diff --git a/doc/release-notes.md b/doc/release-notes.md
--- a/doc/release-notes.md
+++ b/doc/release-notes.md
@@ -10,3 +10,35 @@
  - The `inactivehdmaster` property in the `dumpwallet` output has been
    deprecated in favor of `inactivehdseed`. `inactivehdmaster` will be removed
    in V0.21.
+'label' API for wallet
+----------------------
+ 
+ A new 'label' API has been introduced for the wallet. This is intended as a
+ replacement for the deprecated 'account' API.
+ 
+ The label RPC methods mirror the account functionality, with the following functional differences:
+ 
+ - Labels can be set on any address, not just receiving addresses. This functionality was previously only available through the GUI.
+ - Labels can be deleted by reassigning all addresses using the `setlabel` RPC method.
+ - There isn't support for sending transactions _from_ a label, or for determining which label a transaction was sent from.
+ - Labels do not have a balance.
+ 
+ Here are the changes to RPC methods:
+ 
+ | Deprecated Method       | New Method            | Notes       |
+ | :---------------------- | :-------------------- | :-----------|
+ | `getaccount`            | `getaddressinfo`      | `getaddressinfo` returns a json object with address information instead of just the name of the account as a string. |
+ | `getaccountaddress`     | `getlabeladdress`     | `getlabeladdress` throws an error by default if the label does not already exist, but provides a `force` option for compatibility with existing applications. |
+ | `getaddressesbyaccount` | `getaddressesbylabel` | `getaddressesbylabel` returns a json object with the addresses as keys, instead of a list of strings. |
+ | `getreceivedbyaccount`  | `getreceivedbylabel`  | _no change in behavior_ |
+ | `listaccounts`          | `listlabels`          | `listlabels` does not return a balance or accept `minconf` and `watchonly` arguments. |
+ | `listreceivedbyaccount` | `listreceivedbylabel` | Both methods return new `label` fields, along with `account` fields for backward compatibility. |
+ | `move`                  | n/a                   | _no replacement_ |
+ | `sendfrom`              | n/a                   | _no replacement_ |
+ | `setaccount`            | `setlabel`            | Both methods now: <ul><li>allow assigning labels to any address, instead of raising an error if the address is not receiving address.<li>delete the previous label associated with an address when the final address using that label is reassigned to a different label, instead of making an implicit `getaccountaddress` call to ensure the previous label still has a receiving address. |
+ 
+ | Changed Method         | Notes   |
+ | :--------------------- | :------ |
+ | `addmultisigaddress`   | Renamed `account` named parameter to `label`. Still accepts `account` for backward compatibility. |
+ | `getnewaddress`        | Renamed `account` named parameter to `label`. Still accepts `account` for backward compatibility. |
+ | `listunspent`          | Returns new `label` fields, along with `account` fields for backward compatibility. |
diff --git a/src/rpc/client.cpp b/src/rpc/client.cpp
--- a/src/rpc/client.cpp
+++ b/src/rpc/client.cpp
@@ -50,6 +50,7 @@
     {"listreceivedbylabel", 0, "minconf"},
     {"listreceivedbylabel", 1, "include_empty"},
     {"listreceivedbylabel", 2, "include_watchonly"},
+    {"getlabeladdress", 1, "force"},
     {"getbalance", 1, "minconf"},
     {"getbalance", 2, "include_watchonly"},
     {"getblockhash", 0, "height"},
diff --git a/src/wallet/rpcwallet.cpp b/src/wallet/rpcwallet.cpp
--- a/src/wallet/rpcwallet.cpp
+++ b/src/wallet/rpcwallet.cpp
@@ -240,19 +240,26 @@
         return NullUniValue;
     }
 
