diff --git a/frappe/desk/form/meta.py b/frappe/desk/form/meta.py
index 151a9b935f..d2022215c7 100644
--- a/frappe/desk/form/meta.py
+++ b/frappe/desk/form/meta.py
@@ -45,19 +45,6 @@ def get_meta(doctype, cached=True) -> "FormMeta":
 		#       In prod don't use cached meta when explicitly requesting from DB.
 		meta = FormMeta(doctype, cached=frappe.conf.developer_mode)
 
-	if meta.name not in meta.special_doctypes:
-		meta = mask_protected_fields(meta)
-
-	return meta
-
-
-def mask_protected_fields(meta):
-	for df in meta.fields:
-		if df.get("mask") and not meta.has_permlevel_access_to(
-			fieldname=df.fieldname, df=df, permission_type="mask"
-		):
-			# store orignal fieldtype and change fieldtype to Data
-			df.mask_readonly = 1
 	return meta
 
 
@@ -89,6 +76,9 @@ class FormMeta(Meta):
 		for k in ASSET_KEYS:
 			d[k] = __dict.get(k)
 
+		# add masked fields (per-user, per-meta)
+		d["masked_fields"] = [df.fieldname for df in self.get_masked_fields()]
+
 		return d
 
 	def add_code(self):
diff --git a/frappe/model/meta.py b/frappe/model/meta.py
index 11dc18b7df..b95ebfa5b9 100644
--- a/frappe/model/meta.py
+++ b/frappe/model/meta.py
@@ -88,11 +88,6 @@ def get_meta(doctype: "str | DocType", cached: bool = True) -> "_Meta":
 
 	meta = Meta(doctype)
 
-	if meta.name not in meta.special_doctypes:
-		from frappe.desk.form.meta import mask_protected_fields
-
-		meta = mask_protected_fields(meta)
-
 	key = f"doctype_meta::{meta.name}"
 	frappe.client_cache.set_value(key, meta)
 	return meta
@@ -200,7 +195,26 @@ class Meta(Document):
 		return self._dynamic_link_fields
 
 	def get_masked_fields(self):
-		return self.get("fields", {"mask_readonly": 1})
+		import copy
+
+		if frappe.session.user == "Administrator":
+			return []
+		cache_key = f"masked_fields::{self.name}::{frappe.session.user}"
+		masked_fields = frappe.cache.get_value(cache_key)
+
+		if masked_fields is None:
+			masked_fields = []
+			for df in self.fields:
+				if df.get("mask") and not self.has_permlevel_access_to(
+					fieldname=df.fieldname, df=df, permission_type="mask"
+				):
+					# work on a copy instead of original df
+					df_copy = copy.deepcopy(df)
+					df_copy.mask_readonly = 1
+					masked_fields.append(df_copy)
+			frappe.cache.set_value(cache_key, masked_fields)
+
+		return masked_fields
 
 	@cached_property
 	def _dynamic_link_fields(self):
diff --git a/frappe/public/js/frappe/form/form.js b/frappe/public/js/frappe/form/form.js
index c3effffc2a..8eab942aa1 100644
--- a/frappe/public/js/frappe/form/form.js
+++ b/frappe/public/js/frappe/form/form.js
@@ -1174,11 +1174,11 @@ frappe.ui.form.Form = class FrappeForm {
 	}
 
 	mark_mask_fields_readonly() {
-		this.fields.forEach((field) => {
-			if (field.df.mask && field.df.mask_readonly) {
-				this.set_df_property(field.df.fieldname, "disabled", "1");
-				this.set_df_property(field.df.fieldname, "fieldtype", "Data");
-			}
+		const masked_fields = this.meta.masked_fields || [];
+
+		masked_fields.forEach((fieldname) => {
+			this.set_df_property(fieldname, "read_only", 1);
+			this.set_df_property(fieldname, "fieldtype", "Data");
 		});
 	}
 
diff --git a/frappe/public/js/frappe/form/formatters.js b/frappe/public/js/frappe/form/formatters.js
index 8a5b60f174..da916be9eb 100644
--- a/frappe/public/js/frappe/form/formatters.js
+++ b/frappe/public/js/frappe/form/formatters.js
@@ -417,7 +417,13 @@ frappe.form.get_formatter = function (fieldtype) {
 };
 
 frappe.format = function (value, df, options, doc) {
-	if (!df || df?.mask_readonly) df = { fieldtype: "Data" };
+	let mask_readonly = false;
+	if (df.parent) {
+		const mask_fields = frappe.get_meta(df.parent)?.masked_fields;
+		mask_readonly = mask_fields?.includes(df.fieldname);
+	}
+
+	if (!df || mask_readonly) df = { fieldtype: "Data" };
 	if (df.fieldname == "_user_tags") df = { ...df, fieldtype: "Tag" };
 	var fieldtype = df.fieldtype || "Data";
 
diff --git a/frappe/public/js/frappe/form/layout.js b/frappe/public/js/frappe/form/layout.js
index cb5445691a..fc50b9bfcd 100644
--- a/frappe/public/js/frappe/form/layout.js
+++ b/frappe/public/js/frappe/form/layout.js
@@ -245,12 +245,6 @@ frappe.ui.form.Layout = class Layout {
 	}
 
 	init_field(df, parent, render = false) {
-		if (df.mask && df.mask_readonly) {
-			if (df.fieldtype !== "Data") {
-				df.read_only = 1;
-				df.fieldtype = "Data";
-			}
-		}
 		const fieldobj = frappe.ui.form.make_control({
 			df: df,
 			doctype: this.doctype,
diff --git a/frappe/public/js/frappe/list/list_view.js b/frappe/public/js/frappe/list/list_view.js
index 16d75604ec..343f44b8f8 100644
--- a/frappe/public/js/frappe/list/list_view.js
+++ b/frappe/public/js/frappe/list/list_view.js
@@ -922,7 +922,10 @@ frappe.views.ListView = class ListView extends frappe.views.BaseList {
 				_value = _value * out_of_ratings;
 			}
 
-			let filterable = df?.mask_readonly ? "no-underline" : " filterable";
+			let masked_fields = frappe.get_meta(this.doctype).masked_fields || [];
+			let is_masked = masked_fields.includes(df.fieldname);
+
+			let filterable = is_masked ? "no-underline" : " filterable";
 
 			if (df.fieldtype === "Image") {
 				html = df.options
diff --git a/frappe/public/js/frappe/views/reports/query_report.js b/frappe/public/js/frappe/views/reports/query_report.js
index 75859d0dab..8f5b881e1c 100644
--- a/frappe/public/js/frappe/views/reports/query_report.js
+++ b/frappe/public/js/frappe/views/reports/query_report.js
@@ -1090,22 +1090,14 @@ frappe.views.QueryReport = class QueryReport extends frappe.views.BaseList {
 	}
 
 	update_masked_fields_in_columns(columns) {
-		const meta_fields = frappe.get_meta(this.report_doc?.ref_doctype).fields;
+		const masked_fields = frappe.get_meta(this.report_doc?.ref_doctype).masked_fields;
 
-		const masked_field_map = Object.fromEntries(
-			meta_fields
-				.filter((field) => field.mask && field.mask_readonly)
-				.map((field) => [field.fieldname, field])
-		);
-
-		// return updated columns with masked field metadata applied
 		return columns.map((col) => {
-			const masked_field = masked_field_map[col.fieldname];
-			if (masked_field) {
+			if (masked_fields.includes(col.fieldname)) {
 				return {
 					...col,
 					fieldtype: "Data",
-					options: masked_field.options,
+					options: [],
 				};
 			}
 			return col;