diff --git a/native/commonizer/src/org/jetbrains/kotlin/descriptors/commonizer/core/AnnotationsCommonizer.kt b/native/commonizer/src/org/jetbrains/kotlin/descriptors/commonizer/core/AnnotationsCommonizer.kt
index e460991d02a..740b92049b9 100644
--- a/native/commonizer/src/org/jetbrains/kotlin/descriptors/commonizer/core/AnnotationsCommonizer.kt
+++ b/native/commonizer/src/org/jetbrains/kotlin/descriptors/commonizer/core/AnnotationsCommonizer.kt
@@ -5,6 +5,7 @@
 
 package org.jetbrains.kotlin.descriptors.commonizer.core
 
+import org.jetbrains.kotlin.descriptors.commonizer.core.AnnotationsCommonizer.Companion.FALLBACK_MESSAGE
 import org.jetbrains.kotlin.descriptors.commonizer.mergedtree.ir.CirAnnotation
 import org.jetbrains.kotlin.descriptors.commonizer.utils.DEPRECATED_ANNOTATION_FQN
 import org.jetbrains.kotlin.name.ClassId
@@ -14,6 +15,7 @@ import org.jetbrains.kotlin.resolve.constants.ArrayValue
 import org.jetbrains.kotlin.resolve.constants.ConstantValue
 import org.jetbrains.kotlin.resolve.constants.EnumValue
 import org.jetbrains.kotlin.resolve.constants.StringValue
+import kotlin.DeprecationLevel.WARNING
 
 /**
  * This is limited implementation of annotations commonizer. It helps to commonize only [kotlin.Deprecated] annotations.
@@ -30,39 +32,55 @@ class AnnotationsCommonizer : AbstractStandardCommonizer<List<CirAnnotation>, Li
 
     override fun doCommonizeWith(next: List<CirAnnotation>): Boolean {
         val nextDeprecatedAnnotation = next.firstOrNull { it.fqName == DEPRECATED_ANNOTATION_FQN } ?: return true
-        val deprecatedAnnotationCommonizer = deprecatedAnnotationCommonizer ?: DeprecatedAnnotationCommonizer()
+        val deprecatedAnnotationCommonizer = deprecatedAnnotationCommonizer
+            ?: DeprecatedAnnotationCommonizer().also { this.deprecatedAnnotationCommonizer = it }
         return deprecatedAnnotationCommonizer.commonizeWith(nextDeprecatedAnnotation)
     }
+
+    companion object {
+        internal const val FALLBACK_MESSAGE = "See concrete deprecation messages in actual declarations"
+    }
 }
 
 private class DeprecatedAnnotationCommonizer : Commonizer<CirAnnotation, CirAnnotation> {
     private var level: DeprecationLevel? = null // null level means that state is empty
     private var message: String? = null // null -> message is not equal
-    private var replaceWithExpression: String? = null // null -> replaceWith is not equal
-    private var replaceWithImports: List<String>? = null
+    private lateinit var replaceWithExpression: String
+    private lateinit var replaceWithImports: List<String>
 
     override val result: CirAnnotation
         get() {
-            if (level == null) throw IllegalCommonizerStateException()
+            val level: DeprecationLevel = level ?: throw IllegalCommonizerStateException()
+            val messageValue: StringValue = message.toDeprecationMessageValue()
+
+            val constantValueArguments: Map<Name, ConstantValue<*>> = if (level == WARNING) {
+                // don't populate with the default level value
+                mapOf(PROPERTY_NAME_MESSAGE to messageValue)
+            } else
+                hashMapOf(
+                    PROPERTY_NAME_MESSAGE to messageValue,
+                    PROPERTY_NAME_LEVEL to level.toDeprecationLevelValue()
+                )
+
+            val annotationValueArguments: Map<Name, CirAnnotation> = if (replaceWithExpression.isEmpty() && replaceWithImports.isEmpty()) {
+                // don't populate with empty (default) ReplaceWith
+                emptyMap()
+            } else
+                mapOf(PROPERTY_NAME_REPLACE_WITH to replaceWithExpression.toReplaceWithValue(replaceWithImports))
 
