diff --git a/compiler/fir/java/src/org/jetbrains/kotlin/fir/java/JavaTypeConversion.kt b/compiler/fir/java/src/org/jetbrains/kotlin/fir/java/JavaTypeConversion.kt
index a6dc8107000..6287684ab6a 100644
--- a/compiler/fir/java/src/org/jetbrains/kotlin/fir/java/JavaTypeConversion.kt
+++ b/compiler/fir/java/src/org/jetbrains/kotlin/fir/java/JavaTypeConversion.kt
@@ -78,19 +78,31 @@ internal fun JavaType?.toFirResolvedTypeRef(
 
 private fun JavaType?.toConeKotlinType(
     session: FirSession, javaTypeParameterStack: JavaTypeParameterStack,
-    mode: FirJavaTypeConversionMode
+    mode: FirJavaTypeConversionMode,
+    additionalAnnotations: Collection<JavaAnnotation>? = null
 ): ConeKotlinType =
-    toConeTypeProjection(session, javaTypeParameterStack, Variance.INVARIANT, mode).type
+    toConeTypeProjection(session, javaTypeParameterStack, Variance.INVARIANT, mode, additionalAnnotations).type
         ?: StandardClassIds.Any.toConeFlexibleType(emptyArray(), emptyArray(), ConeAttributes.Empty)
 
 private fun JavaType?.toConeTypeProjection(
     session: FirSession, javaTypeParameterStack: JavaTypeParameterStack,
-    parameterVariance: Variance, mode: FirJavaTypeConversionMode
+    parameterVariance: Variance, mode: FirJavaTypeConversionMode,
+    additionalAnnotations: Collection<JavaAnnotation>? = null
 ): ConeTypeProjection {
-    val attributes = if (this != null && annotations.isNotEmpty())
-        ConeAttributes.create(listOf(CustomAnnotationTypeAttribute(convertAnnotationsToFir(session, javaTypeParameterStack))))
-    else
+    val attributes = if (this != null && (annotations.isNotEmpty() || additionalAnnotations != null)) {
+        val convertedAnnotations = buildList {
+            if (annotations.isNotEmpty()) {
+                addAll(this@toConeTypeProjection.convertAnnotationsToFir(session, javaTypeParameterStack))
+            }
+            if (additionalAnnotations != null) {
+                addAll(additionalAnnotations.convertAnnotationsToFir(session, javaTypeParameterStack))
+            }
+        }
+
+        ConeAttributes.create(listOf(CustomAnnotationTypeAttribute(convertedAnnotations)))
+    } else {
         ConeAttributes.Empty
+    }
 
     return when (this) {
         is JavaClassifierType -> {
@@ -141,7 +153,8 @@ private fun JavaType?.toConeTypeProjection(
             if (bound == null || (parameterVariance != Variance.INVARIANT && parameterVariance != argumentVariance)) {
                 ConeStarProjection
             } else {
-                val boundType = bound.toConeKotlinType(session, javaTypeParameterStack, mode)
+                val nullabilityAnnotationOnWildcard = extractNullabilityAnnotationOnBoundedWildcard(this)?.let(::listOf)
+                val boundType = bound.toConeKotlinType(session, javaTypeParameterStack, mode, nullabilityAnnotationOnWildcard)
                 if (isExtends) ConeKotlinTypeProjectionOut(boundType) else ConeKotlinTypeProjectionIn(boundType)
             }
         }
diff --git a/compiler/fir/java/src/org/jetbrains/kotlin/fir/java/JavaUtils.kt b/compiler/fir/java/src/org/jetbrains/kotlin/fir/java/JavaUtils.kt
index fbfd907fa49..981f8f8dccc 100644
--- a/compiler/fir/java/src/org/jetbrains/kotlin/fir/java/JavaUtils.kt
+++ b/compiler/fir/java/src/org/jetbrains/kotlin/fir/java/JavaUtils.kt
@@ -20,8 +20,11 @@ import org.jetbrains.kotlin.fir.expressions.builder.buildErrorExpression
 import org.jetbrains.kotlin.fir.resolve.transformers.body.resolve.expectedConeType
 import org.jetbrains.kotlin.fir.types.builder.buildResolvedTypeRef
 import org.jetbrains.kotlin.fir.types.createArrayType
+import org.jetbrains.kotlin.load.java.RXJAVA3_ANNOTATIONS
+import org.jetbrains.kotlin.load.java.structure.JavaAnnotation
 import org.jetbrains.kotlin.load.java.structure.JavaClass
 import org.jetbrains.kotlin.load.java.structure.JavaModifierListOwner
+import org.jetbrains.kotlin.load.java.structure.JavaWildcardType
 import org.jetbrains.kotlin.types.ConstantValueKind
 
