diff --git a/compiler/backend/src/org/jetbrains/kotlin/codegen/AsmUtil.java b/compiler/backend/src/org/jetbrains/kotlin/codegen/AsmUtil.java
index afb41be4be6..f9358b79b25 100644
--- a/compiler/backend/src/org/jetbrains/kotlin/codegen/AsmUtil.java
+++ b/compiler/backend/src/org/jetbrains/kotlin/codegen/AsmUtil.java
@@ -59,7 +59,6 @@ import static org.jetbrains.kotlin.codegen.CodegenUtilKt.isToArrayFromCollection
 import static org.jetbrains.kotlin.codegen.JvmCodegenUtil.isConstOrHasJvmFieldAnnotation;
 import static org.jetbrains.kotlin.codegen.JvmCodegenUtil.isJvmInterface;
 import static org.jetbrains.kotlin.descriptors.annotations.AnnotationUtilKt.isEffectivelyInlineOnly;
-import static org.jetbrains.kotlin.descriptors.annotations.AnnotationUtilKt.isInlineOnly;
 import static org.jetbrains.kotlin.resolve.DescriptorUtils.*;
 import static org.jetbrains.kotlin.resolve.annotations.AnnotationUtilKt.hasJvmDefaultAnnotation;
 import static org.jetbrains.kotlin.resolve.jvm.AsmTypes.*;
@@ -239,10 +238,6 @@ public class AsmUtil {
             flags |= ACC_SYNTHETIC;
         }
 
-        if (isEffectivelyInlineOnly(functionDescriptor, false)) {
-            flags |= ACC_SYNTHETIC;
-        }
-
         return flags;
     }
 
@@ -351,8 +346,7 @@ public class AsmUtil {
         DeclarationDescriptor containingDeclaration = memberDescriptor.getContainingDeclaration();
         Visibility memberVisibility = memberDescriptor.getVisibility();
 
-        if (isInlineOnly(memberDescriptor)) {
-            //inline only functions are only allowed in stdlib and it's never shrinked
+        if (isEffectivelyInlineOnly(memberDescriptor)) {
             return ACC_PRIVATE;
         }
 
diff --git a/compiler/testData/codegen/bytecodeListing/InlineOnlyMultifile.txt b/compiler/testData/codegen/bytecodeListing/InlineOnlyMultifile.txt
index 77dbae2fb25..17646e6f65f 100644
--- a/compiler/testData/codegen/bytecodeListing/InlineOnlyMultifile.txt
+++ b/compiler/testData/codegen/bytecodeListing/InlineOnlyMultifile.txt
@@ -1,12 +1,11 @@
 @kotlin.Metadata
 public final class test/Foo {
     public final static method foo(): void
-    public synthetic final static method inlineOnly(): void
 }
 
 @kotlin.Metadata
 synthetic final class test/Foo__InlineOnlyMultifileKt {
     public final static method foo(): void
-    public synthetic final static method inlineOnly(): void
+    private final static method inlineOnly(): void
     private final static @kotlin.internal.InlineOnly method inlineOnlyAnnotated(): void
 }
diff --git a/compiler/testData/codegen/bytecodeListing/InlineOnlyPropertyMultifile.txt b/compiler/testData/codegen/bytecodeListing/InlineOnlyPropertyMultifile.txt
index 115a3768d13..5df386f0305 100644
--- a/compiler/testData/codegen/bytecodeListing/InlineOnlyPropertyMultifile.txt
+++ b/compiler/testData/codegen/bytecodeListing/InlineOnlyPropertyMultifile.txt
@@ -1,13 +1,12 @@
 @kotlin.Metadata
 public final class test/Foo {
     public final static method foo(): void
-    public synthetic final static @org.jetbrains.annotations.NotNull method getExtProp(p0: java.lang.Object): java.lang.String
 }
 
 @kotlin.Metadata
 synthetic final class test/Foo__InlineOnlyPropertyMultifileKt {
     public final static method foo(): void
-    public synthetic final static @org.jetbrains.annotations.NotNull method getExtProp(p0: java.lang.Object): java.lang.String
+    private final static method getExtProp(p0: java.lang.Object): java.lang.String
     private final static method getProp(): java.lang.String
     public synthetic deprecated static @kotlin.internal.InlineOnly method prop$annotations(): void
     private final static method setProp(p0: java.lang.String): void
diff --git a/compiler/testData/codegen/bytecodeListing/inlineOnly.txt b/compiler/testData/codegen/bytecodeListing/inlineOnly.txt
index 16379d00066..0864d92b1f4 100644
--- a/compiler/testData/codegen/bytecodeListing/inlineOnly.txt
+++ b/compiler/testData/codegen/bytecodeListing/inlineOnly.txt
@@ -2,13 +2,13 @@
 public final class Foo {
     public method <init>(): void
     public final method bar(): void
-    public synthetic final method baz(): void
+    private final method baz(): void
     private final @kotlin.internal.InlineOnly method foo(): void
 }
 
