diff --git a/ip.go b/ip.go
index 06b8bcb5..046f48b3 100644
--- a/ip.go
+++ b/ip.go
@@ -32,6 +32,9 @@ func (i *ipValue) Type() string {
 }
 
 func ipConv(sval string) (interface{}, error) {
+	if sval == "" || sval == "<nil>" {
+		return net.IP(nil), nil
+	}
 	ip := net.ParseIP(sval)
 	if ip != nil {
 		return ip, nil
diff --git a/ip_test.go b/ip_test.go
index 7a5da106..8f11ac46 100644
--- a/ip_test.go
+++ b/ip_test.go
@@ -61,3 +61,20 @@ func TestIP(t *testing.T) {
 		}
 	}
 }
+
+func TestIPNilDefault(t *testing.T) {
+	var addr net.IP
+	f := NewFlagSet("test", ContinueOnError)
+	f.IPVar(&addr, "address", nil, "IP Address")
+
+	ip, err := f.GetIP("address")
+	if err != nil {
+		t.Fatalf("expected nil default IP to round-trip without error, got %v", err)
+	}
+	if ip != nil {
+		t.Fatalf("expected nil default IP, got %v", ip)
+	}
+	if addr != nil {
+		t.Fatalf("expected bound IP variable to stay nil, got %v", addr)
+	}
+}