diff --git a/doc/release-notes.md b/doc/release-notes.md
--- a/doc/release-notes.md
+++ b/doc/release-notes.md
@@ -36,6 +36,13 @@
   command line arguments.
 - The `hdmasterkeyid` return field has been removed from `getaddressinfo` and
   `getwalletinfo`.  Use `hdseedid` instead.
+- Descriptors with key origin information imported through `importmulti` will
+  have their key origin information stored in the wallet for use with creating
+  PSBTs.
+- If `bip32derivs` of both `walletprocesspsbt` and `walletcreatefundedpsbt` is
+  set to true but the key metadata for a public key has not been updated yet,
+  then that key will have a derivation path as if it were just an independent
+  key (i.e. no derivation path and its master fingerprint is itself)
 
 RPC importprivkey: new label behavior
 -------------------------------------
@@ -77,3 +84,10 @@
 ------------
 
 - `deriveaddresses` returns one or more addresses corresponding to an [output descriptor](/doc/descriptors.md).
+
+Miscellaneous Wallet changes
+----------------------------
+
+- The key metadata will need to be upgraded the first time that the HD seed is
+  available. For unencrypted wallets this will occur on wallet loading. For
+  encrypted wallets this will occur the first time the wallet is unlocked.
diff --git a/test/functional/wallet_importmulti.py b/test/functional/wallet_importmulti.py
--- a/test/functional/wallet_importmulti.py
+++ b/test/functional/wallet_importmulti.py
@@ -514,6 +514,72 @@
                      ismine=False,
                      iswatchonly=False)
 
+        # Import pubkeys with key origin info
+        self.log.info(
+            "Addresses should have hd keypath and master key id after import with key origin")
+        pub_addr = self.nodes[1].getnewaddress()
+        pub_addr = self.nodes[1].getnewaddress()
+        info = self.nodes[1].getaddressinfo(pub_addr)
+        pub = info['pubkey']
+        pub_keypath = info['hdkeypath']
+        pub_fpr = info['hdmasterfingerprint']
+        result = self.nodes[0].importmulti(
+            [{
+                'desc': "pkh([" + pub_fpr + pub_keypath[1:] + "]" + pub + ")",
+                "timestamp": "now",
+            }]
+        )
+        assert result[0]['success']
+        pub_import_info = self.nodes[0].getaddressinfo(pub_addr)
+        assert_equal(pub_import_info['hdmasterfingerprint'], pub_fpr)
+        assert_equal(pub_import_info['pubkey'], pub)
+        assert_equal(pub_import_info['hdkeypath'], pub_keypath)
+
+        # Import privkeys with key origin info
+        priv_addr = self.nodes[1].getnewaddress()
+        info = self.nodes[1].getaddressinfo(priv_addr)
+        priv = self.nodes[1].dumpprivkey(priv_addr)
+        priv_keypath = info['hdkeypath']
+        priv_fpr = info['hdmasterfingerprint']
+        result = self.nodes[0].importmulti(
+            [{
+                'desc': "pkh([" + priv_fpr + priv_keypath[1:] + "]" + priv + ")",
+                "timestamp": "now",
+            }]
+        )
+        assert result[0]['success']
+        priv_import_info = self.nodes[0].getaddressinfo(priv_addr)
+        assert_equal(priv_import_info['hdmasterfingerprint'], priv_fpr)
+        assert_equal(priv_import_info['hdkeypath'], priv_keypath)
+
+        # Make sure the key origin info are still there after a restart
+        self.stop_nodes()
+        self.start_nodes()
+        import_info = self.nodes[0].getaddressinfo(pub_addr)
+        assert_equal(import_info['hdmasterfingerprint'], pub_fpr)
+        assert_equal(import_info['hdkeypath'], pub_keypath)
+        import_info = self.nodes[0].getaddressinfo(priv_addr)
+        assert_equal(import_info['hdmasterfingerprint'], priv_fpr)
+        assert_equal(import_info['hdkeypath'], priv_keypath)
+
+        # Check legacy import does not import key origin info
+        self.log.info("Legacy imports don't have key origin info")
+        pub_addr = self.nodes[1].getnewaddress()
+        info = self.nodes[1].getaddressinfo(pub_addr)
+        pub = info['pubkey']
+        result = self.nodes[0].importmulti(
+            [{
+                'scriptPubKey': {'address': pub_addr},
+                'pubkeys': [pub],
+                "timestamp": "now",
+            }]
+        )
+        assert result[0]['success']
+        pub_import_info = self.nodes[0].getaddressinfo(pub_addr)
+        assert_equal(pub_import_info['pubkey'], pub)
+        assert 'hdmasterfingerprint' not in pub_import_info
+        assert 'hdkeypath' not in pub_import_info
+
 
 if __name__ == '__main__':
     ImportMultiTest().main()