diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/SerializableCodegen.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/SerializableCodegen.kt
index cfde3f05396..4072ef73755 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/SerializableCodegen.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/SerializableCodegen.kt
@@ -21,15 +21,13 @@ import org.jetbrains.kotlin.descriptors.ClassDescriptor
 import org.jetbrains.kotlin.descriptors.FunctionDescriptor
 import org.jetbrains.kotlin.resolve.BindingContext
 import org.jetbrains.kotlin.resolve.descriptorUtil.secondaryConstructors
-import org.jetbrains.kotlinx.serialization.compiler.diagnostic.SERIALIZABLE_PROPERTIES
 import org.jetbrains.kotlinx.serialization.compiler.resolve.*
 
 abstract class SerializableCodegen(
     protected val serializableDescriptor: ClassDescriptor,
     bindingContext: BindingContext
 ) : AbstractSerialGenerator(bindingContext, serializableDescriptor) {
-    protected val properties = bindingContext.get(SERIALIZABLE_PROPERTIES, serializableDescriptor)
-        ?: SerializableProperties(serializableDescriptor, bindingContext)
+    protected val properties = bindingContext.serializablePropertiesFor(serializableDescriptor)
 
     fun generate() {
         generateSyntheticInternalConstructor()
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/SerializerCodegen.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/SerializerCodegen.kt
index b3546c1b472..a4a82e52fce 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/SerializerCodegen.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/SerializerCodegen.kt
@@ -31,7 +31,7 @@ abstract class SerializerCodegen(
 ) : AbstractSerialGenerator(bindingContext, serializerDescriptor) {
     val serializableDescriptor: ClassDescriptor = getSerializableClassDescriptorBySerializer(serializerDescriptor)!!
     protected val serialName: String = serializableDescriptor.annotations.serialNameValue ?: serializableDescriptor.fqNameUnsafe.asString()
-    protected val properties = SerializableProperties(serializableDescriptor, bindingContext)
+    protected val properties = bindingContext.serializablePropertiesFor(serializableDescriptor)
     protected val serializableProperties = properties.serializableProperties
 
     private fun checkSerializability() {
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/TypeUtil.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/TypeUtil.kt
index bc03ba50693..b1689955a59 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/TypeUtil.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/common/TypeUtil.kt
@@ -115,12 +115,7 @@ fun AbstractSerialGenerator.findTypeSerializerOrContext(
     annotations.serializableWith(module)?.let { return it.toClassDescriptor }
     additionalSerializersInScopeOfCurrentFile[kType]?.let { return it }
     if (kType in contextualKClassListInCurrentFile) return module.getClassFromSerializationPackage(SpecialBuiltins.contextSerializer)
-    return analyzeSpecialSerializers(module, annotations) ?: findTypeSerializer(module, kType) /*?: throw CompilationException(
-        "Serializer for element of type $kType has not been found.\n" +
-                "To use context serializer as fallback, explicitly annotate element with @ContextualSerialization",
-        null,
-        sourceElement
-    )*/
+    return analyzeSpecialSerializers(module, annotations) ?: findTypeSerializer(module, kType)
 }
 
