diff --git a/Sources/ParsingHelpers.swift b/Sources/ParsingHelpers.swift
index 83fec559..0c8e5594 100644
--- a/Sources/ParsingHelpers.swift
+++ b/Sources/ParsingHelpers.swift
@@ -1421,7 +1421,8 @@ extension Formatter {
             return last(.nonSpaceOrLinebreak, before: i) != .keyword("for")
         case .identifier("async"):
             if let nextToken = next(.nonSpaceOrCommentOrLinebreak, after: nextIndex),
-               [.operator("->", .infix), .keyword("throws"), .keyword("rethrows")].contains(nextToken)
+               [.operator("->", .infix), .keyword("throws"), .keyword("rethrows"),
+                .startOfScope("{")].contains(nextToken)
             {
                 return true
             }
diff --git a/Tests/Rules/WrapArgumentsTests.swift b/Tests/Rules/WrapArgumentsTests.swift
index c7b7be36..f7d57158 100644
--- a/Tests/Rules/WrapArgumentsTests.swift
+++ b/Tests/Rules/WrapArgumentsTests.swift
@@ -1156,6 +1156,30 @@ final class WrapArgumentsTests: XCTestCase {
         testFormatting(for: input, rule: .wrapArguments, options: options)
     }
 
+    func testWrapArgumentsDoesNotAffectAsyncFunctionDeclaration() {
+        let input = """
+        func foo(
+            bar _: Int,
+            baz _: String
+        ) async {}
+        """
+        let options = FormatOptions(wrapArguments: .afterFirst, wrapParameters: .preserve)
+        testFormatting(for: input, rule: .wrapArguments, options: options)
+    }
+
+    func testWrapParametersUsedForAsyncFunctionDeclaration() {
+        let input = """
+        func testAsync(first: String,
+                       second: String,
+                       third: String) async {
+            debugPrint("")
+        }
+        """
+        let options = FormatOptions(wrapArguments: .beforeFirst, wrapParameters: .afterFirst)
+        testFormatting(for: input, rule: .wrapArguments, options: options,
+                       exclude: [.unusedArguments, .wrapMultilineStatementBraces])
+    }
+
     // MARK: afterFirst
 
     func testWrapArgumentsConvertBeforeFirstToAfterFirst() {