diff --git a/mlir/lib/Conversion/VectorToSCF/VectorToSCF.cpp b/mlir/lib/Conversion/VectorToSCF/VectorToSCF.cpp
--- a/mlir/lib/Conversion/VectorToSCF/VectorToSCF.cpp
+++ b/mlir/lib/Conversion/VectorToSCF/VectorToSCF.cpp
@@ -267,15 +267,22 @@
   Value maskBuffer;
 };
 
+// TODO: Parallelism and threadlocal considerations with a ParallelScope trait.
+static Operation *getAutomaticAllocationScope(Operation *op) {
+  Operation *scope =
+      op->getParentWithTrait<OpTrait::AutomaticAllocationScope>();
+  assert(scope && "Expected op to be inside automatic allocation scope");
+  return scope;
+}
+
 /// Allocate temporary buffers for data (vector) and mask (if present).
-/// TODO: Parallelism and threadlocal considerations.
 template <typename OpTy>
 static BufferAllocs allocBuffers(OpBuilder &b, OpTy xferOp) {
   Location loc = xferOp.getLoc();
   OpBuilder::InsertionGuard guard(b);
-  Operation *scope =
-      xferOp->template getParentWithTrait<OpTrait::AutomaticAllocationScope>();
-  assert(scope && "Expected op to be inside automatic allocation scope");
+  Operation *scope = getAutomaticAllocationScope(xferOp);
+  assert(scope->getNumRegions() == 1 &&
+         "AutomaticAllocationScope with >1 regions");
   b.setInsertionPointToStart(&scope->getRegion(0).front());
 
   BufferAllocs result;
diff --git a/mlir/lib/Dialect/Vector/Transforms/VectorTransferSplitRewritePatterns.cpp b/mlir/lib/Dialect/Vector/Transforms/VectorTransferSplitRewritePatterns.cpp
--- a/mlir/lib/Dialect/Vector/Transforms/VectorTransferSplitRewritePatterns.cpp
+++ b/mlir/lib/Dialect/Vector/Transforms/VectorTransferSplitRewritePatterns.cpp
@@ -438,6 +438,14 @@
   });
 }
 
+// TODO: Parallelism and threadlocal considerations with a ParallelScope trait.
+static Operation *getAutomaticAllocationScope(Operation *op) {
+  Operation *scope =
+      op->getParentWithTrait<OpTrait::AutomaticAllocationScope>();
+  assert(scope && "Expected op to be inside automatic allocation scope");
+  return scope;
+}
+
 /// Split a vector.transfer operation into an in-bounds (i.e., no out-of-bounds
 /// masking) fastpath and a slowpath.
 ///
@@ -538,12 +546,14 @@
   // Top of the function `alloc` for transient storage.
   Value alloc;
   {
-    FuncOp funcOp = xferOp->getParentOfType<FuncOp>();
     RewriterBase::InsertionGuard guard(b);
-    b.setInsertionPointToStart(&funcOp.getRegion().front());
+    Operation *scope = getAutomaticAllocationScope(xferOp);
+    assert(scope->getNumRegions() == 1 &&
+           "AutomaticAllocationScope with >1 regions");
+    b.setInsertionPointToStart(&scope->getRegion(0).front());
     auto shape = xferOp.getVectorType().getShape();
     Type elementType = xferOp.getVectorType().getElementType();
-    alloc = b.create<memref::AllocaOp>(funcOp.getLoc(),
+    alloc = b.create<memref::AllocaOp>(scope->getLoc(),
                                        MemRefType::get(shape, elementType),
                                        ValueRange{}, b.getI64IntegerAttr(32));
   }
diff --git a/mlir/test/Conversion/VectorToSCF/vector-to-scf.mlir b/mlir/test/Conversion/VectorToSCF/vector-to-scf.mlir
--- a/mlir/test/Conversion/VectorToSCF/vector-to-scf.mlir
+++ b/mlir/test/Conversion/VectorToSCF/vector-to-scf.mlir
@@ -481,3 +481,22 @@
 // CHECK-LABEL: transfer_write_strided(
 // CHECK: scf.for
 // CHECK: store
+
+// -----
+
+func private @fake_side_effecting_fun(%0: vector<2x2xf32>) -> ()
+
+// CHECK-LABEL: transfer_read_within_async_execute
+func @transfer_read_within_async_execute(%A : memref<2x2xf32>) -> !async.token {
+  %c0 = arith.constant 0 : index
+  %f0 = arith.constant 0.0 : f32
+  // CHECK-NOT: alloca
+  //     CHECK: async.execute
+  //     CHECK:   alloca
+  %token = async.execute {
+    %0 = vector.transfer_read %A[%c0, %c0], %f0 : memref<2x2xf32>, vector<2x2xf32>
+    call @fake_side_effecting_fun(%0) : (vector<2x2xf32>) -> ()
+    async.yield
+  }
+  return %token : !async.token
+}
diff --git a/mlir/test/Dialect/Vector/vector-transfer-full-partial-split.mlir b/mlir/test/Dialect/Vector/vector-transfer-full-partial-split.mlir
--- a/mlir/test/Dialect/Vector/vector-transfer-full-partial-split.mlir
+++ b/mlir/test/Dialect/Vector/vector-transfer-full-partial-split.mlir
@@ -393,3 +393,22 @@
 // LINALG:           }
 // LINALG:           return
 // LINALG:         }
+
+// -----
+
+func private @fake_side_effecting_fun(%0: vector<2x2xf32>) -> ()
+
+// CHECK-LABEL: transfer_read_within_async_execute
+func @transfer_read_within_async_execute(%A : memref<?x?xf32>) -> !async.token {
+  %c0 = arith.constant 0 : index
+  %f0 = arith.constant 0.0 : f32
+  // CHECK-NOT: alloca
+  //     CHECK: async.execute
+  //     CHECK:   alloca
+  %token = async.execute {
+    %0 = vector.transfer_read %A[%c0, %c0], %f0 : memref<?x?xf32>, vector<2x2xf32>
+    call @fake_side_effecting_fun(%0) : (vector<2x2xf32>) -> ()
+    async.yield
+  }
+  return %token : !async.token
+}