diff --git a/compiler/ir/backend.common/src/org/jetbrains/kotlin/backend/common/lower/inline/FunctionInlining.kt b/compiler/ir/backend.common/src/org/jetbrains/kotlin/backend/common/lower/inline/FunctionInlining.kt
index 9d32e616ff4..098c69032ea 100644
--- a/compiler/ir/backend.common/src/org/jetbrains/kotlin/backend/common/lower/inline/FunctionInlining.kt
+++ b/compiler/ir/backend.common/src/org/jetbrains/kotlin/backend/common/lower/inline/FunctionInlining.kt
@@ -93,6 +93,8 @@ class FunctionInlining(
 
     private var containerScope: ScopeWithIr? = null
 
+    private var deepInline: Boolean = false
+
     override fun lower(irBody: IrBody, container: IrDeclaration) {
         // TODO container: IrSymbolDeclaration
         containerScope = createScope(container as IrSymbolOwner)
@@ -155,16 +157,6 @@ class FunctionInlining(
 
         fun inline() = inlineFunction(callSite, callee, true)
 
-        /**
-         * TODO: JVM inliner crashed on attempt inline this function from transform.kt with:
-         *  j.l.IllegalStateException: Couldn't obtain compiled function body for
-         *  public inline fun <reified T : org.jetbrains.kotlin.ir.IrElement> kotlin.collections.MutableList<T>.transform...
-         */
-        private inline fun <reified T : IrElement> MutableList<T>.transform(transformation: (T) -> IrElement) {
-            forEachIndexed { i, item ->
-                set(i, transformation(item) as T)
-            }
-        }
 
         private fun inlineFunction(
             callSite: IrFunctionAccessExpression,
@@ -172,9 +164,22 @@ class FunctionInlining(
             performRecursiveInline: Boolean
         ): IrReturnableBlock {
             val copiedCallee = (copyIrElement.copy(callee) as IrFunction).apply {
+
+                // It's a hack to overtake another hack in PIR. Due to PersistentIrFactory registers every created declaration
+                // there also get temporary declaration like this which leads to some unclear behaviour. Since I am not aware
+                // enough about PIR internals the simplest way seemed to me is to unregister temporary function. Hope it is going
+                // to be removed ASAP along with registering every PIR declaration.
+                factory.unlistFunction(this)
+
                 parent = callee.parent
                 if (performRecursiveInline) {
-                    body?.transformChildrenVoid()
+                    val old = deepInline
+                    try {
+                        deepInline = true
+                        body?.transformChildrenVoid()
+                    } finally {
+                        deepInline = old
+                    }
                     valueParameters.forEachIndexed { index, param ->
                         if (callSite.getValueArgument(index) == null) {
                             // Default values can recursively reference [callee] - transform only needed.
@@ -537,6 +542,13 @@ class FunctionInlining(
                 if (argument.isInlinableLambdaArgument) {
                     substituteMap[argument.parameter] = argument.argumentExpression
                     (argument.argumentExpression as? IrFunctionReference)?.let { evaluationStatements += evaluateArguments(it) }
+
+                    (argument.argumentExpression as? IrFunctionExpression)?.let {
+                        if (deepInline) {
+                            it.function.factory.unlistFunction(it.function)
+                        }
+                    }
+
                     return@forEach
                 }
 
diff --git a/compiler/ir/ir.tree.persistent/src/org/jetbrains/kotlin/ir/declarations/persistent/PersistentIrFactory.kt b/compiler/ir/ir.tree.persistent/src/org/jetbrains/kotlin/ir/declarations/persistent/PersistentIrFactory.kt
index 5567072506c..5062082715a 100644
--- a/compiler/ir/ir.tree.persistent/src/org/jetbrains/kotlin/ir/declarations/persistent/PersistentIrFactory.kt
+++ b/compiler/ir/ir.tree.persistent/src/org/jetbrains/kotlin/ir/declarations/persistent/PersistentIrFactory.kt
@@ -15,7 +15,6 @@ import org.jetbrains.kotlin.ir.expressions.IrExpressionBody
 import org.jetbrains.kotlin.ir.expressions.persistent.PersistentIrBlockBody
 import org.jetbrains.kotlin.ir.expressions.persistent.PersistentIrExpressionBody
 import org.jetbrains.kotlin.ir.symbols.*
-import org.jetbrains.kotlin.ir.symbols.impl.IrPublicSymbolBase
 import org.jetbrains.kotlin.ir.types.IrType
 import org.jetbrains.kotlin.ir.util.IdSignature
 import org.jetbrains.kotlin.name.Name
@@ -26,9 +25,9 @@ class PersistentIrFactory : IrFactory {
 
     override var stageController = StageController()
 
