diff --git a/build/chip/fallback_last_known_good_time b/build/chip/fallback_last_known_good_time
new file mode 100644
index 00000000000000..2a9cae328a14db
--- /dev/null
+++ b/build/chip/fallback_last_known_good_time
@@ -0,0 +1 @@
+750561408
\ No newline at end of file
diff --git a/build/chip/write_build_time_header.py b/build/chip/write_build_time_header.py
index 7b421f19844c17..fbd8f87ce84d4b 100755
--- a/build/chip/write_build_time_header.py
+++ b/build/chip/write_build_time_header.py
@@ -17,11 +17,14 @@
 import os
 from datetime import datetime, timezone
 
+SCRIPT_DIR = os.path.abspath(os.path.dirname(__file__))
+FALLBACK_LKGT_FILENAME = os.path.abspath(os.path.join(SCRIPT_DIR, 'fallback_last_known_good_time'))
 
-def utc_time_in_matter_epoch_s():
+
+def utc_time_in_matter_epoch_s(time: datetime):
     """ Returns the time in matter epoch in s. """
     # Matter epoch is 0 hours, 0 minutes, 0 seconds on Jan 1, 2000 UTC
-    utc_matter = datetime.now(tz=timezone.utc) - datetime(2000, 1, 1, 0, 0, 0, 0, timezone.utc)
+    utc_matter = time - datetime(2000, 1, 1, 0, 0, 0, 0, timezone.utc)
     return int(utc_matter.total_seconds())
 
 
@@ -32,31 +35,48 @@ def __init__(self, output, define_name, define_val):
         self.define_val = define_val
 
 
-def GetOptions():
+def write_header(options):
+    with open(options.output, "w") as output_file:
+        output_file.write("// Generated by write_build_time_header.py\n")
+        output_file.write('#pragma once\n\n')
+
+        output_file.write(f'#define {options.define_name} {options.define_val}\n')
+
+
+def update_fallback_time_in_file():
+    with open(FALLBACK_LKGT_FILENAME, "w") as output_file:
+        output_file.write(str(utc_time_in_matter_epoch_s(datetime.now(tz=timezone.utc))))
+
+
+def main():
     parser = argparse.ArgumentParser()
     parser.add_argument('--output', help="Output header name (inside gen dir)")
     parser.add_argument('--gen-dir',
                         help="Path to root of generated file directory tree.")
+    parser.add_argument('--use-current-time', default=False, action='store_true',
+                        help="Set the LKGT to the current time. If this flag is not used, the LKGT is set to a hardcoded time.")
+    parser.add_argument('--update-fallback-time-in-file', default=False, action='store_true',
+                        help='Write the current UTC time out to the fallback file')
     cmdline_options = parser.parse_args()
 
+    if cmdline_options.update_fallback_time_in_file:
+        update_fallback_time_in_file()
+        return
+
     # The actual output file is inside the gen dir.
     output = os.path.join(cmdline_options.gen_dir, cmdline_options.output)
 
     define_name = 'CHIP_DEVICE_CONFIG_FIRMWARE_BUILD_TIME_MATTER_EPOCH_S'
-    build_time = utc_time_in_matter_epoch_s()
+    if cmdline_options.use_current_time:
+        build_time = utc_time_in_matter_epoch_s(datetime.now(tz=timezone.utc))
+    else:
+        with open(FALLBACK_LKGT_FILENAME, "r") as input_file:
+            build_time = int(input_file.read())
 
-    return Options(output=output,
+    opts = Options(output=output,
                    define_name=define_name,
                    define_val=str(build_time))
+    write_header(opts)
 
 
-def WriteHeader(options):
-    with open(options.output, "w") as output_file:
-        output_file.write("// Generated by write_build_time_header.py\n")
-        output_file.write('#pragma once\n\n')
-
-        output_file.write(f'#define {options.define_name} {options.define_val}\n')
-
-
-options = GetOptions()
-WriteHeader(options)
+main()
diff --git a/src/credentials/BUILD.gn b/src/credentials/BUILD.gn
index 4e4cb93fe9965c..0e23eb497cf702 100644
--- a/src/credentials/BUILD.gn
+++ b/src/credentials/BUILD.gn
@@ -20,6 +20,7 @@ import("${chip_root}/src/platform/device.gni")
 
 declare_args() {
   chip_build_example_creds = true
+  update_last_known_good_time = false
 }
 
 action("gen_build_time_header") {
@@ -35,6 +36,9 @@ action("gen_build_time_header") {
     "--gen-dir",
     rebase_path(include_dir, root_build_dir),
   ]
+  if (update_last_known_good_time) {
+    args += [ "--use-current-time" ]
+  }
 
   visibility = [ ":build_time_header" ]
 }