diff --git a/core/config/schema/core.entity.schema.yml b/core/config/schema/core.entity.schema.yml
index df2a2fd..2fc9d2c 100644
--- a/core/config/schema/core.entity.schema.yml
+++ b/core/config/schema/core.entity.schema.yml
@@ -362,3 +362,10 @@ field.formatter.settings.entity_reference_label:
       type: boolean
       label: 'Link label to the referenced entity'
 
+field.formatter.settings.entity_reference_inline_settings:
+  type: mapping
+  label: 'Entity reference inline formatter display format settings'
+  mapping:
+    show_basefields:
+      type: boolean
+      label: 'Whether basefields should be visible on the formatter settings'
diff --git a/core/lib/Drupal/Core/Field/Plugin/Field/FieldFormatter/EntityReferenceInlineSettingsFormatter.php b/core/lib/Drupal/Core/Field/Plugin/Field/FieldFormatter/EntityReferenceInlineSettingsFormatter.php
index c0fe36d..eadefcf 100644
--- a/core/lib/Drupal/Core/Field/Plugin/Field/FieldFormatter/EntityReferenceInlineSettingsFormatter.php
+++ b/core/lib/Drupal/Core/Field/Plugin/Field/FieldFormatter/EntityReferenceInlineSettingsFormatter.php
@@ -110,13 +110,8 @@ public function __construct($plugin_id, $plugin_definition, FieldDefinitionInter
    * {@inheritdoc}
    */
   public static function defaultSettings() {
-    return [
-      'field_name' => '',
-      'type' => '',
-      'settings' => [],
-      'label' => 'above',
-      'show_basefields' => FALSE,
-    ];
+
+    return parent::defaultSettings() + ['show_basefields' => FALSE];
   }
 
   /**
diff --git a/core/modules/field/src/Tests/EntityReference/EntityReferenceAdminTest.php b/core/modules/field/src/Tests/EntityReference/EntityReferenceAdminTest.php
index fa68cb6..ea45101 100644
--- a/core/modules/field/src/Tests/EntityReference/EntityReferenceAdminTest.php
+++ b/core/modules/field/src/Tests/EntityReference/EntityReferenceAdminTest.php
@@ -373,6 +373,7 @@ public function testAvailableFormatters() {
     $this->assertFieldSelectOptions('fields[field_' . $taxonomy_term_field_name . '][type]', [
       'entity_reference_label',
       'entity_reference_entity_id',
+      'entity_reference_inline_settings',
       'entity_reference_rss_category',
       'entity_reference_entity_view',
     ]);
@@ -384,6 +385,7 @@ public function testAvailableFormatters() {
       'author',
       'entity_reference_entity_id',
       'entity_reference_entity_view',
+      'entity_reference_inline_settings',
       'entity_reference_label',
     ]);
 
@@ -393,6 +395,7 @@ public function testAvailableFormatters() {
       'entity_reference_label',
       'entity_reference_entity_id',
       'entity_reference_entity_view',
+      'entity_reference_inline_settings',
     ]);
 
     // Test if Date Format Reference Field has the correct formatters.
@@ -401,6 +404,7 @@ public function testAvailableFormatters() {
     $this->assertFieldSelectOptions('fields[field_' . $date_format_field_name . '][type]', [
       'entity_reference_label',
       'entity_reference_entity_id',
+      'entity_reference_inline_settings',
     ]);
   }