diff --git a/build.gradle.kts b/build.gradle.kts
index 51188770958..b1d843c94d0 100644
--- a/build.gradle.kts
+++ b/build.gradle.kts
@@ -5,7 +5,7 @@ import org.jetbrains.kotlin.gradle.tasks.KotlinCompile
 import proguard.gradle.ProGuardTask
 
 buildscript {
-    extra["defaultSnapshotVersion"] = "1.3-SNAPSHOT"
+    extra["defaultSnapshotVersion"] = "1.4-SNAPSHOT"
     val cacheRedirectorEnabled = findProperty("cacheRedirectorEnabled")?.toString()?.toBoolean() == true
 
     kotlinBootstrapFrom(BootstrapOption.BintrayBootstrap("1.3.70-dev-1806", cacheRedirectorEnabled))
diff --git a/compiler/util/src/org/jetbrains/kotlin/config/LanguageVersionSettings.kt b/compiler/util/src/org/jetbrains/kotlin/config/LanguageVersionSettings.kt
index 593bc11559a..0256e706d43 100644
--- a/compiler/util/src/org/jetbrains/kotlin/config/LanguageVersionSettings.kt
+++ b/compiler/util/src/org/jetbrains/kotlin/config/LanguageVersionSettings.kt
@@ -263,7 +263,7 @@ enum class LanguageVersion(val major: Int, val minor: Int) : DescriptionAware {
         val FIRST_SUPPORTED = KOTLIN_1_2
 
         @JvmField
-        val LATEST_STABLE = KOTLIN_1_3
+        val LATEST_STABLE = KOTLIN_1_4
     }
 }
 
diff --git a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/configuration/ConfigureKotlinInProjectUtils.kt b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/configuration/ConfigureKotlinInProjectUtils.kt
index 2d18c36539a..6b76364261d 100644
--- a/idea/idea-jvm/src/org/jetbrains/kotlin/idea/configuration/ConfigureKotlinInProjectUtils.kt
+++ b/idea/idea-jvm/src/org/jetbrains/kotlin/idea/configuration/ConfigureKotlinInProjectUtils.kt
@@ -43,7 +43,7 @@ import org.jetbrains.kotlin.utils.ifEmpty
 
 data class RepositoryDescription(val id: String, val name: String, val url: String, val bintrayUrl: String?, val isSnapshot: Boolean)
 
-const val LAST_SNAPSHOT_VERSION = "1.3-SNAPSHOT"
+const val LAST_SNAPSHOT_VERSION = "1.4-SNAPSHOT"
 
 val SNAPSHOT_REPOSITORY = RepositoryDescription(
     "sonatype.oss.snapshots",
diff --git a/libraries/pom.xml b/libraries/pom.xml
index ccd873bef11..2b1b126d080 100644
--- a/libraries/pom.xml
+++ b/libraries/pom.xml
@@ -7,7 +7,7 @@
 
     <groupId>org.jetbrains.kotlin</groupId>
     <artifactId>kotlin-project</artifactId>
-    <version>1.3-SNAPSHOT</version>
+    <version>1.4-SNAPSHOT</version>
     <packaging>pom</packaging>
 
     <name>Kotlin</name>
diff --git a/libraries/stdlib/src/kotlin/util/KotlinVersion.kt b/libraries/stdlib/src/kotlin/util/KotlinVersion.kt
index 12f913d7d97..9382c2e00ea 100644
--- a/libraries/stdlib/src/kotlin/util/KotlinVersion.kt
+++ b/libraries/stdlib/src/kotlin/util/KotlinVersion.kt
@@ -72,6 +72,6 @@ public class KotlinVersion(val major: Int, val minor: Int, val patch: Int) : Com
          * Returns the current version of the Kotlin standard library.
          */
         @kotlin.jvm.JvmField
-        public val CURRENT: KotlinVersion = KotlinVersion(1, 3, 0) // value is written here automatically during build
+        public val CURRENT: KotlinVersion = KotlinVersion(1, 4, 0) // value is written here automatically during build
     }
 }