diff --git a/compiler/backend/src/org/jetbrains/kotlin/codegen/ExpressionCodegen.java b/compiler/backend/src/org/jetbrains/kotlin/codegen/ExpressionCodegen.java
index d12dbeab9ac..e8262db801e 100644
--- a/compiler/backend/src/org/jetbrains/kotlin/codegen/ExpressionCodegen.java
+++ b/compiler/backend/src/org/jetbrains/kotlin/codegen/ExpressionCodegen.java
@@ -2646,7 +2646,13 @@ public class ExpressionCodegen extends KtVisitor<StackValue, StackValue> impleme
 
         KotlinType returnType = resolvedCall.getResultingDescriptor().getReturnType();
         if (returnType != null && KotlinBuiltIns.isNothing(returnType)) {
-            v.aconst(null);
+            if (state.getLanguageVersionSettings().getApiVersion().compareTo(ApiVersion.KOTLIN_1_4) >= 0) {
+                v.anew(Type.getObjectType("kotlin/KotlinNothingValueException"));
+                v.dup();
+                v.invokespecial("kotlin/KotlinNothingValueException", "<init>", "()V", false);
+            } else {
+                v.aconst(null);
+            }
             v.athrow();
         }
     }
diff --git a/compiler/fir/fir2ir/tests/org/jetbrains/kotlin/codegen/ir/FirBlackBoxCodegenTestGenerated.java b/compiler/fir/fir2ir/tests/org/jetbrains/kotlin/codegen/ir/FirBlackBoxCodegenTestGenerated.java
index a480b7a2710..fd82b92332b 100644
--- a/compiler/fir/fir2ir/tests/org/jetbrains/kotlin/codegen/ir/FirBlackBoxCodegenTestGenerated.java
+++ b/compiler/fir/fir2ir/tests/org/jetbrains/kotlin/codegen/ir/FirBlackBoxCodegenTestGenerated.java
@@ -17262,6 +17262,24 @@ public class FirBlackBoxCodegenTestGenerated extends AbstractFirBlackBoxCodegenT
         }
     }
 
+    @TestMetadata("compiler/testData/codegen/box/nothingValue")
+    @TestDataPath("$PROJECT_ROOT")
+    @RunWith(JUnit3RunnerWithInners.class)
+    public static class NothingValue extends AbstractFirBlackBoxCodegenTest {
+        private void runTest(String testDataFilePath) throws Exception {
+            KotlinTestUtils.runTestWithCustomIgnoreDirective(this::doTest, TargetBackend.JVM_IR, testDataFilePath, "// IGNORE_BACKEND_FIR: ");
+        }
+
+        public void testAllFilesPresentInNothingValue() throws Exception {
+            KotlinTestUtils.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/nothingValue"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.JVM_IR, true);
+        }
+
+        @TestMetadata("nothingValueException.kt")
+        public void testNothingValueException() throws Exception {
+            runTest("compiler/testData/codegen/box/nothingValue/nothingValueException.kt");
+        }
+    }
+
     @TestMetadata("compiler/testData/codegen/box/nullCheckOptimization")
     @TestDataPath("$PROJECT_ROOT")
     @RunWith(JUnit3RunnerWithInners.class)
diff --git a/compiler/testData/codegen/box/nothingValue/nothingValueException.kt b/compiler/testData/codegen/box/nothingValue/nothingValueException.kt
new file mode 100644
index 00000000000..1fd3671ed40
--- /dev/null
+++ b/compiler/testData/codegen/box/nothingValue/nothingValueException.kt
@@ -0,0 +1,29 @@
+// IGNORE_BACKEND_FIR: JVM_IR
+// IGNORE_BACKEND: JS, JS_IR, JVM_IR, NATIVE
+
+fun <T> something(): T = Any() as T
+
+class Context<T>
+
+fun <T> Any.decodeIn(typeFrom: Context<in T>): T = something()
+
+fun <T> Any?.decodeOut(typeFrom: Context<out T>): T {
+    return this?.decodeIn(typeFrom) // decodeIn result is of type Nothing
+        ?: throw AssertionError("")
+}
+
+fun box(): String {
+    try {
+        "str".decodeOut(Context<Any>())
+    } catch (e: Exception) {
+        // TODO check FQN
+        val exceptionClassName = e::class.simpleName
+        if (exceptionClassName != "KotlinNothingValueException") {
+            throw AssertionError("Unexpected exception: $e")
+        } else {
+            return "OK"
+        }
+    }
+
+    throw AssertionError("Should fail with exception")
+}
\ No newline at end of file
diff --git a/compiler/tests/org/jetbrains/kotlin/codegen/BlackBoxCodegenTestGenerated.java b/compiler/tests/org/jetbrains/kotlin/codegen/BlackBoxCodegenTestGenerated.java
index 0b4c96b2d0d..93b2c91c4c6 100644
--- a/compiler/tests/org/jetbrains/kotlin/codegen/BlackBoxCodegenTestGenerated.java
+++ b/compiler/tests/org/jetbrains/kotlin/codegen/BlackBoxCodegenTestGenerated.java
@@ -18477,6 +18477,24 @@ public class BlackBoxCodegenTestGenerated extends AbstractBlackBoxCodegenTest {
         }
     }
 
