diff --git a/net/devlink/rate.c b/net/devlink/rate.c
index 41be2d6c2954..210e26c6cfa0 100644
--- a/net/devlink/rate.c
+++ b/net/devlink/rate.c
@@ -725,11 +725,6 @@ devl_rate_node_create(struct devlink *devlink, void *priv, char *node_name,
 	if (!rate_node)
 		return ERR_PTR(-ENOMEM);
 
-	if (parent) {
-		rate_node->parent = parent;
-		refcount_inc(&rate_node->parent->refcnt);
-	}
-
 	rate_node->type = DEVLINK_RATE_TYPE_NODE;
 	rate_node->devlink = devlink;
 	rate_node->priv = priv;
@@ -740,6 +735,11 @@ devl_rate_node_create(struct devlink *devlink, void *priv, char *node_name,
 		return ERR_PTR(-ENOMEM);
 	}
 
+	if (parent) {
+		rate_node->parent = parent;
+		refcount_inc(&rate_node->parent->refcnt);
+	}
+
 	refcount_set(&rate_node->refcnt, 1);
 	list_add(&rate_node->list, &devlink->rate_list);
 	devlink_rate_notify(rate_node, DEVLINK_CMD_RATE_NEW);