diff --git a/changelogs/fragments/rds_instance_iops_fix.yaml b/changelogs/fragments/rds_instance_iops_fix.yaml
new file mode 100644
index 00000000000..35638f2744b
--- /dev/null
+++ b/changelogs/fragments/rds_instance_iops_fix.yaml
@@ -0,0 +1,2 @@
+bugfixes:
+  - rds_instance no longer fails when passing neither storage_type nor iops
diff --git a/lib/ansible/modules/cloud/amazon/rds_instance.py b/lib/ansible/modules/cloud/amazon/rds_instance.py
index d4e7b66b274..ac759da677e 100644
--- a/lib/ansible/modules/cloud/amazon/rds_instance.py
+++ b/lib/ansible/modules/cloud/amazon/rds_instance.py
@@ -847,7 +847,7 @@ def get_options_with_changing_values(client, module, parameters):
     if cloudwatch_logs_enabled:
         parameters['CloudwatchLogsExportConfiguration'] = cloudwatch_logs_enabled
     if not module.params['storage_type']:
-        parameters.pop('Iops')
+        parameters.pop('Iops', None)
 
     instance = get_instance(client, module, instance_id)
     updated_parameters = get_changing_options_with_inconsistent_keys(parameters, instance, purge_cloudwatch_logs)