-    val allDeclarations = mutableListOf<IrDeclaration>()
+    val allDeclarations = hashSetOf<IrDeclaration>()
 
-    val allBodies = mutableListOf<IrBody>()
+    val allBodies = hashSetOf<IrBody>()
 
     private fun IrDeclaration.register() {
         allDeclarations += this
@@ -38,6 +37,15 @@ class PersistentIrFactory : IrFactory {
         return (declaration as? PersistentIrDeclarationBase<*>)?.signature ?: declaration.symbol.signature
     }
 
+    override fun unlistFunction(f: IrFunction) {
+        allDeclarations.remove(f)
+        f.dispatchReceiverParameter?.let { allDeclarations.remove(it) }
+        f.extensionReceiverParameter?.let { allDeclarations.remove(it) }
+        allDeclarations.removeAll(f.valueParameters)
+        allDeclarations.removeAll(f.typeParameters)
+        allBodies.remove(f.body)
+    }
+
     @Suppress("UNUSED_PARAMETER")
     internal fun currentSignature(declaration: IrDeclaration): IdSignature? {
         val parentSig = stageController.currentDeclaration?.let { declarationSignature(it) } ?: return null
@@ -125,7 +133,19 @@ class PersistentIrFactory : IrFactory {
         isExternal: Boolean,
         isStatic: Boolean,
     ): IrField =
-        PersistentIrField(startOffset, endOffset, origin, symbol, name, type, visibility, isFinal, isExternal, isStatic, this).also { it.register() }
+        PersistentIrField(
+            startOffset,
+            endOffset,
+            origin,
+            symbol,
+            name,
+            type,
+            visibility,
+            isFinal,
+            isExternal,
+            isStatic,
+            this
+        ).also { it.register() }
 
     override fun createFunction(
         startOffset: Int,
@@ -268,7 +288,19 @@ class PersistentIrFactory : IrFactory {
         isAssignable: Boolean
     ): IrValueParameter =
         PersistentIrValueParameter(
-            startOffset, endOffset, origin, symbol, name, index, type, varargElementType, isCrossinline, isNoinline, isHidden, isAssignable, this
+            startOffset,
+            endOffset,
+            origin,
+            symbol,
+            name,
+            index,
+            type,
+            varargElementType,
+            isCrossinline,
+            isNoinline,
+            isHidden,
+            isAssignable,
+            this
         ).also { it.register() }
 
     override fun createExpressionBody(
diff --git a/compiler/ir/ir.tree/src/org/jetbrains/kotlin/ir/declarations/IrFactory.kt b/compiler/ir/ir.tree/src/org/jetbrains/kotlin/ir/declarations/IrFactory.kt
index 3d7b8b93a58..a994ec75ff7 100644
--- a/compiler/ir/ir.tree/src/org/jetbrains/kotlin/ir/declarations/IrFactory.kt
+++ b/compiler/ir/ir.tree/src/org/jetbrains/kotlin/ir/declarations/IrFactory.kt
@@ -239,4 +239,6 @@ interface IrFactory {
         endOffset: Int,
         initializer: IrBlockBody.() -> Unit,
     ): IrBlockBody
+
+    fun unlistFunction(f: IrFunction) {}
 }
diff --git a/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/BasicIrModuleDeserializer.kt b/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/BasicIrModuleDeserializer.kt
index 13f155108d4..853056afcc1 100644
--- a/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/BasicIrModuleDeserializer.kt
+++ b/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/BasicIrModuleDeserializer.kt
@@ -27,8 +27,7 @@ abstract class BasicIrModuleDeserializer(
     override val klib: IrLibrary,
     override val strategy: DeserializationStrategy,
     libraryAbiVersion: KotlinAbiVersion,
-    private val containsErrorCode: Boolean = false,
-    private val useGlobalSignatures: Boolean = false,
+    private val containsErrorCode: Boolean = false
 ) :
     IrModuleDeserializer(moduleDescriptor, libraryAbiVersion) {
 