-    if (request.fHelp || request.params.size() != 1) {
+    if (request.fHelp || request.params.size() < 1 ||
+        request.params.size() > 2) {
         throw std::runtime_error(
-            "getlabeladdress \"label\"\n"
-            "\nReturns the current Bitcoin address for receiving payments to "
-            "this label.\n"
+            "getlabeladdress \"label\" ( force ) \n"
+            "\nReturns the default receiving address for this label. This will "
+            "reset to a fresh address once there's a transaction that spends "
+            "to it.\n"
             "\nArguments:\n"
-            "1. \"label\"         (string, required) The label name for the "
+            "1. \"label\"         (string, required) The label for the "
             "address. It can also be set to the empty string \"\" to represent "
-            "the default label. The label does not need to exist, it will be "
-            "created and a new address created  if there is no label by the "
-            "given name.\n"
+            "the default label.\n"
+            "2. \"force\"         (bool, optional) Whether the label should be "
+            "created if it does not yet exist. If False, the RPC will return "
+            "an error if called with a label that doesn't exist.\n"
+            "                                    Defaults to false (unless the "
+            "getaccountaddress method alias is being called, in which case "
+            "defaults to true for backwards compatibility).\n"
             "\nResult:\n"
-            "\"address\"          (string) The label bitcoin address\n"
+            "\"address\"          (string) The current receiving address for "
+            "the label.\n"
             "\nExamples:\n" +
             HelpExampleCli("getlabeladdress", "") +
             HelpExampleCli("getlabeladdress", "\"\"") +
@@ -263,6 +270,23 @@
 
     // Parse the label first so we don't generate a key if there's an error
     std::string label = LabelFromValue(request.params[0]);
+    bool force = request.strMethod == "getaccountaddress" ? true : false;
+    if (!request.params[1].isNull()) {
+        force = request.params[1].get_bool();
+    }
+
+    bool label_found = false;
+    for (const std::pair<CTxDestination, CAddressBookData> &item :
+         pwallet->mapAddressBook) {
+        if (item.second.name == label) {
+            label_found = true;
+            break;
+        }
+    }
+    if (!force && !label_found) {
+        throw JSONRPCError(RPC_WALLET_INVALID_LABEL_NAME,
+                           std::string("No addresses with label " + label));
+    }
 
     UniValue ret(UniValue::VSTR);
 
@@ -333,16 +357,15 @@
         return NullUniValue;
     }
 
-    if (request.fHelp || request.params.size() < 1 ||
-        request.params.size() > 2) {
+    if (request.fHelp || request.params.size() != 2) {
         throw std::runtime_error(
             "setlabel \"address\" \"label\"\n"
             "\nSets the label associated with the given address.\n"
             "\nArguments:\n"
             "1. \"address\"         (string, required) The bitcoin address to "
             "be associated with a label.\n"
-            "2. \"label\"           (string, required) The label to assign the "
-            "address to.\n"
+            "2. \"label\"           (string, required) The label to assign to "
+            "the address.\n"
             "\nExamples:\n" +
             HelpExampleCli("setlabel",
                            "\"1D1ZrZNe3JUo7ZycKEYQQiQAWd9y54F4XX\" \"tabby\"") +
@@ -359,26 +382,24 @@
                            "Invalid Bitcoin address");
     }
 
-    std::string label;
-    if (!request.params[1].isNull()) {
-        label = LabelFromValue(request.params[1]);
-    }
+    std::string label = LabelFromValue(request.params[1]);
 
-    // Only add the label if the address is yours.
     if (IsMine(*pwallet, dest)) {
-        // Detect when changing the label of an address that is the 'unused
-        // current key' of another label:
+        // Detect when changing the label of an address that is the receiving
+        // address of another label. If so, delete the account record for it.
+        // Labels, unlike addresses, can be deleted, and if we wouldn't do this,
+        // the record would stick around forever.
         if (pwallet->mapAddressBook.count(dest)) {
             std::string old_label = pwallet->mapAddressBook[dest].name;
-            if (dest == GetLabelDestination(pwallet, old_label)) {
-                GetLabelDestination(pwallet, old_label, true);
+            if (old_label != label &&
+                dest == GetLabelDestination(pwallet, old_label)) {
+                pwallet->DeleteLabel(old_label);
             }
         }
 
         pwallet->SetAddressBook(dest, label, "receive");
     } else {
-        throw JSONRPCError(RPC_MISC_ERROR,
-                           "setlabel can only be used with own address");
+        pwallet->SetAddressBook(dest, label, "send");
     }
 
