diff --git a/src/Compilers/CSharp/Portable/Symbols/MemberSignatureComparer.cs b/src/Compilers/CSharp/Portable/Symbols/MemberSignatureComparer.cs
index 2ddee6b20035e99ec2398756c9550ce7b80fed7f..05830b59ba8ad1297ace75cafdf2305bf851d0ed 100644
--- a/src/Compilers/CSharp/Portable/Symbols/MemberSignatureComparer.cs
+++ b/src/Compilers/CSharp/Portable/Symbols/MemberSignatureComparer.cs
@@ -243,7 +243,8 @@ internal class MemberSignatureComparer : IEqualityComparer<Symbol>
             considerTypeConstraints: false,     // valid invoke is never generic
             considerCallingConvention: false,   // valid invoke is never static
             considerRefOutDifference: true,
-            considerCustomModifiers: true);
+            considerCustomModifiers: true,
+            ignoreDynamic: false);
 
         // Compare the "unqualified" part of the member name (no explicit part)
         private readonly bool _considerName;
@@ -266,6 +267,9 @@ internal class MemberSignatureComparer : IEqualityComparer<Symbol>
         // Consider custom modifiers on/in parameters and return types (if return is considered).
         private readonly bool _considerCustomModifiers;
 
+        // Ignore Object vs. Dynamic difference 
+        private readonly bool _ignoreDynamic;
+
         private MemberSignatureComparer(
             bool considerName,
             bool considerExplicitlyImplementedInterfaces,
@@ -273,7 +277,8 @@ internal class MemberSignatureComparer : IEqualityComparer<Symbol>
             bool considerTypeConstraints,
             bool considerCallingConvention,
             bool considerRefOutDifference,
-            bool considerCustomModifiers)
+            bool considerCustomModifiers,
+            bool ignoreDynamic = true)
         {
             Debug.Assert(!considerExplicitlyImplementedInterfaces || considerName, "Doesn't make sense to consider interfaces separately from name.");
 
@@ -284,6 +289,7 @@ internal class MemberSignatureComparer : IEqualityComparer<Symbol>
             _considerCallingConvention = considerCallingConvention;
             _considerRefOutDifference = considerRefOutDifference;
             _considerCustomModifiers = considerCustomModifiers;
+            _ignoreDynamic = ignoreDynamic;
         }
 
         #region IEqualityComparer<Symbol> Members
@@ -328,12 +334,13 @@ public bool Equals(Symbol member1, Symbol member2)
             var typeMap1 = GetTypeMap(member1);
             var typeMap2 = GetTypeMap(member2);
 
-            if (_considerReturnType && !HaveSameReturnTypes(member1, typeMap1, member2, typeMap2, _considerCustomModifiers))
+            if (_considerReturnType && !HaveSameReturnTypes(member1, typeMap1, member2, typeMap2, _considerCustomModifiers, _ignoreDynamic))
             {
                 return false;
             }
 
-            if (member1.GetParameterCount() > 0 && !HaveSameParameterTypes(member1.GetParameters(), typeMap1, member2.GetParameters(), typeMap2, _considerRefOutDifference, _considerCustomModifiers))
+            if (member1.GetParameterCount() > 0 && !HaveSameParameterTypes(member1.GetParameters(), typeMap1, member2.GetParameters(), typeMap2, 
+                                                                           _considerRefOutDifference, _considerCustomModifiers, _ignoreDynamic))
             {
                 return false;
             }
@@ -426,10 +433,10 @@ public int GetHashCode(Symbol member)
 
         public static bool HaveSameReturnTypes(MethodSymbol member1, MethodSymbol member2, bool considerCustomModifiers)
         {
-            return HaveSameReturnTypes(member1, GetTypeMap(member1), member2, GetTypeMap(member2), considerCustomModifiers);
+            return HaveSameReturnTypes(member1, GetTypeMap(member1), member2, GetTypeMap(member2), considerCustomModifiers, ignoreDynamic: true);
         }
 
-        private static bool HaveSameReturnTypes(Symbol member1, TypeMap typeMap1, Symbol member2, TypeMap typeMap2, bool considerCustomModifiers)
+        private static bool HaveSameReturnTypes(Symbol member1, TypeMap typeMap1, Symbol member2, TypeMap typeMap2, bool considerCustomModifiers, bool ignoreDynamic)
         {
             TypeSymbol unsubstitutedReturnType1;
             ImmutableArray<CustomModifier> returnTypeCustomModifiers1;
@@ -463,8 +470,8 @@ private static bool HaveSameReturnTypes(Symbol member1, TypeMap typeMap1, Symbol
 
             // the runtime compares custom modifiers using (effectively) SequenceEqual
             return considerCustomModifiers ?
-                returnType1.Equals(returnType2, ignoreDynamic: true) :
-                returnType1.Type.Equals(returnType2.Type, ignoreCustomModifiersAndArraySizesAndLowerBounds: true, ignoreDynamic: true);
+                returnType1.Equals(returnType2, ignoreDynamic: ignoreDynamic) :
+                returnType1.Type.Equals(returnType2.Type, ignoreCustomModifiersAndArraySizesAndLowerBounds: true, ignoreDynamic: ignoreDynamic);
         }
 
         private static TypeMap GetTypeMap(Symbol member)
@@ -588,7 +595,8 @@ private static void SubstituteConstraintTypes(ImmutableArray<TypeSymbol> types,
             }
         }
 
