diff --git a/mypy_django_plugin/transformers/models.py b/mypy_django_plugin/transformers/models.py
index 54c1469..9c72e42 100644
--- a/mypy_django_plugin/transformers/models.py
+++ b/mypy_django_plugin/transformers/models.py
@@ -121,7 +121,7 @@ class AddManagers(ModelClassInitializer):
                 manager_type = Instance(manager_info, [Instance(self.model_classdef.info, [])])
                 self.add_new_node_to_model_class(manager_name, manager_type)
             else:
-                # create new MODELNAME_MANAGERCLASSNAME class that represents manager parametrized with current model
+                # creates new MODELNAME_MANAGERCLASSNAME class that represents manager parametrized with current model
                 has_manager_any_base = any(self._is_manager_any(base) for base in manager_info.bases)
                 if has_manager_any_base:
                     custom_model_manager_name = manager.model.__name__ + '_' + manager.__class__.__name__
@@ -129,8 +129,8 @@ class AddManagers(ModelClassInitializer):
                     for original_base in manager_info.bases:
                         if self._is_manager_any(original_base):
                             if original_base.type is None:
-                                if not self.api.final_iteration:
-                                    self.api.defer()
+                                raise helpers.IncompleteDefnException()
+
                             original_base = helpers.reparametrize_instance(original_base,
                                                                            [Instance(self.model_classdef.info, [])])
                         bases.append(original_base)
@@ -142,6 +142,9 @@ class AddManagers(ModelClassInitializer):
                     custom_manager_type = Instance(custom_manager_info, [Instance(self.model_classdef.info, [])])
                     self.add_new_node_to_model_class(manager_name, custom_manager_type)
 
+
+class AddDefaultManagerAttribute(ModelClassInitializer):
+    def run_with_model_cls(self, model_cls: Type[Model]) -> None:
         # add _default_manager
         if '_default_manager' not in self.model_classdef.info.names:
             default_manager_fullname = helpers.get_class_fullname(model_cls._meta.default_manager.__class__)
@@ -149,6 +152,9 @@ class AddManagers(ModelClassInitializer):
             default_manager = Instance(default_manager_info, [Instance(self.model_classdef.info, [])])
             self.add_new_node_to_model_class('_default_manager', default_manager)
 
+
+class AddRelatedManagers(ModelClassInitializer):
+    def run_with_model_cls(self, model_cls: Type[Model]) -> None:
         # add related managers
         for relation in self.django_context.get_model_relations(model_cls):
             attname = relation.get_accessor_name()
@@ -231,6 +237,8 @@ def process_model_class(ctx: ClassDefContext,
         AddDefaultPrimaryKey,
         AddRelatedModelsId,
         AddManagers,
+        AddDefaultManagerAttribute,
+        AddRelatedManagers,
         AddExtraFieldMethods,
         AddMetaOptionsAttribute,
         RecordAllModelMixins,
diff --git a/test-data/typecheck/fields/test_related.yml b/test-data/typecheck/fields/test_related.yml
index 1c8dd60..5f323c8 100644
--- a/test-data/typecheck/fields/test_related.yml
+++ b/test-data/typecheck/fields/test_related.yml
@@ -571,4 +571,26 @@
                 class Book(LibraryEntity):
                     pass
                 class Article(LibraryEntity):
-                    pass
\ No newline at end of file
+                    pass
+
+
+-   case: foreign_key_relationship_for_models_with_custom_manager
+    main: |
+        from myapp.models import Transaction
+    installed_apps:
+        - myapp
+    files:
+        -   path: myapp/__init__.py
+        -   path: myapp/models.py
+            content: |
+                from django.db import models
+                class TransactionQuerySet(models.QuerySet):
+                    pass
+                class Transaction(models.Model):
+                    objects = TransactionQuerySet.as_manager()
+                    def test(self) -> None:
+                        self.transactionlog_set
+                class TransactionLog(models.Model):
+                    transaction = models.ForeignKey(Transaction, on_delete=models.CASCADE)
+
+                Transaction().test()
\ No newline at end of file