diff --git a/fs/nfsd/nfssvc.c b/fs/nfsd/nfssvc.c
index b08ae85d53ef..00c6a0c96885 100644
--- a/fs/nfsd/nfssvc.c
+++ b/fs/nfsd/nfssvc.c
@@ -406,8 +406,10 @@ static void nfsd_shutdown_net(struct net *net)
 {
 	struct nfsd_net *nn = net_generic(net, nfsd_net_id);
 
-	if (!nn->nfsd_net_up)
+	if (!nn->nfsd_net_up) {
+		percpu_ref_exit(&nn->nfsd_net_ref);
 		return;
+	}
 
 	percpu_ref_kill_and_confirm(&nn->nfsd_net_ref, nfsd_net_done);
 	wait_for_completion(&nn->nfsd_net_confirm_done);