-        private static bool HaveSameParameterTypes(ImmutableArray<ParameterSymbol> params1, TypeMap typeMap1, ImmutableArray<ParameterSymbol> params2, TypeMap typeMap2, bool considerRefOutDifference, bool considerCustomModifiers)
+        private static bool HaveSameParameterTypes(ImmutableArray<ParameterSymbol> params1, TypeMap typeMap1, ImmutableArray<ParameterSymbol> params2, TypeMap typeMap2, 
+                                                   bool considerRefOutDifference, bool considerCustomModifiers, bool ignoreDynamic)
         {
             Debug.Assert(params1.Length == params2.Length);
 
@@ -605,12 +613,12 @@ private static bool HaveSameParameterTypes(ImmutableArray<ParameterSymbol> param
                 // the runtime compares custom modifiers using (effectively) SequenceEqual
                 if (considerCustomModifiers)
                 {
-                    if (!type1.Equals(type2, ignoreDynamic: true) || (param1.CountOfCustomModifiersPrecedingByRef != param2.CountOfCustomModifiersPrecedingByRef))
+                    if (!type1.Equals(type2, ignoreDynamic: ignoreDynamic) || (param1.CountOfCustomModifiersPrecedingByRef != param2.CountOfCustomModifiersPrecedingByRef))
                     {
                         return false;
                     }
                 }
-                else if (!type1.Type.Equals(type2.Type, ignoreCustomModifiersAndArraySizesAndLowerBounds: true, ignoreDynamic: true))
+                else if (!type1.Type.Equals(type2.Type, ignoreCustomModifiersAndArraySizesAndLowerBounds: true, ignoreDynamic: ignoreDynamic))
                 {
                     return false;
                 }
diff --git a/src/Compilers/CSharp/Test/Semantic/Semantics/LambdaTests.cs b/src/Compilers/CSharp/Test/Semantic/Semantics/LambdaTests.cs
index b05477e96342794b0302ab4ab2be716e07f3732a..d556466231a09bde9fac32fd284b4eb324c87c97 100644
--- a/src/Compilers/CSharp/Test/Semantic/Semantics/LambdaTests.cs
+++ b/src/Compilers/CSharp/Test/Semantic/Semantics/LambdaTests.cs
@@ -13,7 +13,7 @@
 
 namespace Microsoft.CodeAnalysis.CSharp.UnitTests
 {
-    public partial class SyntaxBinderTests : CompilingTestBase
+    public partial class LambdaTests : CompilingTestBase
     {
         [Fact, WorkItem(608181, "DevDiv")]
         public void BadInvocationInLambda()
@@ -1320,5 +1320,81 @@ static void Main()
                 //         Expression<Func<int, int>> x = y => y = y;
                 Diagnostic(ErrorCode.ERR_ExpressionTreeContainsAssignment, "y = y").WithLocation(9, 45));
         }
+
+        [Fact, WorkItem(5363, "https://github.com/dotnet/roslyn/issues/5363")]
+        public void ReturnInferenceCache_Dynamic_vs_Object_01()
+        {
+            var source =
+@"
+using System;
+using System.Collections;
+using System.Collections.Generic;
+
+public static class Program
+{
+    public static void Main(string[] args)
+    {
+        IEnumerable<dynamic> dynX = null;
+
+        // CS1061 'object' does not contain a definition for 'Text'...
+        // tooltip on 'var' shows IColumn instead of IEnumerable<dynamic>
+        var result = dynX.Select(_ => _.Text);
+    }
+
+    public static IColumn Select<TResult>(this IColumn source, Func<object, TResult> selector)
+    {
+        throw new NotImplementedException();
+    }
+
+    public static IEnumerable<S> Select<T, S>(this IEnumerable<T> source, Func<T, S> selector)
+    {
+        System.Console.WriteLine(""Select<T, S>"");
+        return null;
+    }
+}
+
+public interface IColumn { }
+";
+            var compilation = CreateCompilationWithMscorlib(source, new[] { SystemCoreRef, CSharpRef }, options: TestOptions.ReleaseExe);
+            CompileAndVerify(compilation, expectedOutput: "Select<T, S>");
+        }
+
+        [Fact, WorkItem(5363, "https://github.com/dotnet/roslyn/issues/5363")]
+        public void ReturnInferenceCache_Dynamic_vs_Object_02()
+        {
+            var source =
+@"
+using System;
+using System.Collections;
+using System.Collections.Generic;
+
+public static class Program
+{
+    public static void Main(string[] args)
+    {
+        IEnumerable<dynamic> dynX = null;
+
+        // CS1061 'object' does not contain a definition for 'Text'...
+        // tooltip on 'var' shows IColumn instead of IEnumerable<dynamic>
+        var result = dynX.Select(_ => _.Text);
+    }
+
+    public static IEnumerable<S> Select<T, S>(this IEnumerable<T> source, Func<T, S> selector)
+    {
+        System.Console.WriteLine(""Select<T, S>"");
+        return null;
+    }
+
+    public static IColumn Select<TResult>(this IColumn source, Func<object, TResult> selector)
+    {
+        throw new NotImplementedException();
+    }
+}
+
+public interface IColumn { }
+";
+            var compilation = CreateCompilationWithMscorlib(source, new[] { SystemCoreRef, CSharpRef }, options: TestOptions.ReleaseExe);
+            CompileAndVerify(compilation, expectedOutput: "Select<T, S>");
+        }
     }
 }