             return CirAnnotation.create(
                 fqName = DEPRECATED_ANNOTATION_FQN,
-                constantValueArguments = mapOf<Name, ConstantValue<*>>(
-                    PROPERTY_NAME_LEVEL to level!!.toDeprecationLevelValue(),
-                    PROPERTY_NAME_MESSAGE to message.toDeprecationMessageValue()
-                ),
-                annotationValueArguments = mapOf(
-                    PROPERTY_NAME_REPLACE_WITH to replaceWithExpression.toReplaceWithValue(replaceWithImports)
-                )
+                constantValueArguments = constantValueArguments,
+                annotationValueArguments = annotationValueArguments
             )
         }
 
     override fun commonizeWith(next: CirAnnotation): Boolean {
-        val nextLevel: DeprecationLevel = next.getDeprecationLevel() ?: DeprecationLevel.HIDDEN
-        val nextMessage: String? = next.getDeprecationMessage()
+        val nextLevel: DeprecationLevel = next.getDeprecationLevel() ?: WARNING
+        val nextMessage: String = next.getDeprecationMessage().orEmpty()
         val nextReplaceWith: CirAnnotation? = next.getReplaceWith()
-        val nextReplaceWithExpression: String? = nextReplaceWith?.getReplaceWithExpression()
-        val nextReplaceWithImports: List<String>? = nextReplaceWith?.getReplaceWithImports()
+        val nextReplaceWithExpression: String = nextReplaceWith?.getReplaceWithExpression().orEmpty()
+        val nextReplaceWithImports: List<String> = nextReplaceWith?.getReplaceWithImports().orEmpty()
 
         return if (level != null) {
             doCommonizeWith(nextLevel, nextMessage, nextReplaceWithExpression, nextReplaceWithImports)
@@ -76,23 +94,20 @@ private class DeprecatedAnnotationCommonizer : Commonizer<CirAnnotation, CirAnno
     private fun initialize(
         nextLevel: DeprecationLevel,
         nextMessage: String?,
-        nextReplaceWithExpression: String?,
-        nextReplaceWithImports: List<String>?
+        nextReplaceWithExpression: String,
+        nextReplaceWithImports: List<String>
     ) {
         level = nextLevel
         message = nextMessage
-
-        if (nextReplaceWithExpression != null && nextReplaceWithImports != null) {
-            replaceWithExpression = nextReplaceWithExpression
-            replaceWithImports = nextReplaceWithImports
-        }
+        replaceWithExpression = nextReplaceWithExpression
+        replaceWithImports = nextReplaceWithImports
     }
 
     private fun doCommonizeWith(
         nextLevel: DeprecationLevel,
         nextMessage: String?,
-        nextReplaceWithExpression: String?,
-        nextReplaceWithImports: List<String>?
+        nextReplaceWithExpression: String,
+        nextReplaceWithImports: List<String>
     ): Boolean {
         if (nextLevel.ordinal > level!!.ordinal)
             level = nextLevel
@@ -101,8 +116,8 @@ private class DeprecatedAnnotationCommonizer : Commonizer<CirAnnotation, CirAnno
             message = null
 
         if (nextReplaceWithExpression != replaceWithExpression || nextReplaceWithImports != replaceWithImports) {
-            replaceWithExpression = null
-            replaceWithImports = null
+            replaceWithExpression = ""
+            replaceWithImports = emptyList()
         }
 
         return true
@@ -122,8 +137,7 @@ private class DeprecatedAnnotationCommonizer : Commonizer<CirAnnotation, CirAnno
             "Use constructor instead",
             "Use factory method instead"
         ).associateWith { StringValue(it) }
-
-        private val FALLBACK_MESSAGE_VALUE = StringValue("See actual declarations for concrete deprecation messages")
+        private val FALLBACK_MESSAGE_VALUE = StringValue(FALLBACK_MESSAGE)
 
         private val DEPRECATION_LEVEL_FQN = FqName(DeprecationLevel::class.java.name)
         private val DEPRECATION_LEVEL_CLASS_ID = ClassId.topLevel(DEPRECATION_LEVEL_FQN)
@@ -135,9 +149,6 @@ private class DeprecatedAnnotationCommonizer : Commonizer<CirAnnotation, CirAnno
 
         private val REPLACE_WITH_FQN = FqName(ReplaceWith::class.java.name)
 
-        // Optimization: Keep empty ReplaceWith instance of CirAnnotation.
-        private val EMPTY_REPLACE_WITH_CIR_ANNOTATION = createReplaceWithAnnotation("", emptyList())
-
         private fun CirAnnotation.getDeprecationMessage(): String? = constantValueArguments.getString(PROPERTY_NAME_MESSAGE)
 
         private fun String?.toDeprecationMessageValue(): StringValue =
@@ -163,11 +174,8 @@ private class DeprecatedAnnotationCommonizer : Commonizer<CirAnnotation, CirAnno
         private fun CirAnnotation.getReplaceWithImports(): List<String>? =
             constantValueArguments.getStringArray(PROPERTY_NAME_IMPORTS)
 
