diff --git a/base/compiler/optimize.jl b/base/compiler/optimize.jl
index c4f8874eab06f..f232094da3aff 100644
--- a/base/compiler/optimize.jl
+++ b/base/compiler/optimize.jl
@@ -572,7 +572,13 @@ function ipo_dataflow_analysis!(interp::AbstractInterpreter, ir::IRCode, result:
 
     function scan_non_dataflow_flags!(inst::Instruction)
         flag = inst[:flag]
-        all_effect_free &= (flag & IR_FLAG_EFFECT_FREE) != 0
+        istmt = inst[:stmt]
+        if !isterminator(istmt) && istmt !== nothing
+            # ignore control flow node – they are not removable on their own and thus not
+            # have `IR_FLAG_EFFECT_FREE` but still do not taint `:effect_free`-ness of
+            # the whole method invocation
+            all_effect_free &= (flag & IR_FLAG_EFFECT_FREE) != 0
+        end
         all_nothrow &= (flag & IR_FLAG_NOTHROW) != 0
         if (flag & IR_FLAG_NOUB) == 0
             if !is_conditional_noub(inst)
@@ -628,7 +634,7 @@ function ipo_dataflow_analysis!(interp::AbstractInterpreter, ir::IRCode, result:
                 # If we do not know this function terminates, taint consistency, now,
                 # :consistent requires consistent termination. TODO: Just look at the
                 # inconsistent region.
-                if !effects.terminates
+                if !result.ipo_effects.terminates
                     all_retpaths_consistent = false
                     # Check if there are potential throws that require
                 elseif conditional_successors_may_throw(lazypostdomtree, ir, bb)
@@ -652,7 +658,13 @@ function ipo_dataflow_analysis!(interp::AbstractInterpreter, ir::IRCode, result:
 
         return true
     end
-    if !scan!(scan_stmt!, scanner, true)
+
+    completed_scan = scan!(scan_stmt!, scanner, true)
+
+    effects = result.ipo_effects
+    if completed_scan
+        had_trycatch && return effects
+    else
         if !all_retpaths_consistent
             # No longer any dataflow concerns, just scan the flags
             scan!(scanner, false) do inst::Instruction, idx::Int, lstmt::Int, bb::Int
@@ -707,20 +719,11 @@ function ipo_dataflow_analysis!(interp::AbstractInterpreter, ir::IRCode, result:
         end
     end
 
-    had_trycatch && return
-    if all_effect_free
-        effects = Effects(effects; effect_free = true)
-    end
-    if all_nothrow
-        effects = Effects(effects; nothrow = true)
-    end
-    if all_retpaths_consistent
-        effects = Effects(effects; consistent = ALWAYS_TRUE)
-    end
-    if all_noub
-        effects = Effects(effects; noub = any_conditional_ub ? NOUB_IF_NOINBOUNDS : ALWAYS_TRUE)
-    end
-    result.ipo_effects = effects
+    return result.ipo_effects = Effects(effects;
+        consistent = all_retpaths_consistent ? ALWAYS_TRUE : effects.consistent,
+        effect_free = all_effect_free ? ALWAYS_TRUE : effects.effect_free,
+        nothrow = all_nothrow ? true : effects.nothrow,
+        noub = all_noub ? (any_conditional_ub ? NOUB_IF_NOINBOUNDS : ALWAYS_TRUE) : effects.noub)
 end
 
 # run the optimization work
diff --git a/test/compiler/effects.jl b/test/compiler/effects.jl
index ea9bc24343715..17b34401405bb 100644
--- a/test/compiler/effects.jl
+++ b/test/compiler/effects.jl
@@ -1078,3 +1078,19 @@ GLOBAL_MUTABLE_SWITCH[] = true
 @test (Base.return_types(check_switch2) |> only) === Nothing
 
 @test !Core.Compiler.is_consistent(Base.infer_effects(check_switch, (Base.RefValue{Bool},)))
+
+# post-opt IPO analysis refinement of `:effect_free`-ness
+function post_opt_refine_effect_free(y, c=true)
+    x = Ref(c)
+    if x[]
+        return true
+    else
+        r = y[] isa Number
+        y[] = nothing
+    end
+    return r
+end
+@test Core.Compiler.is_effect_free(Base.infer_effects(post_opt_refine_effect_free, (Base.RefValue{Any},)))
+@test Base.infer_effects((Base.RefValue{Any},)) do y
+    post_opt_refine_effect_free(y, true)
+end |> Core.Compiler.is_effect_free