diff --git a/mypy_django_plugin/lib/helpers.py b/mypy_django_plugin/lib/helpers.py
index cea674d4d..7758f5aba 100644
--- a/mypy_django_plugin/lib/helpers.py
+++ b/mypy_django_plugin/lib/helpers.py
@@ -526,6 +526,10 @@ def is_model_type(info: TypeInfo) -> bool:
     return info.metaclass_type is not None and info.metaclass_type.type.has_base(fullnames.MODEL_METACLASS_FULLNAME)
 
 
+def is_registered_model_type(info: TypeInfo, django_context: "DjangoContext") -> bool:
+    return info.fullname in {get_class_fullname(cls) for cls in django_context.all_registered_model_classes}
+
+
 def get_model_from_expression(
     expr: Expression,
     *,
diff --git a/mypy_django_plugin/transformers/fields.py b/mypy_django_plugin/transformers/fields.py
index f2bd21009..ae5f2efeb 100644
--- a/mypy_django_plugin/transformers/fields.py
+++ b/mypy_django_plugin/transformers/fields.py
@@ -237,7 +237,10 @@ def transform_into_proper_return_type(ctx: FunctionContext, django_context: Djan
     assert isinstance(default_return_type, Instance)
 
     outer_model_info = helpers.get_typechecker_api(ctx).scope.active_class()
-    if outer_model_info is None or not helpers.is_model_type(outer_model_info):
+    if outer_model_info is None or (
+        not helpers.is_model_type(outer_model_info)
+        and not helpers.is_registered_model_type(outer_model_info, django_context)
+    ):
         return ctx.default_return_type
 
     assert isinstance(outer_model_info, TypeInfo)
diff --git a/tests/typecheck/models/test_3rd_party_models.yml b/tests/typecheck/models/test_3rd_party_models.yml
index 9a6636575..e7a23ef09 100644
--- a/tests/typecheck/models/test_3rd_party_models.yml
+++ b/tests/typecheck/models/test_3rd_party_models.yml
@@ -1,8 +1,15 @@
 -   case: handles_type_annotations_on_3rd_party_models
+    installed_apps:
+        - django_extensions
+        - myapp
     main: |
-        from django.db import models
-        from django_extensions.db.models import TimeStampedModel # type: ignore [import-untyped]
+        from myapp.models import A
+    files:
+        -   path: myapp/__init__.py
+        -   path: myapp/models.py
+            content: |
+                from django.db import models
+                from django_extensions.db.models import TimeStampedModel # type: ignore[import-untyped]
 
-        class A(TimeStampedModel):
-            name = models.CharField()
-            count = models.IntegerField()
+                class A(TimeStampedModel):
+                    name = models.CharField()