diff --git a/aws/data_source_aws_iam_policy.go b/aws/data_source_aws_iam_policy.go
index 3a2233aac96..938af05e46f 100644
--- a/aws/data_source_aws_iam_policy.go
+++ b/aws/data_source_aws_iam_policy.go
@@ -1,7 +1,17 @@
 package aws
 
 import (
+	"fmt"
+	"net/url"
+
+	"github.com/aws/aws-sdk-go/aws"
+	"github.com/aws/aws-sdk-go/service/iam"
+	"github.com/hashicorp/aws-sdk-go-base/tfawserr"
+	"github.com/hashicorp/terraform-plugin-sdk/v2/helper/resource"
 	"github.com/hashicorp/terraform-plugin-sdk/v2/helper/schema"
+	"github.com/terraform-providers/terraform-provider-aws/aws/internal/keyvaluetags"
+	"github.com/terraform-providers/terraform-provider-aws/aws/internal/service/iam/waiter"
+	"github.com/terraform-providers/terraform-provider-aws/aws/internal/tfresource"
 )
 
 func dataSourceAwsIAMPolicy() *schema.Resource {
@@ -40,6 +50,105 @@ func dataSourceAwsIAMPolicy() *schema.Resource {
 }
 
 func dataSourceAwsIAMPolicyRead(d *schema.ResourceData, meta interface{}) error {
-	d.SetId(d.Get("arn").(string))
-	return resourceAwsIamPolicyRead(d, meta)
+	conn := meta.(*AWSClient).iamconn
+	ignoreTagsConfig := meta.(*AWSClient).IgnoreTagsConfig
+
+	arn := d.Get("arn").(string)
+
+	input := &iam.GetPolicyInput{
+		PolicyArn: aws.String(arn),
+	}
+
+	// Handle IAM eventual consistency
+	var output *iam.GetPolicyOutput
+	err := resource.Retry(waiter.PropagationTimeout, func() *resource.RetryError {
+		var err error
+		output, err = conn.GetPolicy(input)
+
+		if tfawserr.ErrCodeEquals(err, iam.ErrCodeNoSuchEntityException) {
+			return resource.RetryableError(err)
+		}
+
+		if err != nil {
+			return resource.NonRetryableError(err)
+		}
+
+		return nil
+	})
+
+	if tfresource.TimedOut(err) {
+		output, err = conn.GetPolicy(input)
+	}
+
+	if err != nil {
+		return fmt.Errorf("error reading IAM policy %s: %w", arn, err)
+	}
+
+	if output == nil || output.Policy == nil {
+		return fmt.Errorf("error reading IAM policy %s: empty output", arn)
+	}
+
+	policy := output.Policy
+
+	d.SetId(aws.StringValue(policy.Arn))
+
+	d.Set("arn", policy.Arn)
+	d.Set("description", policy.Description)
+	d.Set("name", policy.PolicyName)
+	d.Set("path", policy.Path)
+	d.Set("policy_id", policy.PolicyId)
+
+	if err := d.Set("tags", keyvaluetags.IamKeyValueTags(policy.Tags).IgnoreAws().IgnoreConfig(ignoreTagsConfig).Map()); err != nil {
+		return fmt.Errorf("error setting tags: %w", err)
+	}
+
+	// Retrieve policy
+
+	policyVersionInput := &iam.GetPolicyVersionInput{
+		PolicyArn: aws.String(arn),
+		VersionId: policy.DefaultVersionId,
+	}
+
+	// Handle IAM eventual consistency
+	var policyVersionOutput *iam.GetPolicyVersionOutput
+	err = resource.Retry(waiter.PropagationTimeout, func() *resource.RetryError {
+		var err error
+		policyVersionOutput, err = conn.GetPolicyVersion(policyVersionInput)
+
+		if tfawserr.ErrCodeEquals(err, iam.ErrCodeNoSuchEntityException) {
+			return resource.RetryableError(err)
+		}
+
+		if err != nil {
+			return resource.NonRetryableError(err)
+		}
+
+		return nil
+	})
+
+	if tfresource.TimedOut(err) {
+		policyVersionOutput, err = conn.GetPolicyVersion(policyVersionInput)
+	}
+
+	if err != nil {
+		return fmt.Errorf("error reading IAM Policy (%s) version: %w", arn, err)
+	}
+
+	if policyVersionOutput == nil || policyVersionOutput.PolicyVersion == nil {
+		return fmt.Errorf("error reading IAM Policy (%s) version: empty output", arn)
+	}
+
+	policyVersion := policyVersionOutput.PolicyVersion
+
+	var policyDocument string
+	if policyVersion != nil {
+		policyDocument, err = url.QueryUnescape(aws.StringValue(policyVersion.Document))
+		if err != nil {
+			return fmt.Errorf("error parsing IAM Policy (%s) document: %w", arn, err)
+		}
+	}
+
+	d.Set("policy", policyDocument)
+
+	return nil
 }
diff --git a/aws/resource_aws_iam_policy.go b/aws/resource_aws_iam_policy.go
index ef7c52a25ff..e0536cb9874 100644
--- a/aws/resource_aws_iam_policy.go
+++ b/aws/resource_aws_iam_policy.go
@@ -8,11 +8,13 @@ import (
 
