Picklist value selection that will populate formula field date

Question

I am trying to make a formula date field with will show Today's date ifa specific picklist value is selected. Here is what I have come up with

IF(ISPICKVAL(Debit_Success__c , "Suspended"),TODAY())

I am getting an error that "Incorrect number of parameters for function 'IF()'. Expected 3, received 2"

Any idea about if I am missing something here will be much appreciated

Thank you very much

Answer 1

You need to specify one more parameter in IF condition, with the value that needs to be shown if the condition is not satisfied.

IF(ISPICKVAL(Debit_Success__c , "Suspended"),TODAY(),TODAY()-5)

Replace TODAY()-5 with your value.