     return NullUniValue;
@@ -4373,6 +4394,17 @@
     return ret;
 }
 
+/** Convert CAddressBookData to JSON record.  */
+static UniValue AddressBookDataToJSON(const CAddressBookData &data,
+                                      const bool verbose) {
+    UniValue ret(UniValue::VOBJ);
+    if (verbose) {
+        ret.pushKV("name", data.name);
+    }
+    ret.pushKV("purpose", data.purpose);
+    return ret;
+}
+
 UniValue getaddressinfo(const Config &config, const JSONRPCRequest &request) {
     std::shared_ptr<CWallet> const wallet = GetWalletForJSONRPCRequest(request);
     CWallet *const pwallet = wallet.get();
@@ -4442,6 +4474,16 @@
             "  \"hdmasterkeyid\" : \"<hash160>\" (string, optional) alias for "
             "hdseedid maintained for backwards compatibility. Will be removed "
             "in V0.21.\n"
+            "  \"labels\"                      (object) Array of labels "
+            "associated with the address.\n"
+            "    [\n"
+            "      { (json object of label data)\n"
+            "        \"name\": \"labelname\" (string) The label\n"
+            "        \"purpose\": \"string\" (string) Purpose of address "
+            "(\"send\" for sending address, \"receive\" for receiving "
+            "address)\n"
+            "      },...\n"
+            "    ]\n"
             "}\n"
             "\nExamples:\n" +
             HelpExampleCli("getaddressinfo",
@@ -4498,6 +4540,120 @@
             ret.pushKV("hdmasterkeyid", meta->hd_seed_id.GetHex());
         }
     }
+
+    // Currently only one label can be associated with an address, return an
+    // array so the API remains stable if we allow multiple labels to be
+    // associated with an address.
+    UniValue labels(UniValue::VARR);
+    std::map<CTxDestination, CAddressBookData>::iterator mi =
+        pwallet->mapAddressBook.find(dest);
+    if (mi != pwallet->mapAddressBook.end()) {
+        labels.push_back(AddressBookDataToJSON(mi->second, true));
+    }
+    ret.pushKV("labels", std::move(labels));
+
+    return ret;
+}
+
+UniValue getaddressesbylabel(const Config &config,
+                             const JSONRPCRequest &request) {
+    std::shared_ptr<CWallet> const wallet = GetWalletForJSONRPCRequest(request);
+    CWallet *const pwallet = wallet.get();
+    if (!EnsureWalletIsAvailable(pwallet, request.fHelp)) {
+        return NullUniValue;
+    }
+
+    if (request.fHelp || request.params.size() != 1)
+        throw std::runtime_error(
+            "getaddressesbylabel \"label\"\n"
+            "\nReturns the list of addresses assigned the specified label.\n"
+            "\nArguments:\n"
+            "1. \"label\"  (string, required) The label.\n"
+            "\nResult:\n"
+            "{ (json object with addresses as keys)\n"
+            "  \"address\": { (json object with information about address)\n"
+            "    \"purpose\": \"string\" (string)  Purpose of address "
+            "(\"send\" for sending address, \"receive\" for receiving "
+            "address)\n"
+            "  },...\n"
+            "}\n"
+            "\nExamples:\n" +
+            HelpExampleCli("getaddressesbylabel", "\"tabby\"") +
+            HelpExampleRpc("getaddressesbylabel", "\"tabby\""));
+
+    LOCK(pwallet->cs_wallet);
+
+    std::string label = LabelFromValue(request.params[0]);
+
+    // Find all addresses that have the given label
+    UniValue ret(UniValue::VOBJ);
+    for (const std::pair<CTxDestination, CAddressBookData> &item :
+         pwallet->mapAddressBook) {
+        if (item.second.name == label) {
+            ret.pushKV(EncodeDestination(item.first, config),
+                       AddressBookDataToJSON(item.second, false));
+        }
+    }
+
+    if (ret.empty()) {
+        throw JSONRPCError(RPC_WALLET_INVALID_LABEL_NAME,
+                           std::string("No addresses with label " + label));
+    }
+
+    return ret;
+}
+
+UniValue listlabels(const Config &config, const JSONRPCRequest &request) {
+    std::shared_ptr<CWallet> const wallet = GetWalletForJSONRPCRequest(request);
+    CWallet *const pwallet = wallet.get();
+    if (!EnsureWalletIsAvailable(pwallet, request.fHelp)) {
+        return NullUniValue;
+    }
+
+    if (request.fHelp || request.params.size() > 1)
+        throw std::runtime_error(
+            "listlabels ( \"purpose\" )\n"
+            "\nReturns the list of all labels, or labels that are assigned to "
+            "addresses with a specific purpose.\n"
+            "\nArguments:\n"
+            "1. \"purpose\"    (string, optional) Address purpose to list "
+            "labels for ('send','receive'). An empty string is the same as not "
+            "providing this argument.\n"
+            "\nResult:\n"
+            "[               (json array of string)\n"
+            "  \"label\",      (string) Label name\n"
+            "  ...\n"
+            "]\n"
+            "\nExamples:\n"
+            "\nList all labels\n" +
+            HelpExampleCli("listlabels", "") +
+            "\nList labels that have receiving addresses\n" +
+            HelpExampleCli("listlabels", "receive") +
+            "\nList labels that have sending addresses\n" +
+            HelpExampleCli("listlabels", "send") + "\nAs json rpc call\n" +
+            HelpExampleRpc("listlabels", "receive"));
+
+    LOCK(pwallet->cs_wallet);
+
+    std::string purpose;
+    if (!request.params[0].isNull()) {
+        purpose = request.params[0].get_str();
+    }
+
+    // Add to a set to sort by label name, then insert into Univalue array
+    std::set<std::string> label_set;
+    for (const std::pair<CTxDestination, CAddressBookData> &entry :
+         pwallet->mapAddressBook) {
+        if (purpose.empty() || entry.second.purpose == purpose) {
+            label_set.insert(entry.second.name);
+        }
+    }
+
+    UniValue ret(UniValue::VARR);
+    for (const std::string &name : label_set) {
+        ret.push_back(name);
+    }
+
     return ret;
 }
 
