diff --git a/chronos/asyncfutures2.nim b/chronos/asyncfutures2.nim
index ee6e8e0..9674888 100644
--- a/chronos/asyncfutures2.nim
+++ b/chronos/asyncfutures2.nim
@@ -311,57 +311,30 @@ proc internalContinue(fut: pointer) {.raises: [], gcsafe.} =
 proc futureContinue*(fut: FutureBase) {.raises: [], gcsafe.} =
   # This function is responsible for calling the closure iterator generated by
   # the `{.async.}` transformation either until it has completed its iteration
-  # or raised and error / been cancelled.
   #
   # Every call to an `{.async.}` proc is redirected to call this function
   # instead with its original body captured in `fut.closure`.
-  var next: FutureBase
-  template iterate =
-    while true:
-      # Call closure to make progress on `fut` until it reaches `yield` (inside
-      # `await` typically) or completes / fails / is cancelled
-      next = fut.internalClosure(fut)
-      if fut.internalClosure.finished(): # Reached the end of the transformed proc
-        break
+  while true:
+    # Call closure to make progress on `fut` until it reaches `yield` (inside
+    # `await` typically) or completes / fails / is cancelled
+    let next: FutureBase = fut.internalClosure(fut)
+    if fut.internalClosure.finished(): # Reached the end of the transformed proc
+      break
 
-      if next == nil:
-        raiseAssert "Async procedure (" & ($fut.location[LocationKind.Create]) &
-                    ") yielded `nil`, are you await'ing a `nil` Future?"
+    if next == nil:
+      raiseAssert "Async procedure (" & ($fut.location[LocationKind.Create]) &
+                  ") yielded `nil`, are you await'ing a `nil` Future?"
 
-      if not next.finished():
-        # We cannot make progress on `fut` until `next` has finished - schedule
-        # `fut` to continue running when that happens
-        GC_ref(fut)
-        next.addCallback(CallbackFunc(internalContinue), cast[pointer](fut))
+    if not next.finished():
+      # We cannot make progress on `fut` until `next` has finished - schedule
+      # `fut` to continue running when that happens
+      GC_ref(fut)
+      next.addCallback(CallbackFunc(internalContinue), cast[pointer](fut))
 
-        # return here so that we don't remove the closure below
-        return
+      # return here so that we don't remove the closure below
+      return
 
-      # Continue while the yielded future is already finished.
-
-  when chronosStrictException:
-    try:
-      iterate
-    except CancelledError:
-      fut.cancelAndSchedule()
-    except CatchableError as exc:
-      fut.fail(exc)
-    finally:
-      next = nil # GC hygiene
-  else:
-    try:
-      iterate
-    except CancelledError:
-      fut.cancelAndSchedule()
-    except CatchableError as exc:
-      fut.fail(exc)
-    except Exception as exc:
-      if exc of Defect:
-        raise (ref Defect)(exc)
-
-      fut.fail((ref ValueError)(msg: exc.msg, parent: exc))
-    finally:
-      next = nil # GC hygiene
+    # Continue while the yielded future is already finished.
 
   # `futureContinue` will not be called any more for this future so we can
   # clean it up
diff --git a/chronos/asyncmacro2.nim b/chronos/asyncmacro2.nim
index a86147c..d059404 100644
--- a/chronos/asyncmacro2.nim
+++ b/chronos/asyncmacro2.nim
@@ -9,60 +9,14 @@
 
 import std/[macros]
 
