diff --git a/llvm/lib/Analysis/ConstantFolding.cpp b/llvm/lib/Analysis/ConstantFolding.cpp
index 38fb50347c301..95ad90b8c765f 100644
--- a/llvm/lib/Analysis/ConstantFolding.cpp
+++ b/llvm/lib/Analysis/ConstantFolding.cpp
@@ -2360,7 +2360,7 @@ static Constant *ConstantFoldScalarCall1(StringRef Name,
 
       // Conversion is always precise.
       (void)status;
-      assert(status == APFloat::opOK && !lost &&
+      assert(status != APFloat::opInexact && !lost &&
              "Precision lost during fp16 constfolding");
 
       return ConstantFP::get(Ty->getContext(), Val);
diff --git a/llvm/test/Transforms/InstSimplify/ConstProp/convert-from-fp16.ll b/llvm/test/Transforms/InstSimplify/ConstProp/convert-from-fp16.ll
index 86924b945a4e5..2c1b5f0a6a4cb 100644
--- a/llvm/test/Transforms/InstSimplify/ConstProp/convert-from-fp16.ll
+++ b/llvm/test/Transforms/InstSimplify/ConstProp/convert-from-fp16.ll
@@ -1,93 +1,104 @@
+; NOTE: Assertions have been autogenerated by utils/update_test_checks.py
 ; RUN: opt -passes=instsimplify -S < %s | FileCheck %s
 
 ; Verify that we don't crash with an assertion failure when constant folding
 ; a call to intrinsic 'convert.from.fp16' if the return type is not 'float'.
 
 define float @fold_from_fp16_to_fp32() {
-; CHECK-LABEL: @fold_from_fp16_to_fp32
-; CHECK: ret float 0.000000e+00
-entry:
-  %0 = call float @llvm.convert.from.fp16.f32(i16 0)
-  ret float %0
+; CHECK-LABEL: @fold_from_fp16_to_fp32(
+; CHECK-NEXT:    ret float 0.000000e+00
+;
+  %r = call float @llvm.convert.from.fp16.f32(i16 0)
+  ret float %r
 }
 
 define double @fold_from_fp16_to_fp64() {
-; CHECK-LABEL: @fold_from_fp16_to_fp64
-; CHECK: ret double 0.000000e+00
-entry:
-  %0 = call double @llvm.convert.from.fp16.f64(i16 0)
-  ret double %0
+; CHECK-LABEL: @fold_from_fp16_to_fp64(
+; CHECK-NEXT:    ret double 0.000000e+00
+;
+  %r = call double @llvm.convert.from.fp16.f64(i16 0)
+  ret double %r
 }
 
 define x86_fp80 @fold_from_fp16_to_fp80() {
-; CHECK-LABEL: @fold_from_fp16_to_fp80
-; CHECK: ret x86_fp80 0xK00000000000000000000
-entry:
-  %0 = call x86_fp80 @llvm.convert.from.fp16.f80(i16 0)
-  ret x86_fp80 %0
+; CHECK-LABEL: @fold_from_fp16_to_fp80(
+; CHECK-NEXT:    ret x86_fp80 0xK00000000000000000000
+;
+  %r = call x86_fp80 @llvm.convert.from.fp16.f80(i16 0)
+  ret x86_fp80 %r
 }
 
 define fp128 @fold_from_fp16_to_fp128() {
-; CHECK-LABEL: @fold_from_fp16_to_fp128
-; CHECK: ret fp128 0xL00000000000000000000000000000000
-entry:
-  %0 = call fp128 @llvm.convert.from.fp16.f128(i16 0)
-  ret fp128 %0
+; CHECK-LABEL: @fold_from_fp16_to_fp128(
+; CHECK-NEXT:    ret fp128 0xL00000000000000000000000000000000
+;
+  %r = call fp128 @llvm.convert.from.fp16.f128(i16 0)
+  ret fp128 %r
 }
 
 define ppc_fp128 @fold_from_fp16_to_ppcfp128() {
-; CHECK-LABEL: @fold_from_fp16_to_ppcfp128
-; CHECK: ret ppc_fp128 0xM00000000000000000000000000000000
-entry:
-  %0 = call ppc_fp128 @llvm.convert.from.fp16.ppcf128(i16 0)
-  ret ppc_fp128 %0
+; CHECK-LABEL: @fold_from_fp16_to_ppcfp128(
+; CHECK-NEXT:    ret ppc_fp128 0xM00000000000000000000000000000000
+;
+  %r = call ppc_fp128 @llvm.convert.from.fp16.ppcf128(i16 0)
+  ret ppc_fp128 %r
 }
 