-        private fun String?.toReplaceWithValue(imports: List<String>?): CirAnnotation =
-            if (this == null || imports == null)
-                EMPTY_REPLACE_WITH_CIR_ANNOTATION
-            else
-                createReplaceWithAnnotation(this, imports)
+        private fun String.toReplaceWithValue(imports: List<String>): CirAnnotation =
+            createReplaceWithAnnotation(this, imports)
 
         private inline fun Map<Name, ConstantValue<*>>.getString(name: Name): String? =
             (this[name] as? StringValue)?.value
diff --git a/native/commonizer/testData/functionCommonization/annotations/commonized/common/package_root.kt b/native/commonizer/testData/functionCommonization/annotations/commonized/common/package_root.kt
new file mode 100644
index 00000000000..ce54f4ef979
--- /dev/null
+++ b/native/commonizer/testData/functionCommonization/annotations/commonized/common/package_root.kt
@@ -0,0 +1,45 @@
+expect class Holder() {
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunction1()
+
+    @Deprecated("See concrete deprecation messages in actual declarations")
+    expect fun deprecatedFunctionWithCustomizedAnnotation1()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation2()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation3()
+    @Deprecated("This function is deprecated", level = DeprecationLevel.ERROR)
+    expect fun deprecatedFunctionWithCustomizedAnnotation4()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation5()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation6()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation7()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation8()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation9()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation10()
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    expect fun deprecatedFunctionWithCustomizedAnnotation11()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation12()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation13()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation14()
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    expect fun deprecatedFunctionWithCustomizedAnnotation15()
+    @Deprecated("This function is deprecated")
+    expect fun deprecatedFunctionWithCustomizedAnnotation16()
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation17() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation18() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation19() {}
+
+    expect fun nonDeprecatedFunction1()
+}
diff --git a/native/commonizer/testData/functionCommonization/annotations/commonized/js/package_root.kt b/native/commonizer/testData/functionCommonization/annotations/commonized/js/package_root.kt
new file mode 100644
index 00000000000..33068c11803
--- /dev/null
+++ b/native/commonizer/testData/functionCommonization/annotations/commonized/js/package_root.kt
@@ -0,0 +1,48 @@
+actual class Holder actual constructor() {
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunction1() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunction2() {}
+
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunctionWithCustomizedAnnotation1() {}
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunctionWithCustomizedAnnotation2() {}
+    @Deprecated("This function is deprecated", level = DeprecationLevel.WARNING)
+    actual fun deprecatedFunctionWithCustomizedAnnotation3() {}
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunctionWithCustomizedAnnotation4() {}
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunctionWithCustomizedAnnotation5() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    actual fun deprecatedFunctionWithCustomizedAnnotation6() {}
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunctionWithCustomizedAnnotation7() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    actual fun deprecatedFunctionWithCustomizedAnnotation8() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = emptyArray()))
+    actual fun deprecatedFunctionWithCustomizedAnnotation9() {}
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunctionWithCustomizedAnnotation10() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    actual fun deprecatedFunctionWithCustomizedAnnotation11() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("bar()"))
+    actual fun deprecatedFunctionWithCustomizedAnnotation12() {}
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunctionWithCustomizedAnnotation13() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    actual fun deprecatedFunctionWithCustomizedAnnotation14() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation15() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.bar")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation16() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation17() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.bar")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation18() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("bar()", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation19() {}
+
+    actual fun nonDeprecatedFunction1() {}
+    fun nonDeprecatedFunction2() {}
+}
diff --git a/native/commonizer/testData/functionCommonization/annotations/commonized/jvm/package_root.kt b/native/commonizer/testData/functionCommonization/annotations/commonized/jvm/package_root.kt
new file mode 100644
index 00000000000..4661283164e
--- /dev/null
+++ b/native/commonizer/testData/functionCommonization/annotations/commonized/jvm/package_root.kt
@@ -0,0 +1,48 @@
+actual class Holder actual constructor() {
+    @Deprecated("This function is deprecated")
+    actual fun deprecatedFunction1() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunction3() {}
+
+    @Deprecated("This function is deprecated as well")
+    actual fun deprecatedFunctionWithCustomizedAnnotation1() {}
+    @Deprecated("This function is deprecated", level = DeprecationLevel.WARNING)
+    actual fun deprecatedFunctionWithCustomizedAnnotation2() {}
+    @Deprecated("This function is deprecated", level = DeprecationLevel.WARNING)
+    actual fun deprecatedFunctionWithCustomizedAnnotation3() {}
+    @Deprecated("This function is deprecated", level = DeprecationLevel.ERROR)
+    actual fun deprecatedFunctionWithCustomizedAnnotation4() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    actual fun deprecatedFunctionWithCustomizedAnnotation5() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    actual fun deprecatedFunctionWithCustomizedAnnotation6() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = emptyArray()))
+    actual fun deprecatedFunctionWithCustomizedAnnotation7() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = emptyArray()))