@@ -119,7 +118,6 @@ abstract class BasicIrModuleDeserializer(
             allowErrorNodes,
             strategy.inlineBodies,
             moduleDeserializer,
-            useGlobalSignatures,
             linker::handleNoModuleDeserializerFound,
         )
 
diff --git a/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/IrFileDeserializer.kt b/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/IrFileDeserializer.kt
index af5ab96f410..5efb48f7bbb 100644
--- a/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/IrFileDeserializer.kt
+++ b/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/IrFileDeserializer.kt
@@ -66,7 +66,6 @@ class FileDeserializationState(
     allowErrorNodes: Boolean,
     deserializeInlineFunctions: Boolean,
     moduleDeserializer: IrModuleDeserializer,
-    useGlobalSignatures: Boolean,
     handleNoModuleDeserializerFound: (IdSignature, ModuleDescriptor, Collection<IrModuleDeserializer>) -> IrModuleDeserializer,
 ) {
 
@@ -76,7 +75,6 @@ class FileDeserializationState(
             fileProto.actualList,
             ::addIdSignature,
             linker::handleExpectActualMapping,
-            useGlobalSignatures = useGlobalSignatures,
         ) { idSig, symbolKind ->
 
             val topLevelSig = idSig.topLevelSignature()
diff --git a/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/IrSymbolDeserializer.kt b/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/IrSymbolDeserializer.kt
index 4890f797ad0..36b5cef4b68 100644
--- a/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/IrSymbolDeserializer.kt
+++ b/compiler/ir/serialization.common/src/org/jetbrains/kotlin/backend/common/serialization/IrSymbolDeserializer.kt
@@ -8,12 +8,14 @@ package org.jetbrains.kotlin.backend.common.serialization
 import org.jetbrains.kotlin.backend.common.serialization.encodings.BinarySymbolData
 import org.jetbrains.kotlin.backend.common.serialization.proto.Actual
 import org.jetbrains.kotlin.backend.common.serialization.proto.IdSignature.IdSigCase.*
-import org.jetbrains.kotlin.descriptors.ClassDescriptor
-import org.jetbrains.kotlin.descriptors.ParameterDescriptor
-import org.jetbrains.kotlin.ir.declarations.IrAnonymousInitializer
-import org.jetbrains.kotlin.ir.declarations.IrValueParameter
-import org.jetbrains.kotlin.ir.symbols.*
-import org.jetbrains.kotlin.ir.symbols.impl.*
+import org.jetbrains.kotlin.ir.symbols.IrFileSymbol
+import org.jetbrains.kotlin.ir.symbols.IrPropertySymbol
+import org.jetbrains.kotlin.ir.symbols.IrSimpleFunctionSymbol
+import org.jetbrains.kotlin.ir.symbols.IrSymbol
+import org.jetbrains.kotlin.ir.symbols.impl.IrAnonymousInitializerSymbolImpl
+import org.jetbrains.kotlin.ir.symbols.impl.IrLocalDelegatedPropertySymbolImpl
+import org.jetbrains.kotlin.ir.symbols.impl.IrValueParameterSymbolImpl
+import org.jetbrains.kotlin.ir.symbols.impl.IrVariableSymbolImpl
 import org.jetbrains.kotlin.ir.util.*
 import org.jetbrains.kotlin.protobuf.CodedInputStream
 import org.jetbrains.kotlin.protobuf.ExtensionRegistryLite
@@ -34,7 +36,6 @@ class IrSymbolDeserializer(
     val enqueueLocalTopLevelDeclaration: (IdSignature) -> Unit,
     val handleExpectActualMapping: (IdSignature, IrSymbol) -> IrSymbol,
     private val enqueueAllDeclarations: Boolean = false,
-    private val useGlobalSignatures: Boolean = false,
     val deserializedSymbols: MutableMap<IdSignature, IrSymbol> = mutableMapOf(), // Per-file signature cache. TODO: do we really need it?
     val deserializePublicSymbol: (IdSignature, BinarySymbolData.SymbolKind) -> IrSymbol,
 ) {
@@ -51,7 +52,7 @@ class IrSymbolDeserializer(
 
