diff --git a/src/ast/ast.h b/src/ast/ast.h
index c44129b7b2..3872819f8e 100644
--- a/src/ast/ast.h
+++ b/src/ast/ast.h
@@ -2238,8 +2238,10 @@ class FunctionLiteral final : public Expression {
     return function_type() == kAnonymousExpression;
   }
 
-  void mark_as_iife() { bit_field_ = IIFEBit::update(bit_field_, true); }
-  bool is_iife() const { return IIFEBit::decode(bit_field_); }
+  void mark_as_oneshot_iife() {
+    bit_field_ = OneshotIIFEBit::update(bit_field_, true);
+  }
+  bool is_oneshot_iife() const { return OneshotIIFEBit::decode(bit_field_); }
   bool is_toplevel() const {
     return function_literal_id() == FunctionLiteral::kIdTypeTopLevel;
   }
@@ -2370,13 +2372,13 @@ class FunctionLiteral final : public Expression {
         body_(0, nullptr),
         raw_inferred_name_(ast_value_factory->empty_cons_string()),
         produced_preparse_data_(produced_preparse_data) {
-    bit_field_ |= FunctionTypeBits::encode(function_type) |
-                  Pretenure::encode(false) |
-                  HasDuplicateParameters::encode(has_duplicate_parameters ==
-                                                 kHasDuplicateParameters) |
-                  DontOptimizeReasonField::encode(BailoutReason::kNoReason) |
-                  RequiresInstanceMembersInitializer::encode(false) |
-                  HasBracesField::encode(has_braces) | IIFEBit::encode(false);
+    bit_field_ |=
+        FunctionTypeBits::encode(function_type) | Pretenure::encode(false) |
+        HasDuplicateParameters::encode(has_duplicate_parameters ==
+                                       kHasDuplicateParameters) |
+        DontOptimizeReasonField::encode(BailoutReason::kNoReason) |
+        RequiresInstanceMembersInitializer::encode(false) |
+        HasBracesField::encode(has_braces) | OneshotIIFEBit::encode(false);
     if (eager_compile_hint == kShouldEagerCompile) SetShouldEagerCompile();
     body.CopyTo(&body_, zone);
   }
@@ -2391,7 +2393,7 @@ class FunctionLiteral final : public Expression {
       : public BitField<bool, DontOptimizeReasonField::kNext, 1> {};
   class HasBracesField
       : public BitField<bool, RequiresInstanceMembersInitializer::kNext, 1> {};
-  class IIFEBit : public BitField<bool, HasBracesField::kNext, 1> {};
+  class OneshotIIFEBit : public BitField<bool, HasBracesField::kNext, 1> {};
 
   int expected_property_count_;
   int parameter_count_;
diff --git a/src/compiler.cc b/src/compiler.cc
index 3f333d2429..6e2f9d3590 100644
--- a/src/compiler.cc
+++ b/src/compiler.cc
@@ -406,7 +406,7 @@ void SetSharedFunctionFlagsFromLiteral(FunctionLiteral* literal,
   }
   shared_info->set_has_duplicate_parameters(
       literal->has_duplicate_parameters());
-  shared_info->set_is_iife(literal->is_iife());
+  shared_info->set_is_oneshot_iife(literal->is_oneshot_iife());
   shared_info->SetExpectedNofPropertiesFromEstimate(literal);
   if (literal->dont_optimize_reason() != BailoutReason::kNoReason) {
     shared_info->DisableOptimization(literal->dont_optimize_reason());
diff --git a/src/interpreter/bytecode-generator.cc b/src/interpreter/bytecode-generator.cc
index f6d97d0e66..0115ba80db 100644
--- a/src/interpreter/bytecode-generator.cc
+++ b/src/interpreter/bytecode-generator.cc
@@ -1907,11 +1907,8 @@ bool BytecodeGenerator::ShouldOptimizeAsOneShot() const {
 
   if (loop_depth_ > 0) return false;
 
-  // A non-top-level iife is likely to be executed multiple times and so
-  // shouldn`t be optimized as one-shot.
-  bool is_toplevel_iife = info()->literal()->is_iife() &&
-                          current_scope()->outer_scope()->is_script_scope();
-  return info()->literal()->is_toplevel() || is_toplevel_iife;
+  return info()->literal()->is_toplevel() ||
+         info()->literal()->is_oneshot_iife();
 }
 