+    actual fun deprecatedFunctionWithCustomizedAnnotation8() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = emptyArray()))
+    actual fun deprecatedFunctionWithCustomizedAnnotation9() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    actual fun deprecatedFunctionWithCustomizedAnnotation10() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    actual fun deprecatedFunctionWithCustomizedAnnotation11() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    actual fun deprecatedFunctionWithCustomizedAnnotation12() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation13() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation14() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation15() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation16() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation17() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation18() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    actual fun deprecatedFunctionWithCustomizedAnnotation19() {}
+
+    actual fun nonDeprecatedFunction1() {}
+    fun nonDeprecatedFunction3() {}
+}
diff --git a/native/commonizer/testData/functionCommonization/annotations/original/js/package_root.kt b/native/commonizer/testData/functionCommonization/annotations/original/js/package_root.kt
new file mode 100644
index 00000000000..84376d32918
--- /dev/null
+++ b/native/commonizer/testData/functionCommonization/annotations/original/js/package_root.kt
@@ -0,0 +1,53 @@
+@Deprecated("This function is deprecated")
+fun deprecatedFunction1() {}
+@Deprecated("This function is deprecated")
+fun deprecatedFunction2() {}
+
+class Holder {
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunction1() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunction2() {}
+
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation1() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation2() {}
+    @Deprecated("This function is deprecated", level = DeprecationLevel.WARNING)
+    fun deprecatedFunctionWithCustomizedAnnotation3() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation4() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation5() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    fun deprecatedFunctionWithCustomizedAnnotation6() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation7() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    fun deprecatedFunctionWithCustomizedAnnotation8() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = emptyArray()))
+    fun deprecatedFunctionWithCustomizedAnnotation9() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation10() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    fun deprecatedFunctionWithCustomizedAnnotation11() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("bar()"))
+    fun deprecatedFunctionWithCustomizedAnnotation12() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunctionWithCustomizedAnnotation13() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    fun deprecatedFunctionWithCustomizedAnnotation14() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation15() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.bar")))
+    fun deprecatedFunctionWithCustomizedAnnotation16() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation17() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.bar")))
+    fun deprecatedFunctionWithCustomizedAnnotation18() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("bar()", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation19() {}
+
+    fun nonDeprecatedFunction1() {}
+    fun nonDeprecatedFunction2() {}
+}
diff --git a/native/commonizer/testData/functionCommonization/annotations/original/jvm/package_root.kt b/native/commonizer/testData/functionCommonization/annotations/original/jvm/package_root.kt
new file mode 100644
index 00000000000..8eb18b4dae0
--- /dev/null
+++ b/native/commonizer/testData/functionCommonization/annotations/original/jvm/package_root.kt
@@ -0,0 +1,53 @@
+@Deprecated("This function is deprecated")
+fun deprecatedFunction1() {}
+@Deprecated("This function is deprecated")
+fun deprecatedFunction3() {}
+
+class Holder {
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunction1() {}
+    @Deprecated("This function is deprecated")
+    fun deprecatedFunction3() {}
+
+    @Deprecated("This function is deprecated as well")
+    fun deprecatedFunctionWithCustomizedAnnotation1() {}
+    @Deprecated("This function is deprecated", level = DeprecationLevel.WARNING)
+    fun deprecatedFunctionWithCustomizedAnnotation2() {}
+    @Deprecated("This function is deprecated", level = DeprecationLevel.WARNING)
+    fun deprecatedFunctionWithCustomizedAnnotation3() {}
+    @Deprecated("This function is deprecated", level = DeprecationLevel.ERROR)
+    fun deprecatedFunctionWithCustomizedAnnotation4() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    fun deprecatedFunctionWithCustomizedAnnotation5() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith(""))
+    fun deprecatedFunctionWithCustomizedAnnotation6() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = emptyArray()))
+    fun deprecatedFunctionWithCustomizedAnnotation7() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = emptyArray()))
+    fun deprecatedFunctionWithCustomizedAnnotation8() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = emptyArray()))
+    fun deprecatedFunctionWithCustomizedAnnotation9() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    fun deprecatedFunctionWithCustomizedAnnotation10() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    fun deprecatedFunctionWithCustomizedAnnotation11() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()"))
+    fun deprecatedFunctionWithCustomizedAnnotation12() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation13() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation14() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation15() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation16() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation17() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation18() {}
+    @Deprecated("This function is deprecated", replaceWith = ReplaceWith("foo()", imports = arrayOf("org.sample.foo")))
+    fun deprecatedFunctionWithCustomizedAnnotation19() {}
+
+    fun nonDeprecatedFunction1() {}
+    fun nonDeprecatedFunction3() {}
+}
diff --git a/native/commonizer/testData/functionCommonization/specifics/commonized/common/package_root.kt b/native/commonizer/testData/functionCommonization/specifics/commonized/common/package_root.kt
index 4711ca2507e..43d5aa82a9f 100644
--- a/native/commonizer/testData/functionCommonization/specifics/commonized/common/package_root.kt
+++ b/native/commonizer/testData/functionCommonization/specifics/commonized/common/package_root.kt
@@ -16,8 +16,3 @@ expect fun externalFunction2()
 
