diff --git a/pkg/sql/conn_executor.go b/pkg/sql/conn_executor.go
index c19f82bc8ba3..9582595ca9cc 100644
--- a/pkg/sql/conn_executor.go
+++ b/pkg/sql/conn_executor.go
@@ -746,14 +746,20 @@ func (h ConnectionHandler) GetQueryCancelKey() pgwirecancel.BackendKeyData {
 // embedded in the ConnHandler.
 //
 // If not nil, reserved represents memory reserved for the connection. The
-// connExecutor takes ownership of this memory.
+// connExecutor takes ownership of this memory and will close the account before
+// exiting.
 func (s *Server) ServeConn(
 	ctx context.Context, h ConnectionHandler, reserved *mon.BoundAccount, cancel context.CancelFunc,
 ) error {
-	defer func() {
+	// Make sure to close the reserved account even if closeWrapper below
+	// panics: so we do it in a defer that is guaranteed to execute. We also
+	// cannot close it before closeWrapper since we need to close the internal
+	// monitors of the connExecutor first.
+	defer reserved.Close(ctx)
+	defer func(ctx context.Context, h ConnectionHandler) {
 		r := recover()
 		h.ex.closeWrapper(ctx, r)
-	}()
+	}(ctx, h)
 	return h.ex.run(ctx, s.pool, reserved, cancel)
 }
 
diff --git a/pkg/sql/pgwire/conn.go b/pkg/sql/pgwire/conn.go
index 65744505e859..3b9f7e551349 100644
--- a/pkg/sql/pgwire/conn.go
+++ b/pkg/sql/pgwire/conn.go
@@ -368,6 +368,7 @@ func (c *conn) serveImpl(
 	} else {
 		// sqlServer == nil means we are in a local test. In this case
 		// we only need the minimum to make pgx happy.
+		defer reserved.Close(ctx)
 		var err error
 		for param, value := range testingStatusReportParams {
 			err = c.sendParamStatus(param, value)
@@ -376,7 +377,6 @@ func (c *conn) serveImpl(
 			}
 		}
 		if err != nil {
-			reserved.Close(ctx)
 			return
 		}
 		var ac AuthConn = authPipe
@@ -387,7 +387,6 @@ func (c *conn) serveImpl(
 		procCh = dummyCh
 
 		if err := c.sendReadyForQuery(0 /* queryCancelKey */); err != nil {
-			reserved.Close(ctx)
 			return
 		}
 	}
@@ -621,7 +620,8 @@ func (c *conn) serveImpl(
 // Args:
 // ac: An interface used by the authentication process to receive password data
 //   and to ultimately declare the authentication successful.
-// reserved: Reserved memory. This method takes ownership.
+// reserved: Reserved memory. This method takes ownership and guarantees that it
+//   will be closed when this function returns.
 // cancelConn: A function to be called when this goroutine exits. Its goal is to
 //   cancel the connection's context, thus stopping the connection's goroutine.
 //   The returned channel is also closed before this goroutine dies, but the