diff --git a/Include/cpython/funcobject.h b/Include/cpython/funcobject.h
index 9e1599a7648564..352cdcfd5ad5f9 100644
--- a/Include/cpython/funcobject.h
+++ b/Include/cpython/funcobject.h
@@ -43,6 +43,7 @@ typedef struct {
     PyObject *func_annotations; /* Annotations, a dict or NULL */
     PyObject *func_annotate;    /* Callable to fill the annotations dictionary */
     PyObject *func_typeparams;  /* Tuple of active type variables or NULL */
+    PyObject *func_old_codes;
     vectorcallfunc vectorcall;
     /* Version number for use by specializer.
      * Can set to non-zero when we want to specialize.
diff --git a/Include/internal/pycore_interpframe.h b/Include/internal/pycore_interpframe.h
index 9809cd292995f0..c22a94d6dbbf0e 100644
--- a/Include/internal/pycore_interpframe.h
+++ b/Include/internal/pycore_interpframe.h
@@ -132,7 +132,7 @@ _PyFrame_NumSlotsForCodeObject(PyCodeObject *code)
 
 static inline void _PyFrame_Copy(_PyInterpreterFrame *src, _PyInterpreterFrame *dest)
 {
-    dest->f_executable = PyStackRef_MakeHeapSafe(src->f_executable);
+    dest->f_executable = PyStackRef_Borrow(src->f_executable);
     // Don't leave a dangling pointer to the old frame when creating generators
     // and coroutines:
     dest->previous = NULL;
@@ -191,7 +191,7 @@ _PyFrame_Initialize(
 {
     frame->previous = previous;
     frame->f_funcobj = func;
-    frame->f_executable = PyStackRef_FromPyObjectNew(code);
+    frame->f_executable = PyStackRef_FromPyObjectBorrow((PyObject *)code);
     PyFunctionObject *func_obj = (PyFunctionObject *)PyStackRef_AsPyObjectBorrow(func);
     frame->f_builtins = func_obj->func_builtins;
     frame->f_globals = func_obj->func_globals;
@@ -424,7 +424,7 @@ _PyFrame_PushTrampolineUnchecked(PyThreadState *tstate, PyCodeObject *code, int
     assert(tstate->datastack_top < tstate->datastack_limit);
     frame->previous = previous;
     frame->f_funcobj = PyStackRef_None;
-    frame->f_executable = PyStackRef_FromPyObjectNew(code);
+    frame->f_executable = PyStackRef_FromPyObjectBorrow((PyObject *)code);
 #ifdef Py_DEBUG
     frame->f_builtins = NULL;
     frame->f_globals = NULL;
diff --git a/Lib/test/test_capi/test_function.py b/Lib/test/test_capi/test_function.py
index c1a278e5d4da91..eb976a97c81dc3 100644
--- a/Lib/test/test_capi/test_function.py
+++ b/Lib/test/test_capi/test_function.py
@@ -325,6 +325,28 @@ def annofn(arg: int) -> str:
         with self.assertRaises(SystemError):
             _testcapi.function_get_annotations(None)
 
+    def test_function_old_codes(self):
+        def f():
+            pass
+
+        def g():
+            pass
+
+        def h():
+            pass
+
+        old_codes = _testcapi.function_get_old_codes(f)
+        self.assertIsNone(old_codes)
+
+        f.__code__ = g.__code__
+        old_codes = _testcapi.function_get_old_codes(f)
+        self.assertIsInstance(old_codes, list)
+        self.assertEqual(len(old_codes), 1)
+
+        f.__code__ = h.__code__
+        old_codes = _testcapi.function_get_old_codes(f)
+        self.assertEqual(len(old_codes), 2)
+
     # TODO: test PyFunction_New()
     # TODO: test PyFunction_NewWithQualName()
     # TODO: test PyFunction_SetVectorcall()
diff --git a/Lib/test/test_sys.py b/Lib/test/test_sys.py
index 1773633730ea00..fd1fa40b73e214 100644
--- a/Lib/test/test_sys.py
+++ b/Lib/test/test_sys.py
@@ -1703,7 +1703,7 @@ def func():
         check(x, size('3PiccPPP' + INTERPRETER_FRAME + 'P'))
         # function
         def func(): pass
-        check(func, size('16Pi'))
+        check(func, size('17Pi'))
         class c():
             @staticmethod
             def foo():
diff --git a/Modules/_testcapi/function.c b/Modules/_testcapi/function.c
index 40767adbd3f14a..bc790a63254b43 100644
--- a/Modules/_testcapi/function.c
+++ b/Modules/_testcapi/function.c
@@ -130,6 +130,19 @@ function_get_annotations(PyObject *self, PyObject *func)
 }
 
