diff --git a/api/v2beta1/helmrelease_types.go b/api/v2beta1/helmrelease_types.go
index 9a6cbd608..24d0e1d0e 100644
--- a/api/v2beta1/helmrelease_types.go
+++ b/api/v2beta1/helmrelease_types.go
@@ -236,7 +236,7 @@ func (in HelmReleaseSpec) GetUninstall() Uninstall {
 type HelmChartTemplate struct {
 	// ObjectMeta holds the template for metadata like labels and annotations.
 	// +optional
-	ObjectMeta HelmChartTemplateObjectMeta `json:"metadata,omitempty"`
+	ObjectMeta *HelmChartTemplateObjectMeta `json:"metadata,omitempty"`
 
 	// Spec holds the template for the v1beta2.HelmChartSpec for this HelmRelease.
 	// +required
diff --git a/api/v2beta1/zz_generated.deepcopy.go b/api/v2beta1/zz_generated.deepcopy.go
index 314b34d3f..5fb7ee4db 100644
--- a/api/v2beta1/zz_generated.deepcopy.go
+++ b/api/v2beta1/zz_generated.deepcopy.go
@@ -47,7 +47,11 @@ func (in *CrossNamespaceObjectReference) DeepCopy() *CrossNamespaceObjectReferen
 // DeepCopyInto is an autogenerated deepcopy function, copying the receiver, writing into out. in must be non-nil.
 func (in *HelmChartTemplate) DeepCopyInto(out *HelmChartTemplate) {
 	*out = *in
-	in.ObjectMeta.DeepCopyInto(&out.ObjectMeta)
+	if in.ObjectMeta != nil {
+		in, out := &in.ObjectMeta, &out.ObjectMeta
+		*out = new(HelmChartTemplateObjectMeta)
+		(*in).DeepCopyInto(*out)
+	}
 	in.Spec.DeepCopyInto(&out.Spec)
 }
 
diff --git a/docs/spec/v2beta1/helmreleases.md b/docs/spec/v2beta1/helmreleases.md
index 7ff257aa3..c396146e5 100644
--- a/docs/spec/v2beta1/helmreleases.md
+++ b/docs/spec/v2beta1/helmreleases.md
@@ -151,7 +151,7 @@ type KubeConfig struct {
 type HelmChartTemplate struct {
 	// ObjectMeta holds the template for metadata like labels and annotations.
 	// +optional
-	ObjectMeta HelmChartTemplateObjectMeta `json:"metadata,omitempty"`
+	ObjectMeta *HelmChartTemplateObjectMeta `json:"metadata,omitempty"`
 
 	// Spec holds the template for the v1beta1.HelmChartSpec for this HelmRelease.
 	// +required
diff --git a/internal/controllers/helmrelease_controller_chart.go b/internal/controllers/helmrelease_controller_chart.go
index 893816d5a..661fce268 100644
--- a/internal/controllers/helmrelease_controller_chart.go
+++ b/internal/controllers/helmrelease_controller_chart.go
@@ -199,12 +199,10 @@ func (r *HelmReleaseReconciler) deleteHelmChart(ctx context.Context, hr *v2.Helm
 // v2beta1.HelmChartTemplate of the given v2beta1.HelmRelease.
 func buildHelmChartFromTemplate(hr *v2.HelmRelease) *sourcev1b2.HelmChart {
 	template := hr.Spec.Chart
-	return &sourcev1b2.HelmChart{
+	result := &sourcev1b2.HelmChart{
 		ObjectMeta: metav1.ObjectMeta{
-			Name:        hr.GetHelmChartName(),
-			Namespace:   hr.Spec.Chart.GetNamespace(hr.Namespace),
-			Labels:      hr.Spec.Chart.ObjectMeta.Labels,
-			Annotations: hr.Spec.Chart.ObjectMeta.Annotations,
+			Name:      hr.GetHelmChartName(),
+			Namespace: hr.Spec.Chart.GetNamespace(hr.Namespace),
 		},
 		Spec: sourcev1b2.HelmChartSpec{
 			Chart:   template.Spec.Chart,
@@ -220,6 +218,11 @@ func buildHelmChartFromTemplate(hr *v2.HelmRelease) *sourcev1b2.HelmChart {
 			Verify:            templateVerificationToSourceVerification(template.Spec.Verify),
 		},
 	}
+	if hr.Spec.Chart.ObjectMeta != nil {
+		result.ObjectMeta.Labels = hr.Spec.Chart.ObjectMeta.Labels
+		result.ObjectMeta.Annotations = hr.Spec.Chart.ObjectMeta.Annotations
+	}
+	return result
 }
 
 // helmChartRequiresUpdate compares the v2beta1.HelmChartTemplate of the
@@ -246,9 +249,9 @@ func helmChartRequiresUpdate(hr *v2.HelmRelease, chart *sourcev1b2.HelmChart) bo
 		return true
 	case template.Spec.ValuesFile != chart.Spec.ValuesFile:
 		return true
-	case !apiequality.Semantic.DeepEqual(template.ObjectMeta.Annotations, chart.Annotations):
+	case template.ObjectMeta != nil && !apiequality.Semantic.DeepEqual(template.ObjectMeta.Annotations, chart.Annotations):
 		return true
-	case !apiequality.Semantic.DeepEqual(template.ObjectMeta.Labels, chart.Labels):
+	case template.ObjectMeta != nil && !apiequality.Semantic.DeepEqual(template.ObjectMeta.Labels, chart.Labels):
 		return true
 	case !reflect.DeepEqual(templateVerificationToSourceVerification(template.Spec.Verify), chart.Spec.Verify):
 		return true
diff --git a/internal/controllers/helmrelease_controller_chart_test.go b/internal/controllers/helmrelease_controller_chart_test.go
index bd676c72a..b4f8632b3 100644
--- a/internal/controllers/helmrelease_controller_chart_test.go
+++ b/internal/controllers/helmrelease_controller_chart_test.go
@@ -517,14 +517,14 @@ func Test_helmChartRequiresUpdate(t *testing.T) {
 		{
 			name: "detects labels change",
 			modify: func(hr *v2.HelmRelease, hc *sourcev1.HelmChart) {
-				hr.Spec.Chart.ObjectMeta.Labels = map[string]string{"foo": "bar"}
+				hr.Spec.Chart.ObjectMeta = &v2.HelmChartTemplateObjectMeta{Labels: map[string]string{"foo": "bar"}}
 			},
 			want: true,
 		},
 		{
 			name: "detects annotations change",
 			modify: func(hr *v2.HelmRelease, hc *sourcev1.HelmChart) {
-				hr.Spec.Chart.ObjectMeta.Annotations = map[string]string{"foo": "bar"}
+				hr.Spec.Chart.ObjectMeta = &v2.HelmChartTemplateObjectMeta{Annotations: map[string]string{"foo": "bar"}}
 			},
 			want: true,
 		},