diff --git a/llvm/include/llvm/IR/DiagnosticInfo.h b/llvm/include/llvm/IR/DiagnosticInfo.h
index 4c34c39683e56..0d582cc17967e 100644
--- a/llvm/include/llvm/IR/DiagnosticInfo.h
+++ b/llvm/include/llvm/IR/DiagnosticInfo.h
@@ -61,6 +61,7 @@ enum DiagnosticKind {
   DK_Generic,
   DK_GenericWithLoc,
   DK_InlineAsm,
+  DK_RegAllocFailure,
   DK_ResourceLimit,
   DK_StackSize,
   DK_Linker,
@@ -399,6 +400,32 @@ class DiagnosticInfoGenericWithLoc : public DiagnosticInfoWithLocationBase {
   }
 };
 
+class DiagnosticInfoRegAllocFailure : public DiagnosticInfoWithLocationBase {
+private:
+  /// Message to be reported.
+  const Twine &MsgStr;
+
+public:
+  /// \p MsgStr is the message to be reported to the frontend.
+  /// This class does not copy \p MsgStr, therefore the reference must be valid
+  /// for the whole life time of the Diagnostic.
+  DiagnosticInfoRegAllocFailure(const Twine &MsgStr, const Function &Fn,
+                                const DiagnosticLocation &DL,
+                                DiagnosticSeverity Severity = DS_Error);
+
+  DiagnosticInfoRegAllocFailure(const Twine &MsgStr, const Function &Fn,
+                                DiagnosticSeverity Severity = DS_Error);
+
+  const Twine &getMsgStr() const { return MsgStr; }
+
+  /// \see DiagnosticInfo::print.
+  void print(DiagnosticPrinter &DP) const override;
+
+  static bool classof(const DiagnosticInfo *DI) {
+    return DI->getKind() == DK_RegAllocFailure;
+  }
+};
+
 /// Diagnostic information for stack size etc. reporting.
 /// This is basically a function and a size.
 class DiagnosticInfoResourceLimit : public DiagnosticInfoWithLocationBase {
diff --git a/llvm/lib/CodeGen/RegAllocBase.cpp b/llvm/lib/CodeGen/RegAllocBase.cpp
index e9fcff5c8ccbd..6300f6b8bf6d1 100644
--- a/llvm/lib/CodeGen/RegAllocBase.cpp
+++ b/llvm/lib/CodeGen/RegAllocBase.cpp
@@ -23,6 +23,7 @@
 #include "llvm/CodeGen/Spiller.h"
 #include "llvm/CodeGen/TargetRegisterInfo.h"
 #include "llvm/CodeGen/VirtRegMap.h"
+#include "llvm/IR/DiagnosticInfo.h"
 #include "llvm/IR/Module.h"
 #include "llvm/Pass.h"
 #include "llvm/Support/CommandLine.h"
@@ -124,17 +125,20 @@ void RegAllocBase::allocatePhysRegs() {
 
       const TargetRegisterClass *RC = MRI->getRegClass(VirtReg->reg());
       ArrayRef<MCPhysReg> AllocOrder = RegClassInfo.getOrder(RC);
-      if (AllocOrder.empty())
+      if (AllocOrder.empty()) {
         report_fatal_error("no registers from class available to allocate");
-      else if (MI && MI->isInlineAsm()) {
-        MI->emitInlineAsmError(
-            "inline assembly requires more registers than available");
-      } else if (MI) {
-        LLVMContext &Context =
-            MI->getParent()->getParent()->getFunction().getContext();
-        Context.emitError("ran out of registers during register allocation");
       } else {
-        report_fatal_error("ran out of registers during register allocation");
+        if (MI && MI->isInlineAsm()) {
+          MI->emitInlineAsmError(
+              "inline assembly requires more registers than available");
+        } else {
+          const Function &Fn = VRM->getMachineFunction().getFunction();
+          LLVMContext &Context = Fn.getContext();
+          DiagnosticInfoRegAllocFailure DI(
+              "ran out of registers during register allocation", Fn,
+              MI ? MI->getDebugLoc() : DiagnosticLocation());
+          Context.diagnose(DI);
+        }
       }
 