 
+static PyObject *
+function_get_old_codes(PyObject *self, PyObject *func)
+{
+    PyFunctionObject *func_o = (PyFunctionObject *) func;
+    PyObject *old_codes = func_o->func_old_codes;
+    if (old_codes == NULL) {
+        Py_RETURN_NONE;
+    }
+
+    return Py_NewRef(old_codes);
+}
+
+
 static PyMethodDef test_methods[] = {
     {"function_get_code", function_get_code, METH_O, NULL},
     {"function_get_globals", function_get_globals, METH_O, NULL},
@@ -141,6 +154,7 @@ static PyMethodDef test_methods[] = {
     {"function_get_closure", function_get_closure, METH_O, NULL},
     {"function_set_closure", function_set_closure, METH_VARARGS, NULL},
     {"function_get_annotations", function_get_annotations, METH_O, NULL},
+    {"function_get_old_codes", function_get_old_codes, METH_O, NULL},
     {NULL},
 };
 
diff --git a/Objects/funcobject.c b/Objects/funcobject.c
index 0fffd36ad462da..1d898ba71f4268 100644
--- a/Objects/funcobject.c
+++ b/Objects/funcobject.c
@@ -145,6 +145,7 @@ _PyFunction_FromConstructor(PyFrameConstructor *constr)
     op->func_typeparams = NULL;
     op->vectorcall = _PyFunction_Vectorcall;
     op->func_version = FUNC_VERSION_UNSET;
+    op->func_old_codes = NULL;
     // NOTE: functions created via FrameConstructor do not use deferred
     // reference counting because they are typically not part of cycles
     // nor accessed by multiple threads.
@@ -223,6 +224,7 @@ PyFunction_NewWithQualName(PyObject *code, PyObject *globals, PyObject *qualname
     op->func_typeparams = NULL;
     op->vectorcall = _PyFunction_Vectorcall;
     op->func_version = FUNC_VERSION_UNSET;
+    op->func_old_codes = NULL;
     if (((code_obj->co_flags & CO_NESTED) == 0) ||
         (code_obj->co_flags & CO_METHOD)) {
         // Use deferred reference counting for top-level functions, but not
@@ -686,6 +688,17 @@ func_set_code(PyObject *self, PyObject *value, void *Py_UNUSED(ignored))
 
     handle_func_event(PyFunction_EVENT_MODIFY_CODE, op, value);
     _PyFunction_ClearVersion(op);
+    if (op->func_old_codes == NULL) {
+        op->func_old_codes = PyList_New(0);
+        if (op->func_old_codes == NULL) {
+            return -1;
+        }
+    }
+
+    if (PyList_Append(op->func_old_codes, op->func_code) < 0) {
+        return -1;
+    }
+
     Py_XSETREF(op->func_code, Py_NewRef(value));
     return 0;
 }
@@ -1114,6 +1127,7 @@ func_clear(PyObject *self)
     Py_CLEAR(op->func_annotations);
     Py_CLEAR(op->func_annotate);
     Py_CLEAR(op->func_typeparams);
+    Py_CLEAR(op->func_old_codes);
     // Don't Py_CLEAR(op->func_code), since code is always required
     // to be non-NULL. Similarly, name and qualname shouldn't be NULL.
     // However, name and qualname could be str subclasses, so they
@@ -1169,6 +1183,7 @@ func_traverse(PyObject *self, visitproc visit, void *arg)
     Py_VISIT(f->func_annotate);
     Py_VISIT(f->func_typeparams);
     Py_VISIT(f->func_qualname);
+    Py_VISIT(f->func_old_codes);
     return 0;
 }
 
diff --git a/Objects/genobject.c b/Objects/genobject.c
index 3cdc06733363d3..5b6aba60a8bdb3 100644
--- a/Objects/genobject.c
+++ b/Objects/genobject.c
@@ -93,11 +93,6 @@ gen_traverse(PyObject *self, visitproc visit, void *arg)
             return err;
         }
     }
-    else {
-        // We still need to visit the code object when the frame is cleared to
-        // ensure that it's kept alive if the reference is deferred.
-        _Py_VISIT_STACKREF(gen->gi_iframe.f_executable);
-    }
     /* No need to visit cr_origin, because it's just tuples/str/int, so can't
        participate in a reference cycle. */
     Py_VISIT(gen->gi_exc_state.exc_value);