 fun findTypeSerializer(module: ModuleDescriptor, kType: KotlinType): ClassDescriptor? {
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/ir/SerializableIrGenerator.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/ir/SerializableIrGenerator.kt
index 5194427581c..b1cded3806d 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/ir/SerializableIrGenerator.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/ir/SerializableIrGenerator.kt
@@ -11,8 +11,6 @@ import org.jetbrains.kotlin.ir.IrElement
 import org.jetbrains.kotlin.ir.builders.*
 import org.jetbrains.kotlin.ir.declarations.*
 import org.jetbrains.kotlin.ir.expressions.IrExpression
-import org.jetbrains.kotlin.ir.expressions.IrStatementOrigin
-import org.jetbrains.kotlin.ir.expressions.impl.IrGetValueImpl
 import org.jetbrains.kotlin.ir.expressions.impl.IrDelegatingConstructorCallImpl
 import org.jetbrains.kotlin.ir.util.*
 import org.jetbrains.kotlin.ir.visitors.acceptVoid
@@ -138,7 +136,7 @@ class SerializableIrGenerator(
     ): Int {
         check(superClass.isInternalSerializable)
         val superCtorRef = compilerContext.externalSymbols.serializableSyntheticConstructor(superClass)
-        val superProperties = SerializableProperties(superClass, bindingContext).serializableProperties
+        val superProperties = bindingContext.serializablePropertiesFor(superClass).serializableProperties
         val superSlots = superProperties.bitMaskSlotCount()
         val arguments = allValueParameters.subList(0, superSlots) +
                     allValueParameters.subList(propertiesStart, propertiesStart + superProperties.size) +
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/js/SerializableJsTranslator.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/js/SerializableJsTranslator.kt
index 9897aabc98a..004631b326b 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/js/SerializableJsTranslator.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/js/SerializableJsTranslator.kt
@@ -20,8 +20,8 @@ import org.jetbrains.kotlin.builtins.KotlinBuiltIns
 import org.jetbrains.kotlin.codegen.CompilationException
 import org.jetbrains.kotlin.descriptors.ClassConstructorDescriptor
 import org.jetbrains.kotlin.descriptors.ClassDescriptor
-import org.jetbrains.kotlin.descriptors.PropertyDescriptor
 import org.jetbrains.kotlin.descriptors.FunctionDescriptor
+import org.jetbrains.kotlin.descriptors.PropertyDescriptor
 import org.jetbrains.kotlin.js.backend.ast.*
 import org.jetbrains.kotlin.js.resolve.diagnostics.findPsi
 import org.jetbrains.kotlin.js.translate.context.Namer
@@ -141,7 +141,7 @@ class SerializableJsTranslator(
     ): Int {
         val constrDesc = KSerializerDescriptorResolver.createLoadConstructorDescriptor(superClass, context.bindingContext())
         val constrRef = context.getInnerNameForDescriptor(constrDesc).makeRef()
-        val superProperties = SerializableProperties(superClass, bindingContext).serializableProperties
+        val superProperties = bindingContext.serializablePropertiesFor(superClass).serializableProperties
         val superSlots = superProperties.bitMaskSlotCount()
         val arguments = parameters.subList(0, superSlots) +
                 parameters.subList(propertiesStart, propertiesStart + superProperties.size) +
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/jvm/SerializableCodegenImpl.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/jvm/SerializableCodegenImpl.kt
index 19f2299bac4..66f273ba3bd 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/jvm/SerializableCodegenImpl.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/backend/jvm/SerializableCodegenImpl.kt
@@ -93,7 +93,7 @@ class SerializableCodegenImpl(
         val superClass = serializableDescriptor.getSuperClassOrAny()
         val myPropsStart: Int
         if (superClass.isInternalSerializable) {
-            myPropsStart = SerializableProperties(superClass, classCodegen.bindingContext).serializableProperties.size
+            myPropsStart = bindingContext.serializablePropertiesFor(superClass).serializableProperties.size
             val superTypeArguments =
                 serializableDescriptor.typeConstructor.supertypes.single { it.toClassDescriptor?.isInternalSerializable == true }.arguments
             //super.writeSelf(output, serialDesc)
@@ -259,7 +259,7 @@ class SerializableCodegenImpl(
             invokespecial(superType, "<init>", desc, false)
             return 0 to propStartVar
         } else {
-            val superProps = SerializableProperties(superClass, classCodegen.bindingContext).serializableProperties
+            val superProps = bindingContext.serializablePropertiesFor(superClass).serializableProperties
             val creator = buildInternalConstructorDesc(propStartVar, 1, classCodegen, superProps)
             invokespecial(superType, "<init>", creator, false)
             return superProps.size to propStartVar + superProps.sumBy { it.asmType.size }
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/diagnostic/DeclarationCheckers.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/diagnostic/SerializationPluginDeclarationChecker.kt
similarity index 97%
rename from plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/diagnostic/DeclarationCheckers.kt
rename to plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/diagnostic/SerializationPluginDeclarationChecker.kt
index 7d5daa8837d..77f0da7b9ae 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/diagnostic/DeclarationCheckers.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/diagnostic/SerializationPluginDeclarationChecker.kt
@@ -29,7 +29,6 @@ import org.jetbrains.kotlinx.serialization.compiler.backend.common.primaryConstr
 import org.jetbrains.kotlinx.serialization.compiler.resolve.*
 
 internal val SERIALIZABLE_PROPERTIES: WritableSlice<ClassDescriptor, SerializableProperties> = Slices.createSimpleSlice()
-internal val SERIALIZER_FOR_PROPERTY: WritableSlice<PropertyDescriptor, ClassDescriptor> = Slices.createSimpleSlice()
 
 class SerializationPluginDeclarationChecker : DeclarationChecker {
     override fun check(declaration: KtDeclaration, descriptor: DeclarationDescriptor, context: DeclarationCheckerContext) {
@@ -55,7 +54,6 @@ class SerializationPluginDeclarationChecker : DeclarationChecker {
         }
     }
 
