diff --git a/drivers/net/hyperv/netvsc_drv.c b/drivers/net/hyperv/netvsc_drv.c
index b9061521e350..0285894c892a 100644
--- a/drivers/net/hyperv/netvsc_drv.c
+++ b/drivers/net/hyperv/netvsc_drv.c
@@ -2204,9 +2204,6 @@ static int netvsc_vf_join(struct net_device *vf_netdev,
 		goto upper_link_failed;
 	}
 
-	/* set slave flag before open to prevent IPv6 addrconf */
-	vf_netdev->flags |= IFF_SLAVE;
-
 	schedule_delayed_work(&ndev_ctx->vf_takeover, VF_TAKEOVER_INT);
 
 	call_netdevice_notifiers(NETDEV_JOIN, vf_netdev);
@@ -2313,16 +2310,18 @@ static struct net_device *get_netvsc_byslot(const struct net_device *vf_netdev)
 
 	}
 
-	/* Fallback path to check synthetic vf with
-	 * help of mac addr
+	/* Fallback path to check synthetic vf with help of mac addr.
+	 * Because this function can be called before vf_netdev is
+	 * initialized (NETDEV_POST_INIT) when its perm_addr has not been copied
+	 * from dev_addr, also try to match to its dev_addr.
+	 * Note: On Hyper-V and Azure, it's not possible to set a MAC address
+	 * on a VF that matches to the MAC of a unrelated NETVSC device.
 	 */
 	list_for_each_entry(ndev_ctx, &netvsc_dev_list, list) {
 		ndev = hv_get_drvdata(ndev_ctx->device_ctx);
-		if (ether_addr_equal(vf_netdev->perm_addr, ndev->perm_addr)) {
-			netdev_notice(vf_netdev,
-				      "falling back to mac addr based matching\n");
+		if (ether_addr_equal(vf_netdev->perm_addr, ndev->perm_addr) ||
+		    ether_addr_equal(vf_netdev->dev_addr, ndev->perm_addr))
 			return ndev;
-		}
 	}
 
 	netdev_notice(vf_netdev,
@@ -2330,6 +2329,19 @@ static struct net_device *get_netvsc_byslot(const struct net_device *vf_netdev)
 	return NULL;
 }
 
+static int netvsc_prepare_bonding(struct net_device *vf_netdev)
+{
+	struct net_device *ndev;
+
+	ndev = get_netvsc_byslot(vf_netdev);
+	if (!ndev)
+		return NOTIFY_DONE;
+
+	/* set slave flag before open to prevent IPv6 addrconf */
+	vf_netdev->flags |= IFF_SLAVE;
+	return NOTIFY_DONE;
+}
+
 static int netvsc_register_vf(struct net_device *vf_netdev)
 {
 	struct net_device_context *net_device_ctx;
@@ -2754,6 +2766,8 @@ static int netvsc_netdev_event(struct notifier_block *this,
 		return NOTIFY_DONE;
 
 	switch (event) {
+	case NETDEV_POST_INIT:
+		return netvsc_prepare_bonding(event_dev);
 	case NETDEV_REGISTER:
 		return netvsc_register_vf(event_dev);
 	case NETDEV_UNREGISTER: