INSURED TAXABLE FUND SER 2 DEFINED ASSET FUNDS
S-6, 1999-01-20
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   AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 20, 1999
                                                         REGISTRATION NO. 333-
================================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                   ------------------------------------------

                                    FORM S-6

                   ------------------------------------------

                   FOR REGISTRATION UNDER THE SECURITIES ACT
                    OF 1933 OF SECURITIES OF UNIT INVESTMENT
                        TRUSTS REGISTERED ON FORM N-8B-2

                   ------------------------------------------

A. EXACT NAME OF TRUST:

                              INSURED TAXABLE FUND
                                    SERIES 2
                              DEFINED ASSET FUNDS

B. NAME OF DEPOSITOR:

                   MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
                           SALOMON SMITH BARNEY INC.
                            PAINEWEBBER INCORPORATED
                           DEAN WITTER REYNOLDS INC.

C. COMPLETE ADDRESSES OF DEPOSITORS' PRINCIPAL EXECUTIVE OFFICES:

 MERRILL LYNCH, PIERCE,                           PAINEWEBBER INCORPORATED
        FENNER &                                     1285 AVENUE OF THE
   SMITH INCORPORATED                                     AMERICAS
  UNIT INVESTMENT TRUST                              NEW YORK, NY 10019
        DIVISION
      P.O. BOX 9051
PRINCETON, NJ 08543-9051
                                                  DEAN WITTER REYNOLDS INC.
SALOMON SMITH BARNEY INC.                              TWO WORLD TRADE
 388 GREENWICH STREET                                 CENTER--59TH FLOOR
      23rd Floor                                      NEW YORK, NY 10048
   NEW YORK, NY 10013


D. NAMES AND COMPLETE ADDRESSES OF AGENTS FOR SERVICE:

  TERESA KONCICK, ESQ.                                ROBERT E. HOLLEY
      P.O. BOX 9051                                   1200 HARBOR BLVD.
PRINCETON, NJ 08543-9051                             WEEHAWKEN, NJ 07087


                                COPIES TO:                DOUGLAS LOWE, ESQ.
                          PIERRE DE SAINT PHALLE,     DEAN WITTER REYNOLDS INC.
   LAURIE A. HESSLEIN              ESQ.                    TWO WORLD TRADE
  388 GREENWICH STREET     450 LEXINGTON AVENUE          CENTER--59TH FLOOR
   NEW YORK, NY 10013       NEW YORK, NY 10017          NEW YORK, NY 10048

E. TITLE OF SECURITIES BEING REGISTERED:

  An   indefinite number of Units of Beneficial Interest pursuant to Rule 24f-2
       promulgated under the Investment Company Act of 1940, as amended.

F. APPROXIMATE DATE OF PROPOSED SALE TO PUBLIC:

 As soon as practicable after the effective date of the Registration Statement.

THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES
AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE
A FURTHER AMENDMENT WHICH SPECFICALLY STATES THAT THIS REGISTRATION STATEMENT
SHALL HEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(a) OF THE
SECURITIES ACT OF 1933 OR ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO
SAID SECTION 8(a), MAY DETERMINE.

================================================================================
<PAGE>


                                    PART II
             ADDITIONAL INFORMATION NOT INCLUDED IN THE PROSPECTUS

     A. The following information relating to the Depositors is incorporated by
reference to the SEC filings indicated and made a part of this Registration
Statement.

 I.  Bonding arrangements of each of the Depositors are incorporated by
     reference to Item A of Part II to the Registration Statement on Form S-6
     under the Securities Act of 1933 for Municipal Investment Trust Fund,
     Monthly Payment Series--573 Defined Asset Funds (Reg. No. 333-08241).

 II. The date of organization of each of the Depositors is set forth in Item B
     of Part II to the Registration Statement on Form S-6 under the Securities
     Act of 1933 for Municipal Investment Trust Fund, Monthly Payment
     Series--573 Defined Asset Funds (Reg. No. 333-08241) and is herein
     incorporated by reference thereto.

III. The Charter and By-Laws of each of the Depositors are incorporated herein
     by reference to Exhibits 1.3 through 1.12 to the Registration Statement on
     Form S-6 under the Securities Act of 1933 for Municipal Investment Trust
     Fund, Monthly Payment Series--573 Defined Asset Funds (Reg. No. 333-08241).

