diff --git a/exir/serde/serialize.py b/exir/serde/serialize.py
index 2df4ba79876..d9cd9a700a7 100644
--- a/exir/serde/serialize.py
+++ b/exir/serde/serialize.py
@@ -22,6 +22,7 @@
 import torch
 import torch.export.exported_program as ep
 from executorch.exir import delegate
+from executorch.exir._serialize._cord import FileBackedData
 from executorch.exir._serialize._named_data_store import NamedDataStoreOutput
 from executorch.exir.backend.backend_details import DelegateScratchSpec
 from executorch.exir.backend.compile_spec_schema import (
@@ -48,6 +49,14 @@
 log: logging.Logger = logging.getLogger(__name__)
 
 
+class _NamedDataEncoder(export_serialize.EnumEncoder):
+    # Read each file only when it is encoded, so its raw bytes are freed right after.
+    def default(self, obj):
+        if isinstance(obj, FileBackedData):
+            obj = obj.to_bytes()
+        return super().default(obj)
+
+
 class GraphModuleSerializer(export_serialize.GraphModuleSerializer):
     def __init__(
         self,
@@ -291,7 +300,7 @@ def serialize_bytes(b: bytes) -> str:
         assert isinstance(serialized_artifact.exported_program, schema.ExportedProgram)
 
         serialized_processed_bytes = serialize_bytes(lowered_module.processed_bytes)
-        named_data_store = json.dumps(export_serialize._dataclass_to_dict(lowered_module.named_data_store_output),cls=export_serialize.EnumEncoder) if lowered_module.named_data_store_output else None
+        named_data_store = json.dumps(export_serialize._dataclass_to_dict(lowered_module.named_data_store_output),cls=_NamedDataEncoder) if lowered_module.named_data_store_output else None
 
         serialized_lowered_module = SerdeLoweredBackendModule(
             original_module=serialized_artifact.exported_program,
diff --git a/exir/tests/targets.bzl b/exir/tests/targets.bzl
index d8f21020d2a..ff161d755e6 100644
--- a/exir/tests/targets.bzl
+++ b/exir/tests/targets.bzl
@@ -80,6 +80,7 @@ def define_common_targets(is_fbcode = False):
             "//executorch/exir:lib",
             "//executorch/exir/backend:backend_api",
             "//executorch/exir/backend/test:backend_with_compiler_demo",
+            "//executorch/exir/backend/test:backend_with_named_data_map",
             "//executorch/exir/backend/test:op_partitioner_demo",
             "//executorch/exir/serde:serialize",
             "//executorch/backends/xnnpack/partition:xnnpack_partitioner",
diff --git a/exir/tests/test_serde.py b/exir/tests/test_serde.py
index 6696b95fd31..2a159c704f8 100644
--- a/exir/tests/test_serde.py
+++ b/exir/tests/test_serde.py
@@ -7,6 +7,7 @@
 # pyre-strict
 
 import io
+import os
 import tempfile
 import unittest
 from contextlib import contextmanager
@@ -19,12 +20,17 @@
     XnnpackFloatingPointPartitioner,
 )
 from executorch.exir import to_edge
+from executorch.exir._serialize._cord import FileBackedData
 from executorch.exir.backend.backend_api import CompileSpec, to_backend
 from executorch.exir.backend.test.backend_with_compiler_demo import (
     BackendWithCompilerDemo,
 )
+from executorch.exir.backend.test.backend_with_named_data_map import (
+    BackendWithNDMPartitioner,
+)
 
 from executorch.exir.backend.test.op_partitioner_demo import AddMulPartitionerDemo
+from executorch.exir.lowered_backend_module import get_lowered_submodules
 from executorch.exir.program._program import (
     EdgeProgramManager,
     to_edge_transform_and_lower,
@@ -246,6 +252,44 @@ def forward(self, a, x, b):
         edge_new = deserialize(serialize(edge.exported_program()))
         self.check_ep(edge.exported_program(), edge_new, inputs)
 
+    def test_delegate_with_file_backed_named_data(self) -> None:
+        class Model(nn.Module):
+            def forward(self, x):
+                return (x + x) - x
+
+        edge = to_edge(export(Model(), (torch.randn(1, 2),), strict=True)).to_backend(
+            BackendWithNDMPartitioner()
+        )
+        graph_module = edge.exported_program().graph_module
+        (_, lowered, _) = get_lowered_submodules(graph_module)[0]
+        output = lowered.named_data_store_output
+        assert output is not None
+        payload = bytes(range(256))
+        output.buffers[1] = payload
+        other = output.buffers[0]
+        expected = serialize(edge.exported_program()).exported_program
+        with tempfile.TemporaryDirectory() as directory:
+            path = os.path.join(directory, "data.bin")
+            with open(path, "wb") as f:
+                f.write(payload)
+            data = FileBackedData.move_from(path)
+            output.buffers[1] = data
+
+            serialized = serialize(edge.exported_program()).exported_program
+            self.assertEqual(serialized, expected)
+            buffer = io.BytesIO()
+            exir.save(edge.exported_program(), buffer)
+            self.assertIs(lowered.named_data_store_output, output)
+            self.assertIs(output.buffers[1], data)
+            self.assertEqual(data.to_bytes(), payload)
+
+        buffer.seek(0)
+        loaded = exir.load(buffer)
+        (_, loaded_lowered, _) = get_lowered_submodules(loaded.graph_module)[0]
+        loaded_output = loaded_lowered.named_data_store_output
+        assert loaded_output is not None
+        self.assertEqual(loaded_output.buffers, [other, payload])
+
     def test_delegate_xnnpack(self) -> None:
         class SimpleConv1DModel(nn.Module):
             def __init__(self):