diff --git a/src/components/ReportActionItem/MoneyRequestPreview.js b/src/components/ReportActionItem/MoneyRequestPreview.js
index 1855152ef640..ce1c248962aa 100644
--- a/src/components/ReportActionItem/MoneyRequestPreview.js
+++ b/src/components/ReportActionItem/MoneyRequestPreview.js
@@ -284,7 +284,7 @@ function MoneyRequestPreview(props) {
                                 <Text style={[styles.textLabelSupporting, styles.flex1, styles.lh20, styles.mb1]}>
                                     {getPreviewHeaderText() + (isSettled && !props.iouReport.isCancelledIOU ? ` • ${getSettledMessage()}` : '')}
                                 </Text>
-                                {hasFieldErrors && (
+                                {!isSettled && hasFieldErrors && (
                                     <Icon
                                         src={Expensicons.DotIndicator}
                                         fill={theme.danger}
diff --git a/src/components/ReportActionItem/ReportPreview.js b/src/components/ReportActionItem/ReportPreview.js
index 8cb8406e8a0d..615e91dc5fc4 100644
--- a/src/components/ReportActionItem/ReportPreview.js
+++ b/src/components/ReportActionItem/ReportPreview.js
@@ -218,7 +218,7 @@ function ReportPreview(props) {
                             <View style={[styles.flex1, styles.flexRow, styles.alignItemsCenter]}>
                                 <Text style={[styles.textLabelSupporting, styles.mb1, styles.lh20]}>{getPreviewMessage()}</Text>
                             </View>
-                            {hasErrors && (
+                            {!iouSettled && hasErrors && (
                                 <Icon
                                     src={Expensicons.DotIndicator}
                                     fill={theme.danger}
diff --git a/src/libs/OptionsListUtils.js b/src/libs/OptionsListUtils.js
index e3b6ec77380e..820339ebc6c4 100644
--- a/src/libs/OptionsListUtils.js
+++ b/src/libs/OptionsListUtils.js
@@ -350,11 +350,11 @@ function getAllReportErrors(report, reportActions) {
     if (parentReportAction.actorAccountID === currentUserAccountID && ReportActionUtils.isTransactionThread(parentReportAction)) {
         const transactionID = lodashGet(parentReportAction, ['originalMessage', 'IOUTransactionID'], '');
         const transaction = allTransactions[`${ONYXKEYS.COLLECTION.TRANSACTION}${transactionID}`] || {};
-        if (TransactionUtils.hasMissingSmartscanFields(transaction)) {
+        if (TransactionUtils.hasMissingSmartscanFields(transaction) && !ReportUtils.isSettled(transaction.reportID)) {
             _.extend(reportActionErrors, {smartscan: ErrorUtils.getMicroSecondOnyxError('report.genericSmartscanFailureMessage')});
         }
     } else if ((ReportUtils.isIOUReport(report) || ReportUtils.isExpenseReport(report)) && report.ownerAccountID === currentUserAccountID) {
-        if (ReportUtils.hasMissingSmartscanFields(report.reportID)) {
+        if (ReportUtils.hasMissingSmartscanFields(report.reportID) && !ReportUtils.isSettled(report.reportID)) {
             _.extend(reportActionErrors, {smartscan: ErrorUtils.getMicroSecondOnyxError('report.genericSmartscanFailureMessage')});
         }
     }