     private fun referenceDeserializedSymbol(symbolKind: BinarySymbolData.SymbolKind, idSig: IdSignature): IrSymbol = symbolTable.run {
         when (symbolKind) {
-            BinarySymbolData.SymbolKind.ANONYMOUS_INIT_SYMBOL -> if (useGlobalSignatures) IrAnonymousInitializerPublicSymbolImpl(idSig) else IrAnonymousInitializerSymbolImpl()
+            BinarySymbolData.SymbolKind.ANONYMOUS_INIT_SYMBOL -> IrAnonymousInitializerSymbolImpl()
             BinarySymbolData.SymbolKind.CLASS_SYMBOL -> referenceClassFromLinker(idSig)
             BinarySymbolData.SymbolKind.CONSTRUCTOR_SYMBOL -> referenceConstructorFromLinker(idSig)
             BinarySymbolData.SymbolKind.TYPE_PARAMETER_SYMBOL -> referenceGlobalTypeParameterFromLinker(idSig)
@@ -62,8 +63,8 @@ class IrSymbolDeserializer(
             BinarySymbolData.SymbolKind.TYPEALIAS_SYMBOL -> referenceTypeAliasFromLinker(idSig)
             BinarySymbolData.SymbolKind.PROPERTY_SYMBOL -> referencePropertyFromLinker(idSig)
             BinarySymbolData.SymbolKind.VARIABLE_SYMBOL -> IrVariableSymbolImpl()
-            BinarySymbolData.SymbolKind.VALUE_PARAMETER_SYMBOL -> if (useGlobalSignatures) IrValueParameterPublicSymbolImpl(idSig) else IrValueParameterSymbolImpl()
-            BinarySymbolData.SymbolKind.RECEIVER_PARAMETER_SYMBOL -> if (useGlobalSignatures) IrValueParameterPublicSymbolImpl(idSig) else IrValueParameterSymbolImpl()
+            BinarySymbolData.SymbolKind.VALUE_PARAMETER_SYMBOL -> IrValueParameterSymbolImpl()
+            BinarySymbolData.SymbolKind.RECEIVER_PARAMETER_SYMBOL -> IrValueParameterSymbolImpl()
             BinarySymbolData.SymbolKind.LOCAL_DELEGATED_PROPERTY_SYMBOL ->
                 IrLocalDelegatedPropertySymbolImpl()
             BinarySymbolData.SymbolKind.FILE_SYMBOL -> (idSig as IdSignature.FileSignature).fileSymbol
@@ -200,12 +201,3 @@ class IrSymbolDeserializer(
         }
     }
 }
-
-// TODO: make internal and move to deserializer
-private class IrAnonymousInitializerPublicSymbolImpl(sig: IdSignature, descriptor: ClassDescriptor? = null) :
-    IrBindablePublicSymbolBase<ClassDescriptor, IrAnonymousInitializer>(sig, descriptor),
-    IrAnonymousInitializerSymbol
-
-private class IrValueParameterPublicSymbolImpl(sig: IdSignature, descriptor: ParameterDescriptor? = null) :
-    IrBindablePublicSymbolBase<ParameterDescriptor, IrValueParameter>(sig, descriptor),
-    IrValueParameterSymbol
diff --git a/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IcFileDeserializer.kt b/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IcFileDeserializer.kt
index b55443d7632..ccb8cb826b6 100644
--- a/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IcFileDeserializer.kt
+++ b/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IcFileDeserializer.kt
@@ -35,7 +35,6 @@ class IcFileDeserializer(
     allowErrorNodes: Boolean,
     deserializeInlineFunctions: Boolean,
     val moduleDeserializer: IrModuleDeserializer,
-    useGlobalSignatures: Boolean,
     val handleNoModuleDeserializerFound: (IdSignature, ModuleDescriptor, Collection<IrModuleDeserializer>) -> IrModuleDeserializer,
     val originalEnqueue: IdSignature.(IcFileDeserializer) -> Unit,
     val icFileData: SerializedIcDataForFile,
@@ -56,7 +55,6 @@ class IcFileDeserializer(
                 }
             },
             linker::handleExpectActualMapping,
-            useGlobalSignatures = useGlobalSignatures,
             enqueueAllDeclarations = true,
             deserializePublicSymbol = ::deserializeOriginalPublicSymbol,
         )
@@ -151,7 +149,6 @@ class IcFileDeserializer(
         { idSig -> idSig.enqueue(this) },
         { _, s -> s },
         enqueueAllDeclarations = true,
-        useGlobalSignatures = true,
         deserializedSymbols = originalFileDeserializer.symbolDeserializer.deserializedSymbols,
         ::deserializePublicSymbol
     )
diff --git a/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IcModuleDeserializer.kt b/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IcModuleDeserializer.kt
index 567b9bb8665..76fa2359989 100644
--- a/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IcModuleDeserializer.kt
+++ b/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/ic/IcModuleDeserializer.kt
@@ -33,7 +33,6 @@ class IcModuleDeserializer(
     override val klib: IrLibrary,
     override val strategy: DeserializationStrategy,
     private val containsErrorCode: Boolean = false,
-    private val useGlobalSignatures: Boolean = false,
 ) : IrModuleDeserializer(moduleDescriptor, KotlinAbiVersion.CURRENT) {
 
