diff --git a/llvm/include/llvm/Transforms/IPO/FunctionAttrs.h b/llvm/include/llvm/Transforms/IPO/FunctionAttrs.h
--- a/llvm/include/llvm/Transforms/IPO/FunctionAttrs.h
+++ b/llvm/include/llvm/Transforms/IPO/FunctionAttrs.h
@@ -48,8 +48,13 @@
 /// attribute. It also discovers function arguments that are not captured by
 /// the function and marks them with the nocapture attribute.
 struct PostOrderFunctionAttrsPass : PassInfoMixin<PostOrderFunctionAttrsPass> {
+  PostOrderFunctionAttrsPass(bool SkipNonRecursive = false)
+      : SkipNonRecursive(SkipNonRecursive) {}
   PreservedAnalyses run(LazyCallGraph::SCC &C, CGSCCAnalysisManager &AM,
                         LazyCallGraph &CG, CGSCCUpdateResult &UR);
+
+private:
+  bool SkipNonRecursive;
 };
 
 /// A pass to do RPO deduction and propagation of function attributes.
diff --git a/llvm/lib/Analysis/CGSCCPassManager.cpp b/llvm/lib/Analysis/CGSCCPassManager.cpp
--- a/llvm/lib/Analysis/CGSCCPassManager.cpp
+++ b/llvm/lib/Analysis/CGSCCPassManager.cpp
@@ -545,8 +545,6 @@
     // function's analyses (that's the contract of a function pass), so
     // directly handle the function analysis manager's invalidation here.
     FAM.invalidate(F, EagerlyInvalidate ? PreservedAnalyses::none() : PassPA);
-    if (NoRerun)
-      (void)FAM.getResult<ShouldNotRunFunctionPassesAnalysis>(F);
 
     // Then intersect the preserved set so that invalidation of module
     // analyses will eventually occur when the module pass completes.
diff --git a/llvm/lib/Passes/PassBuilderPipelines.cpp b/llvm/lib/Passes/PassBuilderPipelines.cpp
--- a/llvm/lib/Passes/PassBuilderPipelines.cpp
+++ b/llvm/lib/Passes/PassBuilderPipelines.cpp
@@ -831,8 +831,11 @@
   if (AttributorRun & AttributorRunOption::CGSCC)
     MainCGPipeline.addPass(AttributorCGSCCPass());
 
-  // Now deduce any function attributes based in the current code.
-  MainCGPipeline.addPass(PostOrderFunctionAttrsPass());
+  // Deduce function attributes. We do another run of this after the function
+  // simplification pipeline, so this only needs to run when it could affect the
+  // function simplification pipeline, which is only the case with recursive
+  // functions.
+  MainCGPipeline.addPass(PostOrderFunctionAttrsPass(/*SkipNonRecursive*/ true));
 
   // When at O3 add argument promotion to the pass pipeline.
   // FIXME: It isn't at all clear why this should be limited to O3.
@@ -847,14 +850,24 @@
   for (auto &C : CGSCCOptimizerLateEPCallbacks)
     C(MainCGPipeline, Level);
 
-  // Lastly, add the core function simplification pipeline nested inside the
+  // Add the core function simplification pipeline nested inside the
   // CGSCC walk.
   MainCGPipeline.addPass(createCGSCCToFunctionPassAdaptor(
       buildFunctionSimplificationPipeline(Level, Phase),
       PTO.EagerlyInvalidateAnalyses, /*NoRerun=*/true));
 
+  // Finally, deduce any function attributes based on the fully simplified function.
+  MainCGPipeline.addPass(PostOrderFunctionAttrsPass());
+
+  // Mark that the function is fully simplified and that it shouldn't be
+  // simplified again if we somehow revisit it due to CGSCC mutations unless
+  // it's been modified since.
+  MainCGPipeline.addPass(createCGSCCToFunctionPassAdaptor(
+      RequireAnalysisPass<ShouldNotRunFunctionPassesAnalysis, Function>()));
+
   MainCGPipeline.addPass(CoroSplitPass(Level != OptimizationLevel::O0));
 
+  // Make sure we don't affect potential future NoRerun CGSCC adaptors.
   MIWP.addLateModulePass(createModuleToFunctionPassAdaptor(
       InvalidateAnalysisPass<ShouldNotRunFunctionPassesAnalysis>()));
 
diff --git a/llvm/lib/Transforms/IPO/FunctionAttrs.cpp b/llvm/lib/Transforms/IPO/FunctionAttrs.cpp
--- a/llvm/lib/Transforms/IPO/FunctionAttrs.cpp
+++ b/llvm/lib/Transforms/IPO/FunctionAttrs.cpp
@@ -1763,6 +1763,13 @@
                                                   CGSCCAnalysisManager &AM,
                                                   LazyCallGraph &CG,
                                                   CGSCCUpdateResult &) {
+  // Skip non-recursive functions if requested.
+  if (C.size() == 1 && SkipNonRecursive) {
+    LazyCallGraph::Node &N = *C.begin();
+    if (!N->lookup(N))
+      return PreservedAnalyses::all();
+  }
+
   FunctionAnalysisManager &FAM =
       AM.getResult<FunctionAnalysisManagerCGSCCProxy>(C, CG).getManager();
 
diff --git a/llvm/test/Transforms/InstCombine/unused-nonnull.ll b/llvm/test/Transforms/InstCombine/unused-nonnull.ll
--- a/llvm/test/Transforms/InstCombine/unused-nonnull.ll
+++ b/llvm/test/Transforms/InstCombine/unused-nonnull.ll
@@ -9,7 +9,7 @@
 
 define i32 @main(i32 %argc, ptr %argv) #0 {
 ; CHECK-LABEL: define {{[^@]+}}@main
-; CHECK-SAME: (i32 [[ARGC:%.*]], ptr nocapture readonly [[ARGV:%.*]]) local_unnamed_addr #[[ATTR0:[0-9]+]] {
+; CHECK-SAME: (i32 [[ARGC:%.*]], ptr nocapture readnone [[ARGV:%.*]]) local_unnamed_addr #[[ATTR0:[0-9]+]] {
 ; CHECK-NEXT:  entry:
 ; CHECK-NEXT:    [[TMP0:%.*]] = icmp slt i32 [[ARGC]], 2
 ; CHECK-NEXT:    [[SPEC_SELECT:%.*]] = select i1 [[TMP0]], i32 0, i32 [[ARGC]]