When youtry to import a PSD file yout should be presetend with an option to (wording may be incorrect but the idea is ther) merge layers and import as a single image or to import as a sequence.

The latter, indeed, creates a new sequence, imports each layer as a sperate asset and then places the assets on the new sequence timeline, in the correctlayer order.

I've never seen the error you're describing. Guesses are....

Are you saving the PSD from Photoshop. If not then maybe it's not quite the right format being saved.

Try doing a save as in your editor to create a new version of the file.

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