diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/src/org/jetbrains/kotlin/idea/fir/low/level/api/FirModuleResolveStateDepended.kt b/idea/idea-frontend-fir/idea-fir-low-level-api/src/org/jetbrains/kotlin/idea/fir/low/level/api/FirModuleResolveStateDepended.kt
index 52bd3b1ac5d..ebbf519cea3 100644
--- a/idea/idea-frontend-fir/idea-fir-low-level-api/src/org/jetbrains/kotlin/idea/fir/low/level/api/FirModuleResolveStateDepended.kt
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/src/org/jetbrains/kotlin/idea/fir/low/level/api/FirModuleResolveStateDepended.kt
@@ -42,7 +42,7 @@ internal class FirModuleResolveStateDepended(
         originalState.getSessionFor(moduleInfo)
 
     override fun getOrBuildFirFor(element: KtElement): FirElement? {
-        val psi = originalState.elementBuilder.getPsiAsFirElementSource(element)
+        val psi = originalState.elementBuilder.getPsiAsFirElementSource(element) ?: return null
 
         ktToFirMapping?.getFirOfClosestParent(psi, this)?.let { return it }
 
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/src/org/jetbrains/kotlin/idea/fir/low/level/api/element/builder/FirElementBuilder.kt b/idea/idea-frontend-fir/idea-fir-low-level-api/src/org/jetbrains/kotlin/idea/fir/low/level/api/element/builder/FirElementBuilder.kt
index bd1f07ac625..a7211c81a79 100644
--- a/idea/idea-frontend-fir/idea-fir-low-level-api/src/org/jetbrains/kotlin/idea/fir/low/level/api/element/builder/FirElementBuilder.kt
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/src/org/jetbrains/kotlin/idea/fir/low/level/api/element/builder/FirElementBuilder.kt
@@ -32,7 +32,7 @@ import org.jetbrains.kotlin.psi2ir.deparenthesize
  */
 @ThreadSafe
 internal class FirElementBuilder {
-    fun getPsiAsFirElementSource(element: KtElement): KtElement {
+    fun getPsiAsFirElementSource(element: KtElement): KtElement? {
         val deparenthesized = if (element is KtPropertyDelegate) element.deparenthesize() else element
         return when {
             deparenthesized is KtParenthesizedExpression -> deparenthesized.deparenthesize()
@@ -44,6 +44,10 @@ internal class FirElementBuilder {
                  */
                 deparenthesized.selectorExpression ?: error("Incomplete code:\n${element.getElementTextInContext()}")
             }
+            deparenthesized is KtValueArgument -> {
+                // null will be return in case of invalid KtValueArgument
+                deparenthesized.getArgumentExpression()
+            }
             else -> deparenthesized
         }
     }
@@ -88,7 +92,7 @@ internal class FirElementBuilder {
         val fileStructure = fileStructureCache.getFileStructure(firFile, moduleFileCache)
 