 	"github.com/aws/aws-sdk-go/aws"
 	"github.com/aws/aws-sdk-go/service/iam"
+	"github.com/hashicorp/aws-sdk-go-base/tfawserr"
 	"github.com/hashicorp/terraform-plugin-sdk/v2/helper/resource"
 	"github.com/hashicorp/terraform-plugin-sdk/v2/helper/schema"
 	"github.com/hashicorp/terraform-plugin-sdk/v2/helper/validation"
 	"github.com/terraform-providers/terraform-provider-aws/aws/internal/keyvaluetags"
 	"github.com/terraform-providers/terraform-provider-aws/aws/internal/service/iam/waiter"
+	"github.com/terraform-providers/terraform-provider-aws/aws/internal/tfresource"
 )
 
 func resourceAwsIamPolicy() *schema.Resource {
@@ -99,7 +101,7 @@ func resourceAwsIamPolicyCreate(d *schema.ResourceData, meta interface{}) error
 
 	response, err := conn.CreatePolicy(request)
 	if err != nil {
-		return fmt.Errorf("Error creating IAM policy %s: %w", name, err)
+		return fmt.Errorf("error creating IAM policy %s: %w", name, err)
 	}
 
 	d.SetId(aws.StringValue(response.Policy.Arn))
@@ -111,18 +113,17 @@ func resourceAwsIamPolicyRead(d *schema.ResourceData, meta interface{}) error {
 	conn := meta.(*AWSClient).iamconn
 	ignoreTagsConfig := meta.(*AWSClient).IgnoreTagsConfig
 
-	getPolicyRequest := &iam.GetPolicyInput{
+	input := &iam.GetPolicyInput{
 		PolicyArn: aws.String(d.Id()),
 	}
-	log.Printf("[DEBUG] Getting IAM Policy: %s", getPolicyRequest)
 
 	// Handle IAM eventual consistency
 	var getPolicyResponse *iam.GetPolicyOutput
 	err := resource.Retry(waiter.PropagationTimeout, func() *resource.RetryError {
 		var err error
-		getPolicyResponse, err = conn.GetPolicy(getPolicyRequest)
+		getPolicyResponse, err = conn.GetPolicy(input)
 
-		if d.IsNewResource() && isAWSErr(err, iam.ErrCodeNoSuchEntityException, "") {
+		if d.IsNewResource() && tfawserr.ErrCodeEquals(err, iam.ErrCodeNoSuchEntityException) {
 			return resource.RetryableError(err)
 		}
 
@@ -132,17 +133,19 @@ func resourceAwsIamPolicyRead(d *schema.ResourceData, meta interface{}) error {
 
 		return nil
 	})
-	if isResourceTimeoutError(err) {
-		getPolicyResponse, err = conn.GetPolicy(getPolicyRequest)
+
+	if tfresource.TimedOut(err) {
+		getPolicyResponse, err = conn.GetPolicy(input)
 	}
-	if isAWSErr(err, iam.ErrCodeNoSuchEntityException, "") {
+
+	if tfawserr.ErrCodeEquals(err, iam.ErrCodeNoSuchEntityException) {
 		log.Printf("[WARN] IAM Policy (%s) not found, removing from state", d.Id())
 		d.SetId("")
 		return nil
 	}
 
 	if err != nil {
-		return fmt.Errorf("Error reading IAM policy %s: %w", d.Id(), err)
+		return fmt.Errorf("error reading IAM policy %s: %w", d.Id(), err)
 	}
 
 	if getPolicyResponse == nil || getPolicyResponse.Policy == nil {
@@ -151,14 +154,15 @@ func resourceAwsIamPolicyRead(d *schema.ResourceData, meta interface{}) error {
 		return nil
 	}
 
-	policyRes := getPolicyResponse.Policy
-	d.Set("arn", policyRes.Arn)
-	d.Set("description", policyRes.Description)
-	d.Set("name", policyRes.PolicyName)
-	d.Set("path", policyRes.Path)
-	d.Set("policy_id", policyRes.PolicyId)
+	policy := getPolicyResponse.Policy
+
+	d.Set("arn", policy.Arn)
+	d.Set("description", policy.Description)
+	d.Set("name", policy.PolicyName)
+	d.Set("path", policy.Path)
+	d.Set("policy_id", policy.PolicyId)
 