 expect inline fun inlineFunction1() {}
 expect fun inlineFunction2() {}
-
-expect class Holder() {
-    expect fun deprecatedFunction1()
-    expect fun nonDeprecatedFunction1()
-}
diff --git a/native/commonizer/testData/functionCommonization/specifics/commonized/js/package_root.kt b/native/commonizer/testData/functionCommonization/specifics/commonized/js/package_root.kt
index c07798f3e7d..b4d1d29b05b 100644
--- a/native/commonizer/testData/functionCommonization/specifics/commonized/js/package_root.kt
+++ b/native/commonizer/testData/functionCommonization/specifics/commonized/js/package_root.kt
@@ -17,13 +17,3 @@ actual external fun externalFunction2()
 
 actual inline fun inlineFunction1() {}
 actual inline fun inlineFunction2() {}
-
-actual class Holder actual constructor() {
-    @Deprecated("This function is deprecated")
-    actual fun deprecatedFunction1() {}
-    @Deprecated("This function is deprecated")
-    fun deprecatedFunction2() {}
-
-    actual fun nonDeprecatedFunction1() {}
-    fun nonDeprecatedFunction2() {}
-}
diff --git a/native/commonizer/testData/functionCommonization/specifics/commonized/jvm/package_root.kt b/native/commonizer/testData/functionCommonization/specifics/commonized/jvm/package_root.kt
index 0eb81473183..9559cf2288a 100644
--- a/native/commonizer/testData/functionCommonization/specifics/commonized/jvm/package_root.kt
+++ b/native/commonizer/testData/functionCommonization/specifics/commonized/jvm/package_root.kt
@@ -17,13 +17,3 @@ actual fun externalFunction2() {}
 
 actual inline fun inlineFunction1() {}
 actual fun inlineFunction2() {}
-
-actual class Holder actual constructor() {
-    @Deprecated("This function is deprecated")
-    actual fun deprecatedFunction1() {}
-    @Deprecated("This function is deprecated")
-    fun deprecatedFunction3() {}
-
-    actual fun nonDeprecatedFunction1() {}
-    fun nonDeprecatedFunction3() {}
-}
diff --git a/native/commonizer/testData/functionCommonization/specifics/original/js/package_root.kt b/native/commonizer/testData/functionCommonization/specifics/original/js/package_root.kt
index b0580e2367c..c3f22b47b56 100644
--- a/native/commonizer/testData/functionCommonization/specifics/original/js/package_root.kt
+++ b/native/commonizer/testData/functionCommonization/specifics/original/js/package_root.kt
@@ -17,18 +17,3 @@ external fun externalFunction2()
 