 void BytecodeGenerator::BuildClassLiteral(ClassLiteral* expr, Register name) {
diff --git a/src/objects/shared-function-info-inl.h b/src/objects/shared-function-info-inl.h
index c57920aa65..5484441030 100644
--- a/src/objects/shared-function-info-inl.h
+++ b/src/objects/shared-function-info-inl.h
@@ -222,8 +222,8 @@ BIT_FIELD_ACCESSORS(SharedFunctionInfo, flags, is_named_expression,
                     SharedFunctionInfo::IsNamedExpressionBit)
 BIT_FIELD_ACCESSORS(SharedFunctionInfo, flags, is_toplevel,
                     SharedFunctionInfo::IsTopLevelBit)
-BIT_FIELD_ACCESSORS(SharedFunctionInfo, flags, is_iife,
-                    SharedFunctionInfo::IsIIFEBit)
+BIT_FIELD_ACCESSORS(SharedFunctionInfo, flags, is_oneshot_iife,
+                    SharedFunctionInfo::IsOneshotIIFEBit)
 
 bool SharedFunctionInfo::optimization_disabled() const {
   return disable_optimization_reason() != BailoutReason::kNoReason;
diff --git a/src/objects/shared-function-info.h b/src/objects/shared-function-info.h
index 583edd8285..baaacd538c 100644
--- a/src/objects/shared-function-info.h
+++ b/src/objects/shared-function-info.h
@@ -489,8 +489,9 @@ class SharedFunctionInfo : public HeapObject {
   DECL_BOOLEAN_ACCESSORS(is_anonymous_expression)
 
   // Indicates that the function represented by the shared function info was
-  // classed as an immediately invoked function execution (IIFE) function.
-  DECL_BOOLEAN_ACCESSORS(is_iife)
+  // classed as an immediately invoked function execution (IIFE) function and
+  // is only executed once.
+  DECL_BOOLEAN_ACCESSORS(is_oneshot_iife)
 
   // Indicates that the function has been reported for binary code coverage.
   DECL_BOOLEAN_ACCESSORS(has_reported_binary_coverage)
@@ -700,7 +701,7 @@ class SharedFunctionInfo : public HeapObject {
   V(HasReportedBinaryCoverageBit, bool, 1, _)            \
   V(IsNamedExpressionBit, bool, 1, _)                    \
   V(IsTopLevelBit, bool, 1, _)                           \
-  V(IsIIFEBit, bool, 1, _)
+  V(IsOneshotIIFEBit, bool, 1, _)
   DEFINE_BIT_FIELDS(FLAGS_BIT_FIELDS)
 #undef FLAGS_BIT_FIELDS
 
diff --git a/src/parsing/parse-info.cc b/src/parsing/parse-info.cc
index 5e7ce6a8bf..3050e01b48 100644
--- a/src/parsing/parse-info.cc
+++ b/src/parsing/parse-info.cc
@@ -80,7 +80,7 @@ void ParseInfo::SetFunctionInfo(T function) {
   set_requires_instance_members_initializer(
       function->requires_instance_members_initializer());
   set_toplevel(function->is_toplevel());
-  set_is_iife(function->is_iife());
+  set_is_oneshot_iife(function->is_oneshot_iife());
   set_wrapped_as_function(function->is_wrapped());
 }
 
diff --git a/src/parsing/parse-info.h b/src/parsing/parse-info.h
index 8b2d66dc60..7ab236c82d 100644
--- a/src/parsing/parse-info.h
+++ b/src/parsing/parse-info.h
@@ -114,7 +114,7 @@ class V8_EXPORT_PRIVATE ParseInfo {
                 set_allow_harmony_private_fields);
   FLAG_ACCESSOR(kAllowHarmonyPrivateMethods, allow_harmony_private_methods,
                 set_allow_harmony_private_methods);
-  FLAG_ACCESSOR(kIsIIFE, is_iife, set_is_iife);
+  FLAG_ACCESSOR(kIsOneshotIIFE, is_oneshot_iife, set_is_oneshot_iife);
 #undef FLAG_ACCESSOR
 
   void set_parse_restriction(ParseRestriction restriction) {
@@ -311,7 +311,7 @@ class V8_EXPORT_PRIVATE ParseInfo {
     kAllowHarmonyNumericSeparator = 1 << 26,
     kAllowHarmonyPrivateFields = 1 << 27,
     kAllowHarmonyPrivateMethods = 1 << 28,
-    kIsIIFE = 1 << 29
+    kIsOneshotIIFE = 1 << 29
   };
 
