diff --git a/llvm/lib/Transforms/Utils/InlineFunction.cpp b/llvm/lib/Transforms/Utils/InlineFunction.cpp
--- a/llvm/lib/Transforms/Utils/InlineFunction.cpp
+++ b/llvm/lib/Transforms/Utils/InlineFunction.cpp
@@ -1079,7 +1079,8 @@
 
       // Figure out if we're derived from anything that is not a noalias
       // argument.
-      bool RequiresNoCaptureBefore = false, UsesAliasingPtr = false;
+      bool RequiresNoCaptureBefore = false, UsesAliasingPtr = false,
+           UsesUnknownObject = false;
       for (const Value *V : ObjSet) {
         // Is this value a constant that cannot be derived from any pointer
         // value (we need to exclude constant expressions, for example, that
@@ -1100,14 +1101,24 @@
           UsesAliasingPtr = true;
         }
 
-        // If this is not some identified function-local object (which cannot
-        // directly alias a noalias argument), or some other argument (which,
-        // by definition, also cannot alias a noalias argument), then we could
-        // alias a noalias argument that has been captured).
-        if (!isa<Argument>(V) && !isIdentifiedFunctionLocal(V))
+        if (isEscapeSource(V)) {
+          // An escape source can only alias with a noalias argument if it has
+          // been captured beforehand.
           RequiresNoCaptureBefore = true;
+        } else if (!isa<Argument>(V) && !isIdentifiedObject(V)) {
+          // If this is neither an escape source, nor some identified object
+          // (which cannot directly alias a noalias argument), nor some other
+          // argument (which, by definition, also cannot alias a noalias
+          // argument), conservatively do not make any assumptions.
+          UsesUnknownObject = true;
+        }
       }
 
+      // Nothing we can do if the used underlying object cannot be reliably
+      // determined.
+      if (UsesUnknownObject)
+        continue;
+
       // A function call can always get captured noalias pointers (via other
       // parameters, globals, etc.).
       if (IsFuncCall && !IsArgMemOnlyCall)
diff --git a/llvm/test/Transforms/Coroutines/coro-retcon-opaque-ptr.ll b/llvm/test/Transforms/Coroutines/coro-retcon-opaque-ptr.ll
--- a/llvm/test/Transforms/Coroutines/coro-retcon-opaque-ptr.ll
+++ b/llvm/test/Transforms/Coroutines/coro-retcon-opaque-ptr.ll
@@ -34,8 +34,8 @@
 ; CHECK-LABEL: @main(
 ; CHECK-NEXT:  entry:
 ; CHECK-NEXT:    call void @print(i32 4)
-; CHECK-NEXT:    call void @print(i32 5), !noalias !0
-; CHECK-NEXT:    call void @print(i32 6), !noalias !3
+; CHECK-NEXT:    call void @print(i32 5)
+; CHECK-NEXT:    call void @print(i32 6)
 ; CHECK-NEXT:    ret i32 0
 ;
 entry:
diff --git a/llvm/test/Transforms/Coroutines/coro-retcon-resume-values.ll b/llvm/test/Transforms/Coroutines/coro-retcon-resume-values.ll
--- a/llvm/test/Transforms/Coroutines/coro-retcon-resume-values.ll
+++ b/llvm/test/Transforms/Coroutines/coro-retcon-resume-values.ll
@@ -66,7 +66,7 @@
 ; CHECK-NEXT:    [[N_VAL3_RELOAD_ADDR11_I5:%.*]] = getelementptr inbounds [[F_FRAME]], %f.Frame* [[FRAMEPTR_I2]], i64 0, i32 1
 ; CHECK-NEXT:    [[N_VAL3_RELOAD12_I6:%.*]] = load i32, i32* [[N_VAL3_RELOAD_ADDR11_I5]], align 4, !noalias !6
 ; CHECK-NEXT:    [[SUM7_I7:%.*]] = add i32 [[N_VAL3_RELOAD12_I6]], [[INPUT_RELOAD14_I4]]
-; CHECK-NEXT:    call void @print(i32 [[SUM7_I7]]), !noalias !6
+; CHECK-NEXT:    call void @print(i32 [[SUM7_I7]])
 ; CHECK-NEXT:    [[TMP5:%.*]] = bitcast %f.Frame* [[FRAMEPTR_I2]] to i8*
 ; CHECK-NEXT:    call void @deallocate(i8* [[TMP5]]), !noalias !6
 ; CHECK-NEXT:    ret i32 0
diff --git a/llvm/test/Transforms/Coroutines/coro-retcon.ll b/llvm/test/Transforms/Coroutines/coro-retcon.ll
--- a/llvm/test/Transforms/Coroutines/coro-retcon.ll
+++ b/llvm/test/Transforms/Coroutines/coro-retcon.ll
@@ -36,8 +36,8 @@
 ; CHECK-LABEL: @main(
 ; CHECK-NEXT:  entry:
 ; CHECK-NEXT:    call void @print(i32 4)
-; CHECK-NEXT:    call void @print(i32 5), !noalias !0
-; CHECK-NEXT:    call void @print(i32 6), !noalias !3
+; CHECK-NEXT:    call void @print(i32 5)
+; CHECK-NEXT:    call void @print(i32 6)
 ; CHECK-NEXT:    ret i32 0
 ;
 entry:
diff --git a/llvm/test/Transforms/Inline/inline-noalias-unidentify-object.ll b/llvm/test/Transforms/Inline/inline-noalias-unidentify-object.ll
--- a/llvm/test/Transforms/Inline/inline-noalias-unidentify-object.ll
+++ b/llvm/test/Transforms/Inline/inline-noalias-unidentify-object.ll
@@ -14,7 +14,7 @@
 ; CHECK-NEXT:    [[P_6_I:%.*]] = getelementptr i8, ptr [[P_5_I]], i64 1
 ; CHECK-NEXT:    [[P_7_I:%.*]] = getelementptr i8, ptr [[P_6_I]], i64 1
 ; CHECK-NEXT:    [[P_8_ALIAS_I:%.*]] = getelementptr i8, ptr [[P_7_I]], i64 1
-; CHECK-NEXT:    store i32 42, ptr [[P_8_ALIAS_I]], align 4, !noalias !0
+; CHECK-NEXT:    store i32 42, ptr [[P_8_ALIAS_I]], align 4
 ; CHECK-NEXT:    ret i32 [[V_I]]
 ;
   %v = call i32 @callee(ptr %p)