 inline fun inlineFunction1() {}
 inline fun inlineFunction2() {}
-
-@Deprecated("This function is deprecated")
-fun deprecatedFunction1() {}
-@Deprecated("This function is deprecated")
-fun deprecatedFunction2() {}
-
-class Holder {
-    @Deprecated("This function is deprecated")
-    fun deprecatedFunction1() {}
-    @Deprecated("This function is deprecated")
-    fun deprecatedFunction2() {}
-
-    fun nonDeprecatedFunction1() {}
-    fun nonDeprecatedFunction2() {}
-}
diff --git a/native/commonizer/testData/functionCommonization/specifics/original/jvm/package_root.kt b/native/commonizer/testData/functionCommonization/specifics/original/jvm/package_root.kt
index 9bd00b7f5fa..59b0f9d204c 100644
--- a/native/commonizer/testData/functionCommonization/specifics/original/jvm/package_root.kt
+++ b/native/commonizer/testData/functionCommonization/specifics/original/jvm/package_root.kt
@@ -17,18 +17,3 @@ fun externalFunction2() {}
 
 inline fun inlineFunction1() {}
 fun inlineFunction2() {}
-
-@Deprecated("This function is deprecated")
-fun deprecatedFunction1() {}
-@Deprecated("This function is deprecated")
-fun deprecatedFunction3() {}
-
-class Holder {
-    @Deprecated("This function is deprecated")
-    fun deprecatedFunction1() {}
-    @Deprecated("This function is deprecated")
-    fun deprecatedFunction3() {}
-
-    fun nonDeprecatedFunction1() {}
-    fun nonDeprecatedFunction3() {}
-}
diff --git a/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/FunctionCommonizationFromSourcesTest.kt b/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/FunctionCommonizationFromSourcesTest.kt
index 2e103ad2f2f..a3469857839 100644
--- a/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/FunctionCommonizationFromSourcesTest.kt
+++ b/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/FunctionCommonizationFromSourcesTest.kt
@@ -12,5 +12,7 @@ class FunctionCommonizationFromSourcesTest : AbstractCommonizationFromSourcesTes
 
     fun testValueParameters() = doTestSuccessfulCommonization()
 
