diff --git a/packages/mongo/asynchronous_cursor.js b/packages/mongo/asynchronous_cursor.js
index 0c2668560a0..53f1c643f1e 100644
--- a/packages/mongo/asynchronous_cursor.js
+++ b/packages/mongo/asynchronous_cursor.js
@@ -44,11 +44,14 @@ export class AsynchronousCursor {
     }
     try {
       this._pendingNext = this._dbCursor.next();
-      const result = await this._pendingNext;
-      this._pendingNext = null;
-      return result;
+      return await this._pendingNext;
     } catch (e) {
-      console.error(e);
+      // close() waits for a pending next(). One that fails while the cursor is closing ends the
+      // cursor, as close() intends; any other failure goes to the caller.
+      if (this._closing) {
+        return null;
+      }
+      throw e;
     } finally {
       this._pendingNext = null;
     }
@@ -96,10 +99,10 @@ export class AsynchronousCursor {
         resolve(this.close());
       }, timeoutMS);
 
-      // If the `_nextObjectPromise` returned first, cancel the timeout.
-      nextObjectPromise.finally(() => {
-        clearTimeout(timeoutId);
-      });
+      // If the `_nextObjectPromise` settled first, cancel the timeout. Its rejection reaches the
+      // caller through the race below.
+      const cancel = () => clearTimeout(timeoutId);
+      nextObjectPromise.then(cancel, cancel);
     });
 
     return Promise.race([nextObjectPromise, timeoutPromise]);
diff --git a/packages/mongo/package.js b/packages/mongo/package.js
index 3a1f2a68470..6f09c75b772 100644
--- a/packages/mongo/package.js
+++ b/packages/mongo/package.js
@@ -143,5 +143,6 @@ Package.onTest(function (api) {
   api.addFiles("tests/changestream_observe_driver_tests.js", "server");
   api.addFiles("tests/oplog_v2_converter_tests.js", "server");
   api.addFiles("tests/doc_fetcher_tests.js", "server");
+  api.addFiles("tests/asynchronous_cursor_tests.js", "server");
   api.addFiles("tests/collation_tests.js", ["client", "server"]);
 });
diff --git a/packages/mongo/tests/asynchronous_cursor_tests.js b/packages/mongo/tests/asynchronous_cursor_tests.js
new file mode 100644
index 00000000000..b4d924e40bf
--- /dev/null
+++ b/packages/mongo/tests/asynchronous_cursor_tests.js
@@ -0,0 +1,71 @@
+// A cursor read that fails rejects with the driver's error, so a caller can tell it from an empty
+// result (https://github.com/meteor/meteor/issues/14794).
+
+Tinytest.addAsync('asynchronous cursor - fetchAsync rejects when the read fails', async test => {
+  const collection = new Mongo.Collection(`asyncCursorFetch${test.id}`);
+  await collection.insertAsync({ a: 1 });
+
+  await test.throwsAsync(
+    () => collection.find({ $foo: 1 }).fetchAsync(),
+    /unknown top level operator/
+  );
+});
+
+Tinytest.addAsync('asynchronous cursor - findOneAsync rejects when the read fails', async test => {
+  const collection = new Mongo.Collection(`asyncCursorFindOne${test.id}`);
+  await collection.insertAsync({ a: 1 });
+
+  await test.throwsAsync(
+    () => collection.findOneAsync({ $foo: 1 }),
+    /unknown top level operator/
+  );
+});
+
+Tinytest.addAsync('asynchronous cursor - forEachAsync rejects when the read fails', async test => {
+  const collection = new Mongo.Collection(`asyncCursorForEach${test.id}`);
+  await collection.insertAsync({ a: 1 });
+
+  await test.throwsAsync(
+    () => collection.find({ $foo: 1 }).forEachAsync(() => {}),
+    /unknown top level operator/
+  );
+});
+
+Tinytest.addAsync('asynchronous cursor - a read that fails while the cursor closes ends it', async test => {
+  let failNext;
+  const cursor = asynchronousCursorWith(
+    test,
+    () => new Promise((resolve, reject) => { failNext = reject; })
+  );
+
+  const read = cursor._rawNextObjectPromise();
+  cursor._closing = true;
+  failNext(new Error('cursor killed'));
+
+  test.isTrue((await read) == null);
+});
+
+Tinytest.addAsync('asynchronous cursor - a timed read that fails rejects without an unhandled rejection', async test => {
+  const cursor = asynchronousCursorWith(test, () => Promise.reject(new Error('connection closed')));
+  const unhandled = [];
+  const onUnhandled = reason => unhandled.push(reason);
+  process.on('unhandledRejection', onUnhandled);
+
+  try {
+    await test.throwsAsync(() => cursor._nextObjectPromiseWithTimeout(10000), /connection closed/);
+    await new Promise(resolve => setTimeout(resolve, 50));
+
+    test.equal(unhandled.length, 0);
+  } finally {
+    process.off('unhandledRejection', onUnhandled);
+  }
+});
+
+// An AsynchronousCursor whose driver cursor answers next() with the given function.
+function asynchronousCursorWith(test, next) {
+  const collection = new Mongo.Collection(`asyncCursorStub${test.id}`);
+  const meteorCursor = collection.find();
+  const cursor = meteorCursor._mongo._createAsynchronousCursor(meteorCursor._cursorDescription);
+  cursor._dbCursor = { next, close() {}, rewind() {} };
+  return cursor;
+}