       // Keep going after reporting the error.
diff --git a/llvm/lib/CodeGen/RegAllocFast.cpp b/llvm/lib/CodeGen/RegAllocFast.cpp
index cd1e6263d7a43..65a27d564d1e3 100644
--- a/llvm/lib/CodeGen/RegAllocFast.cpp
+++ b/llvm/lib/CodeGen/RegAllocFast.cpp
@@ -682,7 +682,7 @@ void RegAllocFastImpl::reloadAtBegin(MachineBasicBlock &MBB) {
       getMBBBeginInsertionPoint(MBB, PrologLiveIns);
   for (const LiveReg &LR : LiveVirtRegs) {
     MCPhysReg PhysReg = LR.PhysReg;
-    if (PhysReg == 0)
+    if (PhysReg == 0 || LR.Error)
       continue;
 
     MCRegister FirstUnit = *TRI->regunits(PhysReg).begin();
@@ -963,14 +963,22 @@ void RegAllocFastImpl::allocVirtReg(MachineInstr &MI, LiveReg &LR,
   if (!BestReg) {
     // Nothing we can do: Report an error and keep going with an invalid
     // allocation.
-    if (MI.isInlineAsm())
+    if (MI.isInlineAsm()) {
       MI.emitInlineAsmError(
           "inline assembly requires more registers than available");
-    else
-      MI.emitInlineAsmError("ran out of registers during register allocation");
+    } else {
+      const Function &Fn = MBB->getParent()->getFunction();
+      DiagnosticInfoRegAllocFailure DI(
+          "ran out of registers during register allocation", Fn,
+          MI.getDebugLoc());
+      Fn.getContext().diagnose(DI);
+    }
 
     LR.Error = true;
-    LR.PhysReg = 0;
+    if (!AllocationOrder.empty())
+      LR.PhysReg = AllocationOrder.front();
+    else
+      LR.PhysReg = 0;
     return;
   }
 
@@ -1076,7 +1084,7 @@ bool RegAllocFastImpl::defineVirtReg(MachineInstr &MI, unsigned OpNum,
       return setPhysReg(MI, MO, *AllocationOrder.begin());
     }
   } else {
-    assert(!isRegUsedInInstr(LRI->PhysReg, LookAtPhysRegUses) &&
+    assert((!isRegUsedInInstr(LRI->PhysReg, LookAtPhysRegUses) || LRI->Error) &&
            "TODO: preassign mismatch");
     LLVM_DEBUG(dbgs() << "In def of " << printReg(VirtReg, TRI)
                       << " use existing assignment to "
diff --git a/llvm/lib/IR/DiagnosticInfo.cpp b/llvm/lib/IR/DiagnosticInfo.cpp
index eb91f49a524ac..0e526ada4b405 100644
--- a/llvm/lib/IR/DiagnosticInfo.cpp
+++ b/llvm/lib/IR/DiagnosticInfo.cpp
@@ -80,6 +80,24 @@ void DiagnosticInfoInlineAsm::print(DiagnosticPrinter &DP) const {
     DP << " at line " << getLocCookie();
 }
 
+DiagnosticInfoRegAllocFailure::DiagnosticInfoRegAllocFailure(
+    const Twine &MsgStr, const Function &Fn, const DiagnosticLocation &DL,
+    DiagnosticSeverity Severity)
+    : DiagnosticInfoWithLocationBase(DK_RegAllocFailure, Severity, Fn,
+                                     DL.isValid() ? DL : Fn.getSubprogram()),
+      MsgStr(MsgStr) {}
+
+DiagnosticInfoRegAllocFailure::DiagnosticInfoRegAllocFailure(
+    const Twine &MsgStr, const Function &Fn, DiagnosticSeverity Severity)
+    : DiagnosticInfoWithLocationBase(DK_RegAllocFailure, Severity, Fn,
+                                     Fn.getSubprogram()),
+      MsgStr(MsgStr) {}
+
+void DiagnosticInfoRegAllocFailure::print(DiagnosticPrinter &DP) const {
+  DP << getLocationStr() << ": " << MsgStr << " in function '" << getFunction()
+     << '\'';
+}
+
 DiagnosticInfoResourceLimit::DiagnosticInfoResourceLimit(
     const Function &Fn, const char *ResourceName, uint64_t ResourceSize,
     uint64_t ResourceLimit, DiagnosticSeverity Severity, DiagnosticKind Kind)
diff --git a/llvm/test/CodeGen/AArch64/arm64-anyregcc-crash.ll b/llvm/test/CodeGen/AArch64/arm64-anyregcc-crash.ll
index b4fb9b613233d..ad8b027f8b760 100644
--- a/llvm/test/CodeGen/AArch64/arm64-anyregcc-crash.ll
+++ b/llvm/test/CodeGen/AArch64/arm64-anyregcc-crash.ll
@@ -2,7 +2,7 @@
 ;
 ; Check that misuse of anyregcc results in a compile time error.
 