@@ -4605,22 +4761,15 @@
     { "wallet",             "backupwallet",                 backupwallet,                 {"destination"} },
     { "wallet",             "createwallet",                 createwallet,                 {"wallet_name"} },
     { "wallet",             "encryptwallet",                encryptwallet,                {"passphrase"} },
-    { "wallet",             "getaccountaddress",            getlabeladdress,              {"account"} },
-    { "wallet",             "getlabeladdress",              getlabeladdress,              {"label"} },
-    { "wallet",             "getaccount",                   getaccount,                   {"address"} },
-    { "wallet",             "getaddressesbyaccount",        getaddressesbyaccount,        {"account"} },
     { "wallet",             "getaddressinfo",               getaddressinfo,               {"address"} },
     { "wallet",             "getbalance",                   getbalance,                   {"account","minconf","include_watchonly"} },
     { "wallet",             "getnewaddress",                getnewaddress,                {"label|account", "address_type"} },
     { "wallet",             "getrawchangeaddress",          getrawchangeaddress,          {"address_type"} },
-    { "wallet",             "getreceivedbylabel",           getreceivedbylabel,           {"label","minconf"} },
-    { "wallet",             "getreceivedbyaccount",         getreceivedbylabel,           {"account","minconf"} },
     { "wallet",             "getreceivedbyaddress",         getreceivedbyaddress,         {"address","minconf"} },
     { "wallet",             "gettransaction",               gettransaction,               {"txid","include_watchonly"} },
     { "wallet",             "getunconfirmedbalance",        getunconfirmedbalance,        {} },
     { "wallet",             "getwalletinfo",                getwalletinfo,                {} },
     { "wallet",             "keypoolrefill",                keypoolrefill,                {"newsize"} },
-    { "wallet",             "listaccounts",                 listaccounts,                 {"minconf","include_watchonly"} },
     { "wallet",             "listaddressgroupings",         listaddressgroupings,         {} },
     { "wallet",             "listlockunspent",              listlockunspent,              {} },
     { "wallet",             "listreceivedbylabel",          listreceivedbylabel,          {"minconf","include_empty","include_watchonly"} },
@@ -4632,14 +4781,11 @@
     { "wallet",             "listwallets",                  listwallets,                  {} },
     { "wallet",             "loadwallet",                   loadwallet,                   {"filename"} },
     { "wallet",             "lockunspent",                  lockunspent,                  {"unlock","transactions"} },
-    { "wallet",             "move",                         movecmd,                      {"fromaccount","toaccount","amount","minconf","comment"} },
     { "wallet",             "rescanblockchain",             rescanblockchain,             {"start_height", "stop_height"} },
     { "wallet",             "sethdseed",                    sethdseed,                    {"newkeypool","seed"} },
     { "wallet",             "sendfrom",                     sendfrom,                     {"fromaccount","toaddress","amount","minconf","comment","comment_to"} },
     { "wallet",             "sendmany",                     sendmany,                     {"fromaccount","amounts","minconf","comment","subtractfeefrom"} },
     { "wallet",             "sendtoaddress",                sendtoaddress,                {"address","amount","comment","comment_to","subtractfeefromamount"} },
-    { "wallet",             "setlabel",                     setlabel,                     {"address","label"} },
-    { "wallet",             "setaccount",                   setlabel,                     {"address","account"} },
     { "wallet",             "settxfee",                     settxfee,                     {"amount"} },
     { "wallet",             "signmessage",                  signmessage,                  {"address","message"} },
     { "wallet",             "signrawtransactionwithwallet", signrawtransactionwithwallet, {"hextring","prevtxs","sighashtype"} },
@@ -4647,6 +4793,25 @@
     { "wallet",             "walletlock",                   walletlock,                   {} },
     { "wallet",             "walletpassphrasechange",       walletpassphrasechange,       {"oldpassphrase","newpassphrase"} },
     { "wallet",             "walletpassphrase",             walletpassphrase,             {"passphrase","timeout"} },
+
+    /** Account functions (deprecated) */
+    { "wallet",             "getaccountaddress",            getlabeladdress,              {"account"} },
+    { "wallet",             "getaccount",                   getaccount,                   {"address"} },
+    { "wallet",             "getaddressesbyaccount",        getaddressesbyaccount,        {"account"} },
+    { "wallet",             "getreceivedbyaccount",         getreceivedbylabel,           {"account","minconf"} },
+    { "wallet",             "listaccounts",                 listaccounts,                 {"minconf","include_watchonly"} },
+    { "wallet",             "listreceivedbyaccount",        listreceivedbylabel,          {"minconf","include_empty","include_watchonly"} },
+    { "wallet",             "setaccount",                   setlabel,                     {"address","account"} },
+    { "wallet",             "move",                         movecmd,                      {"fromaccount","toaccount","amount","minconf","comment"} },
+
+    /** Label functions (to replace non-balance account functions) */
+    { "wallet",             "getlabeladdress",              getlabeladdress,              {"label","force"} },
+    { "wallet",             "getaddressesbylabel",          getaddressesbylabel,          {"label"} },
+    { "wallet",             "getreceivedbylabel",           getreceivedbylabel,           {"label","minconf"} },
+    { "wallet",             "listlabels",                   listlabels,                   {"purpose"} },
+    { "wallet",             "listreceivedbylabel",          listreceivedbylabel,          {"minconf","include_empty","include_watchonly"} },
+    { "wallet",             "setlabel",                     setlabel,                     {"address","label"} },
+
     { "generating",         "generate",                     generate,                     {"nblocks","maxtries"} },
 };
 // clang-format on
diff --git a/src/wallet/wallet.h b/src/wallet/wallet.h
--- a/src/wallet/wallet.h
+++ b/src/wallet/wallet.h
@@ -575,7 +575,7 @@
 };
 
