diff --git a/compiler/vmdef.lisp b/compiler/vmdef.lisp
index 1e5a400394d48797fefb335cd96eca613f9ea3a4..4cfc6f1ccb05f157104746727dab19a047a0f00e 100644
--- a/compiler/vmdef.lisp
+++ b/compiler/vmdef.lisp
@@ -623,7 +623,7 @@
 ;;; expression that evaluates into the first tn-ref.
 ;;;
 (defun access-operands (operands more-operand refs)
-  (declare (list operands refs))
+  (declare (list operands))
   (collect ((res))
     (let ((prev refs))
       (dolist (op operands)