Index: include/llvm/IR/GlobalValue.h
===================================================================
--- include/llvm/IR/GlobalValue.h
+++ include/llvm/IR/GlobalValue.h
@@ -143,12 +143,6 @@
     llvm_unreachable("Fully covered switch above!");
   }
 
-  void maybeSetDsoLocal() {
-    if (hasLocalLinkage() ||
-        (!hasDefaultVisibility() && !hasExternalWeakLinkage()))
-      setDSOLocal(true);
-  }
-
 protected:
   /// The intrinsic ID for this subclass (which must be a Function).
   ///
@@ -197,6 +191,15 @@
     Global,
   };
 
+  void maybeSetDsoLocal() {
+    if (hasLocalLinkage() ||
+        (!hasDefaultVisibility() && !hasExternalWeakLinkage())) {
+      setDSOLocal(true);
+      if (hasDLLImportStorageClass())
+        setDLLStorageClass(DLLStorageClassTypes::DLLExportStorageClass);
+    }
+  }
+
   bool hasGlobalUnnamedAddr() const {
     return getUnnamedAddr() == UnnamedAddr::Global;
   }
Index: lib/Bitcode/Reader/BitcodeReader.cpp
===================================================================
--- lib/Bitcode/Reader/BitcodeReader.cpp
+++ lib/Bitcode/Reader/BitcodeReader.cpp
@@ -2868,13 +2868,6 @@
   return Error::success();
 }
 
-static void inferDSOLocal(GlobalValue *GV) {
-  // infer dso_local from linkage and visibility if it is not encoded.
-  if (GV->hasLocalLinkage() ||
-      (!GV->hasDefaultVisibility() && !GV->hasExternalWeakLinkage()))
-    GV->setDSOLocal(true);
-}
-
 Error BitcodeReader::parseGlobalVarRecord(ArrayRef<uint64_t> Record) {
   // v1: [pointer type, isconst, initid, linkage, alignment, section,
   // visibility, threadlocal, unnamed_addr, externally_initialized,
@@ -2967,7 +2960,7 @@
   if (Record.size() > 13) {
     NewGV->setDSOLocal(getDecodedDSOLocal(Record[13]));
   }
-  inferDSOLocal(NewGV);
+  NewGV->maybeSetDsoLocal();
 
   return Error::success();
 }
@@ -3056,7 +3049,7 @@
   if (Record.size() > 15) {
     Func->setDSOLocal(getDecodedDSOLocal(Record[15]));
   }
-  inferDSOLocal(Func);
+  Func->maybeSetDsoLocal();
 
   ValueList.push_back(Func);
 
@@ -3133,7 +3126,7 @@
   }
   if (OpNum != Record.size())
     NewGA->setDSOLocal(getDecodedDSOLocal(Record[OpNum++]));
-  inferDSOLocal(NewGA);
+  NewGA->maybeSetDsoLocal();
 
   ValueList.push_back(NewGA);
   IndirectSymbolInits.push_back(std::make_pair(NewGA, Val));
Index: lib/LTO/LTO.cpp
===================================================================
--- lib/LTO/LTO.cpp
+++ lib/LTO/LTO.cpp
@@ -691,8 +691,12 @@
       }
 
       // Set the 'local' flag based on the linker resolution for this symbol.
-      if (Res.FinalDefinitionInLinkageUnit)
+      if (Res.FinalDefinitionInLinkageUnit) {
         GV->setDSOLocal(true);
+        if (GV->hasDLLImportStorageClass())
+          GV->setDLLStorageClass(GlobalValue::DLLStorageClassTypes::
+                                 DLLExportStorageClass);
+      }
     }
     // Common resolution: collect the maximum size/alignment over all commons.
     // We also record if we see an instance of a common as prevailing, so that
Index: lib/Transforms/Utils/FunctionImportUtils.cpp
===================================================================
--- lib/Transforms/Utils/FunctionImportUtils.cpp
+++ lib/Transforms/Utils/FunctionImportUtils.cpp
@@ -211,7 +211,7 @@
     if (VI && VI.isDSOLocal()) {
       GV.setDSOLocal(true);
       if (GV.hasDLLImportStorageClass())
-        GV.setDLLStorageClass(GlobalValue::DefaultStorageClass);
+        GV.setDLLStorageClass(GlobalValue::DLLExportStorageClass);
     }
   }
 
Index: test/LTO/Resolution/X86/local-def-dllimport.ll
===================================================================
--- /dev/null
+++ test/LTO/Resolution/X86/local-def-dllimport.ll
@@ -0,0 +1,32 @@
+; RUN: opt -thinlto-bc -o %t0.bc %s
+; RUN: llvm-lto2 run -r %t0.bc,__imp_f,l \
+; RUN:               -r %t0.bc,g,p \
+; RUN:               -r %t0.bc,g,l \
+; RUN:               -r %t0.bc,e,l \
+; RUN:               -r %t0.bc,main,x \
+; RUN:               -save-temps -o %t1 %t0.bc
+; RUN: llvm-dis %t1.1.3.import.bc -o - | FileCheck %s
+source_filename = "test.cpp"
+target datalayout = "e-m:e-i64:64-f80:128-n8:16:32:64-S128"
+target triple = "x86_64-unknown-linux-gnu"
+
+$g = comdat any
+@g = global i8 42, comdat, !type !0
+
+; CHECK: define
+; CHECK-SAME: dllexport
+; CHECK-SAME: @f
+define available_externally dllimport i8* @f() {
+  ret i8* @g
+}
+
+define i8* @e() {
+  ret i8* @g
+}
+
+define i32 @main() {
+  %1 = call i8* @f()
+  %2 = ptrtoint i8* %1 to i32
+  ret i32 %2
+}
+!0 = !{i32 0, !"typeid"}
Index: test/ThinLTO/X86/dsolocal_dllimport.ll
===================================================================
--- test/ThinLTO/X86/dsolocal_dllimport.ll
+++ test/ThinLTO/X86/dsolocal_dllimport.ll
@@ -3,9 +3,10 @@
 ; RUN: llvm-lto2 run %t1.bc %t2.bc -o %t -r=%t1.bc,bar,px -r=%t1.bc,__imp_foo, -r=%t2.bc,foo -save-temps
 ; RUN: llvm-dis < %t.1.3.import.bc | FileCheck %s
 
-; If a user (dllimport) is LTOed with a library, check that we replace dllimport with dso_local.
+; If a user (dllimport) is LTOed with a library, check that we replace dllimport with dllexport and mark
+; the function as dso_local.
 
-; CHECK: declare dso_local void @foo()
+; CHECK: declare dso_local dllexport void @foo()
 
 target datalayout = "e-m:w-i64:64-f80:128-n8:16:32:64-S128"
 target triple = "x86_64-pc-windows-msvc19.11.0"