diff --git a/src/core/annotation.js b/src/core/annotation.js
index d420c2f66..2db3b26ef 100644
--- a/src/core/annotation.js
+++ b/src/core/annotation.js
@@ -39,7 +39,15 @@ import {
   createDefaultAppearance,
   parseDefaultAppearance,
 } from "./default_appearance.js";
-import { Dict, isDict, isName, isRef, isStream, Name } from "./primitives.js";
+import {
+  Dict,
+  isDict,
+  isName,
+  isRef,
+  isStream,
+  Name,
+  RefSet,
+} from "./primitives.js";
 import { ColorSpace } from "./colorspace.js";
 import { OperatorList } from "./operator_list.js";
 import { StringStream } from "./stream.js";
@@ -1066,14 +1074,27 @@ class WidgetAnnotation extends Annotation {
     }
 
     let loopDict = dict;
+    const visited = new RefSet();
+    if (dict.objId) {
+      visited.put(dict.objId);
+    }
     while (loopDict.has("Parent")) {
       loopDict = loopDict.get("Parent");
-      if (!isDict(loopDict)) {
+      if (
+        !(loopDict instanceof Dict) ||
+        (loopDict.objId && visited.has(loopDict.objId))
+      ) {
         // Even though it is not allowed according to the PDF specification,
         // bad PDF generators may provide a `Parent` entry that is not a
         // dictionary, but `null` for example (issue 8143).
+        //
+        // If parent has been already visited, it means that we're
+        // in an infinite loop.
         break;
       }
+      if (loopDict.objId) {
+        visited.put(loopDict.objId);
+      }
 
       if (loopDict.has("T")) {
         fieldName.unshift(stringToPDFString(loopDict.get("T")));
diff --git a/src/core/core_utils.js b/src/core/core_utils.js
index 2fb2d792e..cb205f141 100644
--- a/src/core/core_utils.js
+++ b/src/core/core_utils.js
@@ -19,7 +19,6 @@ import {
   bytesToString,
   objectSize,
   stringToPDFString,
-  warn,
 } from "../shared/util.js";
 import { Dict, isName, isRef, isStream, RefSet } from "./primitives.js";
 
@@ -72,8 +71,7 @@ class XRefParseException extends BaseException {}
  *
  * If the key is not found in the tree, `undefined` is returned. Otherwise,
  * the value for the key is returned or, if `stopWhenFound` is `false`, a list
- * of values is returned. To avoid infinite loops, the traversal is stopped when
- * the loop limit is reached.
+ * of values is returned.
  *
  * @param {Dict} dict - Dictionary from where to start the traversal.
  * @param {string} key - The key of the property to find the value for.
@@ -90,11 +88,13 @@ function getInheritableProperty({
   getArray = false,
   stopWhenFound = true,
 }) {
-  const LOOP_LIMIT = 100;
-  let loopCount = 0;
   let values;
+  const visited = new RefSet();
 
-  while (dict) {
+  while (dict instanceof Dict && !(dict.objId && visited.has(dict.objId))) {
+    if (dict.objId) {
+      visited.put(dict.objId);
+    }
     const value = getArray ? dict.getArray(key) : dict.get(key);
     if (value !== undefined) {
       if (stopWhenFound) {
@@ -105,10 +105,6 @@ function getInheritableProperty({
       }
       values.push(value);
     }
-    if (++loopCount > LOOP_LIMIT) {
-      warn(`getInheritableProperty: maximum loop count exceeded for "${key}"`);
-      break;
-    }
     dict = dict.get("Parent");
   }
   return values;
diff --git a/test/pdfs/.gitignore b/test/pdfs/.gitignore
index 24e86226d..ddb5fcee3 100644
--- a/test/pdfs/.gitignore
+++ b/test/pdfs/.gitignore
@@ -76,6 +76,7 @@
 !issue8798r.pdf
 !issue8823.pdf
 !issue9084.pdf
+!issue12963.pdf
 !issue9105_reduced.pdf
 !issue9252.pdf
 !issue9262_reduced.pdf
diff --git a/test/pdfs/issue12963.pdf b/test/pdfs/issue12963.pdf
new file mode 100644
index 000000000..3c4640ef6
Binary files /dev/null and b/test/pdfs/issue12963.pdf differ
diff --git a/test/test_manifest.json b/test/test_manifest.json
index 5a893ad2e..1658a0d8a 100644
--- a/test/test_manifest.json
+++ b/test/test_manifest.json
@@ -2445,6 +2445,15 @@
        "lastPage": 1,
        "type": "eq"
     },
+    {  "id": "issue12963",
+       "file": "pdfs/issue12963.pdf",
+       "md5": "2590047a2ef0113e698d888c29918008",
+       "rounds": 1,
+       "firstPage": 1,
+       "lastPage": 1,
+       "type": "eq",
+       "annotations": true
+    },
     {  "id": "multiple-filters-length-zero",
        "file": "pdfs/multiple-filters-length-zero.pdf",
        "md5": "c273c3a6fb79cbf3034fe1b62b204728",
diff --git a/test/unit/core_utils_spec.js b/test/unit/core_utils_spec.js
index a9d813cb3..033df42df 100644
--- a/test/unit/core_utils_spec.js
+++ b/test/unit/core_utils_spec.js
@@ -123,30 +123,6 @@ describe("core_utils", function () {
         ["qux2", "quux"],
       ]);
     });
-
-    it("stops searching when the loop limit is reached", function () {
-      const dict = new Dict();
-      let currentDict = dict;
-      let parentDict = null;
-      // Exceed the loop limit of 100.
-      for (let i = 0; i < 150; i++) {
-        parentDict = new Dict();
-        currentDict.set("Parent", parentDict);
-        currentDict = parentDict;
-      }
-      parentDict.set("foo", "bar"); // Never found because of loop limit.
-      expect(getInheritableProperty({ dict, key: "foo" })).toEqual(undefined);
-
-      dict.set("foo", "baz");
-      expect(
-        getInheritableProperty({
-          dict,
-          key: "foo",
-          getArray: false,
-          stopWhenFound: false,
-        })
-      ).toEqual(["baz"]);
-    });
   });
 
   describe("toRomanNumerals", function () {