No, you shouldn't ignore the original incorrect information.
If the corrected box is not checked on your 1099-R, contact the issuer to confirm the correction. It's important the form is properly marked to ensure what the issuer gives you matches the IRS records.
You can enter the corrected information on your tax return, but keep the original form for your records and be sure to obtain a properly marked corrected form.
For more details, refer to the IRS instructions - Topic No. 154 on handling incorrect or missing forms here.