+    @TestMetadata("compiler/testData/codegen/box/nothingValue")
+    @TestDataPath("$PROJECT_ROOT")
+    @RunWith(JUnit3RunnerWithInners.class)
+    public static class NothingValue extends AbstractBlackBoxCodegenTest {
+        private void runTest(String testDataFilePath) throws Exception {
+            KotlinTestUtils.runTest(this::doTest, TargetBackend.JVM, testDataFilePath);
+        }
+
+        public void testAllFilesPresentInNothingValue() throws Exception {
+            KotlinTestUtils.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/nothingValue"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.JVM, true);
+        }
+
+        @TestMetadata("nothingValueException.kt")
+        public void testNothingValueException() throws Exception {
+            runTest("compiler/testData/codegen/box/nothingValue/nothingValueException.kt");
+        }
+    }
+
     @TestMetadata("compiler/testData/codegen/box/nullCheckOptimization")
     @TestDataPath("$PROJECT_ROOT")
     @RunWith(JUnit3RunnerWithInners.class)
diff --git a/compiler/tests/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java b/compiler/tests/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
index 49886e7ffd9..fef5472297a 100644
--- a/compiler/tests/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
+++ b/compiler/tests/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
@@ -18477,6 +18477,24 @@ public class LightAnalysisModeTestGenerated extends AbstractLightAnalysisModeTes
         }
     }
 
+    @TestMetadata("compiler/testData/codegen/box/nothingValue")
+    @TestDataPath("$PROJECT_ROOT")
+    @RunWith(JUnit3RunnerWithInners.class)
+    public static class NothingValue extends AbstractLightAnalysisModeTest {
+        private void runTest(String testDataFilePath) throws Exception {
+            KotlinTestUtils.runTest(this::doTest, TargetBackend.JVM, testDataFilePath);
+        }
+
+        public void testAllFilesPresentInNothingValue() throws Exception {
+            KotlinTestUtils.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/nothingValue"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.JVM, true);
+        }
+
+        @TestMetadata("nothingValueException.kt")
+        public void testNothingValueException() throws Exception {
+            runTest("compiler/testData/codegen/box/nothingValue/nothingValueException.kt");
+        }
+    }
+
     @TestMetadata("compiler/testData/codegen/box/nullCheckOptimization")
     @TestDataPath("$PROJECT_ROOT")
     @RunWith(JUnit3RunnerWithInners.class)
diff --git a/compiler/tests/org/jetbrains/kotlin/codegen/ir/IrBlackBoxCodegenTestGenerated.java b/compiler/tests/org/jetbrains/kotlin/codegen/ir/IrBlackBoxCodegenTestGenerated.java
index cae7e1c4e07..05d1f2f0b6f 100644
--- a/compiler/tests/org/jetbrains/kotlin/codegen/ir/IrBlackBoxCodegenTestGenerated.java
+++ b/compiler/tests/org/jetbrains/kotlin/codegen/ir/IrBlackBoxCodegenTestGenerated.java
@@ -17262,6 +17262,24 @@ public class IrBlackBoxCodegenTestGenerated extends AbstractIrBlackBoxCodegenTes
         }
     }
 
