diff --git a/llvm/lib/LTO/LTOCodeGenerator.cpp b/llvm/lib/LTO/LTOCodeGenerator.cpp
index 25ab1404b4e12a..aff1977850b888 100644
--- a/llvm/lib/LTO/LTOCodeGenerator.cpp
+++ b/llvm/lib/LTO/LTOCodeGenerator.cpp
@@ -466,8 +466,6 @@ void LTOCodeGenerator::applyScopeRestrictions() {
 
   internalizeModule(*MergedModule, mustPreserveGV);
 
-  MergedModule->addModuleFlag(Module::Error, "LTOPostLink", 1);
-
   ScopeRestrictionsDone = true;
 }
 
@@ -559,6 +557,9 @@ bool LTOCodeGenerator::optimize(bool DisableVerify, bool DisableInline,
   // Mark which symbols can not be internalized
   this->applyScopeRestrictions();
 
+  // Write LTOPostLink flag for passes that require all the modules.
+  MergedModule->addModuleFlag(Module::Error, "LTOPostLink", 1);
+
   // Instantiate the pass manager to organize the passes.
   legacy::PassManager passes;
 
diff --git a/llvm/test/LTO/ARM/lto-linking-metadata.ll b/llvm/test/LTO/ARM/lto-linking-metadata.ll
index ae6f42ff9be820..75b65ac85bed8f 100644
--- a/llvm/test/LTO/ARM/lto-linking-metadata.ll
+++ b/llvm/test/LTO/ARM/lto-linking-metadata.ll
@@ -1,7 +1,8 @@
 ; RUN: opt %s -o %t1.bc
 
-; RUN: llvm-lto %t1.bc -o %t1.save.opt -save-merged-module -O1 --exported-symbol=foo
+; RUN: llvm-lto %t1.bc -o %t1.save.opt -save-linked-module -save-merged-module -O1 --exported-symbol=foo
 ; RUN: llvm-dis < %t1.save.opt.merged.bc | FileCheck %s
+; RUN: llvm-dis < %t1.save.opt.linked.bc | FileCheck %s --check-prefix=CHECK-LINKED
 
 ; RUN: llvm-lto2 run %t1.bc -o %t.out.o -save-temps \
 ; RUN:     -r=%t1.bc,foo,pxl
@@ -17,3 +18,6 @@ entry:
 
 ; CHECK: !llvm.module.flags = !{[[MD_NUM:![0-9]+]]}
 ; CHECK: [[MD_NUM]] = !{i32 1, !"LTOPostLink", i32 1}
+
+; CHECK-LINKED: @foo
+; CHECK-LINKED-NOT: LTOPostLink
diff --git a/llvm/tools/llvm-lto/llvm-lto.cpp b/llvm/tools/llvm-lto/llvm-lto.cpp
index 0bd9078f2d8cae..d56cd30cca1716 100644
--- a/llvm/tools/llvm-lto/llvm-lto.cpp
+++ b/llvm/tools/llvm-lto/llvm-lto.cpp
@@ -181,6 +181,10 @@ static cl::opt<std::string> ThinLTOGeneratedObjectsDir(
     cl::desc("Save ThinLTO generated object files using filenames created in "
              "the given directory."));
 
+static cl::opt<bool> SaveLinkedModuleFile(
+    "save-linked-module", cl::init(false),
+    cl::desc("Write linked LTO module to file before optimize"));
+
 static cl::opt<bool>
     SaveModuleFile("save-merged-module", cl::init(false),
                    cl::desc("Write merged LTO module to file before CodeGen"));
@@ -1029,6 +1033,15 @@ int main(int argc, char **argv) {
     CodeGen.setFileType(FT.getValue());
 
   if (!OutputFilename.empty()) {
+    if (SaveLinkedModuleFile) {
+      std::string ModuleFilename = OutputFilename;
+      ModuleFilename += ".linked.bc";
+      std::string ErrMsg;
+
+      if (!CodeGen.writeMergedModules(ModuleFilename))
+        error("writing linked module failed.");
+    }
+
     if (!CodeGen.optimize(DisableVerify, DisableInline, DisableGVNLoadPRE,
                           DisableLTOVectorization)) {
       // Diagnostic messages should have been printed by the handler.