IV. Information as to Officers and Directors of the Depositors has been filed
     pursuant to Schedules A and D of Form BD under Rules 15b1-1 and 15b3-1 of
     the Securities Exchange Act of 1934 and is incorporated by reference to the
     SEC filings indicated and made a part of this Registration Statement:

                                                                 SEC FILE OR
                                                              IDENTIFICATION NO.
                                                              ------------------

Merrill Lynch, Pierce, Fenner & Smith Incorporated .......................8-7221
Salomon Smith Barney Inc. ................................................8-8177
PaineWebber Incorporated.................................................8-16267
Dean Witter Reynolds Inc. ...............................................8-14172


     B. The Internal Revenue Service Employer Identification Numbers of the
Sponsors and Trustee are as follows:

Merrill Lynch, Pierce, Fenner & Smith Incorporated ...................13-5674085
Salomon Smith Barney Inc. ............................................13-1912900
PaineWebber Incorporated .............................................13-2638166
Dean Witter Reynolds Inc. ............................................94-0899825
The Chase Manhattan Bank, Trustee ....................................13-4994650

     A final prospectus from the following series of Defined Asset Funds-Insured
Taxable Fund Series (which is incorporated herein by reference) may be used as a
preliminary prospectus for this Series:  Insured Taxable Fund (Reg. No.
333-68827).

                                  UNDERTAKING

The Sponsors undertake that they will not instruct the Trustee to accept from
(i) AMBAC Indemnity Corporation; Financial Guaranty Insurance Company, MBIA
Insurance Corporation or any other insurance company affiliated with any of the
Sponsors, in settlement of any claim, less than an amount sufficient to pay any
principal or interest (and, in the case of a taxability redemption, premium)
then due on any Security in accordance with the municipal bond guaranty
insurance policy attached to such Security or (ii) any affiliate of the Sponsors
who has any obligation with respect to any Security, less than the full amount
due pursuant to the obligation, unless such instructions have been approved by
the Securities and Exchange Commission pursuant to Rule 17d-1 under the
Investment Company Act of 1940.

                                      II-1


<PAGE>



                       CONTENTS OF REGISTRATION STATEMENT

The Registration Statement on Form S-6 comprises the following papers and
documents:

     The facing sheet of Form S-6.

     The Cross-Reference Sheet (incorporated by reference to the Cross-Reference
Sheet to the Registration Statement of Defined Asset Funds Municipal Series,
1933 Act File No. 33-54565).

     The Prospectus.

     Additional Information not included in the Prospectus (Part II).

The following exhibits:

 *1.1     --Form of Trust Indenture.

 1.1.1    --Form of Standard Terms and Conditions of Trust Effective October 21,
          1993 (incorporated by reference to Exhibit 1.1.1 to the Registration
          Statement of Municipal Investment Trust Fund, Multistate Series-48,
          1933 Act File No. 33-50247).

 1.2      --Form of Master Agreement Among Underwriters (incorporated by
          reference to Exhibit 1.2 to the Registration Statement of The
          Corporate Income Fund, One Hundred Ninety-Fourth Monthly Payment
          Series, 1933 Act File No. 2-90925).

 2.1      --Form of Certificate of Beneficial Interest (included in Exhibit
          1.1.1).

 *3.1     --Opinion of counsel as to the legality of the securities being issued
          including their consent to the use of their name under the headings
          'How The Fund Works--'Legal Opinion' in the Prospectus.

 *4.1     --Consent of the Evaluator.

 *5.1     --Consent of independent accountants.

 9.1      --Information Supplement (incorporated by reference to Exhibit 9.1 to
          Amendment No. 4 to the Registration Statement of Municipal Investment
          Trust Fund, Insured Series--207, 1933 Act File No. 33-54037).

- ------------------------------------
*To be filed by amendment.

                                      R-1


<PAGE>

                              DEFINED ASSET FUNDS
                              INSURED TAXABLE FUND
                                    SERIES 2

                                   SIGNATURES

     PURSUANT TO THE REQUIREMENTS OF THE SECURITIES ACT OF 1933, THE REGISTRANT
HAS DULY CAUSED THIS REGISTRATION STATEMENT OR AMENDMENT TO THE REGISTRATION
STATEMENT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED THEREUNTO DULY
AUTHORIZED IN THE CITY OF NEW YORK AND STATE OF NEW YORK ON THE 20TH DAY OF
JANUARY, 1999.