+    @TestMetadata("compiler/testData/codegen/box/nothingValue")
+    @TestDataPath("$PROJECT_ROOT")
+    @RunWith(JUnit3RunnerWithInners.class)
+    public static class NothingValue extends AbstractIrBlackBoxCodegenTest {
+        private void runTest(String testDataFilePath) throws Exception {
+            KotlinTestUtils.runTest(this::doTest, TargetBackend.JVM_IR, testDataFilePath);
+        }
+
+        public void testAllFilesPresentInNothingValue() throws Exception {
+            KotlinTestUtils.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/nothingValue"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.JVM_IR, true);
+        }
+
+        @TestMetadata("nothingValueException.kt")
+        public void testNothingValueException() throws Exception {
+            runTest("compiler/testData/codegen/box/nothingValue/nothingValueException.kt");
+        }
+    }
+
     @TestMetadata("compiler/testData/codegen/box/nullCheckOptimization")
     @TestDataPath("$PROJECT_ROOT")
     @RunWith(JUnit3RunnerWithInners.class)
diff --git a/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java b/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
index ba1b1ea5d9a..880ad667c5b 100644
--- a/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
+++ b/js/js.tests/test/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
@@ -13902,6 +13902,24 @@ public class IrJsCodegenBoxTestGenerated extends AbstractIrJsCodegenBoxTest {
         }
     }
 
+    @TestMetadata("compiler/testData/codegen/box/nothingValue")
+    @TestDataPath("$PROJECT_ROOT")
+    @RunWith(JUnit3RunnerWithInners.class)
+    public static class NothingValue extends AbstractIrJsCodegenBoxTest {
+        private void runTest(String testDataFilePath) throws Exception {
+            KotlinTestUtils.runTest0(this::doTest, TargetBackend.JS_IR, testDataFilePath);
+        }
+
+        public void testAllFilesPresentInNothingValue() throws Exception {
+            KotlinTestUtils.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/nothingValue"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.JS_IR, true);
+        }
+
+        @TestMetadata("nothingValueException.kt")
+        public void testNothingValueException() throws Exception {
+            runTest("compiler/testData/codegen/box/nothingValue/nothingValueException.kt");
+        }
+    }
+
     @TestMetadata("compiler/testData/codegen/box/nullCheckOptimization")
     @TestDataPath("$PROJECT_ROOT")
     @RunWith(JUnit3RunnerWithInners.class)
diff --git a/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java b/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
index 746ef5fc504..2955d2c05eb 100644
--- a/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
+++ b/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
@@ -13967,6 +13967,24 @@ public class JsCodegenBoxTestGenerated extends AbstractJsCodegenBoxTest {
         }
     }
 
+    @TestMetadata("compiler/testData/codegen/box/nothingValue")
+    @TestDataPath("$PROJECT_ROOT")
+    @RunWith(JUnit3RunnerWithInners.class)
+    public static class NothingValue extends AbstractJsCodegenBoxTest {
+        private void runTest(String testDataFilePath) throws Exception {
+            KotlinTestUtils.runTest0(this::doTest, TargetBackend.JS, testDataFilePath);
+        }
+
+        public void testAllFilesPresentInNothingValue() throws Exception {
+            KotlinTestUtils.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("compiler/testData/codegen/box/nothingValue"), Pattern.compile("^(.+)\\.kt$"), null, TargetBackend.JS, true);
+        }
+
+        @TestMetadata("nothingValueException.kt")
+        public void testNothingValueException() throws Exception {
+            runTest("compiler/testData/codegen/box/nothingValue/nothingValueException.kt");
+        }
+    }
+
     @TestMetadata("compiler/testData/codegen/box/nullCheckOptimization")
     @TestDataPath("$PROJECT_ROOT")
     @RunWith(JUnit3RunnerWithInners.class)