-# `quote do` will ruin line numbers so we avoid it using these helpers
-proc completeWithResult(fut, baseType: NimNode): NimNode {.compileTime.} =
-  # when `baseType` is void:
-  #   complete(`fut`)
-  # else:
-  #   complete(`fut`, result)
-  if baseType.eqIdent("void"):
-    # Shortcut if we know baseType at macro expansion time
-    newCall(ident "complete", fut)
-  else:
-    # `baseType` might be generic and resolve to `void`
-    nnkWhenStmt.newTree(
-      nnkElifExpr.newTree(
-        nnkInfix.newTree(ident "is", baseType, ident "void"),
-        newCall(ident "complete", fut)
-      ),
-      nnkElseExpr.newTree(
-        newCall(ident "complete", fut, ident "result")
-      )
-    )
-
-proc completeWithNode(fut, baseType, node: NimNode): NimNode {.compileTime.} =
-  #   when typeof(`node`) is void:
-  #     `node` # statement / explicit return
-  #     -> completeWithResult(fut, baseType)
-  #   else: # expression / implicit return
-  #     complete(`fut`, `node`)
-  if node.kind == nnkEmpty: # shortcut when known at macro expanstion time
-    completeWithResult(fut, baseType)
-  else:
-    # Handle both expressions and statements - since the type is not know at
-    # macro expansion time, we delegate this choice to a later compilation stage
-    # with `when`.
-    nnkWhenStmt.newTree(
-      nnkElifExpr.newTree(
-        nnkInfix.newTree(
-          ident "is", nnkTypeOfExpr.newTree(node), ident "void"),
-        newStmtList(
-          node,
-          completeWithResult(fut, baseType)
-        )
-      ),
-      nnkElseExpr.newTree(
-        newCall(ident "complete", fut, node)
-      )
-    )
-
-proc processBody(node, fut, baseType: NimNode): NimNode {.compileTime.} =
+proc processBody(node, setResultSym, baseType: NimNode): NimNode {.compileTime.} =
   #echo(node.treeRepr)
   case node.kind
   of nnkReturnStmt:
     let
       res = newNimNode(nnkStmtList, node)
-    res.add completeWithNode(fut, baseType, processBody(node[0], fut, baseType))
+    if node[0].kind != nnkEmpty:
+      res.add newCall(setResultSym, processBody(node[0], setResultSym, baseType))
     res.add newNimNode(nnkReturnStmt, node).add(newNilLit())
 
     res
@@ -71,12 +25,89 @@ proc processBody(node, fut, baseType: NimNode): NimNode {.compileTime.} =
     node
   else:
     for i in 0 ..< node.len:
-      # We must not transform nested procedures of any form, otherwise
-      # `fut` will be used for all nested procedures as their own
-      # `retFuture`.
-      node[i] = processBody(node[i], fut, baseType)
+      # We must not transform nested procedures of any form, since their
+      # returns are not meant for our futures
+      node[i] = processBody(node[i], setResultSym, baseType)
     node
 
+proc wrapInTryFinally(fut, baseType, body: NimNode): NimNode {.compileTime.} =
+  # creates:
+  # var closureSucceeded = true
+  # try: `body`
+  # except CancelledError: closureSucceeded = false; `castFutureSym`.cancelAndSchedule()
+  # except CatchableError as exc: closureSucceeded = false; `castFutureSym`.fail(exc)
+  # except Defect as exc:
+  #   closureSucceeded = false
+  #   raise exc
+  # finally:
+  #   if closureSucceeded:
+  #     `castFutureSym`.complete(result)
+
+  # we are completing inside finally to make sure the completion happens even
+  # after a `return`
+  let closureSucceeded = genSym(nskVar, "closureSucceeded")
+  var nTry = nnkTryStmt.newTree(body)
+  nTry.add nnkExceptBranch.newTree(
+            ident"CancelledError",
+            nnkStmtList.newTree(
+              nnkAsgn.newTree(closureSucceeded, ident"false"),
+              newCall(ident "cancelAndSchedule", fut)
+            )
+          )
+
+  nTry.add nnkExceptBranch.newTree(
+            nnkInfix.newTree(ident"as", ident"CatchableError", ident"exc"),
+            nnkStmtList.newTree(
+              nnkAsgn.newTree(closureSucceeded, ident"false"),
+              newCall(ident "fail", fut, ident"exc")
+            )
+          )
+
+  nTry.add nnkExceptBranch.newTree(
+            nnkInfix.newTree(ident"as", ident"Defect", ident"exc"),
+            nnkStmtList.newTree(
+              nnkAsgn.newTree(closureSucceeded, ident"false"),
+              nnkRaiseStmt.newTree(ident"exc")
+            )
+          )
+
+  when not chronosStrictException:
+    # adds
+    # except Exception as exc:
+    #   closureSucceeded = false
+    #   fut.fail((ref ValueError)(msg: exc.msg, parent: exc))
+    let excName = ident"exc"
+
+    nTry.add nnkExceptBranch.newTree(
+              nnkInfix.newTree(ident"as", ident"Exception", ident"exc"),
+              nnkStmtList.newTree(
+                nnkAsgn.newTree(closureSucceeded, ident"false"),
+                newCall(ident "fail", fut,
+                  quote do: (ref ValueError)(msg: `excName`.msg, parent: `excName`)),
+              )
+            )
+
+  nTry.add nnkFinally.newTree(
+            nnkIfStmt.newTree(
+              nnkElifBranch.newTree(
+                closureSucceeded,
+                nnkWhenStmt.newTree(
+                  nnkElifExpr.newTree(
+                    nnkInfix.newTree(ident "is", baseType, ident "void"),
+                    newCall(ident "complete", fut)
+                  ),
+                  nnkElseExpr.newTree(
+                    newCall(ident "complete", fut, ident "result")
+                  )
+                )
+              )
+            )
+          )
+  return nnkStmtList.newTree(
+      newVarStmt(closureSucceeded, ident"true"),
+      nTry
+  )
+
 proc getName(node: NimNode): string {.compileTime.} =
   case node.kind
   of nnkSym:
@@ -153,8 +184,9 @@ proc asyncSingleProc(prc: NimNode): NimNode {.compileTime.} =
         if baseTypeIsVoid: futureVoidType
         else: returnType
       castFutureSym = nnkCast.newTree(internalFutureType, internalFutureSym)
+      setResultSym = ident"setResult"
 
