diff --git a/src/script_opt/Expr.cc b/src/script_opt/Expr.cc
index 5a04a3bef1..90e5419a0d 100644
--- a/src/script_opt/Expr.cc
+++ b/src/script_opt/Expr.cc
@@ -2613,9 +2613,16 @@ ExprPtr InlineExpr::Reduce(Reducer* c, StmtPtr& red_stmt) {
     body = body->Reduce(c);
     c->PopInlineBlock();
 
-    auto catch_ret = with_location_of(make_intrusive<CatchReturnStmt>(sf, body, ret_val), this);
+    StmtPtr repl_stmt;
 
-    red_stmt = MergeStmts(red_stmt, catch_ret);
+    if ( body->Tag() == STMT_NULL )
+        // The inlined body reduced down to nothing, expose that fact
+        // rather than masking it with an empty catch-return.
+        repl_stmt = make_intrusive<NullStmt>();
+    else
+        repl_stmt = make_intrusive<CatchReturnStmt>(sf, body, ret_val);
+
+    red_stmt = MergeStmts(red_stmt, with_location_of(repl_stmt, this));
 
     return ret_val ? ret_val->Duplicate() : nullptr;
 }
diff --git a/testing/btest/Baseline/opt.null-inline-branch/output b/testing/btest/Baseline/opt.null-inline-branch/output
new file mode 100644
index 0000000000..acd35f11eb
--- /dev/null
+++ b/testing/btest/Baseline/opt.null-inline-branch/output
@@ -0,0 +1,2 @@
+### BTest baseline data generated by btest-diff. Do not edit. Use "btest -U/-u" to update. Requires BTest >= 0.63.
+got through the conditional
diff --git a/testing/btest/opt/null-inline-branch.zeek b/testing/btest/opt/null-inline-branch.zeek
new file mode 100644
index 0000000000..942b8509ac
--- /dev/null
+++ b/testing/btest/opt/null-inline-branch.zeek
@@ -0,0 +1,19 @@
+# @TEST-DOC: Regression test for past ZAM issues with inlining empty functions in conditionals
+#
+# @TEST-EXEC: zeek -b -O ZAM %INPUT >output
+# @TEST-EXEC: btest-diff output
+
+function empty_func() {}
+
+# Use a global to avoid constant propagation optimizing out the conditional.
+global bar = F;
+
+event zeek_init()
+	{
+	if ( bar )
+		empty_func();
+	else
+		empty_func();
+
+	print "got through the conditional";
+	}