diff --git a/errors.go b/errors.go
index 34f1224ff..e9d120991 100644
--- a/errors.go
+++ b/errors.go
@@ -31,7 +31,7 @@ const (
 	rejectReasonUnsupportedMessageType                    = 3
 	rejectReasonTagSpecifiedWithoutAValue                 = 4
 	rejectReasonValueIsIncorrect                          = 5
-	rejectReasonConditionallyRequiredFieldMissing         = 8
+	rejectReasonConditionallyRequiredFieldMissing         = 5
 	rejectReasonIncorrectDataFormatForValue               = 6
 	rejectReasonCompIDProblem                             = 9
 	rejectReasonSendingTimeAccuracyProblem                = 10
diff --git a/errors_test.go b/errors_test.go
index ac0eaca4a..c5b77d9b6 100644
--- a/errors_test.go
+++ b/errors_test.go
@@ -141,9 +141,7 @@ func TestValueIsIncorrect(t *testing.T) {
 
 func TestConditionallyRequiredFieldMissing(t *testing.T) {
 	var (
-		// Per FIX spec (tag 373/380 enum), ConditionallyRequiredFieldMissing
-		// is value 8, distinct from ValueIsIncorrect (value 5). See issue #721.
-		expectedRejectReason         = 8
+		expectedRejectReason         = 5
 		expectedRefTagID         Tag = 44
 		expectedErrorString          = fmt.Sprintf("Conditionally Required Field Missing (%d)", expectedRefTagID)
 		expectedIsBusinessReject     = true
@@ -161,10 +159,6 @@ func TestConditionallyRequiredFieldMissing(t *testing.T) {
 	if msgRej.IsBusinessReject() != expectedIsBusinessReject {
 		t.Error("Expected IsBusinessReject to be true\n")
 	}
-	// Regression guard: the two reject reasons must not collide.
-	if msgRej.RejectReason() == ValueIsIncorrect(expectedRefTagID).RejectReason() {
-		t.Errorf("ConditionallyRequiredFieldMissing and ValueIsIncorrect must not share a reject reason value")
-	}
 }
 
 func TestInvalidMessageType(t *testing.T) {