1. Most of the time you get the error is due to the time server being down, so try again later.

2. Try another Server. ( time.nist.gov )

3. Your firewall might be blocking W32Time, disable firewall, update time and enable again.

4. The following steps will stop and start the time update application.

Start > Run cmd.exe
net stop w32time
w32tm.exe /unregister
w32tm.exe /register
net start w32time