diff --git a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/configuration/KotlinWithLibraryConfigurator.kt b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/configuration/KotlinWithLibraryConfigurator.kt
index 9cb623a611c..21d11f562bb 100644
--- a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/configuration/KotlinWithLibraryConfigurator.kt
+++ b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/configuration/KotlinWithLibraryConfigurator.kt
@@ -99,11 +99,6 @@ abstract class KotlinWithLibraryConfigurator internal constructor() : KotlinProj
 
         configureKotlinSettings(modulesToConfigure)
 
-        KotlinCommonCompilerArgumentsHolder.getInstance(project).update {
-            languageVersionView = VersionView.Specific(LanguageVersion.LATEST_STABLE)
-            apiVersionView = VersionView.Specific(LanguageVersion.LATEST_STABLE)
-        }
-
         collector.showNotification()
     }
 
diff --git a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/CustomLibraryDescriptorWithDeferredConfig.kt b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/CustomLibraryDescriptorWithDeferredConfig.kt
index e8e31d27522..c366f15a90f 100644
--- a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/CustomLibraryDescriptorWithDeferredConfig.kt
+++ b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/CustomLibraryDescriptorWithDeferredConfig.kt
@@ -72,12 +72,18 @@ abstract class CustomLibraryDescriptorWithDeferredConfig
         return suitableLibraryKinds
     }
 
-    fun finishLibConfiguration(module: Module, rootModel: ModifiableRootModel) {
+    fun finishLibConfiguration(
+        module: Module,
+        rootModel: ModifiableRootModel,
+        isNewProject: Boolean
+    ) {
         configureKotlinSettings(module.project, rootModel.sdk)
 
-        KotlinCommonCompilerArgumentsHolder.getInstance(module.project).update {
-            languageVersionView = VersionView.Specific(LanguageVersion.LATEST_STABLE)
-            apiVersionView = VersionView.Specific(LanguageVersion.LATEST_STABLE)
+        if (isNewProject) {
+            KotlinCommonCompilerArgumentsHolder.getInstance(module.project).update {
+                languageVersionView = VersionView.Specific(LanguageVersion.LATEST_STABLE)
+                apiVersionView = VersionView.Specific(LanguageVersion.LATEST_STABLE)
+            }
         }
 
         val library = rootModel.orderEntries().findLibrary { library ->
diff --git a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/JavaFrameworkSupportProvider.kt b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/JavaFrameworkSupportProvider.kt
index 96d8ac68b94..062f6d5d548 100644
--- a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/JavaFrameworkSupportProvider.kt
+++ b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/JavaFrameworkSupportProvider.kt
@@ -45,7 +45,7 @@ class JavaFrameworkSupportProvider : FrameworkSupportInModuleProvider() {
                         JSLibraryStdDescription.SUITABLE_LIBRARY_KINDS,
                         "Kotlin/\u200BJS")
 
-                description!!.finishLibConfiguration(module, rootModel)
+                description!!.finishLibConfiguration(module, rootModel, false)
             }
 
             override fun onFrameworkSelectionChanged(selected: Boolean) {
diff --git a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/KotlinModuleBuilder.kt b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/KotlinModuleBuilder.kt
index 671bef03322..1728af7ff88 100644
--- a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/KotlinModuleBuilder.kt
+++ b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/KotlinModuleBuilder.kt
@@ -31,16 +31,22 @@ import javax.swing.Icon
 class KotlinModuleBuilder(
         val targetPlatform: TargetPlatform, val builderName: String, val builderDescription: String, val icon: Icon
 ) : JavaModuleBuilder() {
+    private var wizardContext: WizardContext? = null
+
     override fun getBuilderId() = "kotlin.module.builder"
     override fun getName() = builderName
     override fun getPresentableName() = builderName
     override fun getDescription() = builderDescription
     override fun getNodeIcon() = icon
     override fun getGroupName() = KotlinTemplatesFactory.KOTLIN_GROUP_NAME
-    override fun createWizardSteps(wizardContext: WizardContext, modulesProvider: ModulesProvider) = ModuleWizardStep.EMPTY_ARRAY
+
+    override fun createWizardSteps(wizardContext: WizardContext, modulesProvider: ModulesProvider): Array<out ModuleWizardStep>? {
+        this.wizardContext = wizardContext
+        return ModuleWizardStep.EMPTY_ARRAY
+    }
 
     override fun modifySettingsStep(settingsStep: SettingsStep): ModuleWizardStep {
-        return KotlinModuleSettingStep(targetPlatform, this, settingsStep)
+        return KotlinModuleSettingStep(targetPlatform, this, settingsStep, wizardContext)
     }
 
     override fun isSuitableSdkType(sdkType: SdkTypeId?) = when (targetPlatform) {
diff --git a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/KotlinModuleSettingStep.java b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/KotlinModuleSettingStep.java
index 82ad72097fb..2619d3bbe1b 100644
--- a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/KotlinModuleSettingStep.java
+++ b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/framework/KotlinModuleSettingStep.java
@@ -20,10 +20,7 @@ import com.intellij.CommonBundle;
 import com.intellij.facet.impl.ui.libraries.LibraryCompositionSettings;
 import com.intellij.facet.impl.ui.libraries.LibraryOptionsPanel;
 import com.intellij.framework.library.FrameworkLibraryVersionFilter;
-import com.intellij.ide.util.projectWizard.JavaSettingsStep;
-import com.intellij.ide.util.projectWizard.ModuleBuilder;
-import com.intellij.ide.util.projectWizard.ModuleWizardStep;
-import com.intellij.ide.util.projectWizard.SettingsStep;
+import com.intellij.ide.util.projectWizard.*;
 import com.intellij.openapi.diagnostic.Logger;
 import com.intellij.openapi.module.JavaModuleType;
 import com.intellij.openapi.module.Module;
@@ -64,6 +61,8 @@ public class KotlinModuleSettingStep extends ModuleWizardStep {
     private final CustomLibraryDescription customLibraryDescription;
     private final LibrariesContainer librariesContainer;
 
+    private boolean isNewProject;
+
     private LibraryOptionsPanel libraryOptionsPanel;
     private JPanel panel;
 
@@ -71,7 +70,14 @@ public class KotlinModuleSettingStep extends ModuleWizardStep {
 
     private final String basePath;
 
-    public KotlinModuleSettingStep(TargetPlatform targetPlatform, ModuleBuilder moduleBuilder, @NotNull SettingsStep settingsStep) {
+    public KotlinModuleSettingStep(
+            TargetPlatform targetPlatform,
+            ModuleBuilder moduleBuilder,
+            @NotNull SettingsStep settingsStep,
+            @Nullable WizardContext wizardContext
+    ) {
+        isNewProject = wizardContext != null && wizardContext.isCreatingNewProject();
+
         if (!(targetPlatform instanceof JvmPlatform)) {
             KotlinSdkType.Companion.setUpIfNeeded();
         }
@@ -98,7 +104,7 @@ public class KotlinModuleSettingStep extends ModuleWizardStep {
                     libraryCompositionSettings.addLibraries(rootModel, new ArrayList<Library>(), librariesContainer);
 
                     if (customLibraryDescription instanceof CustomLibraryDescriptorWithDeferredConfig) {
-                        ((CustomLibraryDescriptorWithDeferredConfig) customLibraryDescription).finishLibConfiguration(module, rootModel);
+                        ((CustomLibraryDescriptorWithDeferredConfig) customLibraryDescription).finishLibConfiguration(module, rootModel, isNewProject);
                     }
                 }
             }