-      procBody = prc.body.processBody(castFutureSym, baseType)
+      procBody = prc.body.processBody(setResultSym, baseType)
 
     # don't do anything with forward bodies (empty)
     if procBody.kind != nnkEmpty:
@@ -199,9 +231,44 @@ proc asyncSingleProc(prc: NimNode): NimNode {.compileTime.} =
           )
         )
 
-        completeDecl = completeWithNode(castFutureSym, baseType, procBodyBlck)
+        # generates:
+        # template `setResultSym`(code: untyped) {.used.} =
+        #   when typeof(code) is void: code
+        #   else: result = code
+        #
+        # this is useful to handle implicit returns, but also
+        # to bind the `result` to the one we declare here
+        setResultDecl =
+          nnkTemplateDef.newTree(
+            setResultSym,
+            newEmptyNode(), newEmptyNode(),
+            nnkFormalParams.newTree(
+              newEmptyNode(),
+              nnkIdentDefs.newTree(
+                ident"code",
+                ident"untyped",
+                newEmptyNode(),
+              )
+            ),
+            nnkPragma.newTree(ident"used"),
+            newEmptyNode(),
+            nnkWhenStmt.newTree(
+              nnkElifBranch.newTree(
+                nnkInfix.newTree(ident"is", nnkTypeOfExpr.newTree(ident"code"), ident"void"),
+                ident"code"
+              ),
+              nnkElse.newTree(
+                newAssignment(ident"result", ident"code")
+              )
+            )
+          )
 
-        closureBody = newStmtList(resultDecl, completeDecl)
+        completeDecl = wrapInTryFinally(
+          castFutureSym, baseType,
+          newCall(setResultSym, procBodyBlck)
+        )
+
+        closureBody = newStmtList(resultDecl, setResultDecl, completeDecl)
 
         internalFutureParameter = nnkIdentDefs.newTree(
           internalFutureSym, newIdentNode("FutureBase"), newEmptyNode())
@@ -225,10 +292,6 @@ proc asyncSingleProc(prc: NimNode): NimNode {.compileTime.} =
       #      here the possibility of transporting more specific error types here
       #      for example by casting exceptions coming out of `await`..
       let raises = nnkBracket.newTree()
-      when chronosStrictException:
-        raises.add(newIdentNode("CatchableError"))
-      else:
-        raises.add(newIdentNode("Exception"))
 
       closureIterator.addPragma(nnkExprColonExpr.newTree(
         newIdentNode("raises"),
diff --git a/chronos/futures.nim b/chronos/futures.nim
index 5f96867..0af635f 100644
--- a/chronos/futures.nim
+++ b/chronos/futures.nim
@@ -17,11 +17,6 @@ export srcloc
 when chronosStackTrace:
   type StackTrace = string
 