+    fun testAnnotations() = doTestSuccessfulCommonization()
+
     fun testSpecifics() = doTestSuccessfulCommonization()
 }
diff --git a/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/core/AnnotationsCommonizerTest.kt b/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/core/AnnotationsCommonizerTest.kt
new file mode 100644
index 00000000000..a391dbe4907
--- /dev/null
+++ b/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/core/AnnotationsCommonizerTest.kt
@@ -0,0 +1,330 @@
+/*
+ * Copyright 2010-2020 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.descriptors.commonizer.core
+
+import org.jetbrains.kotlin.descriptors.commonizer.mergedtree.ir.CirAnnotation
+import org.jetbrains.kotlin.name.ClassId
+import org.jetbrains.kotlin.name.FqName
+import org.jetbrains.kotlin.name.Name
+import org.jetbrains.kotlin.resolve.constants.ArrayValue
+import org.jetbrains.kotlin.resolve.constants.ConstantValue
+import org.jetbrains.kotlin.resolve.constants.EnumValue
+import org.jetbrains.kotlin.resolve.constants.StringValue
+import org.junit.Test
+import kotlin.DeprecationLevel.*
+
+class AnnotationsCommonizerTest : AbstractCommonizerTest<List<CirAnnotation>, List<CirAnnotation>>() {
+
+    @Test
+    fun noAnnotations() = doTestSuccess(
+        expected = emptyList(),
+        emptyList(),
+        emptyList(),
+        emptyList()
+    )
+
+    @Test
+    fun noRelevantAnnotations1() = doTestSuccess(
+        expected = emptyList(),
+        emptyList(),
+        emptyList(),
+        listOf(mockAnnotation("org.sample.Foo"))
+    )
+
+    @Test
+    fun noRelevantAnnotations2() = doTestSuccess(
+        expected = emptyList(),
+        listOf(mockAnnotation("org.sample.Foo")),
+        emptyList(),
+        emptyList()
+    )
+
+    @Test
+    fun noRelevantAnnotations3() = doTestSuccess(
+        expected = emptyList(),
+        listOf(mockAnnotation("org.sample.Foo")),
+        listOf(mockAnnotation("org.sample.Foo")),
+        listOf(mockAnnotation("org.sample.Foo"))
+    )
+
+    @Test
+    fun noRelevantAnnotations4() = doTestSuccess(
+        expected = emptyList(),
+        listOf(mockAnnotation("org.sample.Foo")),
+        listOf(mockAnnotation("org.sample.Bar")),
+        listOf(mockAnnotation("org.sample.Baz"))
+    )
+
+    @Test
+    fun noRelevantAnnotations5() = doTestSuccess(
+        expected = emptyList(),
+        listOf(mockAnnotation("kotlin.PublishedApi")),
+        listOf(mockAnnotation("kotlin.PublishedApi")),
+        listOf(mockAnnotation("kotlin.PublishedApi"))
+    )
+
+    @Test
+    fun sameMessages() = doTestSuccess(
+        expected = listOf(mockDeprecated(message = "please don't use it because ...")),
+        listOf(mockDeprecated(message = "please don't use it because ...")),
+        listOf(mockDeprecated(message = "please don't use it because ...")),
+        listOf(mockDeprecated(message = "please don't use it because ..."))
+    )
+
+    @Test
+    fun differentMessages() = doTestSuccess(
+        expected = listOf(mockDeprecated(message = AnnotationsCommonizer.FALLBACK_MESSAGE)),
+        listOf(mockDeprecated(message = "please don't use it because ...")),
+        listOf(mockDeprecated(message = "it should not be used due to ...")),
+        listOf(mockDeprecated(message = "please don't use it because ..."))
+    )
+
+    @Test
+    fun sameLevels1() = doTestSuccess(
+        expected = listOf(mockDeprecated(level = WARNING)),
+        listOf(mockDeprecated(level = WARNING)),
+        listOf(mockDeprecated(level = WARNING)),
+        listOf(mockDeprecated(level = WARNING))
+    )
+
+    @Test
+    fun sameLevels2() = doTestSuccess(
+        expected = listOf(mockDeprecated(level = ERROR)),
+        listOf(mockDeprecated(level = ERROR)),
+        listOf(mockDeprecated(level = ERROR)),
+        listOf(mockDeprecated(level = ERROR))
+    )
+
+    @Test
+    fun sameLevels3() = doTestSuccess(
+        expected = listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = HIDDEN))
+    )
+
+    @Test
+    fun differentLevels1() = doTestSuccess(
+        expected = listOf(mockDeprecated(level = ERROR)),
+        listOf(mockDeprecated(level = WARNING)),
+        listOf(mockDeprecated(level = ERROR)),
+        listOf(mockDeprecated(level = WARNING))
+    )
+
+    @Test
+    fun differentLevels2() = doTestSuccess(
+        expected = listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = WARNING)),
+        listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = WARNING))
+    )
+
+    @Test
+    fun differentLevels3() = doTestSuccess(
+        expected = listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = ERROR)),
+        listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = ERROR))
+    )
+
+    @Test
+    fun differentLevels4() = doTestSuccess(
+        expected = listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = ERROR)),
+        listOf(mockDeprecated(level = HIDDEN)),
+        listOf(mockDeprecated(level = WARNING))
+    )
+
+    @Test
+    fun sameReplaceWith1() = doTestSuccess(
+        expected = listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = emptyArray()
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = emptyArray()
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = emptyArray()
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = emptyArray()
+            )
+        )
+    )
+
+    @Test
+    fun sameReplaceWith2() = doTestSuccess(
+        expected = listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo")
+            )
+        )
+    )
+
+    @Test
+    fun sameReplaceWith3() = doTestSuccess(
