diff --git a/docs/component-statement.md b/docs/component-statement.md
index 89300dada..70a6e2409 100644
--- a/docs/component-statement.md
+++ b/docs/component-statement.md
@@ -4,7 +4,7 @@ You can define a component in code, similar to how you would define a class.
 ## Basic usage
 ```vb
 component MoviePoster extends "Poster"
-    sub init()
+    private sub init()
         print "MoviePoster init()"
     end sub
 end component
@@ -102,7 +102,7 @@ end component
 Private properties are written to `m`. Private functions are transpiled to scope-level functions (i.e. not written to m) and we will remove the `m.` when calling those functions.
 ```vb
 component MoviePoster extends "Poster"
-    sub init()
+    private sub init()
         m.toggleSubtitles()
     end sub
     private areSubtitlesEnabled as boolean = true
@@ -347,7 +347,7 @@ XML component templates can also be loaded from another file by using the `@Temp
 ```vb
 @TemplateUrl("./MoviePoster.xml")
 component MoviePoster extends "Poster"
-    sub init()
+    private sub init()
         print "MoviePoster"
     end sub
 end component
diff --git a/src/bscPlugin/fileProviders/ComponentStatementProvider.ts b/src/bscPlugin/fileProviders/ComponentStatementProvider.ts
index ebe04ef5e..c2f19e839 100644
--- a/src/bscPlugin/fileProviders/ComponentStatementProvider.ts
+++ b/src/bscPlugin/fileProviders/ComponentStatementProvider.ts
@@ -7,11 +7,12 @@ import { Cache } from '../../Cache';
 import * as path from 'path';
 import { util } from '../../util';
 import type { ProvideFileEvent } from '../../interfaces';
-import { isDottedGetExpression, isFieldStatement, isMethodStatement, isVariableExpression } from '../../astUtils/reflection';
+import { isDottedGetExpression, isFieldStatement, isMethodStatement, isVariableExpression, isLiteralExpression, isTemplateStringExpression, isAnnotationExpression } from '../../astUtils/reflection';
 import { createFunctionStatement, createFunctionExpression, createDottedSetStatement, createVariableExpression } from '../../astUtils/creators';
 import type { Statement } from '../../parser/AstNode';
 import { TokenKind } from '../../lexer/TokenKind';
 import { VariableExpression } from '../../parser/Expression';
+import type { AnnotationExpression } from '../../parser/Expression';
 
 export class ComponentStatementProvider {
     constructor(
@@ -19,7 +20,6 @@ export class ComponentStatementProvider {
     ) {
     }
 
-
     /**
      * Create virtual files for every component statement found in this physical file
      */
@@ -27,7 +27,7 @@ export class ComponentStatementProvider {
         const cache = new Cache<string, string>();
         file.ast.walk(createVisitor({
             ComponentStatement: (node) => {
-                //force the desetPath for this component to be within the `pkg:/components` folder
+                //force the destPath for this component to be within the `pkg:/components` folder
                 const destDir = cache.getOrAdd(file.srcPath, () => {
                     return path.dirname(file.destPath).replace(/^(.+?)(?=[\/\\]|$)/, (match: string, firstDirName: string) => {
                         return 'components';
@@ -56,31 +56,91 @@ export class ComponentStatementProvider {
 
                 //declare interface field
             } else if (isFieldStatement(member) && member.accessModifier?.text.toLowerCase() === 'public') {
-                return `<field id="${member.name.text}" type="${member.typeExpression.getName()}" />`;
+                return this.generateTagWithAttributes('field', {
+                    id: member.name.text,
+                    type: member.typeExpression.getName(),
+                    alias: this.getAnnotationValue(member.annotations?.filter(x => x.name.toLowerCase() === 'alias')),
+                    onChange: this.getAnnotationValue(member.annotations?.filter(x => x.name.toLowerCase() === 'onchange')),
+                    alwaysNotify: this.getAnnotationValue(member.annotations?.filter(x => x.name.toLowerCase() === 'alwaysnotify')) === 'true' ? 'true' : ''
+                }, true);
             } else {
                 return '';
             }
         }).filter(x => !!x);
 
+        let componentChildren = '';
+        const template = statement.annotations?.find(x => x.name.toLowerCase() === 'template');
+        if (isAnnotationExpression(template)) {
+            // TODO: Better strip of component and children elements.
