diff --git a/src/CMakeLists.txt b/src/CMakeLists.txt
index e652d43d58d..36d76fbb27d 100644
--- a/src/CMakeLists.txt
+++ b/src/CMakeLists.txt
@@ -325,6 +325,22 @@ if(WITH_MULTIPROCESS)
     $<TARGET_NAME_IF_EXISTS:bitcoin_wallet>
   )
   list(APPEND installable_targets bitcoin-node)
+
+  if(BUILD_TESTS)
+    # bitcoin_ipc_test library target is defined here in src/CMakeLists.txt
+    # instead of src/test/CMakeLists.txt so capnp files in src/test/ are able to
+    # reference capnp files in src/ipc/capnp/ by relative path. The Cap'n Proto
+    # compiler only allows importing by relative path when the importing and
+    # imported files are underneath the same compilation source prefix, so the
+    # source prefix must be src/, not src/test/
+    add_library(bitcoin_ipc_test STATIC EXCLUDE_FROM_ALL
+      test/ipc_test.cpp
+    )
+    target_capnp_sources(bitcoin_ipc_test ${PROJECT_SOURCE_DIR}
+      test/ipc_test.capnp
+    )
+    add_dependencies(bitcoin_ipc_test bitcoin_ipc_headers)
+  endif()
 endif()
 
 
diff --git a/src/test/CMakeLists.txt b/src/test/CMakeLists.txt
index 2c9957117c0..c23fbae92fe 100644
--- a/src/test/CMakeLists.txt
+++ b/src/test/CMakeLists.txt
@@ -160,14 +160,6 @@ if(ENABLE_WALLET)
 endif()
 
 if(WITH_MULTIPROCESS)
-  add_library(bitcoin_ipc_test STATIC EXCLUDE_FROM_ALL
-    ipc_test.cpp
-  )
-
-  target_capnp_sources(bitcoin_ipc_test ${PROJECT_SOURCE_DIR}
-    ipc_test.capnp
-  )
-
   target_link_libraries(bitcoin_ipc_test
     PRIVATE
       core_interface