diff --git a/flang/lib/Lower/ConvertExprToHLFIR.cpp b/flang/lib/Lower/ConvertExprToHLFIR.cpp
index 5981116a6d3f7..04b63f92a1fb4 100644
--- a/flang/lib/Lower/ConvertExprToHLFIR.cpp
+++ b/flang/lib/Lower/ConvertExprToHLFIR.cpp
@@ -205,17 +205,8 @@ class HlfirDesignatorBuilder {
       partInfo.resultShape =
           hlfir::genShape(getLoc(), getBuilder(), *partInfo.base);
 
-    // Dynamic type of polymorphic base must be kept if the designator is
-    // polymorphic.
-    if (isPolymorphic(designatorNode))
-      return fir::ClassType::get(resultValueType);
-    // Character scalar with dynamic length needs a fir.boxchar to hold the
-    // designator length.
-    auto charType = mlir::dyn_cast<fir::CharacterType>(resultValueType);
-    if (charType && charType.hasDynamicLen())
-      return fir::BoxCharType::get(charType.getContext(), charType.getFKind());
-
-    // When volatile is enabled, enable volatility on the designatory type.
+    // Enable volatility on the designatory type if it has the VOLATILE
+    // attribute or if the base is volatile.
     bool isVolatile = false;
 
     // Check if this should be a volatile reference
@@ -236,6 +227,17 @@ class HlfirDesignatorBuilder {
         isVolatile = true;
     }
 
