diff --git a/src/lj_asm.c b/src/lj_asm.c
index b0e6d313..1ecbe45e 100644
--- a/src/lj_asm.c
+++ b/src/lj_asm.c
@@ -2550,7 +2550,9 @@ void lj_asm_trace(jit_State *J, GCtrace *T)
   /* Set trace entry point before fixing up tail to allow link to self. */
   T->mcode = as->mcp;
   T->mcloop = as->mcloop ? (MSize)((char *)as->mcloop - (char *)as->mcp) : 0;
-  if (!as->loopref)
+  if (as->loopref)
+    asm_loop_tail_fixup(as);
+  else
     asm_tail_fixup(as, T->link);  /* Note: this may change as->mctop! */
   T->szmcode = (MSize)((char *)as->mctop - (char *)as->mcp);
   asm_snap_fixup_mcofs(as);
diff --git a/src/lj_asm_arm.h b/src/lj_asm_arm.h
index 96703d7d..6cfe5c70 100644
--- a/src/lj_asm_arm.h
+++ b/src/lj_asm_arm.h
@@ -2129,6 +2129,12 @@ static void asm_loop_fixup(ASMState *as)
   }
 }
 
+/* Fixup the tail of the loop. */
+static void asm_loop_tail_fixup(ASMState *as)
+{
+  UNUSED(as);  /* Nothing to do. */
+}
+
 /* -- Head of trace ------------------------------------------------------- */
 
 /* Reload L register from g->cur_L. */
diff --git a/src/lj_asm_arm64.h b/src/lj_asm_arm64.h
index dde52347..bb972ad1 100644
--- a/src/lj_asm_arm64.h
+++ b/src/lj_asm_arm64.h
@@ -1858,6 +1858,12 @@ static void asm_loop_fixup(ASMState *as)
   }
 }
 
+/* Fixup the tail of the loop. */
+static void asm_loop_tail_fixup(ASMState *as)
+{
+  UNUSED(as);  /* Nothing to do. */
+}
+
 /* -- Head of trace ------------------------------------------------------- */
 
 /* Reload L register from g->cur_L. */
diff --git a/src/lj_asm_mips.h b/src/lj_asm_mips.h
index 22aa88bf..1fe934e1 100644
--- a/src/lj_asm_mips.h
+++ b/src/lj_asm_mips.h
@@ -2640,6 +2640,12 @@ static void asm_loop_fixup(ASMState *as)
   }
 }
 
+/* Fixup the tail of the loop. */
+static void asm_loop_tail_fixup(ASMState *as)
+{
+  if (as->loopinv) as->mctop--;
+}
+
 /* -- Head of trace ------------------------------------------------------- */
 
 /* Coalesce BASE register for a root trace. */
@@ -2647,7 +2653,6 @@ static void asm_head_root_base(ASMState *as)
 {
   IRIns *ir = IR(REF_BASE);
   Reg r = ir->r;
-  if (as->loopinv) as->mctop--;
   if (ra_hasreg(r)) {
     ra_free(as, r);
     if (rset_test(as->modset, r) || irt_ismarked(ir->t))
@@ -2662,7 +2667,6 @@ static RegSet asm_head_side_base(ASMState *as, IRIns *irp, RegSet allow)
 {
   IRIns *ir = IR(REF_BASE);
   Reg r = ir->r;
-  if (as->loopinv) as->mctop--;
   if (ra_hasreg(r)) {
     ra_free(as, r);
     if (rset_test(as->modset, r) || irt_ismarked(ir->t))
diff --git a/src/lj_asm_ppc.h b/src/lj_asm_ppc.h
index c27ee71c..f5cedd6a 100644
--- a/src/lj_asm_ppc.h
+++ b/src/lj_asm_ppc.h
@@ -2157,6 +2157,12 @@ static void asm_loop_fixup(ASMState *as)
   }
 }
 
+/* Fixup the tail of the loop. */
+static void asm_loop_tail_fixup(ASMState *as)
+{
+  UNUSED(as);  /* Nothing to do. */
+}
+
 /* -- Head of trace ------------------------------------------------------- */
 
 /* Coalesce BASE register for a root trace. */
diff --git a/src/lj_asm_x86.h b/src/lj_asm_x86.h
index c8ed46d2..3c934c31 100644
--- a/src/lj_asm_x86.h
+++ b/src/lj_asm_x86.h
@@ -2863,6 +2863,12 @@ static void asm_loop_fixup(ASMState *as)
   }
 }
 
+/* Fixup the tail of the loop. */
+static void asm_loop_tail_fixup(ASMState *as)
+{
+  UNUSED(as);  /* Nothing to do. */
+}
+
 /* -- Head of trace ------------------------------------------------------- */
 
 /* Coalesce BASE register for a root trace. */