diff --git a/CHANGELOG.md b/CHANGELOG.md
index ea38b4b..dcf60cd 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Changelog
 
+## 3.0.1
+
+#### Trivial
+
+  - Add overloads on `upsert`, `aupsert`, `update`, and `aupdate` to improve type-checking on `returning=...` by [@max-muoto](https://github.com/max-muoto) in [#40](https://github.com/Opus10/django-pgbulk/pull/40/).
+
 ## 3.0.0
 
 #### Breaking Changes
diff --git a/pgbulk/core.py b/pgbulk/core.py
index 038e644..1cd8be0 100644
--- a/pgbulk/core.py
+++ b/pgbulk/core.py
@@ -11,6 +11,7 @@
     TypeVar,
     Union,
     cast,
+    overload,
 )
 
 from asgiref.sync import sync_to_async
@@ -63,7 +64,6 @@ def _psycopg_version() -> Tuple[int, int, int]:
 
 
 if psycopg_maj_version == 2:
-    from psycopg2.extensions import AsIs as Literal  # type: ignore
     from psycopg2.extensions import quote_ident  # type: ignore
 elif psycopg_maj_version == 3:
     import psycopg.adapt  # type: ignore
@@ -598,6 +598,42 @@ def _update(
     return updated if returning else None
 
 
+@overload
+def update(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    update_fields: Union[List[str], None] = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Union[List[str], Literal[True]] = ...,
+    ignore_unchanged: bool = False,
+) -> List["Row"]: ...
+
+
+@overload
+def update(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    update_fields: Union[List[str], None] = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Literal[False] = False,
+    ignore_unchanged: bool = False,
+) -> None: ...
+
+
+@overload
+def update(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    update_fields: Union[List[str], None] = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Union[List[str], bool] = False,
+    ignore_unchanged: bool = False,
+) -> Union[List["Row"], None]: ...
+
+
 def update(
     queryset: QuerySet[_M],
     model_objs: Iterable[_M],
@@ -641,6 +677,42 @@ def update(
         )
 
 
+@overload
+async def aupdate(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    update_fields: Union[List[str], None] = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Union[List[str], Literal[True]] = ...,
+    ignore_unchanged: bool = False,
+) -> List["Row"]: ...
+
+
+@overload
+async def aupdate(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    update_fields: Union[List[str], None] = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Literal[False] = False,
+    ignore_unchanged: bool = False,
+) -> None: ...
+
+
+@overload
+async def aupdate(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    update_fields: Union[List[str], None] = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Union[List[str], bool] = False,
+    ignore_unchanged: bool = False,
+) -> Union[List["Row"], None]: ...
+
+
 async def aupdate(
     queryset: QuerySet[_M],
     model_objs: Iterable[_M],
@@ -670,6 +742,45 @@ async def aupdate(
     )
 
 
+@overload
+def upsert(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    unique_fields: List[str],
+    update_fields: UpdateFieldsTypeDef = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Union[List[str], Literal[True]] = ...,
+    ignore_unchanged: bool = False,
+) -> UpsertResult: ...
+
+
+@overload
+def upsert(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    unique_fields: List[str],
+    update_fields: UpdateFieldsTypeDef = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Literal[False] = False,
+    ignore_unchanged: bool = False,
+) -> None: ...
+
+
+@overload
+def upsert(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    unique_fields: List[str],
+    update_fields: UpdateFieldsTypeDef = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Union[List[str], bool] = False,
+    ignore_unchanged: bool = False,
+) -> Union[UpsertResult, None]: ...
+
+
 def upsert(
     queryset: QuerySet[_M],
     model_objs: Iterable[_M],
@@ -724,6 +835,45 @@ def upsert(
         )
 
 
+@overload
+async def aupsert(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    unique_fields: List[str],
+    update_fields: UpdateFieldsTypeDef = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Union[List[str], Literal[True]] = ...,
+    ignore_unchanged: bool = False,
+) -> UpsertResult: ...
+
+
+@overload
+async def aupsert(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    unique_fields: List[str],
+    update_fields: UpdateFieldsTypeDef = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Literal[False] = False,
+    ignore_unchanged: bool = False,
+) -> None: ...
+
+
+@overload
+async def aupsert(
+    queryset: QuerySet[_M],
+    model_objs: Iterable[_M],
+    unique_fields: List[str],
+    update_fields: UpdateFieldsTypeDef = None,
+    *,
+    exclude: Union[List[str], None] = None,
+    returning: Union[List[str], bool] = False,
+    ignore_unchanged: bool = False,
+) -> Union[UpsertResult, None]: ...
+
+
 async def aupsert(
     queryset: QuerySet[_M],
     model_objs: Iterable[_M],
diff --git a/pyproject.toml b/pyproject.toml
index 165cd29..7e9bdd8 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -27,7 +27,7 @@ packages = [
 exclude = [
   "*/tests/"
 ]
-version = "3.0.0"
+version = "3.0.1"
 description = "Native Postgres update, upsert, and copy operations."
 authors = ["Wes Kendall"]
 classifiers = [