b)  [ ] Bank as defined in section 3(a)(6) of the Act;

                 (c)  [ ]Insurance Company as defined in section 3(a)(19)
                      of the Act;

                 (d)  [ ] Investment Company registered under section 8
                      of the Investment Company Act of 1940;

                 (e)  [ ]An investment adviser in accordance with Rule
                      13d-1(b)(1)(ii)(E);

                 (f)  [ ] An employee benefit plan, or endowment fund in
                      accordance with Rule 13d-1 (b)(1)(ii)(F);

                 (g)  [ ]Parent holding company or control person in
                      accordance with Rule 13d-1 (b)(1)(ii)(G);

                 (h)  [ ] A savings association as defined in section
                      3(b) of the Federal Deposit Insurance Act;

                 (i)  [ ] A church plan that is excluded from the
                      definition of an investment company under section
                      3(c)(14) of the Investment Company Act of 1940;

                 (j)  [ ] Group, in accordance with Rule 13d-1
                      (b)(1)(ii)(J).


Item 4.           Ownership.

           (a) Amount beneficially owned:

                  The Reporting Person owns the amount of the Common Stock as
set forth on the cover page.

           (b) Percent of class:

                  The Reporting Person owns the percentage of the Common Stock
                  as set forth on the cover page.

            (c) Number of shares as to which such person has:

                 (i) sole power to vote or to direct the vote:

                     The Reporting Person has the sole power to vote or
                     direct the vote of the Common Stock as set forth on
                     the cover page.

                (ii) shared power to vote or to direct the vote:

                     The Reporting Person has the shared power to vote or
                     direct the vote of the Common Stock as set forth on
                     the cover page.

               (iii) sole power to dispose or to direct the disposition of:

                     The Reporting Person has the sole power to dispose or
                     direct the disposition of the Common Stock as set
                     forth on the cover page.

               (iv) shared power to dispose or to direct the disposition of:

                     The Reporting Person has the shared power to dispose
                     or direct the disposition of the Common Stock as set
                     forth on the cover page.

Item 5.           Ownership of Five Percent or Less of a Class.

                  If this statement is being filed to report the fact that as of
                  the date hereof the reporting person has ceased to be the
                  beneficial owner of more than five percent of the class of
                  securities, check the following [X].


Item 6.           Ownership of More than Five Percent on Behalf of Another 
                  Person.

                  Not applicable.

Item 7.           Identification and Classification of the Subsidiary Which
                  Acquired the Security Being Reported on by the Parent Holding
                  Company.


                  Not applicable


Item 8.           Identification and Classification of Members of the Group.

                  Not applicable.

Item 9.           Notice of Dissolution of Group.

                  Not applicable.

Item 10. Certification.

By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are held in the ordinary course
of business and were not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.






                                               SIGNATURE

                  After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.

Dated: 4/11/05

                                                     DEUTSCHE BANK AG


                                                     By: /s/ Jeffrey A. Ruiz
                                                     Name: Jeffrey A. Ruiz
                                                     Title: Vice President

                                                     By: /s/ Pasquale Antolino
                                                     Name: Pasquale Antolino
                                                     Title: Associate