diff --git a/builder/amazon/common/step_run_spot_instance.go b/builder/amazon/common/step_run_spot_instance.go
index 210498eef..2f454b7c0 100644
--- a/builder/amazon/common/step_run_spot_instance.go
+++ b/builder/amazon/common/step_run_spot_instance.go
@@ -210,6 +210,15 @@ func (s *StepRunSpotInstance) Run(ctx context.Context, state multistep.StateBag)
 	// instance yet
 	ec2Tags.Report(ui)
 
+	volumeTags, err := TagMap(s.VolumeTags).EC2Tags(s.Ctx, s.Region, state)
+	if err != nil {
+		err := fmt.Errorf("Error generating volume tags: %s", err)
+		state.Put("error", err)
+		ui.Error(err.Error())
+		return multistep.ActionHalt
+	}
+	volumeTags.Report(ui)
+
 	spotOptions := ec2.LaunchTemplateSpotMarketOptionsRequest{}
 	// The default is to set the maximum price to the OnDemand price.
 	if s.SpotPrice != "auto" {
@@ -262,8 +271,28 @@ func (s *StepRunSpotInstance) Run(ctx context.Context, state multistep.StateBag)
 		}
 	}
 
+	if len(ec2Tags) > 0 {
+		launchTemplate.LaunchTemplateData.TagSpecifications = append(
+			launchTemplate.LaunchTemplateData.TagSpecifications,
+			&ec2.LaunchTemplateTagSpecificationRequest{
+				ResourceType: aws.String("instance"),
+				Tags:         ec2Tags,
+			},
+		)
+	}
+
+	if len(volumeTags) > 0 {
+		launchTemplate.LaunchTemplateData.TagSpecifications = append(
+			launchTemplate.LaunchTemplateData.TagSpecifications,
+			&ec2.LaunchTemplateTagSpecificationRequest{
+				ResourceType: aws.String("volume"),
+				Tags:         volumeTags,
+			},
+		)
+	}
+
 	// Tell EC2 to create the template
-	_, err = ec2conn.CreateLaunchTemplate(launchTemplate)
+	createLaunchTemplateOutput, err := ec2conn.CreateLaunchTemplate(launchTemplate)
 	if err != nil {
 		err := fmt.Errorf("Error creating launch template for spot instance: %s", err)
 		state.Put("error", err)
@@ -271,6 +300,9 @@ func (s *StepRunSpotInstance) Run(ctx context.Context, state multistep.StateBag)
 		return multistep.ActionHalt
 	}
 
+	launchTemplateId := createLaunchTemplateOutput.LaunchTemplate.LaunchTemplateId
+	ui.Message(fmt.Sprintf("Created Spot Fleet launch template: %s", *launchTemplateId))
+
 	// Add overrides for each user-provided instance type
 	var overrides []*ec2.FleetLaunchTemplateOverridesRequest
 	for _, instanceType := range s.SpotInstanceTypes {
@@ -437,16 +469,6 @@ func (s *StepRunSpotInstance) Run(ctx context.Context, state multistep.StateBag)
 
 	if len(volumeIds) > 0 && len(s.VolumeTags) > 0 {
 		ui.Say("Adding tags to source EBS Volumes")
-
-		volumeTags, err := TagMap(s.VolumeTags).EC2Tags(s.Ctx, s.Region, state)
-		if err != nil {
-			err := fmt.Errorf("Error tagging source EBS Volumes on %s: %s", *instance.InstanceId, err)
-			state.Put("error", err)
-			ui.Error(err.Error())
-			return multistep.ActionHalt
-		}
-		volumeTags.Report(ui)
-
 		_, err = ec2conn.CreateTags(&ec2.CreateTagsInput{
 			Resources: volumeIds,
 			Tags:      volumeTags,
diff --git a/builder/amazon/common/step_run_spot_instance_test.go b/builder/amazon/common/step_run_spot_instance_test.go
index a30bc4702..71caa4bd3 100644
--- a/builder/amazon/common/step_run_spot_instance_test.go
+++ b/builder/amazon/common/step_run_spot_instance_test.go
@@ -190,7 +190,7 @@ func (m *runSpotEC2ConnMock) CreateTags(req *ec2.CreateTagsInput) (*ec2.CreateTa
 	}
 }
 
-func defaultEc2Mock(instanceId, spotRequestId, volumeId *string) *runSpotEC2ConnMock {
+func defaultEc2Mock(instanceId, spotRequestId, volumeId, launchTemplateId *string) *runSpotEC2ConnMock {
 	instance := &ec2.Instance{
 		InstanceId:            instanceId,
 		SpotInstanceRequestId: spotRequestId,
@@ -205,8 +205,10 @@ func defaultEc2Mock(instanceId, spotRequestId, volumeId *string) *runSpotEC2Conn
 	return &runSpotEC2ConnMock{
 		CreateLaunchTemplateFn: func(in *ec2.CreateLaunchTemplateInput) (*ec2.CreateLaunchTemplateOutput, error) {
 			return &ec2.CreateLaunchTemplateOutput{
-				LaunchTemplate: nil,
-				Warning:        nil,
+				LaunchTemplate: &ec2.LaunchTemplate{
+					LaunchTemplateId: launchTemplateId,
+				},
+				Warning: nil,
 			}, nil
 		},
 		CreateFleetFn: func(*ec2.CreateFleetInput) (*ec2.CreateFleetOutput, error) {
@@ -237,7 +239,8 @@ func TestRun(t *testing.T) {
 	instanceId := aws.String("test-instance-id")
 	spotRequestId := aws.String("spot-id")
 	volumeId := aws.String("volume-id")
-	ec2Mock := defaultEc2Mock(instanceId, spotRequestId, volumeId)
+	launchTemplateId := aws.String("launchTemplateId")
+	ec2Mock := defaultEc2Mock(instanceId, spotRequestId, volumeId, launchTemplateId)
 
 	uiMock := packersdk.TestUi(t)
 
@@ -329,7 +332,8 @@ func TestRun_NoSpotTags(t *testing.T) {
 	instanceId := aws.String("test-instance-id")
 	spotRequestId := aws.String("spot-id")
 	volumeId := aws.String("volume-id")
-	ec2Mock := defaultEc2Mock(instanceId, spotRequestId, volumeId)
+	launchTemplateId := aws.String("lt-id")
+	ec2Mock := defaultEc2Mock(instanceId, spotRequestId, volumeId, launchTemplateId)
 
 	uiMock := packersdk.TestUi(t)