diff --git a/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java b/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
index a589881e463..294c0315772 100644
--- a/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
+++ b/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
@@ -455,6 +455,12 @@ public class FirBlackBoxCodegenTestGenerated extends AbstractFirBlackBoxCodegenT
                 runTest("compiler/testData/codegen/box/annotations/instances/javaAnnotation.kt");
             }
 
+            @Test
+            @TestMetadata("kotlinExistingAnnotation.kt")
+            public void testKotlinExistingAnnotation() throws Exception {
+                runTest("compiler/testData/codegen/box/annotations/instances/kotlinExistingAnnotation.kt");
+            }
+
             @Test
             @TestMetadata("multifileEqHc.kt")
             public void testMultifileEqHc() throws Exception {
diff --git a/compiler/ir/backend.common/src/org/jetbrains/kotlin/backend/common/lower/AnnotationImplementationTransformer.kt b/compiler/ir/backend.common/src/org/jetbrains/kotlin/backend/common/lower/AnnotationImplementationTransformer.kt
index 30d2aa70029..b70cd74b122 100644
--- a/compiler/ir/backend.common/src/org/jetbrains/kotlin/backend/common/lower/AnnotationImplementationTransformer.kt
+++ b/compiler/ir/backend.common/src/org/jetbrains/kotlin/backend/common/lower/AnnotationImplementationTransformer.kt
@@ -12,7 +12,8 @@ import org.jetbrains.kotlin.backend.common.ir.addFakeOverrides
 import org.jetbrains.kotlin.backend.common.ir.createImplicitParameterDeclarationWithWrappedDescriptor
 import org.jetbrains.kotlin.descriptors.DescriptorVisibilities
 import org.jetbrains.kotlin.ir.builders.*
-import org.jetbrains.kotlin.ir.builders.declarations.*
+import org.jetbrains.kotlin.ir.builders.declarations.addConstructor
+import org.jetbrains.kotlin.ir.builders.declarations.buildClass
 import org.jetbrains.kotlin.ir.declarations.*
 import org.jetbrains.kotlin.ir.expressions.IrConstructorCall
 import org.jetbrains.kotlin.ir.expressions.IrExpression
@@ -56,13 +57,28 @@ abstract class AnnotationImplementationTransformer(val context: BackendContext,
             implClass.defaultType,
             ctor.symbol,
         )
-        newCall.copyTypeAndValueArgumentsFrom(expression)
+        moveValueArgumentsUsingNames(expression, newCall)
         newCall.transformChildrenVoid() // for annotations in annotations
         return newCall
     }
 
     open fun IrClass.platformSetup() {}
 
+    private fun moveValueArgumentsUsingNames(source: IrConstructorCall, destination: IrConstructorCall) {
+        val argumentsByName = source.getArgumentsWithIr().associateBy(
+            { (param, _) -> param.name },
+            { (_, value) -> value }
+        )
+
+        destination.symbol.owner.valueParameters.forEachIndexed { index, parameter ->
+            val valueArg = argumentsByName[parameter.name]
+            if (parameter.defaultValue == null && valueArg == null)
+                error("Usage of default value argument for this annotation is not yet possible.\n" +
+                       "Please specify value for '${source.type.classOrNull?.owner?.name}.${parameter.name}' explicitly")
+            destination.putValueArgument(index, valueArg)
+        }
+    }
+
     private fun createAnnotationImplementation(annotationClass: IrClass): IrClass {
         val localDeclarationParent = currentClass?.scope?.getLocalDeclarationParent() as? IrClass
         val parentFqName = annotationClass.fqNameWhenAvailable!!.asString().replace('.', '_')
diff --git a/compiler/testData/codegen/box/annotations/instances/kotlinExistingAnnotation.kt b/compiler/testData/codegen/box/annotations/instances/kotlinExistingAnnotation.kt
new file mode 100644
index 00000000000..f75af1eaf8a
--- /dev/null
+++ b/compiler/testData/codegen/box/annotations/instances/kotlinExistingAnnotation.kt
@@ -0,0 +1,23 @@
+// IGNORE_BACKEND_FIR: JVM_IR
+// TARGET_BACKEND: JVM_IR
+
+// WITH_RUNTIME
+// !LANGUAGE: +InstantiationOfAnnotationClasses
+
+fun f(): Metadata = Metadata(
+    kind = 0,
+    metadataVersion = intArrayOf(),
+    data1 = arrayOf(),
+    data2 = arrayOf(),
+    extraString = "",
+    packageName = "foo",
+    extraInt = 0,
+    bytecodeVersion = intArrayOf(1, 0, 3),
+)
+
+fun box(): String {
+    val m = f()
+    if (m.toString() == """@kotlin.Metadata(bytecodeVersion=[1, 0, 3], data1=[], data2=[], extraInt=0, extraString=, kind=0, metadataVersion=[], packageName=foo)""")
+        return "OK"
+    return m.toString()
+}
\ No newline at end of file
diff --git a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
index 7ef3db8a5a7..e160fc79670 100644
--- a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
+++ b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
@@ -455,6 +455,12 @@ public class IrBlackBoxCodegenTestGenerated extends AbstractIrBlackBoxCodegenTes
                 runTest("compiler/testData/codegen/box/annotations/instances/javaAnnotation.kt");
             }
 
+            @Test
+            @TestMetadata("kotlinExistingAnnotation.kt")
+            public void testKotlinExistingAnnotation() throws Exception {
+                runTest("compiler/testData/codegen/box/annotations/instances/kotlinExistingAnnotation.kt");
+            }
+
             @Test
             @TestMetadata("multifileEqHc.kt")
             public void testMultifileEqHc() throws Exception {