-; CHECK: error: ran out of registers during register allocation
+; CHECK: error: <unknown>:0:0: ran out of registers during register allocation
 define i64 @anyreglimit(i64 %v1, i64 %v2, i64 %v3, i64 %v4, i64 %v5, i64 %v6, i64 %v7, i64 %v8,
                         i64 %v9, i64 %v10, i64 %v11, i64 %v12, i64 %v13, i64 %v14, i64 %v15, i64 %v16,
                         i64 %v17, i64 %v18, i64 %v19, i64 %v20, i64 %v21, i64 %v22, i64 %v23, i64 %v24,
diff --git a/llvm/test/CodeGen/AMDGPU/illegal-eviction-assert.mir b/llvm/test/CodeGen/AMDGPU/illegal-eviction-assert.mir
index 40089ed82b5db..99c27fa0bc95c 100644
--- a/llvm/test/CodeGen/AMDGPU/illegal-eviction-assert.mir
+++ b/llvm/test/CodeGen/AMDGPU/illegal-eviction-assert.mir
@@ -6,7 +6,7 @@
 # check was inconsistent with a later assertion when the eviction was
 # performed.
 
-# ERR: error: ran out of registers during register allocation
+# ERR: error: <unknown>:0:0: ran out of registers during register allocation
 
 --- |
   define void @foo() #0 {
diff --git a/llvm/test/CodeGen/AMDGPU/issue48473.mir b/llvm/test/CodeGen/AMDGPU/issue48473.mir
index 5c202d9928ab7..e272bd3480383 100644
--- a/llvm/test/CodeGen/AMDGPU/issue48473.mir
+++ b/llvm/test/CodeGen/AMDGPU/issue48473.mir
@@ -2,7 +2,7 @@
 # RUN: FileCheck -check-prefix=ERR %s < %t.err
 
 # ERR: error: register allocation failed: maximum depth for recoloring reached. Use -fexhaustive-register-search to skip cutoffs
-# ERR-NEXT: error: ran out of registers during register allocation
+# ERR-NEXT: error: <unknown>:0:0: ran out of registers during register allocation
 
