diff --git a/src/import-export/qif-import/qif-file.scm b/src/import-export/qif-import/qif-file.scm
index 825a329f62..07eb03f343 100644
--- a/src/import-export/qif-import/qif-file.scm
+++ b/src/import-export/qif-import/qif-file.scm
@@ -675,7 +675,8 @@
     ;; list of acceptable formats.
 
     (cond 
-     ((null? formats) 
+     ((or (not formats)
+          (null? formats))
       (errormsg errortype "Data for number or date does not match a known format.")
       (set! retval #f)
       (set! do-parsing #f))