Error: 'Year, Month, and Day parameters describe an un-representable DateTime' when creating a new index in an IQ database (4240961)

When creating a new index in an IQ database, the following error appears: 'Year, Month, and Day parameters describe an un-representable DateTime'

Steps:
Connect to IQ
Select "IQ Store Indexes"
Right-click "IQ Store Indexes" and select "Create index"

Full error message:
Exception: System.ArgumentOutOfRangeException Message : Year, Month, and Day parameters describe an un-representable DateTime.
Stack Trace: at System.DateTime.DateToTicks(Int32 year, Int32 month, Int32 day) at iAnywhere.Data.SQLAnywhere.SADataConvert.SAToDotNet(SADataItem valIn, DotNetType dotNetType) at iAnywhere.Data.SQLAnywhere.SADataReader.Read() at Quest.Toad.Db.ProxyDataReader.Read() at Quest.Toad.SAP.Util.GridBindDatatableUtil.Bind(GridControl gridControl, GDColumnInfoCollection columnInfoes, IDataReader reader) at Quest.Toad.SAP.Doe.Base.Controls.SqlFetchGridControl.FillData() at Quest.Toad.SAP.Doe.Base.Controls.SqlFetchGridControl.set_Sql(Sql value) at Quest.Toad.SAP.Doe.SA.IQStoreIndex.IQStoreIndexAddControl.set_Trl(ITrl value) at Quest.Toad.SAP.Doe.SA.IQStoreIndex.IQStoreIndexAddForm.Initialize() at Quest.Toad.Doe.BaseDoeForm.LoadInternal() at Quest.Toad.Doe.BaseDoeForm.PreShowInitialize() at Quest.Toad.Doe.BaseDoeForm.Create(Object sender, ItemClickEventArgs e)