Fortunately, this error has an easy, if counterintuitive, solution. This error happens because there is a setting missing in FIMS. To correct this:
  1. Go to Tools > User Preferences
  2. Select ‘All other Preferences’ and click Ok.
  3. Under Option, select SaveAsDir. This is probably set to None. It needs to be defined.
  4. Click Browse and select a folder.
Attempt your Profile Import again and you should not get the error.