diff --git a/lib/checknullpointer.cpp b/lib/checknullpointer.cpp
index 8429c823e..433523d46 100644
--- a/lib/checknullpointer.cpp
+++ b/lib/checknullpointer.cpp
@@ -1268,7 +1268,6 @@ private:
                     return tok2;
                 }
             }
-            return tok2;
         }
 
         return &tok;
diff --git a/test/testnullpointer.cpp b/test/testnullpointer.cpp
index 190a068dc..1acc2ec69 100644
--- a/test/testnullpointer.cpp
+++ b/test/testnullpointer.cpp
@@ -54,6 +54,7 @@ private:
         TEST_CASE(nullpointer18); // #1927
         TEST_CASE(nullpointer19); // #3811
         TEST_CASE(nullpointer20); // #3807 (fp: return p ? (p->x() || p->y()) : z)
+        TEST_CASE(nullpointer21); // #4038 (fp: if (x) p=q; else return;)
         TEST_CASE(nullpointer_castToVoid); // #3771
         TEST_CASE(pointerCheckAndDeRef);     // check if pointer is null and then dereference it
         TEST_CASE(nullConstantDereference);  // Dereference NULL constant
@@ -1280,6 +1281,16 @@ private:
         TODO_ASSERT_EQUALS("error", "", errout.str());
     }
 
+    void nullpointer21() {  // #4038 - fp: if (x) p=q; else return;
+        check("void f(int x) {\n"
+              "    int *p = 0;\n"
+              "    if (x) p = q;\n"
+              "    else return;\n"
+              "    *p = 0;\n" // <- p is not NULL
+              "}");
+        ASSERT_EQUALS("", errout.str());
+    }
+
     void nullpointer_castToVoid() {  // #3771
         check("void f () {\n"
               "    int *buf = NULL;\n"