diff --git a/compiler/psi/src/org/jetbrains/kotlin/psi/stubs/KotlinStubVersions.kt b/compiler/psi/src/org/jetbrains/kotlin/psi/stubs/KotlinStubVersions.kt
index 33a69bb9066..4d7bb243c65 100644
--- a/compiler/psi/src/org/jetbrains/kotlin/psi/stubs/KotlinStubVersions.kt
+++ b/compiler/psi/src/org/jetbrains/kotlin/psi/stubs/KotlinStubVersions.kt
@@ -28,7 +28,7 @@ object KotlinStubVersions {
     // Binary stub version should be increased if stub format (org.jetbrains.kotlin.psi.stubs.impl) is changed
     //      or changes are made to the core stub building code (org.jetbrains.kotlin.idea.decompiler.stubBuilder).
     // Increasing this version will lead to reindexing of all binary files that are potentially kotlin binaries (including all class files).
-    private const val BINARY_STUB_VERSION = 75
+    private const val BINARY_STUB_VERSION = 76
 
     // Classfile stub version should be increased if changes are made to classfile stub building subsystem (org.jetbrains.kotlin.idea.decompiler.classFile)
     // Increasing this version will lead to reindexing of all classfiles.
diff --git a/idea/idea-analysis/src/org/jetbrains/kotlin/idea/decompiler/stubBuilder/TypeClsStubBuilder.kt b/idea/idea-analysis/src/org/jetbrains/kotlin/idea/decompiler/stubBuilder/TypeClsStubBuilder.kt
index 87e1a86ca6a..5d3483d9ddf 100644
--- a/idea/idea-analysis/src/org/jetbrains/kotlin/idea/decompiler/stubBuilder/TypeClsStubBuilder.kt
+++ b/idea/idea-analysis/src/org/jetbrains/kotlin/idea/decompiler/stubBuilder/TypeClsStubBuilder.kt
@@ -252,11 +252,14 @@ class TypeClsStubBuilder(private val c: ClsStubBuilderContext) {
             }
 
             val modifierList = createModifierListStub(parameterStub, modifiers)
-            val parameterAnnotations = c.components.annotationLoader.loadValueParameterAnnotations(
-                container, callableProto, callableProto.annotatedCallableKind, index, valueParameterProto
-            )
-            if (parameterAnnotations.isNotEmpty()) {
-                createAnnotationStubs(parameterAnnotations, modifierList ?: createEmptyModifierListStub(parameterStub))
+
+            if (Flags.HAS_ANNOTATIONS.get(valueParameterProto.flags)) {
+                val parameterAnnotations = c.components.annotationLoader.loadValueParameterAnnotations(
+                    container, callableProto, callableProto.annotatedCallableKind, index, valueParameterProto
+                )
+                if (parameterAnnotations.isNotEmpty()) {
+                    createAnnotationStubs(parameterAnnotations, modifierList ?: createEmptyModifierListStub(parameterStub))
+                }
             }
 
             createTypeReferenceStub(parameterStub, typeProto)