+            componentChildren = `<children>${this.getAnnotationValue([template]).replaceAll('<component>', '').replaceAll('</component>', '').replaceAll('<children>', '').replaceAll('</children>', '')}</children>`;
+        }
+
+        let componentAttributes = {
+            name: name,
+            extends: statement.getParentName(ParseMode.BrightScript) ?? 'Group',
+            initialFocus: ''
+        };
+        const initialFocus = statement.annotations?.find(x => x.name.toLowerCase() === 'initialfocus');
+        if (isAnnotationExpression(initialFocus)) {
+            componentAttributes.initialFocus = this.getAnnotationValue([initialFocus]);
+        }
         xmlFile.parse(undent`
-            <component name="${name}" extends="${statement.getParentName(ParseMode.BrightScript) ?? 'Group'}">
+            ${this.generateTagWithAttributes('component', componentAttributes)};
                 <script uri="${util.sanitizePkgPath(file.destPath)}" />
                 <script uri="${util.sanitizePkgPath(codebehindFile.destPath)}" />
                 ${interfaceMembers.length > 0 ? '<interface>' : ''}
                     ${interfaceMembers.join('\n                    ')}
                 ${interfaceMembers.length > 0 ? '</interface>' : ''}
+                ${componentChildren}
             </component>
         `);
 
-
         this.event.files.push(xmlFile);
     }
 
+    private generateTagWithAttributes(identifier = '' as string, attributes = {} as Record<string, any>, closeEnd = false as boolean) {
+        let tag = `<${identifier}`;
+        Object.keys(attributes).forEach(attribute => {
+            let value = attributes[attribute];
+            // Only add a attribute if the value is not empty.
+            if (value !== '') {
+                tag += ` ${attribute}="${attributes[attribute]}"`;
+            }
+        });
+        tag += closeEnd ? ' />': ' >';
+        return tag;
+    }
+
+    private getAnnotationValue(annotations: AnnotationExpression[]) {
+        let response = [];
+        if (annotations !== undefined) {
+            for (const annotation of annotations) {
+                let args = annotation?.call?.args[0];
+                if (isVariableExpression(args) || isDottedGetExpression(args)) {
+                    response.push(args.name.text);
+                } else if (isLiteralExpression(args)) {
+                    let values = args?.token?.text.replaceAll('\"', '').replaceAll(' ', '').split(',');
+                    response = response.concat(values);
+                } else if (isTemplateStringExpression(args)) {
+                    let textOutput = '';
+                    args.quasis[0]?.expressions?.forEach((a: { token: { text: string } }) => {
+                        textOutput += a.token.text;
+                    });
+                    response.push(textOutput);
+                }
+            }
+
+            response = response.filter((item, index) => response.indexOf(item) === index);
+        }
+        return response.join(', ');
+    }
+
     private registerCodebehind(name: string, statement: ComponentStatement, destDir: string) {
         //create the codebehind file
         const file = this.event.fileFactory.BrsFile({
             srcPath: `virtual:/${destDir}/${name}.codebehind.bs`,
-            destPath: `${destDir}/${name}.codebehind.brs`
+            destPath: `${destDir}/${name}.codebehind.bs`,
+            pkgPath: `${destDir}/${name}.codebehind.brs`
         });
         const initStatements: Statement[] = [];
         let initFunc: FunctionStatement;
@@ -121,7 +181,7 @@ export class ComponentStatementProvider {
             initFunc.func.body.statements.unshift(...initStatements);
         }
 
-        //TODO these are hacks that we need until scope has been refactored to leverate the AST directly
+        //TODO these are hacks that we need until scope has been refactored to leverage the AST directly
         file.parser.invalidateReferences();
         // eslint-disable-next-line @typescript-eslint/dot-notation
         file['findCallables']();
diff --git a/src/parser/tests/statement/ComponentStatement.spec.ts b/src/parser/tests/statement/ComponentStatement.spec.ts
index 95699b1cc..6dd720ee0 100644
--- a/src/parser/tests/statement/ComponentStatement.spec.ts
+++ b/src/parser/tests/statement/ComponentStatement.spec.ts
@@ -1,3 +1,4 @@
+/* eslint-disable @typescript-eslint/await-thenable */
 import util, { standardizePath as s } from '../../../util';
 import { Program } from '../../../Program';
 import { expectDiagnostics, expectZeroDiagnostics, getTestTranspile, stagingDir, tempDir } from '../../../testHelpers.spec';
@@ -193,6 +194,7 @@ describe('ComponentStatement', () => {
             end component
         `);
 
+        // eslint-disable-next-line @typescript-eslint/await-thenable
         await testTranspile(program.getFile('components/MainScene.xml'), `
             <component name="MainScene" extends="Group">
                 <script uri="pkg:/components/MainScene.brs" type="text/brightscript" />
@@ -245,7 +247,7 @@ describe('ComponentStatement', () => {
             </component>
         `);
 
-        await testTranspile(program.getFile('components/MainScene.codebehind.brs'), `
+        await testTranspile(program.getFile('components/MainScene.codebehind.bs'), `
             sub init()
                 print "MainScene"
             end sub
@@ -277,7 +279,7 @@ describe('ComponentStatement', () => {
             </component>
         `);
 
-        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.brs'), `
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), `
             sub EnableVoiceMode(isEnabled as boolean)
                 m.top.voiceModeEnabled = isEnabled
             end sub
@@ -299,7 +301,7 @@ describe('ComponentStatement', () => {
             </component>
         `);
 
-        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.brs'), `
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), `
             sub init()
                 m.isEnabled = true
             end sub
@@ -316,7 +318,7 @@ describe('ComponentStatement', () => {
             end component
         `);
 
-        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.brs'), `
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), `
