diff --git a/src/compiler/checker.ts b/src/compiler/checker.ts
index a6e33b763c3..52cd728e7f7 100644
--- a/src/compiler/checker.ts
+++ b/src/compiler/checker.ts
@@ -3569,6 +3569,7 @@ namespace ts {
             if (!length(symbols)) return;
 
             let hadAccessibleChain: Symbol | undefined;
+            let earlyModuleBail = false;
             for (const symbol of symbols!) {
                 // Symbol is accessible if it by itself is accessible
                 const accessibleSymbolChain = getAccessibleSymbolChain(symbol, enclosingDeclaration, meaning, /*useOnlyExternalAliasing*/ false);
@@ -3581,6 +3582,14 @@ namespace ts {
                 }
                 else {
                     if (some(symbol.declarations, hasNonGlobalAugmentationExternalModuleSymbol)) {
+                        if (shouldComputeAliasesToMakeVisible) {
+                            earlyModuleBail = true;
+                            // Generally speaking, we want to use the aliases that already exist to refer to a module, if present
+                            // In order to do so, we need to find those aliases in order to retain them in declaration emit; so
+                            // if we are in declaration emit, we cannot use the fast path for module visibility until we've exhausted
+                            // all other visibility options (in order to capture the possible aliases used to reference the module)
+                            continue;
+                        }
                         // Any meaning of a module symbol is always accessible via an `import` type
                         return {
                             accessibility: SymbolAccessibility.Accessible
@@ -3617,6 +3626,12 @@ namespace ts {
                 }
             }
 
+            if (earlyModuleBail) {
+                return {
+                    accessibility: SymbolAccessibility.Accessible
+                };
+            }
+
             if (hadAccessibleChain) {
                 return {
                     accessibility: SymbolAccessibility.NotAccessible,
diff --git a/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.js b/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.js
new file mode 100644
index 00000000000..74d040697a2
--- /dev/null
+++ b/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.js
@@ -0,0 +1,31 @@
+//// [tests/cases/compiler/declarationsIndirectGeneratedAliasReference.ts] ////
+
+//// [ctor.d.ts]
+export interface Ctor {
+    x: number;
+}
+export type ExtendedCtor<T> = {x: number, ext: T};
+export interface CtorConstructor {
+    extends<T>(x: T): ExtendedCtor<T extends unknown ? Ctor : undefined>;
+}
+export const Ctor: CtorConstructor;
+//// [index.d.ts]
+import { Ctor } from "./ctor";
+export default Ctor;
+//// [index.ts]
+import * as ns from "mod";
+const Ctor = ns.default;
+export const MyComp = Ctor.extends({foo: "bar"});
+
+
+//// [index.js]
+"use strict";
+exports.__esModule = true;
+var ns = require("mod");
+var Ctor = ns["default"];
+exports.MyComp = Ctor["extends"]({ foo: "bar" });
+
+
+//// [index.d.ts]
+import * as ns from "mod";
+export declare const MyComp: import("mod/ctor").ExtendedCtor<ns.default>;
diff --git a/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.symbols b/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.symbols
new file mode 100644
index 00000000000..f09bdc55a78
--- /dev/null
+++ b/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.symbols
@@ -0,0 +1,54 @@
+=== tests/cases/compiler/node_modules/mod/ctor.d.ts ===
+export interface Ctor {
+>Ctor : Symbol(Ctor, Decl(ctor.d.ts, 0, 0), Decl(ctor.d.ts, 7, 12))
+
+    x: number;
+>x : Symbol(Ctor.x, Decl(ctor.d.ts, 0, 23))
+}
+export type ExtendedCtor<T> = {x: number, ext: T};
+>ExtendedCtor : Symbol(ExtendedCtor, Decl(ctor.d.ts, 2, 1))
+>T : Symbol(T, Decl(ctor.d.ts, 3, 25))
+>x : Symbol(x, Decl(ctor.d.ts, 3, 31))
+>ext : Symbol(ext, Decl(ctor.d.ts, 3, 41))
+>T : Symbol(T, Decl(ctor.d.ts, 3, 25))
+
+export interface CtorConstructor {
+>CtorConstructor : Symbol(CtorConstructor, Decl(ctor.d.ts, 3, 50))
+
+    extends<T>(x: T): ExtendedCtor<T extends unknown ? Ctor : undefined>;
+>extends : Symbol(CtorConstructor.extends, Decl(ctor.d.ts, 4, 34))
+>T : Symbol(T, Decl(ctor.d.ts, 5, 12))
+>x : Symbol(x, Decl(ctor.d.ts, 5, 15))