 @kotlin.Metadata
 public final class InlineOnlyKt {
     public final static method bar(): void
-    public synthetic final static method baz(): void
+    private final static method baz(): void
     private final static @kotlin.internal.InlineOnly method foo(): void
 }
diff --git a/compiler/testData/codegen/bytecodeListing/inlineOnlyProperty.txt b/compiler/testData/codegen/bytecodeListing/inlineOnlyProperty.txt
index 050bf673a6d..ef353da9bca 100644
--- a/compiler/testData/codegen/bytecodeListing/inlineOnlyProperty.txt
+++ b/compiler/testData/codegen/bytecodeListing/inlineOnlyProperty.txt
@@ -1,7 +1,7 @@
 @kotlin.Metadata
 public final class Foo {
     public method <init>(): void
-    public synthetic final @org.jetbrains.annotations.NotNull method getExtProp(p0: java.lang.Object): java.lang.String
+    private final method getExtProp(p0: java.lang.Object): java.lang.String
     private final method getProp(): java.lang.String
     private final @kotlin.internal.InlineOnly method getProp2(): java.lang.String
     public synthetic deprecated static @kotlin.internal.InlineOnly method prop$annotations(): void
@@ -11,7 +11,7 @@ public final class Foo {
 
 @kotlin.Metadata
 public final class InlineOnlyPropertyKt {
-    public synthetic final static @org.jetbrains.annotations.NotNull method getExtProp(p0: java.lang.Object): java.lang.String
+    private final static method getExtProp(p0: java.lang.Object): java.lang.String
     private final static method getProp(): java.lang.String
     private final static @kotlin.internal.InlineOnly method getProp2(): java.lang.String
     public synthetic deprecated static @kotlin.internal.InlineOnly method prop$annotations(): void
diff --git a/compiler/testData/codegen/bytecodeListing/samAdapterAndInlinedOne.txt b/compiler/testData/codegen/bytecodeListing/samAdapterAndInlinedOne.txt
index fc00fab2b09..f1169324842 100644
--- a/compiler/testData/codegen/bytecodeListing/samAdapterAndInlinedOne.txt
+++ b/compiler/testData/codegen/bytecodeListing/samAdapterAndInlinedOne.txt
@@ -14,7 +14,7 @@ final class test/SamAdapterAndInlinedOneKt$sam$java_lang_Runnable$0 {
 
 @kotlin.Metadata
 public final class test/SamAdapterAndInlinedOneKt {
-    public synthetic final static @org.jetbrains.annotations.NotNull method makeRunnable(@org.jetbrains.annotations.NotNull p0: kotlin.jvm.functions.Function0): java.lang.Runnable
+    private final static method makeRunnable(p0: kotlin.jvm.functions.Function0): java.lang.Runnable
     public final static @org.jetbrains.annotations.NotNull method makeRunnable2(@org.jetbrains.annotations.NotNull p0: kotlin.jvm.functions.Function0): java.lang.Runnable
     public final static @org.jetbrains.annotations.NotNull method noInline(@org.jetbrains.annotations.NotNull p0: kotlin.jvm.functions.Function0): java.lang.Runnable
     public final static @org.jetbrains.annotations.NotNull method noInline2(@org.jetbrains.annotations.NotNull p0: kotlin.jvm.functions.Function0): java.lang.Runnable
diff --git a/core/descriptors/src/org/jetbrains/kotlin/descriptors/annotations/annotationUtil.kt b/core/descriptors/src/org/jetbrains/kotlin/descriptors/annotations/annotationUtil.kt
index 5ee2ad9c7f0..223613b5a3e 100644
--- a/core/descriptors/src/org/jetbrains/kotlin/descriptors/annotations/annotationUtil.kt
+++ b/core/descriptors/src/org/jetbrains/kotlin/descriptors/annotations/annotationUtil.kt
@@ -69,13 +69,11 @@ private val REPLACE_WITH_IMPORTS_NAME = Name.identifier("imports")
 
 private val INLINE_ONLY_ANNOTATION_FQ_NAME = FqName("kotlin.internal.InlineOnly")
 
-fun MemberDescriptor.isInlineOnlyOrReifiable(checkInlineOnly: Boolean = true): Boolean =
-        this is CallableMemberDescriptor &&
-        (isReifiable() || DescriptorUtils.getDirectMember(this).isReifiable() || (checkInlineOnly && isInlineOnly()))
+fun MemberDescriptor.isInlineOnlyOrReifiable(): Boolean =
+        this is CallableMemberDescriptor && (isReifiable() || DescriptorUtils.getDirectMember(this).isReifiable() || isInlineOnly())
 
-@JvmOverloads
-fun MemberDescriptor.isEffectivelyInlineOnly(checkInlineOnly: Boolean = true): Boolean =
-        isInlineOnlyOrReifiable(checkInlineOnly) || safeAs<FunctionDescriptor>()?.let { it.isSuspend && it.isInline } == true
+fun MemberDescriptor.isEffectivelyInlineOnly(): Boolean =
+        isInlineOnlyOrReifiable() || safeAs<FunctionDescriptor>()?.let { it.isSuspend && it.isInline } == true
 
 fun MemberDescriptor.isInlineOnly(): Boolean {
     if (this !is FunctionDescriptor ||