         val mappings = fileStructure.getStructureElementFor(element).mappings
-        val psi = getPsiAsFirElementSource(element)
+        val psi = getPsiAsFirElementSource(element) ?: return null
         return mappings.getFirOfClosestParent(psi, state)
             ?: state.getOrBuildFirFile(firFile)
     }
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationArgument.kt b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationArgument.kt
new file mode 100644
index 00000000000..c9c6b9e74f9
--- /dev/null
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationArgument.kt
@@ -0,0 +1,6 @@
+public annotation class Annotation(val name: String)
+
+@Annotation(<expr>"y"</expr>)
+fun x() {
+
+}
\ No newline at end of file
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationArgument.txt b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationArgument.txt
new file mode 100644
index 00000000000..f7be7739b8b
--- /dev/null
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationArgument.txt
@@ -0,0 +1,5 @@
+KT element: KtValueArgument
+FIR element: FirConstExpressionImpl
+
+FIR element rendered:
+String(y)
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationCallExpression.kt b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationCallExpression.kt
new file mode 100644
index 00000000000..92b19ae6c04
--- /dev/null
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationCallExpression.kt
@@ -0,0 +1,5 @@
+// LOOK_UP_FOR_ELEMENT_OF_TYPE: org.jetbrains.kotlin.psi.KtConstructorCalleeExpression
+@<expr>Suppress</expr>("")
+fun x() {
+
+}
\ No newline at end of file
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationCallExpression.txt b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationCallExpression.txt
new file mode 100644
index 00000000000..e7fe74a878e
--- /dev/null
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationCallExpression.txt
@@ -0,0 +1,5 @@
+KT element: KtConstructorCalleeExpression
+FIR element: FirAnnotationCallImpl
+
+FIR element rendered:
+@R|kotlin/Suppress|(vararg(String()))
\ No newline at end of file
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationVarargArgument.kt b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationVarargArgument.kt
new file mode 100644
index 00000000000..2e36ccfa829
--- /dev/null
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationVarargArgument.kt
@@ -0,0 +1,4 @@
+@Suppress("1", <expr>"2"</expr>)
+fun x() {
+
+}
\ No newline at end of file
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationVarargArgument.txt b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationVarargArgument.txt
new file mode 100644
index 00000000000..8b8d0a160d8
--- /dev/null
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationVarargArgument.txt
@@ -0,0 +1,5 @@
+KT element: KtValueArgument
+FIR element: FirConstExpressionImpl
+
+FIR element rendered:
+String(2)
\ No newline at end of file
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationWithArguments.kt b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationWithArguments.kt
new file mode 100644
index 00000000000..9a03d27fdf8
--- /dev/null
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationWithArguments.kt
@@ -0,0 +1,5 @@
+// LOOK_UP_FOR_ELEMENT_OF_TYPE: org.jetbrains.kotlin.psi.KtAnnotationEntry
+<expr>@Suppress("")</expr>
+fun x() {
+
+}
\ No newline at end of file
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationWithArguments.txt b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationWithArguments.txt
new file mode 100644
index 00000000000..296eb338fdd
--- /dev/null
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationWithArguments.txt
@@ -0,0 +1,5 @@
+KT element: KtAnnotationEntry
+FIR element: FirAnnotationCallImpl
+
+FIR element rendered:
+@R|kotlin/Suppress|(vararg(String()))
\ No newline at end of file
diff --git a/idea/idea-frontend-fir/idea-fir-low-level-api/tests/org/jetbrains/kotlin/idea/fir/low/level/api/GetOrBuildFirTestGenerated.java b/idea/idea-frontend-fir/idea-fir-low-level-api/tests/org/jetbrains/kotlin/idea/fir/low/level/api/GetOrBuildFirTestGenerated.java
index cde7ad9dfee..c2d8bd59bcd 100644
--- a/idea/idea-frontend-fir/idea-fir-low-level-api/tests/org/jetbrains/kotlin/idea/fir/low/level/api/GetOrBuildFirTestGenerated.java
+++ b/idea/idea-frontend-fir/idea-fir-low-level-api/tests/org/jetbrains/kotlin/idea/fir/low/level/api/GetOrBuildFirTestGenerated.java
@@ -24,6 +24,40 @@ public class GetOrBuildFirTestGenerated extends AbstractGetOrBuildFirTest {
         KtTestUtil.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir"), Pattern.compile("^(.+)\\.kt$"), null, true);
     }
 
+    @Nested
+    @TestMetadata("idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations")
+    @TestDataPath("$PROJECT_ROOT")
+    public class Annotations {
+        @Test
+        public void testAllFilesPresentInAnnotations() throws Exception {
+            KtTestUtil.assertAllTestsPresentByMetadataWithExcluded(this.getClass(), new File("idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations"), Pattern.compile("^(.+)\\.kt$"), null, true);
+        }
+
+        @Test
+        @TestMetadata("annotationApplicationArgument.kt")
+        public void testAnnotationApplicationArgument() throws Exception {
+            runTest("idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationArgument.kt");
+        }
+
+        @Test
+        @TestMetadata("annotationApplicationCallExpression.kt")
+        public void testAnnotationApplicationCallExpression() throws Exception {
+            runTest("idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationCallExpression.kt");
+        }
+
+        @Test
+        @TestMetadata("annotationApplicationVarargArgument.kt")
+        public void testAnnotationApplicationVarargArgument() throws Exception {
+            runTest("idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationVarargArgument.kt");
+        }
+
+        @Test
+        @TestMetadata("annotationApplicationWithArguments.kt")
+        public void testAnnotationApplicationWithArguments() throws Exception {
+            runTest("idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/annotations/annotationApplicationWithArguments.kt");
+        }
+    }
+
     @Nested
     @TestMetadata("idea/idea-frontend-fir/idea-fir-low-level-api/testdata/getOrBuildFir/inImport")
     @TestDataPath("$PROJECT_ROOT")