+>T : Symbol(T, Decl(ctor.d.ts, 5, 12))
+>ExtendedCtor : Symbol(ExtendedCtor, Decl(ctor.d.ts, 2, 1))
+>T : Symbol(T, Decl(ctor.d.ts, 5, 12))
+>Ctor : Symbol(Ctor, Decl(ctor.d.ts, 0, 0), Decl(ctor.d.ts, 7, 12))
+}
+export const Ctor: CtorConstructor;
+>Ctor : Symbol(Ctor, Decl(ctor.d.ts, 0, 0), Decl(ctor.d.ts, 7, 12))
+>CtorConstructor : Symbol(CtorConstructor, Decl(ctor.d.ts, 3, 50))
+
+=== tests/cases/compiler/node_modules/mod/index.d.ts ===
+import { Ctor } from "./ctor";
+>Ctor : Symbol(Ctor, Decl(index.d.ts, 0, 8))
+
+export default Ctor;
+>Ctor : Symbol(Ctor, Decl(index.d.ts, 0, 8))
+
+=== tests/cases/compiler/index.ts ===
+import * as ns from "mod";
+>ns : Symbol(ns, Decl(index.ts, 0, 6))
+
+const Ctor = ns.default;
+>Ctor : Symbol(Ctor, Decl(index.ts, 1, 5))
+>ns.default : Symbol(ns.default, Decl(index.d.ts, 0, 30))
+>ns : Symbol(ns, Decl(index.ts, 0, 6))
+>default : Symbol(ns.default, Decl(index.d.ts, 0, 30))
+
+export const MyComp = Ctor.extends({foo: "bar"});
+>MyComp : Symbol(MyComp, Decl(index.ts, 2, 12))
+>Ctor.extends : Symbol(CtorConstructor.extends, Decl(ctor.d.ts, 4, 34))
+>Ctor : Symbol(Ctor, Decl(index.ts, 1, 5))
+>extends : Symbol(CtorConstructor.extends, Decl(ctor.d.ts, 4, 34))
+>foo : Symbol(foo, Decl(index.ts, 2, 36))
+
diff --git a/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.types b/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.types
new file mode 100644
index 00000000000..fd5e2b65856
--- /dev/null
+++ b/tests/baselines/reference/declarationsIndirectGeneratedAliasReference.types
@@ -0,0 +1,45 @@
+=== tests/cases/compiler/node_modules/mod/ctor.d.ts ===
+export interface Ctor {
+    x: number;
+>x : number
+}
+export type ExtendedCtor<T> = {x: number, ext: T};
+>ExtendedCtor : ExtendedCtor<T>
+>x : number
+>ext : T
+
+export interface CtorConstructor {
+    extends<T>(x: T): ExtendedCtor<T extends unknown ? Ctor : undefined>;
+>extends : <T>(x: T) => ExtendedCtor<T extends unknown ? Ctor : undefined>
+>x : T
+}
+export const Ctor: CtorConstructor;
+>Ctor : CtorConstructor
+
+=== tests/cases/compiler/node_modules/mod/index.d.ts ===
+import { Ctor } from "./ctor";
+>Ctor : import("tests/cases/compiler/node_modules/mod/ctor").CtorConstructor
+
+export default Ctor;
+>Ctor : Ctor
+
+=== tests/cases/compiler/index.ts ===
+import * as ns from "mod";
+>ns : typeof ns
+
+const Ctor = ns.default;
+>Ctor : import("tests/cases/compiler/node_modules/mod/ctor").CtorConstructor
+>ns.default : import("tests/cases/compiler/node_modules/mod/ctor").CtorConstructor
+>ns : typeof ns
+>default : import("tests/cases/compiler/node_modules/mod/ctor").CtorConstructor
+
+export const MyComp = Ctor.extends({foo: "bar"});
+>MyComp : import("tests/cases/compiler/node_modules/mod/ctor").ExtendedCtor<import("tests/cases/compiler/node_modules/mod/ctor").Ctor>
+>Ctor.extends({foo: "bar"}) : import("tests/cases/compiler/node_modules/mod/ctor").ExtendedCtor<import("tests/cases/compiler/node_modules/mod/ctor").Ctor>
+>Ctor.extends : <T>(x: T) => import("tests/cases/compiler/node_modules/mod/ctor").ExtendedCtor<T extends unknown ? import("tests/cases/compiler/node_modules/mod/ctor").Ctor : undefined>
+>Ctor : import("tests/cases/compiler/node_modules/mod/ctor").CtorConstructor
+>extends : <T>(x: T) => import("tests/cases/compiler/node_modules/mod/ctor").ExtendedCtor<T extends unknown ? import("tests/cases/compiler/node_modules/mod/ctor").Ctor : undefined>
+>{foo: "bar"} : { foo: string; }
+>foo : string
+>"bar" : "bar"
+
diff --git a/tests/cases/compiler/declarationsIndirectGeneratedAliasReference.ts b/tests/cases/compiler/declarationsIndirectGeneratedAliasReference.ts
new file mode 100644
index 00000000000..f669103187a
--- /dev/null
+++ b/tests/cases/compiler/declarationsIndirectGeneratedAliasReference.ts
@@ -0,0 +1,17 @@
+// @declaration: true
+// @filename: node_modules/mod/ctor.d.ts
+export interface Ctor {
+    x: number;
+}
+export type ExtendedCtor<T> = {x: number, ext: T};
+export interface CtorConstructor {
+    extends<T>(x: T): ExtendedCtor<T extends unknown ? Ctor : undefined>;
+}
+export const Ctor: CtorConstructor;
+// @filename: node_modules/mod/index.d.ts
+import { Ctor } from "./ctor";
+export default Ctor;
+// @filename: index.ts
+import * as ns from "mod";
+const Ctor = ns.default;
+export const MyComp = Ctor.extends({foo: "bar"});