 # This testcase used to fail with an "overlapping insert" assertion
 # when trying to roll back an unsucessful recoloring of %25. One of
diff --git a/llvm/test/CodeGen/AMDGPU/ran-out-of-registers-error-all-regs-reserved.ll b/llvm/test/CodeGen/AMDGPU/ran-out-of-registers-error-all-regs-reserved.ll
new file mode 100644
index 0000000000000..3e3e201040015
--- /dev/null
+++ b/llvm/test/CodeGen/AMDGPU/ran-out-of-registers-error-all-regs-reserved.ll
@@ -0,0 +1,21 @@
+; RUN: not --crash llc -mtriple=amdgcn-amd-amdhsa -mcpu=gfx908 -vgpr-regalloc=greedy -filetype=null %s 2>&1 | FileCheck %s
+; RUN: not --crash llc -mtriple=amdgcn-amd-amdhsa -mcpu=gfx908 -vgpr-regalloc=basic -filetype=null %s 2>&1 | FileCheck %s
+
+; TODO: Check regalloc fast when it doesn't assert after failing.
+
+; CHECK: LLVM ERROR: no registers from class available to allocate
+
+declare <32 x i32> @llvm.amdgcn.mfma.i32.32x32x4i8(i32, i32, <32 x i32>, i32 immarg, i32 immarg, i32 immarg)
+
+define <32 x i32> @no_registers_from_class_available_to_allocate(<32 x i32> %arg) #0 {
+  %ret = call <32 x i32> @llvm.amdgcn.mfma.i32.32x32x4i8(i32 1, i32 2, <32 x i32> %arg, i32 1, i32 2, i32 3)
+  ret <32 x i32> %ret
+}
+
+; FIXME: Special case in fast RA, asserts. Also asserts in greedy
+; define void @no_registers_from_class_available_to_allocate_undef_asm() #0 {
+;   call void asm sideeffect "; use $0", "v"(<32 x i32> poison)
+;   ret void
+; }
+
+attributes #0 = { "amdgpu-waves-per-eu"="10,10" }
diff --git a/llvm/test/CodeGen/AMDGPU/ran-out-of-registers-errors.ll b/llvm/test/CodeGen/AMDGPU/ran-out-of-registers-errors.ll
new file mode 100644
index 0000000000000..3d150fe90d5ce
--- /dev/null
+++ b/llvm/test/CodeGen/AMDGPU/ran-out-of-registers-errors.ll
@@ -0,0 +1,70 @@
+; RUN: not llc -mtriple=amdgcn-amd-amdhsa -stress-regalloc=1 -vgpr-regalloc=greedy -filetype=null %s 2>&1 | FileCheck -check-prefixes=CHECK,GREEDY -implicit-check-not=error %s
+; RUN: not llc -mtriple=amdgcn-amd-amdhsa -stress-regalloc=1 -vgpr-regalloc=basic -filetype=null %s 2>&1 | FileCheck -implicit-check-not=error -check-prefixes=CHECK,BASIC %s
+; RUN: not llc -mtriple=amdgcn-amd-amdhsa -stress-regalloc=1 -vgpr-regalloc=fast -filetype=null %s 2>&1 | FileCheck -implicit-check-not=error -check-prefixes=CHECK,FAST %s
+; RUN: opt -passes=debugify -o %t.bc %s
+; RUN: not llc -mtriple=amdgcn-amd-amdhsa -stress-regalloc=1 -vgpr-regalloc=greedy -filetype=null %t.bc 2>&1 | FileCheck -implicit-check-not=error -check-prefixes=DBGINFO-CHECK,DBGINFO-GREEDY %s
+; RUN: not llc -mtriple=amdgcn-amd-amdhsa -stress-regalloc=1 -vgpr-regalloc=basic -filetype=null %t.bc 2>&1 | FileCheck -implicit-check-not=error -check-prefixes=DBGINFO-CHECK,DBGINFO-BASIC %s
+
+; FIXME: Asserts when using -O2 + -vgpr-regalloc=fast
+; RUN: not llc -mtriple=amdgcn-amd-amdhsa -mcpu=gfx908 -stress-regalloc=1 -O0 -filetype=null %t.bc 2>&1 | FileCheck -implicit-check-not=error -check-prefixes=DBGINFO-CHECK,DBGINFO-FAST %s
+
+; TODO: Should we fix emitting multiple errors sometimes in basic and fast?
+
+
+; CHECK: error: <unknown>:0:0: ran out of registers during register allocation in function 'ran_out_of_registers_general'
+; BASIC: error: <unknown>:0:0: ran out of registers during register allocation in function 'ran_out_of_registers_general'
+; FAST: error: <unknown>:0:0: ran out of registers during register allocation in function 'ran_out_of_registers_general'
+
+; DBGINFO-GREEDY: error: {{.*}}:3:1: ran out of registers during register allocation in function 'ran_out_of_registers_general'
+
+; DBGINFO-BASIC: error: {{.*}}:1:1: ran out of registers during register allocation in function 'ran_out_of_registers_general'
+; DBGINFO-BASIC: error: {{.*}}:3:1: ran out of registers during register allocation in function 'ran_out_of_registers_general'
+
+; DBGINFO-FAST: error: {{.*}}:3:1: ran out of registers during register allocation in function 'ran_out_of_registers_general'
+; DBGINFO-FAST: error: {{.*}}:1:0: ran out of registers during register allocation in function 'ran_out_of_registers_general'
+define i32 @ran_out_of_registers_general(ptr addrspace(1) %ptr) #0 {
+  %ld0 = load volatile i32, ptr addrspace(1) %ptr
+  %ld1 = load volatile i32, ptr addrspace(1) %ptr
+  %add = add i32 %ld0, %ld1
+  ret i32 %add
+}
+
+; CHECK: error: inline assembly requires more registers than available at line 23
+; DBGINFO-CHECK: error: inline assembly requires more registers than available at line 23
+define void @ran_out_of_registers_asm_def() #0 {
+  %asm = call { i32, i32 } asm sideeffect "; def $0 $1", "=v,=v"(), !srcloc !0
+  ret void
+}
+
+; CHECK: error: inline assembly requires more registers than available at line 23
+; DBGINFO-CHECK: error: inline assembly requires more registers than available at line 23
+define void @ran_out_of_registers_asm_use() #0 {
+  call void asm sideeffect "; def $0 $1", "v,v"(i32 0, i32 1), !srcloc !0
+  ret void
+}
+
+; Test error in anonymous function.
+
+; GREEDY: error: inline assembly requires more registers than available at line 23
+; BASIC: error: inline assembly requires more registers than available at line 23
+
+; FAST: error: <unknown>:0:0: ran out of registers during register allocation in function '@0'
+; FAST: error: <unknown>:0:0: ran out of registers during register allocation in function '@0'
+
+
+; DBGINFO-GREEDY: error: inline assembly requires more registers than available at line 23
+; DBGINFO-BASIC: error: inline assembly requires more registers than available at line 23
+
+; DBGINFO-FAST: error: {{.*}}:12:1: ran out of registers during register allocation in function '@0'
+; DBGINFO-FAST: error: {{.*}}:9:0: ran out of registers during register allocation in function '@0'
+define i32 @0(ptr addrspace(1) %ptr) #0 {
+  %asm = call { i32, i32 } asm sideeffect "; def $0 $1 use $2", "=v,=v,v"(ptr addrspace(1) %ptr), !srcloc !0
+  %elt0 = extractvalue { i32, i32 } %asm, 0
+  %elt1 = extractvalue { i32, i32 } %asm, 1
+  %add = add i32 %elt0, %elt1
+  ret i32 %add
+}
+
+attributes #0 = { "target-cpu"="gfx908" }
+
+!0 = !{i32 23}
diff --git a/llvm/test/CodeGen/AMDGPU/remaining-virtual-register-operands.ll b/llvm/test/CodeGen/AMDGPU/remaining-virtual-register-operands.ll
index 04e995b6f343e..8e3054cceb85b 100644
--- a/llvm/test/CodeGen/AMDGPU/remaining-virtual-register-operands.ll
+++ b/llvm/test/CodeGen/AMDGPU/remaining-virtual-register-operands.ll
@@ -10,7 +10,7 @@
 ; This happens due to when register allocator is out of registers
 ; it takes the first avialable register.
 