             sub init()
                 m.isEnabled = true
                 'test
@@ -336,7 +338,7 @@ describe('ComponentStatement', () => {
             end component
         `);
 
-        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.brs'), `
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), `
             sub init()
                 'test
             end sub
@@ -359,7 +361,7 @@ describe('ComponentStatement', () => {
             end component
         `);
 
-        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.brs'), `
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), `
             sub init()
                 doSomething()
             end sub
@@ -369,4 +371,140 @@ describe('ComponentStatement', () => {
             end sub
         `);
     });
+
+    it('includes xml template', async () => {
+        program.setFile('components/ZombieKeyboard.bs', `
+            @template(\`
+                <label />
+            \`)
+            component ZombieKeyboard
+            end component
+        `);
+        expectZeroDiagnostics(program);
+
+        expect(
+            program.getFile('components/ZombieKeyboard.codebehind.bs')
+        ).to.exist;
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.xml'), `
+            <component name="ZombieKeyboard" extends="Group">
+                <script uri="pkg:/components/ZombieKeyboard.brs" type="text/brightscript" />
+                <script uri="pkg:/components/ZombieKeyboard.codebehind.brs" type="text/brightscript" />
+                <script type="text/brightscript" uri="pkg:/source/bslib.brs" />
+                <children>
+                    <label />
+                </children>
+            </component>
+        `);
+    });
+
+    it('support initialFocus annotation', async () => {
+        program.setFile('components/ZombieKeyboard.bs', `
+            @template(\`
+                <label id="theLabel" />
+            \`)
+            @initialFocus(m.theLabel)
+            component ZombieKeyboard
+            end component
+        `);
+
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.xml'), `
+            <component name="ZombieKeyboard" extends="Group" initialFocus="theLabel">
+                <script uri="pkg:/components/ZombieKeyboard.brs" type="text/brightscript" />
+                <script uri="pkg:/components/ZombieKeyboard.codebehind.brs" type="text/brightscript" />
+                <script type="text/brightscript" uri="pkg:/source/bslib.brs" />
+                <children>
+                    <label id="theLabel" />
+                </children>
+            </component>
+        `);
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), ``);
+    });
+
+    it('support alwaysNotify annotations on interface fields', async () => {
+        program.setFile('components/ZombieKeyboard.bs', `
+            component ZombieKeyboard
+                @alwaysNotify(true)
+                public testField as string
+            end component
+        `);
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.xml'), `
+            <component name="ZombieKeyboard" extends="Group">
+                <script uri="pkg:/components/ZombieKeyboard.brs" type="text/brightscript" />
+                <script uri="pkg:/components/ZombieKeyboard.codebehind.brs" type="text/brightscript" />
+                <script type="text/brightscript" uri="pkg:/source/bslib.brs" />
+                <interface>
+                    <field id="testField" type="string" alwaysNotify="true" />
+                </interface>
+            </component>
+        `);
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), ``);
+    });
+
+    it('support alias annotations on interface fields', async () => {
+        program.setFile('components/ZombieKeyboard.bs', `
+            @template(\`
+                <label id="theLabel" />
+                <label id="theOtherLabel" />
+            \`)
+            component ZombieKeyboard
+                @alias("theLabel.text")
+                @alias("theOtherLabel.text")
+                @alias("theOtherLabel.text", "theLabel.text")
+                @alias("theLabel.text", "theOtherLabel.text")
+                public testField as string
+            end component
+        `);
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.xml'), `
+            <component name="ZombieKeyboard" extends="Group">
+                <script uri="pkg:/components/ZombieKeyboard.brs" type="text/brightscript" />
+                <script uri="pkg:/components/ZombieKeyboard.codebehind.brs" type="text/brightscript" />
+                <script type="text/brightscript" uri="pkg:/source/bslib.brs" />
+                <interface>
+                    <field id="testField" type="string" alias="theLabel.text, theOtherLabel.text" />
+                </interface>
+                <children>
+                    <label id="theLabel" />
+                    <label id="theOtherLabel" />
+                </children>
+            </component>
+        `);
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), ``);
+    });
+
+    it('support onChange annotations on interface fields', async () => {
+        program.setFile('components/ZombieKeyboard.bs', `
+            component ZombieKeyboard
+                @onChange(m.doSomething)
+                public testField as string
+
+                private sub doSomething()
+                    print "do something"
+                end sub
+            end component
+        `);
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.codebehind.bs'), `
+            sub doSomething()
+                print "do something"
+            end sub
+        `);
+
+        await testTranspile(program.getFile('components/ZombieKeyboard.xml'), `
+            <component name="ZombieKeyboard" extends="Group">
+                <script uri="pkg:/components/ZombieKeyboard.brs" type="text/brightscript" />
+                <script uri="pkg:/components/ZombieKeyboard.codebehind.brs" type="text/brightscript" />
+                <script type="text/brightscript" uri="pkg:/source/bslib.brs" />
+                <interface>
+                    <field id="testField" type="string" onChange="doSomething" />
+                </interface>
+            </component>
+        `);
+    });
 });