diff --git a/flang/lib/Semantics/compute-offsets.cpp b/flang/lib/Semantics/compute-offsets.cpp
--- a/flang/lib/Semantics/compute-offsets.cpp
+++ b/flang/lib/Semantics/compute-offsets.cpp
@@ -173,9 +173,13 @@
       Symbol &base{*dep.symbol};
       if (const auto *baseBlock{FindCommonBlockContaining(base)}) {
         if (baseBlock == &commonBlock) {
-          context_.Say(errorSite,
-              "'%s' is storage associated with '%s' by EQUIVALENCE elsewhere in COMMON block /%s/"_err_en_US,
-              symbol.name(), base.name(), commonBlock.name());
+          if (base.offset() != symbol.offset() - dep.offset ||
+              std::find(details.objects().begin(), details.objects().end(),
+                  base) != details.objects().end()) {
+            context_.Say(errorSite,
+                "'%s' is storage associated with '%s' by EQUIVALENCE elsewhere in COMMON block /%s/"_err_en_US,
+                symbol.name(), base.name(), commonBlock.name());
+          }
         } else { // 8.10.3(1)
           context_.Say(errorSite,
               "'%s' in COMMON block /%s/ must not be storage associated with '%s' in COMMON block /%s/ by EQUIVALENCE"_err_en_US,
diff --git a/flang/test/Semantics/offsets03.f90 b/flang/test/Semantics/offsets03.f90
--- a/flang/test/Semantics/offsets03.f90
+++ b/flang/test/Semantics/offsets03.f90
@@ -60,4 +60,8 @@
   integer :: i5, j5, l5(10)
   equivalence(l5(1), i5)
   common /common7/ j5, i5   ! CHECK: common7 size=44 offset=0: CommonBlockDetails alignment=4:
+
+  real :: a1, a2, a3(2)
+  equivalence(a1,a3(1)),(a2,a3(2))
+  common /common8/ a1, a2   ! CHECK: common8 size=8 offset=0: CommonBlockDetails alignment=4:
 end