-; CHECK: error: ran out of registers during register allocation
+; CHECK: error: <unknown>:0:0: ran out of registers during register allocation
 ; CHECK: Bad machine code: Using an undefined physical register
 define amdgpu_kernel void @alloc_failure_with_split_vregs(float %v0, float %v1) #0 {
   %agpr0 = call float asm sideeffect "; def $0", "=${a0}"()
diff --git a/llvm/test/CodeGen/PowerPC/ppc64-anyregcc-crash.ll b/llvm/test/CodeGen/PowerPC/ppc64-anyregcc-crash.ll
index a7d372c5e61a2..e4d96678b2877 100644
--- a/llvm/test/CodeGen/PowerPC/ppc64-anyregcc-crash.ll
+++ b/llvm/test/CodeGen/PowerPC/ppc64-anyregcc-crash.ll
@@ -2,7 +2,7 @@
 ;
 ; Check that misuse of anyregcc results in a compile time error.
 
-; CHECK: error: ran out of registers during register allocation
+; CHECK: error: <unknown>:0:0: ran out of registers during register allocation
 define i64 @anyreglimit(i64 %v1, i64 %v2, i64 %v3, i64 %v4, i64 %v5, i64 %v6, i64 %v7, i64 %v8,
                         i64 %v9, i64 %v10, i64 %v11, i64 %v12, i64 %v13, i64 %v14, i64 %v15, i64 %v16,
                         i64 %v17, i64 %v18, i64 %v19, i64 %v20, i64 %v21, i64 %v22, i64 %v23, i64 %v24,
diff --git a/llvm/test/CodeGen/X86/anyregcc-crash.ll b/llvm/test/CodeGen/X86/anyregcc-crash.ll
index d5d6ebe751c0d..3b65babea23eb 100644
--- a/llvm/test/CodeGen/X86/anyregcc-crash.ll
+++ b/llvm/test/CodeGen/X86/anyregcc-crash.ll
@@ -2,7 +2,7 @@
 ;
 ; Check that misuse of anyregcc results in a compile time error.
 
-; CHECK: error: ran out of registers during register allocation
+; CHECK: error: <unknown>:0:0: ran out of registers during register allocation
 define i64 @anyreglimit(i64 %v1, i64 %v2, i64 %v3, i64 %v4, i64 %v5, i64 %v6,
                         i64 %v7, i64 %v8, i64 %v9, i64 %v10, i64 %v11, i64 %v12,
                         i64 %v13, i64 %v14, i64 %v15, i64 %v16) {