   //------------- Inputs to parsing and scope analysis -----------------------
diff --git a/src/parsing/parser-base.h b/src/parsing/parser-base.h
index e6d639cd1d..b8039d0ec9 100644
--- a/src/parsing/parser-base.h
+++ b/src/parsing/parser-base.h
@@ -3061,7 +3061,11 @@ ParserBase<Impl>::ParseLeftHandSideContinuation(ExpressionT result) {
           // function literal eagerly, we can also compile it eagerly.
           if (result->IsFunctionLiteral()) {
             result->AsFunctionLiteral()->SetShouldEagerCompile();
-            result->AsFunctionLiteral()->mark_as_iife();
+            if (scope()->is_script_scope()) {
+              // A non-top-level iife is likely to be executed multiple times
+              // and so shouldn`t be optimized as one-shot.
+              result->AsFunctionLiteral()->mark_as_oneshot_iife();
+            }
           }
         }
         bool has_spread;
diff --git a/src/parsing/parser.cc b/src/parsing/parser.cc
index 0a3033c531..ba244ad298 100644
--- a/src/parsing/parser.cc
+++ b/src/parsing/parser.cc
@@ -859,8 +859,8 @@ FunctionLiteral* Parser::DoParseFunction(Isolate* isolate, ParseInfo* info,
     if (has_error()) return nullptr;
     result->set_requires_instance_members_initializer(
         info->requires_instance_members_initializer());
-    if (info->is_iife()) {
-      result->mark_as_iife();
+    if (info->is_oneshot_iife()) {
+      result->mark_as_oneshot_iife();
     }
   }
 
diff --git a/src/parsing/preparser.h b/src/parsing/preparser.h
index d3de3a4edb..aa218c7ee3 100644
--- a/src/parsing/preparser.h
+++ b/src/parsing/preparser.h
@@ -310,7 +310,7 @@ class PreParserExpression {
 
   // More dummy implementations of things PreParser doesn't need to track:
   void SetShouldEagerCompile() {}
-  void mark_as_iife() {}
+  void mark_as_oneshot_iife() {}
 
   int position() const { return kNoSourcePosition; }
   void set_function_token_position(int position) {}
diff --git a/test/cctest/interpreter/bytecode_expectations/IIFEWithOneshotOpt.golden b/test/cctest/interpreter/bytecode_expectations/IIFEWithOneshotOpt.golden
index 124711e73c..9bffe3bf79 100644
--- a/test/cctest/interpreter/bytecode_expectations/IIFEWithOneshotOpt.golden
+++ b/test/cctest/interpreter/bytecode_expectations/IIFEWithOneshotOpt.golden
@@ -565,9 +565,9 @@ snippet: "
         }
   
 "
-frame size: 3
+frame size: 2
 parameter count: 1
-bytecode array length: 46
+bytecode array length: 43
 bytecodes: [
                 B(CreateMappedArguments),
                 B(Star), R(0),
@@ -577,17 +577,15 @@ bytecodes: [
   /*  111 S> */ B(LdaGlobal), U8(0), U8(2),
                 B(Star), R(1),
                 B(LdaSmi), I8(3),
-  /*  115 E> */ B(StaNamedPropertyNoFeedback), R(1), U8(1), U8(0),
+  /*  115 E> */ B(StaNamedProperty), R(1), U8(1), U8(4),
   /*  130 S> */ B(LdaGlobal), U8(0), U8(2),
                 B(Star), R(1),
                 B(LdaSmi), I8(4),
-  /*  134 E> */ B(StaNamedPropertyNoFeedback), R(1), U8(2), U8(0),
-  /*  149 S> */ B(LdaUndefined),
-                B(Star), R(2),
-                B(LdaGlobal), U8(3), U8(4),
+  /*  134 E> */ B(StaNamedProperty), R(1), U8(2), U8(6),
+  /*  149 S> */ B(LdaGlobal), U8(3), U8(8),
                 B(Star), R(1),
-  /*  149 E> */ B(CallNoFeedback), R(1), R(2), U8(1),
-  /*  182 S> */ B(LdaNamedPropertyNoFeedback), R(0), U8(4),
+  /*  149 E> */ B(CallUndefinedReceiver0), R(1), U8(10),
+  /*  182 S> */ B(LdaNamedProperty), R(0), U8(4), U8(12),
   /*  189 S> */ B(Return),
 ]
 constant pool: [
diff --git a/test/cctest/interpreter/test-bytecode-generator.cc b/test/cctest/interpreter/test-bytecode-generator.cc
index 4664d1e3df..4519cd9a5a 100644
--- a/test/cctest/interpreter/test-bytecode-generator.cc
+++ b/test/cctest/interpreter/test-bytecode-generator.cc
@@ -664,6 +664,7 @@ TEST(IIFEWithOneshotOpt) {
         return arguments.callee;
       })();
     )",
+      // TODO(rmcilroy): Make this function produce one-shot code.
       R"(
       var t = 0;
       function f2() {};