diff --git a/packages/desktop-client/src/hooks/useSyncedPrefs.ts b/packages/desktop-client/src/hooks/useSyncedPrefs.ts
index 60478520229..ca8788ecb34 100644
--- a/packages/desktop-client/src/hooks/useSyncedPrefs.ts
+++ b/packages/desktop-client/src/hooks/useSyncedPrefs.ts
@@ -16,7 +16,7 @@ export function useSyncedPrefs(): [SyncedPrefs, SetSyncedPrefsAction] {
 
   const prefs = useMemo<SyncedPrefs>(
     () =>
-      queryData.reduce(
+      (queryData ?? []).reduce(
         (carry, { id, value }) => ({
           ...carry,
           [id]: value,
diff --git a/packages/loot-core/src/client/query-hooks.tsx b/packages/loot-core/src/client/query-hooks.tsx
index 930acfc5875..8e4f5810aa7 100644
--- a/packages/loot-core/src/client/query-hooks.tsx
+++ b/packages/loot-core/src/client/query-hooks.tsx
@@ -82,7 +82,7 @@ export function useQuery<Response = unknown>(
   makeQuery: () => Query,
   deps: DependencyList,
 ): {
-  data: Response;
+  data: null | Response;
   overrideData: (newData: Response) => void;
   isLoading: boolean;
 } {
diff --git a/upcoming-release-notes/3460.md b/upcoming-release-notes/3460.md
new file mode 100644
index 00000000000..b39dfcb9c9a
--- /dev/null
+++ b/upcoming-release-notes/3460.md
@@ -0,0 +1,6 @@
+---
+category: Bugfix
+authors: [MatisJanis]
+---
+
+SyncedPrefs: fix import prefs not reading correctly.