-	if err := d.Set("tags", keyvaluetags.IamKeyValueTags(policyRes.Tags).IgnoreAws().IgnoreConfig(ignoreTagsConfig).Map()); err != nil {
+	if err := d.Set("tags", keyvaluetags.IamKeyValueTags(policy.Tags).IgnoreAws().IgnoreConfig(ignoreTagsConfig).Map()); err != nil {
 		return fmt.Errorf("error setting tags: %w", err)
 	}
 
@@ -166,9 +170,8 @@ func resourceAwsIamPolicyRead(d *schema.ResourceData, meta interface{}) error {
 
 	getPolicyVersionRequest := &iam.GetPolicyVersionInput{
 		PolicyArn: aws.String(d.Id()),
-		VersionId: policyRes.DefaultVersionId,
+		VersionId: policy.DefaultVersionId,
 	}
-	log.Printf("[DEBUG] Getting IAM Policy Version: %s", getPolicyVersionRequest)
 
 	// Handle IAM eventual consistency
 	var getPolicyVersionResponse *iam.GetPolicyVersionOutput
@@ -176,7 +179,7 @@ func resourceAwsIamPolicyRead(d *schema.ResourceData, meta interface{}) error {
 		var err error
 		getPolicyVersionResponse, err = conn.GetPolicyVersion(getPolicyVersionRequest)
 
-		if isAWSErr(err, iam.ErrCodeNoSuchEntityException, "") {
+		if tfawserr.ErrCodeEquals(err, iam.ErrCodeNoSuchEntityException) {
 			return resource.RetryableError(err)
 		}
 
@@ -186,29 +189,31 @@ func resourceAwsIamPolicyRead(d *schema.ResourceData, meta interface{}) error {
 
 		return nil
 	})
-	if isResourceTimeoutError(err) {
+
+	if tfresource.TimedOut(err) {
 		getPolicyVersionResponse, err = conn.GetPolicyVersion(getPolicyVersionRequest)
 	}
-	if isAWSErr(err, iam.ErrCodeNoSuchEntityException, "") {
+
+	if tfawserr.ErrCodeEquals(err, iam.ErrCodeNoSuchEntityException) {
 		log.Printf("[WARN] IAM Policy (%s) not found, removing from state", d.Id())
 		d.SetId("")
 		return nil
 	}
 
 	if err != nil {
-		return fmt.Errorf("Error reading IAM policy version %s: %w", d.Id(), err)
+		return fmt.Errorf("error reading IAM policy version %s: %w", d.Id(), err)
 	}
 
-	policy := ""
+	var policyDocument string
 	if getPolicyVersionResponse != nil && getPolicyVersionResponse.PolicyVersion != nil {
 		var err error
-		policy, err = url.QueryUnescape(aws.StringValue(getPolicyVersionResponse.PolicyVersion.Document))
+		policyDocument, err = url.QueryUnescape(aws.StringValue(getPolicyVersionResponse.PolicyVersion.Document))
 		if err != nil {
-			return fmt.Errorf("error parsing policy: %w", err)
+			return fmt.Errorf("error parsing IAM policy (%s) document: %w", d.Id(), err)
 		}
 	}
 
-	d.Set("policy", policy)
+	d.Set("policy", policyDocument)
 
 	return nil
 }
@@ -229,7 +234,7 @@ func resourceAwsIamPolicyUpdate(d *schema.ResourceData, meta interface{}) error
 		}
 
 		if _, err := conn.CreatePolicyVersion(request); err != nil {
-			return fmt.Errorf("Error updating IAM policy %s: %w", d.Id(), err)
+			return fmt.Errorf("error updating IAM policy %s: %w", d.Id(), err)
 		}
 	}
 
@@ -255,11 +260,14 @@ func resourceAwsIamPolicyDelete(d *schema.ResourceData, meta interface{}) error
 		PolicyArn: aws.String(d.Id()),
 	}
 
-	if _, err := conn.DeletePolicy(request); err != nil {
-		if isAWSErr(err, iam.ErrCodeNoSuchEntityException, "") {
-			return nil
-		}
-		return fmt.Errorf("Error deleting IAM policy %s: %w", d.Id(), err)
+	_, err := conn.DeletePolicy(request)
+
+	if tfawserr.ErrCodeEquals(err, iam.ErrCodeNoSuchEntityException) {
+		return nil
+	}
+
+	if err != nil {
+		return fmt.Errorf("error deleting IAM policy %s: %w", d.Id(), err)
 	}
 
 	return nil