               SIGNATURES APPEAR ON PAGES R-3, R-4, R-5 AND R-6.

     A majority of the members of the Board of Directors of Merrill Lynch,
Pierce, Fenner & Smith Incorporated has signed this Registration Statement or
Amendment to the Registration Statement pursuant to Powers of Attorney
authorizing the person signing this Registration Statement or Amendment to the
Registration Statement to do so on behalf of such members.

     A majority of the members of the Board of Directors of Salomon Smith Barney
Inc. has signed this Registration Statement or Amendment to the Registration
Statement pursuant to Powers of Attorney authorizing the person signing this
Registration Statement or Amendment to the Registration Statement to do so on
behalf of such members.

     A majority of the members of the Executive Committee of the Board of
Directors of PaineWebber Incorporated has signed this Registration Statement or
Amendment to the Registration Statement pursuant to Powers of Attorney
authorizing the person signing this Registration Statement or Amendment to the
Registration Statement to do so on behalf of such members.

     A majority of the members of the Board of Directors of Dean Witter Reynolds
Inc. has signed this Registration Statement or Amendment to the Registration
Statement pursuant to Powers of Attorney authorizing the person signing this
Registration Statement or Amendment to the Registration Statement to do so on
behalf of such members.

                                      R-2


<PAGE>



               MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
                                   DEPOSITOR

By the following persons, who constitute     Powers of Attorney have been filed
  a majority of Merrill Lynch, Pierce,       under Form SE and the following
  Fenner & Smith Incorporated:               1933 Act File Number: 33-43466
                                             and 33-51607

      HERBERT M. ALLISON, JR.
      JOHN L. STEFFENS

By:   ERNEST V. FABIO
      (As authorized signatory for Merrill Lynch, Pierce, Fenner & Smith
      Incorporated and Attorney-in-fact for the persons listed above)

                                      R-3


<PAGE>



                           SALOMON SMITH BARNEY INC.
                                   DEPOSITOR

By the following persons, who constitute a majority of      Powers of Attorney
  the Board of Directors of Salomon Smith Barney Inc.:        have been filed
                                                              under the 1933 Act
                                                              File Numbers:
                                                              333-63417 and
                                                              333-63033

      MICHAEL A. CARPENTER
      DERYCK C. MAUGHAN

      By GINA LEMON
       (As authorized signatory for
       Salomon Smith Barney Inc. and
       Attorney-in-fact for the persons listed above)

                                      R-4


<PAGE>



                            PAINEWEBBER INCORPORATED
                                   DEPOSITOR

By the following persons, who constitute  Powers of Attorney have been filed
  the Board of Directors of PaineWebber     under the following 1933 Act File
                                            Number: 33-55073

      MARGO N. ALEXANDER
      TERRY L. ATKINSON
      BRIAN M. BAREFOOT
      STEVEN P. BAUM
      MICHAEL CULP
      REGINA A. DOLAN
      JOSEPH J. GRANO, JR.
      EDWARD M. KERSCHNER
      JAMES P. MacGILVRAY
      DONALD B. MARRON
      ROBERT H. SILVER
      MARK B. SUTTON

By    ROBERT E. HOLLEY
       (As authorized signatory for
       PaineWebber Incorporated
       and Attorney-in-fact for the persons listed above)

                                      R-5


<PAGE>



                           DEAN WITTER REYNOLDS INC.
                                   DEPOSITOR

By the following persons, who constitute  Powers of Attorney have been filed
  a majority of                             under Form SE and the following 1933
  the Board of Directors of Dean Witter     Act File Numbers: 33-17085 and
  Reynolds Inc.:                            333-13039

      RICHARD M. DeMARTINI
      ROBERT J. DWYER
      CHRISTINE A. EDWARDS
      JAMES F. HIGGINS
      MITCHELL M. MERIN
      STEPHEN R. MILLER
      RICHARD F. POWERS III
      PHILIP J. PURCELL
      THOMAS C. SCHNEIDER
      WILLIAM B. SMITH

By     MICHAEL D. BROWNE
       (As authorized signatory for
       Dean Witter Reynolds Inc.
       and Attorney-in-fact for the persons listed above)

                                      R-6



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