Chelsea fullback Wallace is set to cut short his loan with Serie A outfit Carpi.
The Brazilian joined Carpi on-loan for the season, but has managed just six appearances for the minnows.
TMW says Wallace is due to return to parent club Chelsea in the coming days to train with Jose Mourinho's first team squad.
Wallace will be ineligible to play, but will train at Cobham ahead of moving again on-loan next month.
Porto are mooted as a potential destination.