Hi D Rohloff,
Thank you for using the Support Forum. Make sure the paper is loaded correctly. See these instruction from the case Holes to Close to Edge:
NOTE: This solution only applies when printing from Paper Tray 1 or 2.
When using the hole-punch feature, make sure the paper is loaded in the LEF orientation (with the long edge of the paper against the left side of the tray).
If this does not fix the issue please consider contacting your support centre for further assistance.
My ColorQube 9203 office finisher hole punch is punching the holes too close to the edge. Can anyone help me make an adjustment?