     private val fileToDeserializerMap = mutableMapOf<IrFile, IrFileDeserializer>()
@@ -145,7 +144,6 @@ class IcModuleDeserializer(
             allowErrorNodes,
             strategy.inlineBodies,
             moduleDeserializer,
-            useGlobalSignatures,
             linker::handleNoModuleDeserializerFound,
             { fileDeserializer -> originalEnqueue(fileDeserializer) },
             icFileData,
diff --git a/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/klib.kt b/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/klib.kt
index 1cca16b51e6..8a54fa578c7 100644
--- a/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/klib.kt
+++ b/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/klib.kt
@@ -290,8 +290,7 @@ fun loadIr(
                     symbolTable,
                     feContext,
                     null,
-                    depsDescriptors.loweredIcData,
-                    loweringsCacheProvider != null
+                    depsDescriptors.loweredIcData
                 )
             val deserializedModuleFragments = sortDependencies(allDependencies, depsDescriptors.descriptors).map { klib ->
                 irLinker.deserializeIrModuleHeader(
@@ -359,8 +358,7 @@ fun loadIr(
                     symbolTable,
                     null,
                     null,
-                    loweredIcData,
-                    loweringsCacheProvider != null
+                    loweredIcData
                 )
 
             val moduleFragmentToUniqueName = mutableMapOf<IrModuleFragment, String>()
diff --git a/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/lower/serialization/ir/JsIrLinker.kt b/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/lower/serialization/ir/JsIrLinker.kt
index 3ba5f8830ab..703629eb2cd 100644
--- a/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/lower/serialization/ir/JsIrLinker.kt
+++ b/compiler/ir/serialization.js/src/org/jetbrains/kotlin/ir/backend/js/lower/serialization/ir/JsIrLinker.kt
@@ -30,7 +30,6 @@ class JsIrLinker(
     override val translationPluginContext: TranslationPluginContext?,
     private val icData: ICData? = null,
     private val loweredIcData: Map<ModuleDescriptor, SerializedIcData> = emptyMap(),
-    private val useGlobalSignatures: Boolean = false,
 ) : KotlinIrLinker(currentModule, messageLogger, builtIns, symbolTable, emptyList()) {
 
     override val fakeOverrideBuilder = FakeOverrideBuilder(this, symbolTable, JsManglerIr, IrTypeSystemContextImpl(builtIns))
@@ -53,7 +52,6 @@ class JsIrLinker(
                 klib,
                 strategy,
                 containsErrorCode = klib.libContainsErrorCode,
-                useGlobalSignatures = useGlobalSignatures
             )
         }
         return JsModuleDeserializer(moduleDescriptor, klib, strategy, klib.versions.abiVersion ?: KotlinAbiVersion.CURRENT, klib.libContainsErrorCode)
@@ -62,7 +60,7 @@ class JsIrLinker(
     val mapping: JsMapping by lazy { JsMapping(symbolTable.irFactory) }
 
     private inner class JsModuleDeserializer(moduleDescriptor: ModuleDescriptor, klib: IrLibrary, strategy: DeserializationStrategy, libraryAbiVersion: KotlinAbiVersion, allowErrorCode: Boolean) :
-        BasicIrModuleDeserializer(this, moduleDescriptor, klib, strategy, libraryAbiVersion, allowErrorCode, useGlobalSignatures)
+        BasicIrModuleDeserializer(this, moduleDescriptor, klib, strategy, libraryAbiVersion, allowErrorCode)
 
     override fun maybeWrapWithBuiltInAndInit(
         moduleDescriptor: ModuleDescriptor,