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This could be a problem, this could be a one time issue. First thing to do is check the level of trans fluid.
OBD2 needs to have codes reset with a scanner. You can clear codes by disconnecting the negative terminal on the battery and leaving it off for 3 to 5 minutes, but if you are going to get your car inspected for emissions in the next month or so, you will fail testing. If you're more than a month away from your next emissions inspection, go ahead and disconnect the battery.
If this code resets and the fluid level in the trans is good, you potentially have a wiring problem, a problem with the lock up solenoid in the valve body or a problem with your torque converter (very rare, but it happens).