diff --git a/inference-engine/src/plugin_api/ie_ngraph_utils.hpp b/inference-engine/src/plugin_api/ie_ngraph_utils.hpp
index 22cd621cd47572..aa3e40b08db779 100644
--- a/inference-engine/src/plugin_api/ie_ngraph_utils.hpp
+++ b/inference-engine/src/plugin_api/ie_ngraph_utils.hpp
@@ -71,7 +71,7 @@ inline ::ngraph::element::Type convertPrecision(const std::string& precision) {
         return ::ngraph::element::Type(::ngraph::element::Type_t::i32);
     } else if (precision == "i64" || precision == "I64") {
         return ::ngraph::element::Type(::ngraph::element::Type_t::i64);
-    } else if (precision == "u1" || precision == "U1") {
+    } else if (precision == "u1" || precision == "U1" || precision == "BIN" || precision == "bin") {
         return ::ngraph::element::Type(::ngraph::element::Type_t::u1);
     } else if (precision == "u8" || precision == "U8") {
         return ::ngraph::element::Type(::ngraph::element::Type_t::u8);
diff --git a/inference-engine/tests/functional/inference_engine/ir_serialization/models/add_abc_bin.xml b/inference-engine/tests/functional/inference_engine/ir_serialization/models/add_abc_bin.xml
new file mode 100644
index 00000000000000..e89f176d14c783
--- /dev/null
+++ b/inference-engine/tests/functional/inference_engine/ir_serialization/models/add_abc_bin.xml
@@ -0,0 +1,73 @@
+<?xml version="1.0" ?>
+<net name="add_abc" version="10">
+	<layers>
+		<layer id="0" name="A" type="Parameter" version="opset1">
+			<data element_type="u1" shape="1"/>
+			<output>
+				<port id="0" precision="BIN">
+					<dim>1</dim>
+				</port>
+			</output>
+		</layer>
+		<layer id="1" name="B" type="Parameter" version="opset1">
+			<data element_type="u1" shape="1"/>
+			<output>
+				<port id="0" precision="BIN">
+					<dim>1</dim>
+				</port>
+			</output>
+		</layer>
+		<layer id="2" name="add_node1" type="Add" version="opset1">
+			<input>
+				<port id="0">
+					<dim>1</dim>
+				</port>
+				<port id="1">
+					<dim>1</dim>
+				</port>
+			</input>
+			<output>
+				<port id="2" precision="BIN">
+					<dim>1</dim>
+				</port>
+			</output>
+		</layer>
+		<layer id="3" name="C" type="Parameter" version="opset1">
+			<data element_type="u1" shape="1"/>
+			<output>
+				<port id="0" precision="BIN">
+					<dim>1</dim>
+				</port>
+			</output>
+		</layer>
+		<layer id="4" name="Y" type="Add" version="opset1">
+			<input>
+				<port id="0">
+					<dim>1</dim>
+				</port>
+				<port id="1">
+					<dim>1</dim>
+				</port>
+			</input>
+			<output>
+				<port id="2" precision="BIN">
+					<dim>1</dim>
+				</port>
+			</output>
+		</layer>
+		<layer id="5" name="Y/sink_port_0" type="Result" version="opset1">
+			<input>
+				<port id="0">
+					<dim>1</dim>
+				</port>
+			</input>
+		</layer>
+	</layers>
+	<edges>
+		<edge from-layer="0" from-port="0" to-layer="2" to-port="0"/>
+		<edge from-layer="1" from-port="0" to-layer="2" to-port="1"/>
+		<edge from-layer="2" from-port="2" to-layer="4" to-port="0"/>
+		<edge from-layer="3" from-port="0" to-layer="4" to-port="1"/>
+		<edge from-layer="4" from-port="2" to-layer="5" to-port="0"/>
+	</edges>	
+</net>
diff --git a/inference-engine/tests/functional/inference_engine/ir_serialization/serialize.cpp b/inference-engine/tests/functional/inference_engine/ir_serialization/serialize.cpp
index 98a6c33bcbe20b..c3cae265063cbc 100644
--- a/inference-engine/tests/functional/inference_engine/ir_serialization/serialize.cpp
+++ b/inference-engine/tests/functional/inference_engine/ir_serialization/serialize.cpp
@@ -60,6 +60,7 @@ TEST_P(SerializationTest, CompareFunctions) {
 INSTANTIATE_TEST_CASE_P(IRSerialization, SerializationTest,
         testing::Values(std::make_tuple("add_abc.xml", "add_abc.bin"),
                         std::make_tuple("add_abc_f64.xml", ""),
+                        std::make_tuple("add_abc_bin.xml", ""),
                         std::make_tuple("split_equal_parts_2d.xml", "split_equal_parts_2d.bin"),
                         std::make_tuple("addmul_abc.xml", "addmul_abc.bin"),
                         std::make_tuple("add_abc_initializers.xml", "add_abc_initializers.bin"),