 /**
- * Internal transfers.
+ * DEPRECATED Internal transfers.
  * Database key is acentry<account><counter>.
  */
 class CAccountingEntry {
@@ -1154,6 +1154,7 @@
         EXCLUSIVE_LOCKS_REQUIRED(cs_main);
 
     std::set<CTxDestination> GetLabelAddresses(const std::string &label) const;
+    void DeleteLabel(const std::string &label);
 
     isminetype IsMine(const CTxIn &txin) const;
     /**
@@ -1366,7 +1367,7 @@
 };
 
 /**
- * Account information.
+ * DEPRECATED Account information.
  * Stored in wallet with key "acc"+string account name.
  */
 class CAccount {
diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -3968,6 +3968,11 @@
     return result;
 }
 
+void CWallet::DeleteLabel(const std::string &label) {
+    WalletBatch batch(*database);
+    batch.EraseAccount(label);
+}
+
 bool CReserveKey::GetReservedKey(CPubKey &pubkey, bool internal) {
     if (nIndex == -1) {
         CKeyPool keypool;
diff --git a/src/wallet/walletdb.h b/src/wallet/walletdb.h
--- a/src/wallet/walletdb.h
+++ b/src/wallet/walletdb.h
@@ -202,6 +202,7 @@
                               const CAccountingEntry &acentry);
     bool ReadAccount(const std::string &strAccount, CAccount &account);
     bool WriteAccount(const std::string &strAccount, const CAccount &account);
+    bool EraseAccount(const std::string &strAccount);
 
     /// Write destination data key,value tuple to database.
     bool WriteDestData(const CTxDestination &address, const std::string &key,
diff --git a/src/wallet/walletdb.cpp b/src/wallet/walletdb.cpp
--- a/src/wallet/walletdb.cpp
+++ b/src/wallet/walletdb.cpp
@@ -179,6 +179,10 @@
     return WriteIC(std::make_pair(std::string("acc"), strAccount), account);
 }
 