-    // todo: also check on a side of external serializer
     private fun buildSerializableProperties(descriptor: ClassDescriptor, trace: BindingTrace): SerializableProperties? {
         if (!descriptor.annotations.hasAnnotation(SerializationAnnotations.serializableAnnotationFqName)) return null
         if (!descriptor.isInternalSerializable) return null
@@ -123,7 +121,6 @@ class SerializationPluginDeclarationChecker : DeclarationChecker {
                 val element = ktType.typeElement ?: return
                 checkSerializerNullability(it.type, serializer.defaultType, element, trace)
                 generatorContextForAnalysis.checkTypeArguments(it.module, it.type, element, trace)
-                trace.record(SERIALIZER_FOR_PROPERTY, it.descriptor, serializer)
             } else {
                 generatorContextForAnalysis.checkType(it.module, it.type, ktType, trace)
             }
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/KSerializationUtil.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/KSerializationUtil.kt
index 8b3c7642d55..c094abd8fba 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/KSerializationUtil.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/KSerializationUtil.kt
@@ -29,11 +29,9 @@ import org.jetbrains.kotlin.resolve.lazy.descriptors.LazyAnnotationDescriptor
 import org.jetbrains.kotlin.resolve.scopes.getDescriptorsFiltered
 import org.jetbrains.kotlin.types.*
 import org.jetbrains.kotlin.types.typeUtil.isSubtypeOf
-import org.jetbrains.kotlin.types.typeUtil.supertypes
 import org.jetbrains.kotlinx.serialization.compiler.backend.jvm.contextSerializerId
 import org.jetbrains.kotlinx.serialization.compiler.backend.jvm.enumSerializerId
 import org.jetbrains.kotlinx.serialization.compiler.backend.jvm.polymorphicSerializerId
-import org.jetbrains.kotlinx.serialization.compiler.resolve.SerialEntityNames.KSERIALIZER_CLASS
 import org.jetbrains.kotlinx.serialization.compiler.resolve.SerializationAnnotations.serialInfoFqName
 
 internal fun isAllowedToHaveAutoGeneratedSerializerMethods(
@@ -62,7 +60,7 @@ internal fun ClassDescriptor.createSerializerTypeFor(argument: SimpleType, baseS
     val projectionType = Variance.INVARIANT
     val types = listOf(TypeProjectionImpl(projectionType, argument))
     val descriptor = module.findClassAcrossModuleDependencies(ClassId.topLevel(baseSerializerInterface))
-        ?: throw IllegalArgumentException("Can't locate $baseSerializerInterface")
+        ?: throw IllegalArgumentException("Can't locate $baseSerializerInterface. Is kotlinx-serialization library present in compile classpath?")
     return KotlinTypeFactory.simpleNotNullType(Annotations.EMPTY, descriptor, types)
 }
 
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/KSerializerDescriptorResolver.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/KSerializerDescriptorResolver.kt
index c3ab84673e3..04eb0feaed7 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/KSerializerDescriptorResolver.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/KSerializerDescriptorResolver.kt
@@ -293,7 +293,7 @@ object KSerializerDescriptorResolver {
         val markerDesc = classDescriptor.getKSerializerConstructorMarker()
         val markerType = markerDesc.toSimpleType()
 
-        val serializableProperties = SerializableProperties(classDescriptor, bindingContext).serializableProperties
+        val serializableProperties = bindingContext.serializablePropertiesFor(classDescriptor).serializableProperties
         val parameterDescsAsProps = serializableProperties.map { it.descriptor }
         val bitMaskSlotsCount = serializableProperties.bitMaskSlotCount()
         var i = 0
diff --git a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/SerializableProperties.kt b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/SerializableProperties.kt
index c77ffe4f71f..8ac8d35a2b5 100644
--- a/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/SerializableProperties.kt
+++ b/plugins/kotlin-serialization/kotlin-serialization-compiler/src/org/jetbrains/kotlinx/serialization/compiler/resolve/SerializableProperties.kt
@@ -21,6 +21,7 @@ import org.jetbrains.kotlin.resolve.BindingContext
 import org.jetbrains.kotlin.resolve.descriptorUtil.getSuperClassNotAny
 import org.jetbrains.kotlin.resolve.hasBackingField
 import org.jetbrains.kotlin.resolve.scopes.DescriptorKindFilter
+import org.jetbrains.kotlinx.serialization.compiler.diagnostic.SERIALIZABLE_PROPERTIES
 
 class SerializableProperties(private val serializableClass: ClassDescriptor, val bindingContext: BindingContext) {
     private val primaryConstructorParameters: List<ValueParameterDescriptor> =
@@ -75,4 +76,7 @@ class SerializableProperties(private val serializableClass: ClassDescriptor, val
 }
 
 internal fun List<SerializableProperty>.bitMaskSlotCount() = size / 32 + 1
-internal fun bitMaskSlotAt(propertyIndex: Int) = propertyIndex / 32
\ No newline at end of file
+internal fun bitMaskSlotAt(propertyIndex: Int) = propertyIndex / 32
+
+internal fun BindingContext.serializablePropertiesFor(classDescriptor: ClassDescriptor): SerializableProperties =
+    this.get(SERIALIZABLE_PROPERTIES, classDescriptor) ?: SerializableProperties(classDescriptor, this)
\ No newline at end of file