-when chronosStrictException:
-  {.pragma: closureIter, raises: [CatchableError], gcsafe.}
-else:
-  {.pragma: closureIter, raises: [Exception], gcsafe.}
-
 type
   LocationKind* {.pure.} = enum
     Create
@@ -54,7 +49,7 @@ type
     internalState*: FutureState
     internalFlags*: FutureFlags
     internalError*: ref CatchableError ## Stored exception
-    internalClosure*: iterator(f: FutureBase): FutureBase {.closureIter.}
+    internalClosure*: iterator(f: FutureBase): FutureBase {.raises: [], gcsafe.}
 
     when chronosFutureId:
       internalId*: uint
diff --git a/tests/testmacro.nim b/tests/testmacro.nim
index ad4c22f..bd53078 100644
--- a/tests/testmacro.nim
+++ b/tests/testmacro.nim
@@ -94,6 +94,11 @@ proc testAwaitne(): Future[bool] {.async.} =
 
   return true
 
+template returner =
+  # can't use `return 5`
+  result = 5
+  return
+
 suite "Macro transformations test suite":
   test "`await` command test":
     check waitFor(testAwait()) == true
@@ -136,6 +141,131 @@ suite "Macro transformations test suite":
     check:
       waitFor(gen(int)) == default(int)
 
+  test "Nested return":
+    proc nr: Future[int] {.async.} =
+      return
+        if 1 == 1:
+          return 42
+        else:
+          33
+
+    check waitFor(nr()) == 42
+
+suite "Macro transformations - completions":
+  test "Run closure to completion on return": # issue #415
+    var x = 0
+    proc test415 {.async.} =
+      try:
+        return
+      finally:
+        await sleepAsync(1.milliseconds)
+        x = 5
+    waitFor(test415())
+    check: x == 5
+
+  test "Run closure to completion on defer":
+    var x = 0
+    proc testDefer {.async.} =
+      defer:
+        await sleepAsync(1.milliseconds)
+        x = 5
+      return
+    waitFor(testDefer())
+    check: x == 5
+
+  test "Run closure to completion with exceptions":
+    var x = 0
+    proc testExceptionHandling {.async.} =
+      try:
+        return
+      finally:
+        try:
+          await sleepAsync(1.milliseconds)
+          raise newException(ValueError, "")
+        except ValueError:
+          await sleepAsync(1.milliseconds)
+        await sleepAsync(1.milliseconds)
+        x = 5
+    waitFor(testExceptionHandling())
+    check: x == 5
+
+  test "Correct return value when updating result after return":
+    proc testWeirdCase: int =
+      try: return 33
+      finally: result = 55
+    proc testWeirdCaseAsync: Future[int] {.async.} =
+      try:
+        await sleepAsync(1.milliseconds)
+        return 33
+      finally: result = 55
+
+    check:
+        testWeirdCase() == waitFor(testWeirdCaseAsync())
+        testWeirdCase() == 55
+
+  test "Generic & finally calling async":
+    proc testGeneric(T: type): Future[T] {.async.} =
+      try:
+        try:
+          await sleepAsync(1.milliseconds)
+          return
+        finally:
+          await sleepAsync(1.milliseconds)
+          await sleepAsync(1.milliseconds)
+          result = 11
+      finally:
+        await sleepAsync(1.milliseconds)
+        await sleepAsync(1.milliseconds)
+        result = 12
+    check waitFor(testGeneric(int)) == 12
+
+    proc testFinallyCallsAsync(T: type): Future[T] {.async.} =
+      try:
+        await sleepAsync(1.milliseconds)
+        return
+      finally:
+        result = await testGeneric(T)
+    check waitFor(testFinallyCallsAsync(int)) == 12
+
+  test "templates returning":
+    proc testReturner: Future[int] {.async.} =
+      returner
+      doAssert false
+    check waitFor(testReturner()) == 5
+
+    proc testReturner2: Future[int] {.async.} =
+      template returner2 =
+        return 6
+      returner2
+      doAssert false
+    check waitFor(testReturner2()) == 6
+
+  test "raising defects":
+    proc raiser {.async.} =
+      # sleeping to make sure our caller is the poll loop
+      await sleepAsync(0.milliseconds)
+      raise newException(Defect, "uh-oh")
+
+    let fut = raiser()
+    expect(Defect): waitFor(fut)
+    check not fut.completed()
+    fut.complete()
+
+  test "return result":
+    proc returnResult: Future[int] {.async.} =
+      var result: int
+      result = 12
+      return result
+    check waitFor(returnResult()) == 12
+
+  test "async in async":
+    proc asyncInAsync: Future[int] {.async.} =
+      proc a2: Future[int] {.async.} =
+        result = 12
+      result = await a2()
+    check waitFor(asyncInAsync()) == 12
+
+suite "Macro transformations - implicit returns":
   test "Implicit return":
     proc implicit(): Future[int] {.async.} =
       42