+bool WalletBatch::EraseAccount(const std::string &strAccount) {
+    return EraseIC(std::make_pair(std::string("acc"), strAccount));
+}
+
 bool WalletBatch::WriteAccountingEntry(const uint64_t nAccEntryNum,
                                        const CAccountingEntry &acentry) {
     return WriteIC(
diff --git a/test/functional/wallet_labels.py b/test/functional/wallet_labels.py
--- a/test/functional/wallet_labels.py
+++ b/test/functional/wallet_labels.py
@@ -12,6 +12,7 @@
     - sendfrom (with account arguments)
     - move (with account arguments)
 """
+from collections import defaultdict
 
 from test_framework.test_framework import BitcoinTestFramework
 from test_framework.util import assert_equal
@@ -75,9 +76,13 @@
         # recognize the label/address associations.
         labels = [Label(name) for name in ("a", "b", "c", "d", "e")]
         for label in labels:
-            label.add_receive_address(node.getlabeladdress(label.name))
+            label.add_receive_address(
+                node.getlabeladdress(label=label.name, force=True))
             label.verify(node)
 
+        # Check all labels are returned by listlabels.
+        assert_equal(node.listlabels(), [label.name for label in labels])
+
         # Send a transaction to each label, and make sure this forces
         # getlabeladdress to generate a new receiving address.
         for label in labels:
@@ -112,7 +117,7 @@
 
         # Check that setlabel can assign a label to a new unused address.
         for label in labels:
-            address = node.getlabeladdress("")
+            address = node.getlabeladdress(label="", force=True)
             node.setlabel(address, label.name)
             label.add_address(address)
             label.verify(node)
@@ -126,6 +131,7 @@
             multisig_address = node.addmultisigaddress(
                 5, addresses, label.name)['address']
             label.add_address(multisig_address)
+            label.purpose[multisig_address] = "send"
             label.verify(node)
             node.sendfrom("", multisig_address, 50)
         node.generate(101)
@@ -145,9 +151,7 @@
         change_label(node, labels[2].addresses[0], labels[2], labels[2])
 
         # Check that setlabel can set the label of an address which is
-        # already the receiving address of the label. It would probably make
-        # sense for this to be a no-op, but right now it resets the receiving
-        # address, causing getlabeladdress to return a brand new address.
+        # already the receiving address of the label. This is a no-op.
         change_label(node, labels[2].receive_address, labels[2], labels[2])
 
 
@@ -159,6 +163,8 @@
         self.receive_address = None
         # List of all addresses assigned with this label
         self.addresses = []
+        # Map of address to address purpose
+        self.purpose = defaultdict(lambda: "receive")
 
     def add_address(self, address):
         assert_equal(address not in self.addresses, True)
@@ -174,8 +180,15 @@
             assert_equal(node.getlabeladdress(self.name), self.receive_address)
 
         for address in self.addresses:
+            assert_equal(
+                node.getaddressinfo(address)['labels'][0],
+                {"name": self.name,
+                 "purpose": self.purpose[address]})
             assert_equal(node.getaccount(address), self.name)
 
+        assert_equal(
+            node.getaddressesbylabel(self.name),
+            {address: {"purpose": self.purpose[address]} for address in self.addresses})
         assert_equal(
             set(node.getaddressesbyaccount(self.name)), set(self.addresses))
 
@@ -191,7 +204,7 @@
     # address of a different label should reset the receiving address of
     # the old label, causing getlabeladdress to return a brand new
     # address.
-    if address == old_label.receive_address:
+    if old_label.name != new_label.name and address == old_label.receive_address:
         new_address = node.getlabeladdress(old_label.name)
         assert_equal(new_address not in old_label.addresses, True)
         assert_equal(new_address not in new_label.addresses, True)
diff --git a/test/functional/wallet_listreceivedby.py b/test/functional/wallet_listreceivedby.py
--- a/test/functional/wallet_listreceivedby.py
+++ b/test/functional/wallet_listreceivedby.py
@@ -154,7 +154,7 @@
         assert_equal(balance, balance_by_label + Decimal("0.1"))
 
         # Create a new label named "mynewlabel" that has a 0 balance
-        self.nodes[1].getlabeladdress("mynewlabel")
+        self.nodes[1].getlabeladdress(label="mynewlabel", force=True)
         received_by_label_json = [r for r in self.nodes[1].listreceivedbylabel(
             0, True) if r["label"] == "mynewlabel"][0]