diff --git a/compiler/resolution/src/org/jetbrains/kotlin/resolve/calls/results/FlatSignature.kt b/compiler/resolution/src/org/jetbrains/kotlin/resolve/calls/results/FlatSignature.kt
index 465d736d301..ae8f76170ee 100644
--- a/compiler/resolution/src/org/jetbrains/kotlin/resolve/calls/results/FlatSignature.kt
+++ b/compiler/resolution/src/org/jetbrains/kotlin/resolve/calls/results/FlatSignature.kt
@@ -16,8 +16,8 @@
 
 package org.jetbrains.kotlin.resolve.calls.results
 
+import org.jetbrains.kotlin.builtins.getAllParameterProjectionsFromCallableReflectionType
 import org.jetbrains.kotlin.container.DefaultImplementation
-import org.jetbrains.kotlin.container.PlatformExtensionsClashResolver
 import org.jetbrains.kotlin.container.PlatformSpecificExtension
 import org.jetbrains.kotlin.descriptors.CallableDescriptor
 import org.jetbrains.kotlin.descriptors.MemberDescriptor
@@ -62,7 +62,7 @@ class FlatSignature<out T> constructor(
             return FlatSignature(
                 origin,
                 descriptor.typeParameters,
-                reflectionType.arguments.map { it.type }, // should we drop return type?
+                reflectionType.getAllParameterProjectionsFromCallableReflectionType().map { it.type },
                 hasExtensionReceiver = false,
                 hasVarargs = descriptor.valueParameters.any { it.varargElementType != null },
                 numDefaults = numDefaults,
diff --git a/compiler/testData/diagnostics/tests/inference/regressions/kt32862_both.kt b/compiler/testData/diagnostics/tests/inference/regressions/kt32862_both.kt
new file mode 100644
index 00000000000..1d379fe81fe
--- /dev/null
+++ b/compiler/testData/diagnostics/tests/inference/regressions/kt32862_both.kt
@@ -0,0 +1,16 @@
+// !DIAGNOSTICS: -UNUSED_PARAMETER
+// !WITH_NEW_INFERENCE
+
+interface G<T> {
+    fun build(): G<T>
+}
+class V1<V>(val value: V)
+class V2<V>(val value: V)
+fun <V, T : V?> G<T>.foo(vararg values: V1<V>) = build()
+fun <V, T : V?> G<T>.foo(vararg values: V2<V?>) = build()
+
+fun forReference(ref: Any?) {}
+
+fun test() {
+    forReference(G<Int?>::<!NI;CALLABLE_REFERENCE_RESOLUTION_AMBIGUITY, NI;DEBUG_INFO_MISSING_UNRESOLVED, OI;CANNOT_COMPLETE_RESOLVE!>foo<!>)
+}
diff --git a/compiler/testData/diagnostics/tests/inference/regressions/kt32862_both.txt b/compiler/testData/diagnostics/tests/inference/regressions/kt32862_both.txt
new file mode 100644
index 00000000000..92b363fc213
--- /dev/null
+++ b/compiler/testData/diagnostics/tests/inference/regressions/kt32862_both.txt
@@ -0,0 +1,29 @@
+package
+
+public fun forReference(/*0*/ ref: kotlin.Any?): kotlin.Unit
+public fun test(): kotlin.Unit
+public fun </*0*/ V, /*1*/ T : V?> G<T>.foo(/*0*/ vararg values: V1<V> /*kotlin.Array<out V1<V>>*/): G<T>
+public fun </*0*/ V, /*1*/ T : V?> G<T>.foo(/*0*/ vararg values: V2<V?> /*kotlin.Array<out V2<V?>>*/): G<T>
+
+public interface G</*0*/ T> {
+    public abstract fun build(): G<T>
+    public open override /*1*/ /*fake_override*/ fun equals(/*0*/ other: kotlin.Any?): kotlin.Boolean
+    public open override /*1*/ /*fake_override*/ fun hashCode(): kotlin.Int
+    public open override /*1*/ /*fake_override*/ fun toString(): kotlin.String
+}
+
+public final class V1</*0*/ V> {
+    public constructor V1</*0*/ V>(/*0*/ value: V)
+    public final val value: V
+    public open override /*1*/ /*fake_override*/ fun equals(/*0*/ other: kotlin.Any?): kotlin.Boolean
+    public open override /*1*/ /*fake_override*/ fun hashCode(): kotlin.Int
+    public open override /*1*/ /*fake_override*/ fun toString(): kotlin.String
+}
+
+public final class V2</*0*/ V> {
+    public constructor V2</*0*/ V>(/*0*/ value: V)
+    public final val value: V
+    public open override /*1*/ /*fake_override*/ fun equals(/*0*/ other: kotlin.Any?): kotlin.Boolean
+    public open override /*1*/ /*fake_override*/ fun hashCode(): kotlin.Int
+    public open override /*1*/ /*fake_override*/ fun toString(): kotlin.String
+}
diff --git a/compiler/testData/diagnostics/tests/inference/regressions/kt32862_none.kt b/compiler/testData/diagnostics/tests/inference/regressions/kt32862_none.kt
new file mode 100644
index 00000000000..60c0635ac66
--- /dev/null
+++ b/compiler/testData/diagnostics/tests/inference/regressions/kt32862_none.kt
@@ -0,0 +1,12 @@
+// !DIAGNOSTICS: -UNUSED_PARAMETER
+// !LANGUAGE: +NewInference
+// !WITH_NEW_INFERENCE
+
+fun foo(s: String) {}
+fun foo(i: Long) {}
+
+fun bar(f: (Boolean) -> Unit) {}
+
+fun test() {
+    bar(::<!NI;CALLABLE_REFERENCE_RESOLUTION_AMBIGUITY, NI;DEBUG_INFO_MISSING_UNRESOLVED, OI;NONE_APPLICABLE!>foo<!>)
+}
diff --git a/compiler/testData/diagnostics/tests/inference/regressions/kt32862_none.txt b/compiler/testData/diagnostics/tests/inference/regressions/kt32862_none.txt
new file mode 100644
index 00000000000..e51ec98eafc
--- /dev/null
+++ b/compiler/testData/diagnostics/tests/inference/regressions/kt32862_none.txt
@@ -0,0 +1,6 @@
+package
+
+public fun bar(/*0*/ f: (kotlin.Boolean) -> kotlin.Unit): kotlin.Unit
+public fun foo(/*0*/ i: kotlin.Long): kotlin.Unit
+public fun foo(/*0*/ s: kotlin.String): kotlin.Unit
+public fun test(): kotlin.Unit
diff --git a/core/descriptors/src/org/jetbrains/kotlin/builtins/ReflectionTypes.kt b/core/descriptors/src/org/jetbrains/kotlin/builtins/ReflectionTypes.kt
index 67b0ddd8eeb..4f1d8ef10b2 100644
--- a/core/descriptors/src/org/jetbrains/kotlin/builtins/ReflectionTypes.kt
+++ b/core/descriptors/src/org/jetbrains/kotlin/builtins/ReflectionTypes.kt
@@ -112,7 +112,7 @@ class ReflectionTypes(module: ModuleDescriptor, private val notFoundClasses: Not
         fun isNumberedKPropertyOrKMutablePropertyType(type: KotlinType): Boolean =
                 isNumberedKPropertyType(type) || isNumberedKMutablePropertyType(type)
 
