A bivalve faunule of six species is described from the Upper Triassic Jiapila Formation at the headwaters of the Yangtze River, southern Qinghai, China. The new species, Neomegalodon cornutus and Quemocuomegalodon circularis, are described. The type species of Quemocuomegalodon, Q. orientus, is revised. Quemocuomegalodon orientusYao, Sha, and Zhang (2003) is now known from abundant, well-preserved specimens that show great variation in shape, size, thickness of shell, and dentition, and the species Q. longitatus, Yao, Sha, and Zhang (2003) is now placed in synonymy with Q. orientus. There are significant morphologic differences between the external appearance of shelled specimens and the internal molds of species of Quemocuomegalodon. This suggests the need for the re-evaluation of many megalodontid species from elsewhere that are known only from internal molds.