diff --git a/analysis/low-level-api-fir/testData/getOrBuildFirBinary/annotatedContextParameterType.kt b/analysis/low-level-api-fir/testData/getOrBuildFirBinary/annotatedContextParameterType.kt
index d7f12c2..7a23899 100644
--- a/analysis/low-level-api-fir/testData/getOrBuildFirBinary/annotatedContextParameterType.kt
+++ b/analysis/low-level-api-fir/testData/getOrBuildFirBinary/annotatedContextParameterType.kt
@@ -1,4 +1,3 @@
-// IGNORE_FIR
 // LANGUAGE: +ContextParameters
 // DECLARATION_TYPE: org.jetbrains.kotlin.psi.KtClass
 // MAIN_FILE_NAME: MyClass
diff --git a/analysis/low-level-api-fir/testData/getOrBuildFirBinary/annotatedContextParameterType.txt b/analysis/low-level-api-fir/testData/getOrBuildFirBinary/annotatedContextParameterType.txt
new file mode 100644
index 0000000..8506a62
--- /dev/null
+++ b/analysis/low-level-api-fir/testData/getOrBuildFirBinary/annotatedContextParameterType.txt
@@ -0,0 +1,23 @@
+KT element: KtClass
+KT element text:
+public final class MyClass public constructor() {
+    context((@MyAnnotation ParameterizedInterface<@MyAnnotation kotlin.String>)) public final val bar: kotlin.String /* compiled code */ /* hasBackingField: false */
+        public final get() {/* compiled code */ }
+
+    context((@MyAnnotation ParameterizedInterface<@MyAnnotation kotlin.String>)) public final fun foo(): kotlin.Unit { /* compiled code */ }
+}
+FIR element: FirRegularClassImpl
+FIR source kind: KtRealSourceElementKind
+
+FIR element rendered:
+public final [ResolvedTo(BODY_RESOLVE)] [IsNewPlaceForBodyGeneration=false] class MyClass : R|kotlin/Any| {
+    context([ResolvedTo(BODY_RESOLVE)] <unused var>@R|@R|MyAnnotation|()  ParameterizedInterface<@R|MyAnnotation|()  kotlin/String>|)
+    public final [ResolvedTo(BODY_RESOLVE)] fun foo(): R|kotlin/Unit|
+
+    context([ResolvedTo(BODY_RESOLVE)] <unused var>@R|@R|MyAnnotation|()  ParameterizedInterface<@R|MyAnnotation|()  kotlin/String>|)
+    public final [ResolvedTo(BODY_RESOLVE)] [HasBackingFieldKey=false] val bar: R|kotlin/String|
+        public [ResolvedTo(BODY_RESOLVE)] [ContainingClassKey=MyClass] get(): R|kotlin/String|
+
+    public [ResolvedTo(BODY_RESOLVE)] [ContainingClassKey=MyClass] constructor(): R|MyClass|
+
+}
diff --git a/compiler/testData/psi/contextParameters/annotatedContextParameterType.decompiled.stubs.txt b/compiler/testData/psi/contextParameters/annotatedContextParameterType.decompiled.stubs.txt
index 2138933..9d5f49f 100644
--- a/compiler/testData/psi/contextParameters/annotatedContextParameterType.decompiled.stubs.txt
+++ b/compiler/testData/psi/contextParameters/annotatedContextParameterType.decompiled.stubs.txt
@@ -2,24 +2,32 @@
   PsiJetFileStubImpl[package=]
     PACKAGE_DIRECTIVE
     IMPORT_LIST
-    MODIFIER_LIST[]
-      CONTEXT_RECEIVER_LIST
-        CONTEXT_RECEIVER[label=null]
-          TYPE_REFERENCE
-            USER_TYPE
-              REFERENCE_EXPRESSION[referencedName=receiver]
-        VALUE_PARAMETER[fqName=null, hasDefaultValue=false, hasValOrVar=false, isMutable=false, name=null]
-          TYPE_REFERENCE
-            USER_TYPE
-              REFERENCE_EXPRESSION[referencedName=MyAnnotation]
-    MODIFIER_LIST[]
-      ANNOTATION_ENTRY[hasValueArguments=false, shortName=MyAnnotation]
-        CONSTRUCTOR_CALLEE
-          TYPE_REFERENCE
-            USER_TYPE
-              REFERENCE_EXPRESSION[referencedName=MyAnnotation]
     PROPERTY[fqName=bar, hasBackingField=false, hasDelegate=false, hasDelegateExpression=false, hasInitializer=false, hasReturnTypeRef=true, isExtension=false, isTopLevel=true, isVar=false, name=bar]
       MODIFIER_LIST[public]
+        CONTEXT_RECEIVER_LIST
+          CONTEXT_RECEIVER[label=null]
+            TYPE_REFERENCE
+              MODIFIER_LIST[]
+                ANNOTATION_ENTRY[hasValueArguments=false, shortName=MyAnnotation]
+                  CONSTRUCTOR_CALLEE
+                    TYPE_REFERENCE
+                      USER_TYPE
+                        REFERENCE_EXPRESSION[referencedName=MyAnnotation]
+              USER_TYPE
+                REFERENCE_EXPRESSION[referencedName=ParameterizedInterface]
+                TYPE_ARGUMENT_LIST
+                  TYPE_PROJECTION[projectionKind=NONE]
+                    TYPE_REFERENCE
+                      MODIFIER_LIST[]
