diff --git a/flang/lib/Parser/preprocessor.cpp b/flang/lib/Parser/preprocessor.cpp
--- a/flang/lib/Parser/preprocessor.cpp
+++ b/flang/lib/Parser/preprocessor.cpp
@@ -599,7 +599,7 @@
             "#include: expected '>' at end of included file"_port_en_US);
       }
       TokenSequence braced{dir, j + 1, k - j - 1};
-      include = ReplaceMacros(braced, prescanner).ToString();
+      include = braced.ToString();
       j = k;
     } else if ((include = dir.TokenAt(j).ToString()).substr(0, 1) == "\"" &&
         include.substr(include.size() - 1, 1) == "\"") { // #include "foo"
diff --git a/flang/test/Preprocessing/preserve-brace-include.F90 b/flang/test/Preprocessing/preserve-brace-include.F90
new file mode 100644
--- /dev/null
+++ b/flang/test/Preprocessing/preserve-brace-include.F90
@@ -0,0 +1,5 @@
+! RUN: %flang -E -I%S %s | FileCheck %s
+
+#define empty ERR_NONEXISTENT
+! CHECK-NOT: :5:
+#include <empty.h>