diff --git a/CHANGELOG.md b/CHANGELOG.md
index ad7df0d58f..d2910607d3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -10,6 +10,12 @@
 > - :house: [Internal]
 > - :nail_care: [Polish]
 
+# 10.1.0-rc.5
+
+#### :bug: Bug Fix
+
+- Prevent inlining of async functions in last stage of the compiler when the functions are not exported (not in interface file or shadowed) https://github.com/rescript-lang/rescript-compiler/pull/5790
+
 # 10.1.0-rc.4
 
 #### :rocket: New Feature
diff --git a/jscomp/core/js_pass_tailcall_inline.ml b/jscomp/core/js_pass_tailcall_inline.ml
index 18e195e854..3ae42a5081 100644
--- a/jscomp/core/js_pass_tailcall_inline.ml
+++ b/jscomp/core/js_pass_tailcall_inline.ml
@@ -165,7 +165,7 @@ let subst (export_set : Set_ident.t) stats =
                      Some
                        {
                          expression_desc =
-                           Fun {is_method=false; params; body; env};
+                           Fun {is_method=false; params; body; env; async=false};
                          comment = _;
                        };
                    (*TODO: don't inline method tail call yet,
diff --git a/jscomp/test/async_inline.js b/jscomp/test/async_inline.js
index 80db73efcd..f9b240b196 100644
--- a/jscomp/test/async_inline.js
+++ b/jscomp/test/async_inline.js
@@ -1,5 +1,6 @@
 'use strict';
 
+var Curry = require("../../lib/js/curry.js");
 
 async function willBeInlined(param) {
   return 3;
@@ -14,7 +15,25 @@ function wrapSomethingAsync(param) {
         })(777));
 }
 
+async function doSomethingAsync(someAsyncFunction) {
+  return await Curry._1(someAsyncFunction, undefined);
+}
+
+var broken = doSomethingAsync;
+
+var M = {
+  broken: broken
+};
+
+async function broken$1(someAsyncFunction) {
+  return await Curry._1(someAsyncFunction, undefined);
+}
+
+var broken$2 = broken$1;
+
 exports.willBeInlined = willBeInlined;
 exports.inlined = inlined;
 exports.wrapSomethingAsync = wrapSomethingAsync;
+exports.M = M;
+exports.broken = broken$2;
 /* inlined Not a pure module */
diff --git a/jscomp/test/async_inline.res b/jscomp/test/async_inline.res
index 7ea557bbc1..f8dd74a9a2 100644
--- a/jscomp/test/async_inline.res
+++ b/jscomp/test/async_inline.res
@@ -9,4 +9,20 @@ let wrapSomethingAsync: unit => unit = () => {
       Js.log(test)
     }
   )(777)
-}
\ No newline at end of file
+}
+
+module M: {
+  let broken: (unit => promise<'a>) => promise<'a>
+} = {
+  let doSomethingAsync = async (someAsyncFunction) => {
+    await someAsyncFunction()
+  }
+
+  let broken = someAsyncFunction => doSomethingAsync(someAsyncFunction)
+}
+
+let broken = async (someAsyncFunction) => {
+  await someAsyncFunction()
+}
+
+let broken = someAsyncFunction => broken(someAsyncFunction)
diff --git a/lib/4.06.1/unstable/js_compiler.ml b/lib/4.06.1/unstable/js_compiler.ml
index 9636106280..6e32c4a408 100644
--- a/lib/4.06.1/unstable/js_compiler.ml
+++ b/lib/4.06.1/unstable/js_compiler.ml
@@ -92734,7 +92734,7 @@ let subst (export_set : Set_ident.t) stats =
                      Some
                        {
                          expression_desc =
-                           Fun {is_method=false; params; body; env};
+                           Fun {is_method=false; params; body; env; async=false};
                          comment = _;
                        };
                    (*TODO: don't inline method tail call yet,
diff --git a/lib/4.06.1/unstable/js_playground_compiler.ml b/lib/4.06.1/unstable/js_playground_compiler.ml
index 8c7f88d1f0..2abc2f8e13 100644
--- a/lib/4.06.1/unstable/js_playground_compiler.ml
+++ b/lib/4.06.1/unstable/js_playground_compiler.ml
@@ -92734,7 +92734,7 @@ let subst (export_set : Set_ident.t) stats =
                      Some
                        {
                          expression_desc =
-                           Fun {is_method=false; params; body; env};
+                           Fun {is_method=false; params; body; env; async=false};
                          comment = _;
                        };
                    (*TODO: don't inline method tail call yet,
diff --git a/lib/4.06.1/whole_compiler.ml b/lib/4.06.1/whole_compiler.ml
index e64235a10d..b27d032d90 100644
--- a/lib/4.06.1/whole_compiler.ml
+++ b/lib/4.06.1/whole_compiler.ml
@@ -262095,7 +262095,7 @@ let subst (export_set : Set_ident.t) stats =
                      Some
                        {
                          expression_desc =
-                           Fun {is_method=false; params; body; env};
+                           Fun {is_method=false; params; body; env; async=false};
                          comment = _;
                        };
                    (*TODO: don't inline method tail call yet,