+        expected = listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        )
+    )
+
+    @Test
+    fun differentReplaceWith1() = doTestSuccess(
+        expected = listOf(
+            mockDeprecated(
+                replaceWithExpression = "",
+                replaceWithImports = emptyArray()
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Bar",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        )
+    )
+
+    @Test
+    fun differentReplaceWith2() = doTestSuccess(
+        expected = listOf(
+            mockDeprecated(
+                replaceWithExpression = "",
+                replaceWithImports = emptyArray()
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo")
+            )
+        ),
+        listOf(
+            mockDeprecated(
+                replaceWithExpression = "org.sample.Foo",
+                replaceWithImports = arrayOf("org.sample.Foo", "org.sample.foo.*")
+            )
+        )
+    )
+
+    override fun createCommonizer() = AnnotationsCommonizer()
+
+    override fun isEqual(a: List<CirAnnotation>?, b: List<CirAnnotation>?): Boolean {
+        return super.isEqual(a, b)
+    }
+}
+
+private fun mockAnnotation(
+    fqName: String,
+    constantValueArguments: Map<Name, ConstantValue<*>> = emptyMap(),
+    annotationValueArguments: Map<Name, CirAnnotation> = emptyMap()
+): CirAnnotation = CirAnnotation.create(
+    fqName = FqName(fqName),
+    constantValueArguments = constantValueArguments,
+    annotationValueArguments = annotationValueArguments
+)
+
+private fun mockDeprecated(
+    message: String = "",
+    level: DeprecationLevel = WARNING,
+    replaceWithExpression: String = "",
+    replaceWithImports: Array<String> = emptyArray()
+): CirAnnotation {
+    val replaceWith: CirAnnotation? = if (replaceWithExpression.isNotEmpty() || replaceWithImports.isNotEmpty()) {
+        mockAnnotation(
+            fqName = "kotlin.ReplaceWith",
+            constantValueArguments = mapOf(
+                Name.identifier("expression") to StringValue(replaceWithExpression),
+                Name.identifier("imports") to ArrayValue(replaceWithImports.map(::StringValue)) {
+                    it.builtIns.getArrayElementType(it.builtIns.stringType)
+                }
+            ),
+            annotationValueArguments = emptyMap()
+        )
+    } else null
+
+    return mockAnnotation(
+        fqName = "kotlin.Deprecated",
+        constantValueArguments = HashMap<Name, ConstantValue<*>>().apply {
+            this[Name.identifier("message")] = StringValue(message)
+
+            if (level != WARNING)
+                this[Name.identifier("level")] = EnumValue(
+                    ClassId.topLevel(FqName("kotlin.DeprecationLevel")),
+                    Name.identifier(level.name)
+                )
+        },
+        annotationValueArguments = if (replaceWith != null) mapOf(Name.identifier("replaceWith") to replaceWith) else emptyMap()
+    )
+}
diff --git a/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/utils/ComparingDeclarationsVisitor.kt b/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/utils/ComparingDeclarationsVisitor.kt
index 563f8845bba..ac8a3954a1e 100644
--- a/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/utils/ComparingDeclarationsVisitor.kt
+++ b/native/commonizer/tests/org/jetbrains/kotlin/descriptors/commonizer/utils/ComparingDeclarationsVisitor.kt
@@ -11,6 +11,7 @@ import org.jetbrains.kotlin.descriptors.annotations.Annotations
 import org.jetbrains.kotlin.descriptors.commonizer.mergedtree.*
 import org.jetbrains.kotlin.name.FqName
 import org.jetbrains.kotlin.name.Name
+import org.jetbrains.kotlin.resolve.constants.AnnotationValue
 import org.jetbrains.kotlin.resolve.constants.ConstantValue
 import org.jetbrains.kotlin.resolve.descriptorUtil.fqNameSafe
 import org.jetbrains.kotlin.resolve.scopes.MemberScope
@@ -429,6 +430,7 @@ internal class ComparingDeclarationsVisitor(
                 constantValue = expectedValueArgument,
                 constantName = name,
                 owner = expected,
+                allowAnnotationValues = true,
                 onError = { context.fail(it) }
             )
 
@@ -437,11 +439,26 @@ internal class ComparingDeclarationsVisitor(
                 constantValue = actualValueArgument,
                 constantName = name,
                 owner = actual,
+                allowAnnotationValues = true,
                 onError = { context.fail(it) }
             )
 
-            context.assertEquals(expectedValueArgument::class, actualValueArgument::class, "annotation value argument classe")
-            context.assertEquals(expectedValueArgument.value, actualValueArgument.value, "annotation value argument value")
+            context.assertEquals(expectedValueArgument::class, actualValueArgument::class, "annotation value argument value")
+            if (expectedValueArgument is AnnotationValue && actualValueArgument is AnnotationValue) {
+                context.assertEquals(
+                    expectedValueArgument.value.fqName,
+                    actualValueArgument.value.fqName,
+                    "nested annotation FQ name"
+                )
+
+                visitAnnotation(
+                    expectedValueArgument.value,
+                    actualValueArgument.value,
+                    context.nextLevel("Annotation ${expectedValueArgument.value.fqName}")
+                )
+            } else {
+                context.assertEquals(expectedValueArgument.value, actualValueArgument.value, "annotation value argument value")
+            }
         }
     }