diff --git a/kotlin-native/backend.native/compiler/ir/backend.native/src/org/jetbrains/kotlin/backend/konan/serialization/KonanIrlinker.kt b/kotlin-native/backend.native/compiler/ir/backend.native/src/org/jetbrains/kotlin/backend/konan/serialization/KonanIrlinker.kt
index fa836b01f67..ea66e8072c6 100644
--- a/kotlin-native/backend.native/compiler/ir/backend.native/src/org/jetbrains/kotlin/backend/konan/serialization/KonanIrlinker.kt
+++ b/kotlin-native/backend.native/compiler/ir/backend.native/src/org/jetbrains/kotlin/backend/konan/serialization/KonanIrlinker.kt
@@ -363,8 +363,7 @@ internal class KonanIrLinker(
             }
 
     override fun postProcess() {
-        if (lazyIrForCaches)
-            stubGenerator.unboundSymbolGeneration = true
+        stubGenerator.unboundSymbolGeneration = true
         super.postProcess()
     }
 
diff --git a/kotlin-native/backend.native/tests/build.gradle b/kotlin-native/backend.native/tests/build.gradle
index 279ccf8007a..03f188f23d0 100644
--- a/kotlin-native/backend.native/tests/build.gradle
+++ b/kotlin-native/backend.native/tests/build.gradle
@@ -4327,6 +4327,10 @@ if (PlatformInfo.isAppleTarget(project)) {
         it.defFile 'interop/objc/kt42172/objclib.def'
         it.headers "$projectDir/interop/objc/kt42172/objclib.h"
     }
+    createInterop("objc_kt48816") {
+        it.defFile 'interop/objc/kt48816/objclib.def'
+        it.headers "$projectDir/interop/objc/kt48816/objclib.h"
+    }
 }
 
 createInterop("withSpaces") {
@@ -4952,6 +4956,20 @@ if (PlatformInfo.isAppleTarget(project)) {
         }
     }
 
+    interopTest("interop_objc_kt48816_without_lazy_ir_for_caches") {
+        // Without a fix, fails in two-stage mode.
+        source = "interop/objc/kt48816/main.kt"
+        interop = "objc_kt48816"
+        // The bug was accidentally fixed with lazy IR for caches, so testing it with this feature disabled:
+        flags = ["-Xlazy-ir-for-caches=disable"]
+    }
+
+    interopTest("interop_objc_kt48816_with_lazy_ir_for_caches") {
+        source = "interop/objc/kt48816/main.kt"
+        interop = "objc_kt48816"
+        flags = ["-Xlazy-ir-for-caches=enable"]
+    }
+
     standaloneTest("objc_arc_contract") {
         doBeforeBuild {
             mkdir(buildDir)
diff --git a/kotlin-native/backend.native/tests/interop/objc/kt48816/main.kt b/kotlin-native/backend.native/tests/interop/objc/kt48816/main.kt
new file mode 100644
index 00000000000..3d97bf3750b
--- /dev/null
+++ b/kotlin-native/backend.native/tests/interop/objc/kt48816/main.kt
@@ -0,0 +1,51 @@
+import kotlin.reflect.*
+import kotlin.test.*
+import objclib.*
+
+// https://youtrack.jetbrains.com/issue/KT-48816
+open class Base<Ref> {
+    operator fun KProperty1<Ref, NSUUID>.getValue(ref: Base<Ref>, property: KProperty<*>): NSUUID? {
+        return null
+    }
+    operator fun KProperty1<Ref, NSDate>.getValue(ref: Base<Ref>, property: KProperty<*>): NSDate? {
+        return null
+    }
+}
+class Usage: Base<B>()
+class B
+
+// The compilation should fail with the above;
+// but anyway try to actually use the code, just to ensure it doesn't get DCEd:
+
+val B.uuid: NSUUID get() = fail()
+val B.date: NSDate get() = fail()
+
+fun test1() {
+    val uuidProperty = B::uuid
+    val dateProperty = B::date
+    val usage = Usage()
+    with(usage) {
+        assertNull(uuidProperty.getValue(usage, uuidProperty))
+        assertNull(dateProperty.getValue(usage, dateProperty))
+    }
+}
+
+// One more reproducer, just in case:
+class Property<out R>
+
+open class Base2 {
+    fun getValue(property: Property<MyClass1>) = null
+    fun getValue(property: Property<MyClass2>) = null
+}
+class Usage2 : Base2()
+
+fun test2() {
+    val usage = Usage2()
+    assertNull(usage.getValue(Property<MyClass1>()))
+    assertNull(usage.getValue(Property<MyClass2>()))
+}
+
+fun main() {
+    test1()
+    test2()
+}
\ No newline at end of file
diff --git a/kotlin-native/backend.native/tests/interop/objc/kt48816/objclib.def b/kotlin-native/backend.native/tests/interop/objc/kt48816/objclib.def
new file mode 100644
index 00000000000..8dfe477cdbd
--- /dev/null
+++ b/kotlin-native/backend.native/tests/interop/objc/kt48816/objclib.def
@@ -0,0 +1,2 @@
+language = Objective-C
+headerFilter = **/objclib.h **/NSObject.h **/NSDate.h **/NSUUID.h
diff --git a/kotlin-native/backend.native/tests/interop/objc/kt48816/objclib.h b/kotlin-native/backend.native/tests/interop/objc/kt48816/objclib.h
new file mode 100644
index 00000000000..783eca32a8f
--- /dev/null
+++ b/kotlin-native/backend.native/tests/interop/objc/kt48816/objclib.h
@@ -0,0 +1,9 @@
+#import <Foundation/NSObject.h>
+#import <Foundation/NSDate.h>
+#import <Foundation/NSUUID.h>
+
+@interface MyClass1 : NSObject
+@end;
+
+@interface MyClass2 : NSObject
+@end;