diff --git a/src/uct/ib/base/ib_md.c b/src/uct/ib/base/ib_md.c
index 37e3940a12e..67b87f1fd8b 100644
--- a/src/uct/ib/base/ib_md.c
+++ b/src/uct/ib/base/ib_md.c
@@ -1038,8 +1038,17 @@ static ucs_status_t uct_ib_rkey_unpack(uct_md_component_t *mdc,
                                        void **handle_p)
 {
     uint64_t packed_rkey = *(const uint64_t*)rkey_buffer;
+    uct_ib_md_rkey_t *rkey;
 
-    *rkey_p   = packed_rkey;
+    rkey = malloc(sizeof(*rkey));
+    if (rkey == NULL) {
+        return UCS_ERR_NO_MEMORY;
+    }
+
+    rkey->rma_rkey    = (uint32_t)packed_rkey;
+    rkey->atomic_rkey = packed_rkey >> 32;
+
+    *rkey_p   = (uct_rkey_t)rkey;
     *handle_p = NULL;
     ucs_trace("unpacked rkey 0x%llx: direct 0x%x indirect 0x%x",
               (unsigned long long)packed_rkey,
@@ -1047,6 +1056,13 @@ static ucs_status_t uct_ib_rkey_unpack(uct_md_component_t *mdc,
     return UCS_OK;
 }
 
+static ucs_status_t uct_ib_rkey_release(uct_md_component_t *mdc, uct_rkey_t rkey,
+                                        void *handle)
+{
+    free((void*)rkey);
+    return UCS_OK;
+}
+
 static uct_md_ops_t uct_ib_md_ops = {
     .close             = uct_ib_md_close,
     .query             = uct_ib_md_query,
@@ -1796,6 +1812,5 @@ UCT_IB_MD_OPS(uct_ib_verbs_md_ops, 0);
 
 UCT_MD_COMPONENT_DEFINE(uct_ib_mdc, UCT_IB_MD_PREFIX,
                         uct_ib_query_md_resources, uct_ib_md_open, NULL,
-                        uct_ib_rkey_unpack,
-                        (void*)ucs_empty_function_return_success /* release */,
+                        uct_ib_rkey_unpack, uct_ib_rkey_release,
                         "IB_", uct_ib_md_config_table, uct_ib_md_config_t);
diff --git a/src/uct/ib/base/ib_md.h b/src/uct/ib/base/ib_md.h
index 245ce94b756..37ef3b951e0 100644
--- a/src/uct/ib/base/ib_md.h
+++ b/src/uct/ib/base/ib_md.h
@@ -42,6 +42,12 @@ enum {
 };
 
 
+typedef struct uct_ib_md_rkey {
+    uint32_t atomic_rkey;
+    uint32_t rma_rkey;
+} uct_ib_md_rkey_t;
+
+
 typedef struct uct_ib_md_ext_config {
     int                      eth_pause;    /**< Whether or not Pause Frame is
                                                 enabled on the Ethernet network */
@@ -188,13 +194,15 @@ uint8_t uct_ib_md_get_atomic_mr_id(uct_ib_md_t *md);
 
 static inline uint32_t uct_ib_md_direct_rkey(uct_rkey_t uct_rkey)
 {
-    return (uint32_t)uct_rkey;
+    return (uct_rkey && (uct_rkey != UCT_INVALID_RKEY)) ?
+           ((uct_ib_md_rkey_t*)uct_rkey)->rma_rkey : 0;
 }
 
 
 static uint32_t uct_ib_md_indirect_rkey(uct_rkey_t uct_rkey)
 {
-    return uct_rkey >> 32;
+    return (uct_rkey && (uct_rkey != UCT_INVALID_RKEY)) ?
+           ((uct_ib_md_rkey_t*)uct_rkey)->atomic_rkey : 0;
 }