 internal val JavaModifierListOwner.modality: Modality
@@ -98,3 +101,9 @@ private fun FirConstExpression<*>.setProperType(session: FirSession): FirConstEx
     replaceTypeRef(typeRef)
     return this
 }
+
+// For now, it's supported only for RxJava3 annotations, see KT-53041
+fun extractNullabilityAnnotationOnBoundedWildcard(wildcardType: JavaWildcardType): JavaAnnotation? {
+    require(wildcardType.bound != null) { "Nullability annotations on unbounded wildcards aren't supported" }
+    return wildcardType.annotations.find { annotation -> RXJAVA3_ANNOTATIONS.any { annotation.classId?.asSingleFqName() == it } }
+}
diff --git a/compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests/kt53041.kt b/compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests/kt53041.kt
index 9fcb9225c22..80769187698 100644
--- a/compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests/kt53041.kt
+++ b/compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests/kt53041.kt
@@ -1,5 +1,6 @@
 // FIR_IDENTICAL
 // JVM_TARGET: 1.8
+// TARGET_BACKEND: JVM
 // NULLABILITY_ANNOTATIONS: @io.reactivex.rxjava3.annotations:strict
 // IGNORE_LIGHT_ANALYSIS
 
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/JsCodegenBoxTestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/JsCodegenBoxTestGenerated.java
index cf4b71d8f02..3b97544f323 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/JsCodegenBoxTestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/JsCodegenBoxTestGenerated.java
@@ -21140,12 +21140,6 @@ public class JsCodegenBoxTestGenerated extends AbstractJsCodegenBoxTest {
                 public void testAllFilesPresentInTests() throws Exception {
                     KtTestUtil.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.JS, true);
                 }
-
-                @Test
-                @TestMetadata("kt53041.kt")
-                public void testKt53041() throws Exception {
-                    runTest("compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests/kt53041.kt");
-                }
             }
         }
 
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/IrJsCodegenBoxTestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/IrJsCodegenBoxTestGenerated.java
index 8da8f6fa43e..47a85817fd6 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/IrJsCodegenBoxTestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/IrJsCodegenBoxTestGenerated.java
@@ -21104,12 +21104,6 @@ public class IrJsCodegenBoxTestGenerated extends AbstractIrJsCodegenBoxTest {
                 public void testAllFilesPresentInTests() throws Exception {
                     KtTestUtil.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.JS_IR, true);
                 }
-
-                @Test
-                @TestMetadata("kt53041.kt")
-                public void testKt53041() throws Exception {
-                    runTest("compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests/kt53041.kt");
-                }
             }
         }
 
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/testOld/wasm/semantics/IrCodegenBoxWasmTestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/testOld/wasm/semantics/IrCodegenBoxWasmTestGenerated.java
index 42657aa8b98..941399f5a89 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/testOld/wasm/semantics/IrCodegenBoxWasmTestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/testOld/wasm/semantics/IrCodegenBoxWasmTestGenerated.java
@@ -18733,11 +18733,6 @@ public class IrCodegenBoxWasmTestGenerated extends AbstractIrCodegenBoxWasmTest
                 public void testAllFilesPresentInTests() throws Exception {
                     KtTestUtil.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests"), Pattern.compile("^([^_](.+))\\.kt$"), null, TargetBackend.WASM, true);
                 }
-
-                @TestMetadata("kt53041.kt")
-                public void testKt53041() throws Exception {
-                    runTest("compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests/kt53041.kt");
-                }
             }
         }
 
diff --git a/native/native.tests/tests-gen/org/jetbrains/kotlin/konan/blackboxtest/NativeCodegenBoxTestGenerated.java b/native/native.tests/tests-gen/org/jetbrains/kotlin/konan/blackboxtest/NativeCodegenBoxTestGenerated.java
index c1d22454f17..cfd176145c8 100644
--- a/native/native.tests/tests-gen/org/jetbrains/kotlin/konan/blackboxtest/NativeCodegenBoxTestGenerated.java
+++ b/native/native.tests/tests-gen/org/jetbrains/kotlin/konan/blackboxtest/NativeCodegenBoxTestGenerated.java
@@ -23789,12 +23789,6 @@ public class NativeCodegenBoxTestGenerated extends AbstractNativeCodegenBoxTest
                     public void testAllFilesPresentInTests() throws Exception {
                         KtTestUtil.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.NATIVE, true);
                     }
-
-                    @Test
-                    @TestMetadata("kt53041.kt")
-                    public void testKt53041() throws Exception {
-                        runTest("compiler/testData/codegen/box/javaInterop/foreignAnnotationsTests/tests/kt53041.kt");
-                    }
                 }
             }