diff --git a/lib/SILGen/SILGenConstructor.cpp b/lib/SILGen/SILGenConstructor.cpp
index 4c46c4193018d..ea11fa8a06cab 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/frts-as-fields.swift b/test/Interop/Cxx/foreign-reference/frts-as-fields.swift
index b9d2067b5be6c..6bb4609bcfbe2 100644
--- a/test/Interop/Cxx/foreign-reference/frts-as-fields.swift
+++ b/test/Interop/Cxx/foreign-reference/frts-as-fields.swift
@@ -4,6 +4,31 @@
 
 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
+
 func takesLargeStructWithRefCountedField(_ x: LargeStructWithRefCountedField) {
     var a = x
 }