The bottleneck account for post-error slowing assumes that cognitive resources are depleted after errors and thus the processing of subsequent events is delayed. To test this, we used a novel speeded-choice task and recorded behavioral measures and ERP (event-related potential) components on five trials following either an erroneous or correct response. We found that participants were slower and less accurate immediately after making an error and that this reduction of performance decayed on the following trials. Moreover, post-correct versus post-error differences in both the visual N1 and the P3 component were found. However, the difference in the P3 component rapidly diminished over time, whereas the differences in the N1 component were still evident in the fourth trial following the erroneous response. The results lay further support to the bottleneck account for post-error slowing and show a combination of early attentional and higher-order processing changes that occur after erroneous responses.