diff --git a/etc/redux-toolkit.api.md b/etc/redux-toolkit.api.md
index 700363d48d..a7167b7c3f 100644
--- a/etc/redux-toolkit.api.md
+++ b/etc/redux-toolkit.api.md
@@ -102,8 +102,13 @@ export function createAction<P = void, T extends string = string>(type: T): Payl
 export function createAction<PA extends PrepareAction<any>, T extends string = string>(type: T, prepareAction: PA): PayloadActionCreator<ReturnType<PA>['payload'], T, PA>;
 
 // @alpha (undocumented)
-export function createAsyncThunk<ActionType extends string, Returned, ActionParams = void, TA extends AsyncThunksArgs<any, any, any> = AsyncThunksArgs<unknown, unknown, Dispatch>>(type: ActionType, payloadCreator: (args: ActionParams, thunkArgs: TA) => Promise<Returned> | Returned): {
-    (args: ActionParams): (dispatch: TA["dispatch"], getState: TA["getState"], extra: TA["extra"]) => Promise<any>;
+export function createAsyncThunk<ActionType extends string, Returned, ActionParams = void, TA extends AsyncThunksArgs<any, any, any> = AsyncThunksArgs<unknown, unknown, Dispatch>>(type: ActionType, payloadCreator: (args: ActionParams, thunkArgs: TA) => Promise<Returned> | Returned): ((args: ActionParams) => (dispatch: TA["dispatch"], getState: TA["getState"], extra: TA["extra"]) => Promise<import("./createAction").PayloadAction<Returned, string, {
+    args: ActionParams;
+    requestId: string;
+}, never> | import("./createAction").PayloadAction<undefined, string, {
+    args: ActionParams;
+    requestId: string;
+}, Error>>) & {
     pending: import("./createAction").ActionCreatorWithPreparedPayload<[string, ActionParams], undefined, string, never, {
         args: ActionParams;
         requestId: string;
diff --git a/src/createAsyncThunk.ts b/src/createAsyncThunk.ts
index 944b894f25..39713b7e97 100644
--- a/src/createAsyncThunk.ts
+++ b/src/createAsyncThunk.ts
@@ -101,34 +101,33 @@ export function createAsyncThunk<
     ) => {
       const requestId = nanoid()
 
-      let result: Returned
+      let finalAction: ReturnType<typeof fulfilled | typeof rejected>
       try {
         dispatch(pending(requestId, args))
 
-        result = (await payloadCreator(args, {
-          dispatch,
-          getState,
-          extra,
-          requestId
-        } as TA)) as Returned
+        finalAction = fulfilled(
+          await payloadCreator(args, {
+            dispatch,
+            getState,
+            extra,
+            requestId
+          } as TA),
+          requestId,
+          args
+        )
       } catch (err) {
         const serializedError = miniSerializeError(err)
-        dispatch(rejected(serializedError, requestId, args))
-        // Rethrow this so the user can handle if desired
-        throw err
+        finalAction = rejected(serializedError, requestId, args)
       }
 
       // We dispatch "success" _after_ the catch, to avoid having any errors
       // here get swallowed by the try/catch block,
       // per https://twitter.com/dan_abramov/status/770914221638942720
       // and https://redux-toolkit.js.org/tutorials/advanced-tutorial#async-error-handling-logic-in-thunks
-      return dispatch(fulfilled(result!, requestId, args))
+      dispatch(finalAction)
+      return finalAction
     }
   }
 
-  actionCreator.pending = pending
-  actionCreator.rejected = rejected
-  actionCreator.fulfilled = fulfilled
-
-  return actionCreator
+  return Object.assign(actionCreator, { pending, rejected, fulfilled })
 }
diff --git a/type-tests/files/createAsyncThunk.typetest.ts b/type-tests/files/createAsyncThunk.typetest.ts
index 8badad5d5d..b50b81f472 100644
--- a/type-tests/files/createAsyncThunk.typetest.ts
+++ b/type-tests/files/createAsyncThunk.typetest.ts
@@ -1,4 +1,4 @@
-import { createAsyncThunk, Dispatch, createReducer } from 'src'
+import { createAsyncThunk, Dispatch, createReducer, AnyAction } from 'src'
 import { ThunkDispatch } from 'redux-thunk'
 
 function expectType<T>(t: T) {
@@ -7,20 +7,37 @@ function expectType<T>(t: T) {
 function fn() {}
 
 // basic usage
-{
-  const dispatch = fn as ThunkDispatch<any, any, any>
+;(async function() {
+  const dispatch = fn as ThunkDispatch<{}, any, AnyAction>
 
   const async = createAsyncThunk('test', (id: number) =>
     Promise.resolve(id * 2)
   )
-  dispatch(async(3))
 
   const reducer = createReducer({}, builder =>
     builder
-      .addCase(async.pending, (_, action) => {})
+      .addCase(async.pending, (_, action) => {
+        expectType<ReturnType<typeof async['pending']>>(action)
+      })
       .addCase(async.fulfilled, (_, action) => {
+        expectType<ReturnType<typeof async['fulfilled']>>(action)
         expectType<number>(action.payload)
       })
-      .addCase(async.rejected, (_, action) => {})
+      .addCase(async.rejected, (_, action) => {
+        expectType<ReturnType<typeof async['rejected']>>(action)
+        expectType<Error>(action.error)
+      })
   )
-}
+
+  const result = await dispatch(async(3))
+
+  if (async.fulfilled.match(result)) {
+    expectType<ReturnType<typeof async['fulfilled']>>(result)
+    // typings:expect-error
+    expectType<ReturnType<typeof async['rejected']>>(result)
+  } else {
+    expectType<ReturnType<typeof async['rejected']>>(result)
+    // typings:expect-error
+    expectType<ReturnType<typeof async['fulfilled']>>(result)
+  }
+})()