-        private fun isKCallableType(type: KotlinType): Boolean =
+        fun isKCallableType(type: KotlinType): Boolean =
             hasKCallableTypeFqName(type) || type.constructor.supertypes.any { isKCallableType(it) }
 
         fun hasKCallableTypeFqName(type: KotlinType): Boolean =
diff --git a/core/descriptors/src/org/jetbrains/kotlin/builtins/functionTypes.kt b/core/descriptors/src/org/jetbrains/kotlin/builtins/functionTypes.kt
index 558ed5a6a5b..bf5428e07cd 100644
--- a/core/descriptors/src/org/jetbrains/kotlin/builtins/functionTypes.kt
+++ b/core/descriptors/src/org/jetbrains/kotlin/builtins/functionTypes.kt
@@ -21,6 +21,7 @@ import org.jetbrains.kotlin.types.typeUtil.asTypeProjection
 import org.jetbrains.kotlin.types.typeUtil.replaceAnnotations
 import org.jetbrains.kotlin.utils.DFS
 import org.jetbrains.kotlin.utils.addIfNotNull
+import org.jetbrains.kotlin.utils.addToStdlib.safeAs
 import java.util.*
 
 private fun KotlinType.isTypeOrSubtypeOf(predicate: (KotlinType) -> Boolean): Boolean =
@@ -58,6 +59,9 @@ val KotlinType.isFunctionType: Boolean
 val KotlinType.isSuspendFunctionType: Boolean
     get() = constructor.declarationDescriptor?.getFunctionalClassKind() == FunctionClassDescriptor.Kind.SuspendFunction
 
+val KotlinType.isCallableReflectionType: Boolean
+    get() = ReflectionTypes.isKCallableType(this)
+
 val KotlinType.isKSuspendFunctionType: Boolean
     get() = constructor.declarationDescriptor?.getFunctionalClassKind() == FunctionClassDescriptor.Kind.KSuspendFunction
 
@@ -139,6 +143,14 @@ fun KotlinType.getValueParameterTypesFromFunctionType(): List<TypeProjection> {
     return arguments.subList(first, last)
 }
 
+fun KotlinType.getAllParameterProjectionsFromCallableReflectionType(): List<TypeProjection> {
+    assert(isCallableReflectionType) { "Not a callable reflection type: $this" }
+    val arguments = arguments
+    val last = arguments.size - 1
+    assert(last >= 0) { "Unexpected number of type arguments in type: $this" }
+    return arguments.subList(0, last)
+}
+
 fun KotlinType.extractParameterNameFromFunctionTypeArgument(): Name? {
     val annotation = annotations.findAnnotation(KotlinBuiltIns.FQ_NAMES.parameterName) ?: return null
     val name = (annotation.allValueArguments.values.singleOrNull() as? StringValue)