+                        ANNOTATION_ENTRY[hasValueArguments=false, shortName=MyAnnotation]
+                          CONSTRUCTOR_CALLEE
+                            TYPE_REFERENCE
+                              USER_TYPE
+                                REFERENCE_EXPRESSION[referencedName=MyAnnotation]
+                      USER_TYPE
+                        USER_TYPE
+                          REFERENCE_EXPRESSION[referencedName=kotlin]
+                        REFERENCE_EXPRESSION[referencedName=String]
       TYPE_REFERENCE
         USER_TYPE
           USER_TYPE
@@ -28,24 +36,32 @@
       PROPERTY_ACCESSOR[hasBlockBody=true, hasBody=true, isGetter=true]
         MODIFIER_LIST[public final]
         VALUE_PARAMETER_LIST
-    MODIFIER_LIST[]
-      CONTEXT_RECEIVER_LIST
-        CONTEXT_RECEIVER[label=null]
-          TYPE_REFERENCE
-            USER_TYPE
-              REFERENCE_EXPRESSION[referencedName=receiver]
-        VALUE_PARAMETER[fqName=null, hasDefaultValue=false, hasValOrVar=false, isMutable=false, name=null]
-          TYPE_REFERENCE
-            USER_TYPE
-              REFERENCE_EXPRESSION[referencedName=MyAnnotation]
-    MODIFIER_LIST[]
-      ANNOTATION_ENTRY[hasValueArguments=false, shortName=MyAnnotation]
-        CONSTRUCTOR_CALLEE
-          TYPE_REFERENCE
-            USER_TYPE
-              REFERENCE_EXPRESSION[referencedName=MyAnnotation]
     FUN[fqName=foo, hasBlockBody=true, hasBody=true, hasTypeParameterListBeforeFunctionName=false, isExtension=false, isTopLevel=true, mayHaveContract=false, name=foo]
       MODIFIER_LIST[public]
+        CONTEXT_RECEIVER_LIST
+          CONTEXT_RECEIVER[label=null]
+            TYPE_REFERENCE
+              MODIFIER_LIST[]
+                ANNOTATION_ENTRY[hasValueArguments=false, shortName=MyAnnotation]
+                  CONSTRUCTOR_CALLEE
+                    TYPE_REFERENCE
+                      USER_TYPE
+                        REFERENCE_EXPRESSION[referencedName=MyAnnotation]
+              USER_TYPE
+                REFERENCE_EXPRESSION[referencedName=ParameterizedInterface]
+                TYPE_ARGUMENT_LIST
+                  TYPE_PROJECTION[projectionKind=NONE]
+                    TYPE_REFERENCE
+                      MODIFIER_LIST[]
+                        ANNOTATION_ENTRY[hasValueArguments=false, shortName=MyAnnotation]
+                          CONSTRUCTOR_CALLEE
+                            TYPE_REFERENCE
+                              USER_TYPE
+                                REFERENCE_EXPRESSION[referencedName=MyAnnotation]
+                      USER_TYPE
+                        USER_TYPE
+                          REFERENCE_EXPRESSION[referencedName=kotlin]
+                        REFERENCE_EXPRESSION[referencedName=String]
       VALUE_PARAMETER_LIST
       TYPE_REFERENCE
         USER_TYPE
diff --git a/core/descriptors/src/org/jetbrains/kotlin/renderer/DescriptorRendererImpl.kt b/core/descriptors/src/org/jetbrains/kotlin/renderer/DescriptorRendererImpl.kt
index a846bf4..c3c126a 100644
--- a/core/descriptors/src/org/jetbrains/kotlin/renderer/DescriptorRendererImpl.kt
+++ b/core/descriptors/src/org/jetbrains/kotlin/renderer/DescriptorRendererImpl.kt
@@ -761,9 +761,9 @@
         }
     }
 
-    private fun KotlinType.renderForReceiver(): String {
+    private fun KotlinType.renderForReceiver(wrapAnnotated: Boolean = false): String {
         var result = renderType(this)
-        if ((shouldRenderAsPrettyFunctionType(this) && !TypeUtils.isNullableType(this)) || this is DefinitelyNotNullType) {
+        if ((shouldRenderAsPrettyFunctionType(this) && !TypeUtils.isNullableType(this)) || this is DefinitelyNotNullType || wrapAnnotated && !this.annotations.isEmpty()) {
             result = "($result)"
         }
         return result
@@ -776,8 +776,8 @@
             return
         }
         for ((i, contextReceiver) in contextReceivers.withIndex()) {
-            builder.renderAnnotations(contextReceiver, AnnotationUseSiteTarget.RECEIVER)
-            val typeString = contextReceiver.type.renderForReceiver()
+            // Context receivers have to wrap type annotation to be parsed correctly
+            val typeString = contextReceiver.type.renderForReceiver(wrapAnnotated = true)
             builder.append(typeString)
             if (i == contextReceivers.lastIndex) {
                 builder.append(") ")