diff --git a/clang/lib/AST/Decl.cpp b/clang/lib/AST/Decl.cpp
index e0362245d6ecd..8855d0107daca 100644
--- a/clang/lib/AST/Decl.cpp
+++ b/clang/lib/AST/Decl.cpp
@@ -2450,7 +2450,8 @@ bool VarDecl::hasInitWithSideEffects() const {
     ES->HasSideEffects =
         E->HasSideEffects(getASTContext()) &&
         // We can get a value-dependent initializer during error recovery.
-        (E->isValueDependent() || !evaluateValue());
+        (E->isValueDependent() || getType()->isDependentType() ||
+         !evaluateValue());
     ES->CheckedForSideEffects = true;
   }
   return ES->HasSideEffects;
diff --git a/clang/test/Modules/var-init-side-effects-templated.cpp b/clang/test/Modules/var-init-side-effects-templated.cpp
new file mode 100644
index 0000000000000..542ca270429b6
--- /dev/null
+++ b/clang/test/Modules/var-init-side-effects-templated.cpp
@@ -0,0 +1,20 @@
+// Tests referencing variable with initializer containing side effect across module boundary
+
+// RUN: %clang_cc1 -std=c++20 -emit-module-interface %s -o %t
+
+export module Foo;
+
+export template <class Float>
+struct Wrapper {
+  double value;
+};
+
+export constexpr Wrapper<double> Compute() {
+  return Wrapper<double>{1.0};
+}
+
+export template <typename Float>
+Wrapper<Float> ComputeInFloat() {
+  const Wrapper<Float> a = Compute();
+  return a;
+}