 define float @fold_from_fp16_to_fp32_b() {
-; CHECK-LABEL: @fold_from_fp16_to_fp32_b
-; CHECK: ret float 4.000000e+00
-entry:
-  %0 = call i16 @llvm.convert.to.fp16.f64(double 4.0)
-  %1 = call float @llvm.convert.from.fp16.f32(i16 %0)
-  ret float %1
+; CHECK-LABEL: @fold_from_fp16_to_fp32_b(
+; CHECK-NEXT:    ret float 4.000000e+00
+;
+  %a = call i16 @llvm.convert.to.fp16.f64(double 4.0)
+  %r = call float @llvm.convert.from.fp16.f32(i16 %a)
+  ret float %r
 }
 
 define double @fold_from_fp16_to_fp64_b() {
-; CHECK-LABEL: @fold_from_fp16_to_fp64_b
-; CHECK: ret double 4.000000e+00
-entry:
-  %0 = call i16 @llvm.convert.to.fp16.f64(double 4.0)
-  %1 = call double @llvm.convert.from.fp16.f64(i16 %0)
-  ret double %1
+; CHECK-LABEL: @fold_from_fp16_to_fp64_b(
+; CHECK-NEXT:    ret double 4.000000e+00
+;
+  %a = call i16 @llvm.convert.to.fp16.f64(double 4.0)
+  %r = call double @llvm.convert.from.fp16.f64(i16 %a)
+  ret double %r
 }
 
 define x86_fp80 @fold_from_fp16_to_fp80_b() {
-; CHECK-LABEL: @fold_from_fp16_to_fp80_b
-; CHECK: ret x86_fp80 0xK40018000000000000000
-entry:
-  %0 = call i16 @llvm.convert.to.fp16.f64(double 4.0)
-  %1 = call x86_fp80 @llvm.convert.from.fp16.f80(i16 %0)
-  ret x86_fp80 %1
+; CHECK-LABEL: @fold_from_fp16_to_fp80_b(
+; CHECK-NEXT:    ret x86_fp80 0xK40018000000000000000
+;
+  %a = call i16 @llvm.convert.to.fp16.f64(double 4.0)
+  %r = call x86_fp80 @llvm.convert.from.fp16.f80(i16 %a)
+  ret x86_fp80 %r
 }
 
 define fp128 @fold_from_fp16_to_fp128_b() {
-; CHECK-LABEL: @fold_from_fp16_to_fp128_b
-; CHECK: ret fp128 0xL00000000000000004001000000000000
-entry:
-  %0 = call i16 @llvm.convert.to.fp16.f64(double 4.0)
-  %1 = call fp128 @llvm.convert.from.fp16.f128(i16 %0)
-  ret fp128 %1
+; CHECK-LABEL: @fold_from_fp16_to_fp128_b(
+; CHECK-NEXT:    ret fp128 0xL00000000000000004001000000000000
+;
+  %a = call i16 @llvm.convert.to.fp16.f64(double 4.0)
+  %r = call fp128 @llvm.convert.from.fp16.f128(i16 %a)
+  ret fp128 %r
 }
 
 define ppc_fp128 @fold_from_fp16_to_ppcfp128_b() {
-; CHECK-LABEL: @fold_from_fp16_to_ppcfp128_b
-; CHECK: ret ppc_fp128 0xM40100000000000000000000000000000
-entry:
-  %0 = call i16 @llvm.convert.to.fp16.f64(double 4.0)
-  %1 = call ppc_fp128 @llvm.convert.from.fp16.ppcf128(i16 %0)
-  ret ppc_fp128 %1
+; CHECK-LABEL: @fold_from_fp16_to_ppcfp128_b(
+; CHECK-NEXT:    ret ppc_fp128 0xM40100000000000000000000000000000
+;
+  %a = call i16 @llvm.convert.to.fp16.f64(double 4.0)
+  %r = call ppc_fp128 @llvm.convert.from.fp16.ppcf128(i16 %a)
+  ret ppc_fp128 %r
 }
 
+; This would assert because converting SNAN causes an invalidOp status.
+; PR56981
+
+define float @convert_snan() {
+; CHECK-LABEL: @convert_snan(
+; CHECK-NEXT:    ret float 0x7FF8040000000000
+;
+  %r = call float @llvm.convert.from.fp16.f32(i16 31745) ; 0x7c01
+  ret float %r
+}
 
 declare i16 @llvm.convert.to.fp16.f64(double)
 declare float @llvm.convert.from.fp16.f32(i16)