+    // Dynamic type of polymorphic base must be kept if the designator is
+    // polymorphic.
+    if (isPolymorphic(designatorNode))
+      return fir::ClassType::get(resultValueType, isVolatile);
+
+    // Character scalar with dynamic length needs a fir.boxchar to hold the
+    // designator length.
+    auto charType = mlir::dyn_cast<fir::CharacterType>(resultValueType);
+    if (charType && charType.hasDynamicLen())
+      return fir::BoxCharType::get(charType.getContext(), charType.getFKind());
+
     // Check if the base type is volatile
     if (partInfo.base.has_value()) {
       mlir::Type baseType = partInfo.base.value().getType();
diff --git a/flang/test/Lower/volatile-derived-type-pointer.f90 b/flang/test/Lower/volatile-derived-type-pointer.f90
new file mode 100644
index 0000000000000..64c4e64784510
--- /dev/null
+++ b/flang/test/Lower/volatile-derived-type-pointer.f90
@@ -0,0 +1,43 @@
+! RUN: bbc %s -o - --strict-fir-volatile-verifier | FileCheck %s
+
+! Ensure that assignments between volatile classes/derived type pointer/targets
+! lower to the correct hlfir declare/designate operations.
+
+module m
+  type :: dt
+    character :: c0="!"
+    integer   :: i=0
+    character :: c1="!"
+  end type
+  end module
+  program dataptrvolatile
+  use m
+  implicit none
+  type(dt),  volatile , target  :: arr(100, 100), arr1(10000), t(100,100)
+  class(dt), volatile , pointer :: ptr(:, :)
+  integer             :: i, j
+  do i =1, 100
+  do j =i, 100
+    arr(i:, j:) = dt(i=-i)
+    ptr(i:, j:) => arr(i:, j:)
+    t(i:, j:) = ptr(i:, j:)
+  end do
+  end do
+end
+
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}}(%{{.+}}) {fortran_attrs = #fir.var_attrs<target, volatile>, uniq_name = "_QFEarr"} : (!fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, !fir.shape<2>) -> (!fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, !fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>)
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}}(%{{.+}}) {fortran_attrs = #fir.var_attrs<target, volatile>, uniq_name = "_QFEarr1"} : (!fir.ref<!fir.array<10000x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, !fir.shape<1>) -> (!fir.ref<!fir.array<10000x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, !fir.ref<!fir.array<10000x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>)
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}} {uniq_name = "_QFEi"} : (!fir.ref<i32>) -> (!fir.ref<i32>, !fir.ref<i32>)
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}} {uniq_name = "_QFEj"} : (!fir.ref<i32>) -> (!fir.ref<i32>, !fir.ref<i32>)
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}} {fortran_attrs = #fir.var_attrs<pointer, volatile>, uniq_name = "_QFEptr"} : (!fir.ref<!fir.class<!fir.ptr<!fir.array<?x?x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>>, volatile>, volatile>) -> (!fir.ref<!fir.class<!fir.ptr<!fir.array<?x?x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>>, volatile>, volatile>, !fir.ref<!fir.class<!fir.ptr<!fir.array<?x?x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>>, volatile>, volatile>)
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}}(%{{.+}}) {fortran_attrs = #fir.var_attrs<target, volatile>, uniq_name = "_QFEt"} : (!fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, !fir.shape<2>) -> (!fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, !fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>)
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}} {uniq_name = "ctor.temp"} : (!fir.ref<!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>) -> (!fir.ref<!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, !fir.ref<!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>)
+! CHECK:           %{{.+}} = hlfir.designate %{{.+}}#0{"c0"}   typeparams %{{.+}} : (!fir.ref<!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, index) -> !fir.ref<!fir.char<1>>
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}} typeparams %{{.+}} {fortran_attrs = #fir.var_attrs<parameter>, uniq_name = "_QQclX21"} : (!fir.ref<!fir.char<1>>, index) -> (!fir.ref<!fir.char<1>>, !fir.ref<!fir.char<1>>)
+! CHECK:           %{{.+}} = hlfir.designate %{{.+}}#0{"i"}   : (!fir.ref<!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>) -> !fir.ref<i32>
+! CHECK:           %{{.+}} = hlfir.designate %{{.+}}#0{"c1"}   typeparams %{{.+}} : (!fir.ref<!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, index) -> !fir.ref<!fir.char<1>>
+! CHECK:           %{{.+}}:2 = hlfir.declare %{{.+}} typeparams %{{.+}} {fortran_attrs = #fir.var_attrs<parameter>, uniq_name = "_QQclX21"} : (!fir.ref<!fir.char<1>>, index) -> (!fir.ref<!fir.char<1>>, !fir.ref<!fir.char<1>>)
+! CHECK:           %{{.+}} = hlfir.designate %{{.+}}#0 (%{{.+}}:%{{.+}}:%{{.+}}, %{{.+}}:%{{.+}}:%{{.+}})  shape %{{.+}} : (!fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, index, index, index, index, index, index, !fir.shape<2>) -> !fir.box<!fir.array<?x?x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>
+! CHECK:           %{{.+}} = hlfir.designate %{{.+}}#0 (%{{.+}}:%{{.+}}:%{{.+}}, %{{.+}}:%{{.+}}:%{{.+}})  shape %{{.+}} : (!fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, index, index, index, index, index, index, !fir.shape<2>) -> !fir.box<!fir.array<?x?x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>
+! CHECK:           %{{.+}} = hlfir.designate %{{.+}} (%{{.+}}:%{{.+}}:%{{.+}}, %{{.+}}:%{{.+}}:%{{.+}})  shape %{{.+}} : (!fir.class<!fir.ptr<!fir.array<?x?x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>>, volatile>, index, index, index, index, index, index, !fir.shape<2>) -> !fir.class<!fir.array<?x?x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>
+! CHECK:           %{{.+}} = hlfir.designate %{{.+}}#0 (%{{.+}}:%{{.+}}:%{{.+}}, %{{.+}}:%{{.+}}:%{{.+}})  shape %{{.+}} : (!fir.ref<!fir.array<100x100x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>, index, index, index, index, index, index, !fir.shape<2>) -> !fir.box<!fir.array<?x?x!fir.type<_QMmTdt{c0:!fir.char<1>,i:i32,c1:!fir.char<1>}>>, volatile>