diff --git a/.github/workflows/ci-libshortfin.yml b/.github/workflows/ci-libshortfin.yml
index 543a6abe6..cd33176ec 100644
--- a/.github/workflows/ci-libshortfin.yml
+++ b/.github/workflows/ci-libshortfin.yml
@@ -101,7 +101,7 @@ jobs:
         repository: iree-org/iree
         path: ${{ env.IREE_REPO_DIR }}
         submodules: false
-        ref: iree-3.1.0rc20241204
+        ref: iree-3.1.0rc20241220
 
     - name: Initalize IREE submodules
       working-directory: ${{ env.IREE_REPO_DIR }}
diff --git a/.github/workflows/ci_linux_x64_asan-libshortfin.yml b/.github/workflows/ci_linux_x64_asan-libshortfin.yml
index 5da88489e..b3de1a593 100644
--- a/.github/workflows/ci_linux_x64_asan-libshortfin.yml
+++ b/.github/workflows/ci_linux_x64_asan-libshortfin.yml
@@ -106,7 +106,7 @@ jobs:
         repository: iree-org/iree
         path: ${{ env.IREE_SOURCE_DIR }}
         submodules: false
-        ref: iree-3.1.0rc20241204
+        ref: iree-3.1.0rc20241220
 
     - name: Initalize IREE submodules
       working-directory: ${{ env.IREE_SOURCE_DIR }}
diff --git a/.github/workflows/ci_linux_x64_nogil-libshortfin.yml b/.github/workflows/ci_linux_x64_nogil-libshortfin.yml
index e347093a5..d10408c6d 100644
--- a/.github/workflows/ci_linux_x64_nogil-libshortfin.yml
+++ b/.github/workflows/ci_linux_x64_nogil-libshortfin.yml
@@ -54,7 +54,7 @@ jobs:
         repository: iree-org/iree
         path: ${{ env.IREE_REPO_DIR }}
         submodules: false
-        ref: iree-3.1.0rc20241204
+        ref: iree-3.1.0rc20241220
 
     - name: Initalize IREE submodules
       working-directory: ${{ env.IREE_REPO_DIR }}
diff --git a/shortfin/CMakeLists.txt b/shortfin/CMakeLists.txt
index bd46d84f9..4b3ff446a 100644
--- a/shortfin/CMakeLists.txt
+++ b/shortfin/CMakeLists.txt
@@ -44,7 +44,7 @@ add_compile_options("$<$<C_COMPILER_ID:MSVC>:/utf-8>")
 add_compile_options("$<$<CXX_COMPILER_ID:MSVC>:/utf-8>")
 
 # Pins
-set(SHORTFIN_IREE_GIT_TAG "iree-3.1.0rc20241204")
+set(SHORTFIN_IREE_GIT_TAG "iree-3.1.0rc20241220")
 
 # build options
 option(SHORTFIN_BUILD_PYTHON_BINDINGS "Builds Python Bindings" OFF)
diff --git a/shortfin/src/shortfin/array/storage.cc b/shortfin/src/shortfin/array/storage.cc
index ffbbd9ba2..a36991d1b 100644
--- a/shortfin/src/shortfin/array/storage.cc
+++ b/shortfin/src/shortfin/array/storage.cc
@@ -92,7 +92,8 @@ storage storage::subspan(iree_device_size_t byte_offset,
                          iree_device_size_t byte_length) {
   storage new_storage(device_, {}, timeline_resource_);
   SHORTFIN_THROW_IF_ERROR(iree_hal_buffer_subspan(
-      buffer_, byte_offset, byte_length, new_storage.buffer_.for_output()));
+      buffer_, byte_offset, byte_length, host_allocator(),
+      new_storage.buffer_.for_output()));
   return new_storage;
 }
 
diff --git a/shortfin/src/shortfin/local/program.cc b/shortfin/src/shortfin/local/program.cc
index 71452da3e..0eefb572f 100644
--- a/shortfin/src/shortfin/local/program.cc
+++ b/shortfin/src/shortfin/local/program.cc
@@ -663,7 +663,8 @@ void StaticProgramParameters::Load(std::filesystem::path file_path,
 
   // Parse.
   SHORTFIN_THROW_IF_ERROR(iree_io_parse_file_index(
-      to_iree_string_view(options.format), file_handle.get(), index_.get()));
+      to_iree_string_view(options.format), file_handle.get(), index_.get(),
+      host_allocator_));
 }
 
 // -------------------------------------------------------------------------- //