diff --git a/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/codegen/AnnotationCodegen.kt b/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/codegen/AnnotationCodegen.kt
index baf06478bbe..99b32477051 100644
--- a/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/codegen/AnnotationCodegen.kt
+++ b/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/codegen/AnnotationCodegen.kt
@@ -22,6 +22,7 @@ import org.jetbrains.kotlin.backend.common.ir.ir2string
 import org.jetbrains.kotlin.backend.jvm.JvmBackendContext
 import org.jetbrains.kotlin.backend.jvm.JvmLoweredDeclarationOrigin
 import org.jetbrains.kotlin.backend.jvm.JvmSymbols
+import org.jetbrains.kotlin.backend.jvm.ir.erasedUpperBound
 import org.jetbrains.kotlin.backend.jvm.ir.isInlineClassType
 import org.jetbrains.kotlin.backend.jvm.ir.isWithFlexibleNullability
 import org.jetbrains.kotlin.builtins.StandardNames
@@ -38,6 +39,7 @@ import org.jetbrains.kotlin.ir.declarations.*
 import org.jetbrains.kotlin.ir.expressions.*
 import org.jetbrains.kotlin.ir.symbols.IrEnumEntrySymbol
 import org.jetbrains.kotlin.ir.types.*
+import org.jetbrains.kotlin.ir.types.impl.buildSimpleType
 import org.jetbrains.kotlin.ir.util.*
 import org.jetbrains.kotlin.load.java.JvmAnnotationNames
 import org.jetbrains.kotlin.name.FqName
@@ -275,12 +277,12 @@ abstract class AnnotationCodegen(
                 visitor.visitEnd()
             }
             is IrClassReference -> {
-                var classType = value.classType
+                val classType = value.classType
                 classType.classOrNull?.owner?.let(innerClassConsumer::addInnerClassInfoFromAnnotation)
-                if (classType.isInlineClassType()) {
-                    classType = classType.makeNullable()
-                }
-                annotationVisitor.visit(name, typeMapper.mapType(classType))
+                val mappedType =
+                    if (classType.isInlineClassType()) typeMapper.mapClass(classType.erasedUpperBound)
+                    else typeMapper.mapType(classType)
+                annotationVisitor.visit(name, mappedType)
             }
             is IrErrorExpression -> error("Don't know how to compile annotation value ${ir2string(value)}")
             else -> error("Unsupported compile-time value ${ir2string(value)}")
diff --git a/compiler/testData/codegen/box/inlineClasses/kclassInAnnotation.kt b/compiler/testData/codegen/box/inlineClasses/kclassInAnnotation.kt
index d76a73f1a8a..ef03392f74f 100644
--- a/compiler/testData/codegen/box/inlineClasses/kclassInAnnotation.kt
+++ b/compiler/testData/codegen/box/inlineClasses/kclassInAnnotation.kt
@@ -1,17 +1,45 @@
 // WITH_REFLECT
 // TARGET_BACKEND: JVM
+// IGNORE_BACKEND: JVM
 package test
 
 import kotlin.reflect.KClass
 
-inline class IC(val i: Int)
+@JvmInline
+value class ICInt(val i: Int)
+
+@JvmInline
+value class ICIntN(val i: Int?)
+
+@JvmInline
+value class ICAny(val a: Any)
 
 annotation class Ann(val c: KClass<*>)
 
-@Ann(IC::class)
-class C
+@Ann(ICInt::class)
+class CInt
+
+@Ann(ICIntN::class)
+class CIntN
+
+@Ann(ICAny::class)
+class CAny
+
+@Ann(Result::class)
+class CResult
 
 fun box(): String {
-    val klass = (C::class.annotations.first() as Ann).c.toString()
-    return if (klass == "class test.IC") "OK" else klass
+    var klass = (CInt::class.annotations.first() as Ann).c.toString()
+    if (klass != "class test.ICInt") return "Expected class test.ICInt, got $klass"
+
+    klass = (CIntN::class.annotations.first() as Ann).c.toString()
+    if (klass != "class test.ICIntN") return "Expected class test.ICIntN, got $klass"
+
+    klass = (CAny::class.annotations.first() as Ann).c.toString()
+    if (klass != "class test.ICAny") return "Expected class test.ICAny, got $klass"
+
+    klass = (CResult::class.annotations.first() as Ann).c.toString()
+    if (klass != "class kotlin.Result") return "Expected class kotlin.Result, got $klass"
+
+    return "OK"
 }
\ No newline at end of file
diff --git a/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java b/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
index 5a6dceaf4f3..54be4ca765b 100644
--- a/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
+++ b/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
@@ -15174,6 +15174,11 @@ public class LightAnalysisModeTestGenerated extends AbstractLightAnalysisModeTes
             runTest("compiler/testData/codegen/box/inlineClasses/inlineClassWithCustomEquals.kt");
         }
 
+        @TestMetadata("kclassInAnnotation.kt")
+        public void ignoreKclassInAnnotation() throws Exception {
+            runTest("compiler/testData/codegen/box/inlineClasses/kclassInAnnotation.kt");
+        }
+
         @TestMetadata("kt31994.kt")
         public void ignoreKt31994() throws Exception {
             runTest("compiler/testData/codegen/box/inlineClasses/kt31994.kt");
@@ -15702,11 +15707,6 @@ public class LightAnalysisModeTestGenerated extends AbstractLightAnalysisModeTes
             runTest("compiler/testData/codegen/box/inlineClasses/jvmStaticVarInInlineClassCompanion.kt");
         }
 
-        @TestMetadata("kclassInAnnotation.kt")
-        public void testKclassInAnnotation() throws Exception {
-            runTest("compiler/testData/codegen/box/inlineClasses/kclassInAnnotation.kt");
-        }
-
         @TestMetadata("kt25246.kt")
         public void testKt25246() throws Exception {
             runTest("compiler/testData/codegen/box/inlineClasses/kt25246.kt");