diff --git a/compiler/ir/backend.jvm/entrypoint/src/org/jetbrains/kotlin/backend/jvm/JvmIrCodegenFactory.kt b/compiler/ir/backend.jvm/entrypoint/src/org/jetbrains/kotlin/backend/jvm/JvmIrCodegenFactory.kt
index 7ec0814ceae..dff750a2382 100644
--- a/compiler/ir/backend.jvm/entrypoint/src/org/jetbrains/kotlin/backend/jvm/JvmIrCodegenFactory.kt
+++ b/compiler/ir/backend.jvm/entrypoint/src/org/jetbrains/kotlin/backend/jvm/JvmIrCodegenFactory.kt
@@ -23,10 +23,8 @@ import org.jetbrains.kotlin.idea.MainFunctionDetector
 import org.jetbrains.kotlin.ir.backend.jvm.serialization.JvmDescriptorMangler
 import org.jetbrains.kotlin.ir.backend.jvm.serialization.JvmIrLinker
 import org.jetbrains.kotlin.ir.builders.TranslationPluginContext
-import org.jetbrains.kotlin.ir.declarations.IrClass
 import org.jetbrains.kotlin.ir.declarations.IrFile
 import org.jetbrains.kotlin.ir.declarations.IrModuleFragment
-import org.jetbrains.kotlin.ir.declarations.MetadataSource
 import org.jetbrains.kotlin.ir.declarations.impl.IrFactoryImpl
 import org.jetbrains.kotlin.ir.descriptors.IrBuiltIns
 import org.jetbrains.kotlin.ir.descriptors.IrFunctionFactory
@@ -188,16 +186,6 @@ open class JvmIrCodegenFactory(
         /* JvmBackendContext creates new unbound symbols, have to resolve them. */
         ExternalDependenciesGenerator(symbolTable, irProviders).generateUnboundSymbolsAsDependencies()
 
-        if (state.configuration.getBoolean(JVMConfigurationKeys.SERIALIZE_IR)) {
-            for (irFile in irModuleFragment.files) {
-                (irFile.metadata as? MetadataSource.File)?.serializedIr = serializeIrFile(context, irFile)
-
-                for (irClass in irFile.declarations.filterIsInstance<IrClass>()) {
-                    (irClass.metadata as? MetadataSource.Class)?.serializedIr = serializeTopLevelIrClass(context, irClass)
-                }
-            }
-        }
-
         context.state.factory.registerSourceFiles(irModuleFragment.files.map(IrFile::getKtFile))
 
         jvmPhases.invokeToplevel(phaseConfig, context, irModuleFragment)
diff --git a/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/JvmLower.kt b/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/JvmLower.kt
index a3bb0678146..871edb0f7aa 100644
--- a/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/JvmLower.kt
+++ b/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/JvmLower.kt
@@ -72,7 +72,7 @@ private val arrayConstructorPhase = makeIrFilePhase(
     description = "Transform `Array(size) { index -> value }` into a loop"
 )
 
-private val expectDeclarationsRemovingPhase = makeIrModulePhase(
+internal val expectDeclarationsRemovingPhase = makeIrModulePhase(
     ::ExpectDeclarationsRemoveLowering,
     name = "ExpectDeclarationsRemoving",
     description = "Remove expect declaration from module fragment"
@@ -428,6 +428,7 @@ private val jvmLoweringPhases = NamedCompilerPhase(
     lower = validateIrBeforeLowering then
             processOptionalAnnotationsPhase then
             expectDeclarationsRemovingPhase then
+            serializeIrPhase then
             scriptsToClassesPhase then
             fileClassPhase then
             jvmStaticInObjectPhase then
diff --git a/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/lower/SerializeIrPhase.kt b/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/lower/SerializeIrPhase.kt
new file mode 100644
index 00000000000..0d151423ad6
--- /dev/null
+++ b/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/lower/SerializeIrPhase.kt
@@ -0,0 +1,38 @@
+/*
+ * Copyright 2010-2021 JetBrains s.r.o. and Kotlin Programming Language contributors.
+ * Use of this source code is governed by the Apache 2.0 license that can be found in the license/LICENSE.txt file.
+ */
+
+package org.jetbrains.kotlin.backend.jvm.lower
+
+import org.jetbrains.kotlin.backend.common.FileLoweringPass
+import org.jetbrains.kotlin.backend.common.lower
+import org.jetbrains.kotlin.backend.common.phaser.makeCustomPhase
+import org.jetbrains.kotlin.backend.jvm.JvmBackendContext
+import org.jetbrains.kotlin.backend.jvm.expectDeclarationsRemovingPhase
+import org.jetbrains.kotlin.backend.jvm.serializeIrFile
+import org.jetbrains.kotlin.backend.jvm.serializeTopLevelIrClass
+import org.jetbrains.kotlin.config.JVMConfigurationKeys
+import org.jetbrains.kotlin.ir.declarations.IrClass
+import org.jetbrains.kotlin.ir.declarations.IrFile
+import org.jetbrains.kotlin.ir.declarations.IrModuleFragment
+import org.jetbrains.kotlin.ir.declarations.MetadataSource
+
+internal val serializeIrPhase = makeCustomPhase<JvmBackendContext, IrModuleFragment>(
+    { context, irModule -> SerializeIrPhase(context).lower(irModule) },
+    name = "SerializeIr",
+    description = "If specified by compiler options, save serialized IR in class annotations",
+    prerequisite = setOf(expectDeclarationsRemovingPhase),
+)
+
+class SerializeIrPhase(val context: JvmBackendContext) : FileLoweringPass {
+    override fun lower(irFile: IrFile) {
+        if (context.state.configuration.getBoolean(JVMConfigurationKeys.SERIALIZE_IR)) {
+            (irFile.metadata as? MetadataSource.File)?.serializedIr = serializeIrFile(context, irFile)
+
+            for (irClass in irFile.declarations.filterIsInstance<IrClass>()) {
+                (irClass.metadata as? MetadataSource.Class)?.serializedIr = serializeTopLevelIrClass(context, irClass)
+            }
+        }
+    }
+}
\ No newline at end of file