diff --git a/apis/iam/v1beta1/zz_generated_terraformed.go b/apis/iam/v1beta1/zz_generated_terraformed.go
index c19f68b9e7..6e0110f4f6 100755
--- a/apis/iam/v1beta1/zz_generated_terraformed.go
+++ b/apis/iam/v1beta1/zz_generated_terraformed.go
@@ -843,6 +843,7 @@ func (tr *Role) LateInitialize(attrs []byte) (bool, error) {
 		return false, errors.Wrap(err, "failed to unmarshal Terraform state parameters for late-initialization")
 	}
 	opts := []resource.GenericLateInitializerOption{resource.WithZeroValueJSONOmitEmptyFilter(resource.CNameWildcard)}
+	opts = append(opts, resource.WithNameFilter("ManagedPolicyArns"))
 
 	li := resource.NewGenericLateInitializer(opts...)
 	return li.LateInitialize(&tr.Spec.ForProvider, params)
diff --git a/config/iam/config.go b/config/iam/config.go
index 2271af098c..2b5a7a9417 100644
--- a/config/iam/config.go
+++ b/config/iam/config.go
@@ -33,6 +33,9 @@ func Configure(p *config.Provider) {
 	p.AddResourceConfigurator("aws_iam_role", func(r *config.Resource) {
 		r.MetaResource.ArgumentDocs["inline_policy"] = `Configuration block defining an exclusive set of IAM inline policies associated with the IAM role. See below. If no blocks are configured, Crossplane will not manage any inline policies in this resource. Configuring one empty block (i.e., inline_policy {}) will cause Crossplane to remove all inline policies added out of band on apply.`
 		r.MetaResource.ArgumentDocs["managed_policy_arns"] = `Set of exclusive IAM managed policy ARNs to attach to the IAM role. If this attribute is not configured, Crossplane will ignore policy attachments to this resource. When configured, Crossplane will align the role's managed policy attachments with this set by attaching or detaching managed policies. Configuring an empty set (i.e., managed_policy_arns = []) will cause Crossplane to remove all managed policy attachments.`
+		r.LateInitializer = config.LateInitializer{
+			IgnoredFields: []string{"managed_policy_arns"},
+		}
 	})
 
 	p.AddResourceConfigurator("aws_iam_instance_profile", func(r *config.Resource) {