diff --git a/lib/SILGen/SILGenConstructor.cpp b/lib/SILGen/SILGenConstructor.cpp
index 0b0afee837948..87fcaf8160e4f 100644
--- a/lib/SILGen/SILGenConstructor.cpp
+++ b/lib/SILGen/SILGenConstructor.cpp
@@ -15,6 +15,7 @@
 #include "ExecutorBreadcrumb.h"
 #include "Initialization.h"
 #include "LValue.h"
+#include "ManagedValue.h"
 #include "RValue.h"
 #include "SILGenFunction.h"
 #include "SILGenFunctionBuilder.h"
@@ -29,7 +30,9 @@
 #include "swift/Basic/Generators.h"
 #include "swift/SIL/SILArgument.h"
 #include "swift/SIL/SILInstruction.h"
+#include "swift/SIL/SILLocation.h"
 #include "swift/SIL/SILUndef.h"
+#include "swift/SIL/SILValue.h"
 #include "swift/SIL/TypeLowering.h"
 #include <map>
 
@@ -82,13 +85,14 @@ class LoweredParamsInContextGenerator {
 
 } // end anonymous namespace
 
-static ManagedValue emitManagedParameter(SILGenFunction &SGF,
-                                         SILValue value, bool isOwned) {
+static ManagedValue emitManagedParameter(SILGenFunction &SGF, SILValue value,
+                                         bool isOwned, SILLocation loc) {
   if (isOwned) {
     return SGF.emitManagedRValueWithCleanup(value);
-  } else {
-    return ManagedValue::forBorrowedRValue(value);
   }
+  if (value->getOwnershipKind() == OwnershipKind::Unowned)
+    return ManagedValue::forUnownedObjectValue(value).ensurePlusOne(SGF, loc);
+  return ManagedValue::forBorrowedRValue(value);
 }
 
 static SILValue emitConstructorMetatypeArg(SILGenFunction &SGF,
@@ -216,7 +220,8 @@ static RValue emitImplicitValueConstructorArg(SILGenFunction &SGF,
                                               [&](Initialization *eltInit) {
         auto eltAddr =
           SGF.B.createPackElementGet(loc, packIndex, arg, eltTy);
-        ManagedValue eltMV = emitManagedParameter(SGF, eltAddr, argIsConsumed);
+        ManagedValue eltMV =
+            emitManagedParameter(SGF, eltAddr, argIsConsumed, loc);
         eltMV = SGF.B.createLoadIfLoadable(loc, eltMV);
         eltInit->copyOrInitValueInto(SGF, loc, eltMV, argIsConsumed);
         eltInit->finishInitialization(SGF);
@@ -226,7 +231,7 @@ static RValue emitImplicitValueConstructorArg(SILGenFunction &SGF,
     return RValue::forInContext();
   }
 
-  ManagedValue mvArg = emitManagedParameter(SGF, arg, argIsConsumed);
+  ManagedValue mvArg = emitManagedParameter(SGF, arg, argIsConsumed, loc);
 
   // This can happen if the value is resilient in the calling convention
   // but not resilient locally.
diff --git a/test/Interop/Cxx/foreign-reference/Inputs/logging-frts.h b/test/Interop/Cxx/foreign-reference/Inputs/logging-frts.h
new file mode 100644
index 0000000000000..0b7c8b5c3019e
--- /dev/null
+++ b/test/Interop/Cxx/foreign-reference/Inputs/logging-frts.h
@@ -0,0 +1,43 @@
+#pragma once
+
+#include <stdio.h>
+#include <swift/bridging>
+
+class SharedFRT {
+public:
+  SharedFRT() : _refCount(1) { logMsg("Ctor"); }
+
+private:
+  void logMsg(const char *s) const {
+    printf("RefCount: %d, message: %s\n", _refCount, s);
+  }
+
+  ~SharedFRT() { logMsg("Dtor"); }
+  SharedFRT(const SharedFRT &) = delete;
+  SharedFRT &operator=(const SharedFRT &) = delete;
+  SharedFRT(SharedFRT &&) = delete;
+  SharedFRT &operator=(SharedFRT &&) = delete;
+
+  int _refCount;
+
+  friend void retainSharedFRT(SharedFRT *_Nonnull);
+  friend void releaseSharedFRT(SharedFRT *_Nonnull);
+} SWIFT_SHARED_REFERENCE(retainSharedFRT, releaseSharedFRT);
+
+class MyToken {
+public:
+  MyToken() = default;
+  MyToken(MyToken const &) {}
+};
+
+inline void retainSharedFRT(SharedFRT *_Nonnull x) {
+  ++x->_refCount;
+  x->logMsg("retain");
+}
+
+inline void releaseSharedFRT(SharedFRT *_Nonnull x) {
+  --x->_refCount;
+  x->logMsg("release");
+  if (x->_refCount == 0)
+    delete x;
+}
diff --git a/test/Interop/Cxx/foreign-reference/Inputs/module.modulemap b/test/Interop/Cxx/foreign-reference/Inputs/module.modulemap
index 8859a47557f77..23ce347297fa7 100644
--- a/test/Interop/Cxx/foreign-reference/Inputs/module.modulemap
+++ b/test/Interop/Cxx/foreign-reference/Inputs/module.modulemap
@@ -77,3 +77,8 @@ module VirtMethodWithRvalRef {
   header "virtual-methods-with-rvalue-reference.h"
   requires cplusplus
 }
+
+module LoggingFrts {
+    header "logging-frts.h"
+    requires cplusplus
+}
diff --git a/test/Interop/Cxx/foreign-reference/frts-as-fields.swift b/test/Interop/Cxx/foreign-reference/frts-as-fields.swift
new file mode 100644
index 0000000000000..7fcd7a4564ecf
--- /dev/null
+++ b/test/Interop/Cxx/foreign-reference/frts-as-fields.swift
@@ -0,0 +1,30 @@
+// RUN: %target-run-simple-swift(-I %swift_src_root/lib/ClangImporter/SwiftBridging -I %S/Inputs -cxx-interoperability-mode=default -Xfrontend -disable-availability-checking -Onone) | %FileCheck %s
+
+// REQUIRES: executable_test
+
+import LoggingFrts
+
+struct SwiftStruct {
+    var frt: SharedFRT
+    var token: MyToken
+}
+
+func go() {
+    let frt = SharedFRT()
+    let token = MyToken()
+    let _ = SwiftStruct(frt: frt, token: token)
+    let _ = SwiftStruct(frt: frt, token: token)
+    let _ = SwiftStruct(frt: frt, token: token)
+}
+
+go()
+
+// CHECK:      RefCount: 1, message: Ctor
+// CHECK-NEXT: RefCount: 2, message: retain
+// CHECK-NEXT: RefCount: 1, message: release
+// CHECK-NEXT: RefCount: 2, message: retain
+// CHECK-NEXT: RefCount: 1, message: release
+// CHECK-NEXT: RefCount: 2, message: retain
+// CHECK-NEXT: RefCount: 1, message: release
+// CHECK-NEXT: RefCount: 0, message: release
+// CHECK-NEXT: RefCount: 0, message: Dtor
\ No newline at end of file