diff --git a/src/compiler/locall.lisp b/src/compiler/locall.lisp
index 97372d3..2abd769 100644
--- a/src/compiler/locall.lisp
+++ b/src/compiler/locall.lisp
@@ -506,7 +506,14 @@
             :format-control
             "function called with ~R argument~:P, but wants exactly ~R"
             :format-arguments (list n-call-args nargs))
-           (setf (basic-combination-kind call) :error)))))
+           (with-ir1-environment-from-node call
+             (transform-call call
+                             `(lambda (&rest args)
+                                (declare (ignore args))
+                                (%verify-arg-count ',n-call-args
+                                                   ',nargs))
+                             (or (combination-fun-source-name call nil)
+                                 'arg-count-error)))))))
 
 ;;;; &OPTIONAL, &MORE and &KEYWORD calls