diff --git a/src/main/java/org/cryptomator/ui/vaultoptions/MasterkeyOptionsController.java b/src/main/java/org/cryptomator/ui/vaultoptions/MasterkeyOptionsController.java
index 67ae2f42d..ab6cb5104 100644
--- a/src/main/java/org/cryptomator/ui/vaultoptions/MasterkeyOptionsController.java
+++ b/src/main/java/org/cryptomator/ui/vaultoptions/MasterkeyOptionsController.java
@@ -9,11 +9,15 @@ import org.cryptomator.ui.forgetpassword.ForgetPasswordComponent;
 import org.cryptomator.ui.recoverykey.RecoveryKeyComponent;
 
 import javax.inject.Inject;
+import javafx.beans.property.BooleanProperty;
 import javafx.beans.property.SimpleBooleanProperty;
 import javafx.beans.property.SimpleObjectProperty;
 import javafx.beans.value.ObservableValue;
 import javafx.fxml.FXML;
 import javafx.stage.Stage;
+import java.nio.file.Files;
+
+import static org.cryptomator.common.Constants.MASTERKEY_FILENAME;
 
 @VaultOptionsScoped
 public class MasterkeyOptionsController implements FxController {
@@ -25,6 +29,7 @@ public class MasterkeyOptionsController implements FxController {
 	private final ForgetPasswordComponent.Builder forgetPasswordWindow;
 	private final KeychainManager keychain;
 	private final ObservableValue<Boolean> passwordSaved;
+	private final BooleanProperty masterkeyFileAvailable;
 
 
 	@Inject
@@ -40,6 +45,7 @@ public class MasterkeyOptionsController implements FxController {
 		} else {
 			this.passwordSaved = new SimpleBooleanProperty(false);
 		}
+		this.masterkeyFileAvailable = new SimpleBooleanProperty(Files.exists(vault.getPath().resolve(MASTERKEY_FILENAME)));
 	}
 
 	@FXML
@@ -70,4 +76,12 @@ public class MasterkeyOptionsController implements FxController {
 	public boolean isPasswordSaved() {
 		return passwordSaved.getValue();
 	}
+
+	public BooleanProperty masterkeyFileAvailableProperty() {
+		return masterkeyFileAvailable;
+	}
+
+	public boolean isMasterkeyFileAvailable() {
+		return masterkeyFileAvailable.get();
+	}
 }
diff --git a/src/main/resources/fxml/vault_options_masterkey.fxml b/src/main/resources/fxml/vault_options_masterkey.fxml
index a06244178..c295e2373 100644
--- a/src/main/resources/fxml/vault_options_masterkey.fxml
+++ b/src/main/resources/fxml/vault_options_masterkey.fxml
@@ -4,8 +4,12 @@
 <?import javafx.geometry.Insets?>
 <?import javafx.scene.control.Button?>
 <?import javafx.scene.control.Label?>
+<?import javafx.scene.layout.HBox?>
 <?import javafx.scene.layout.Region?>
+<?import javafx.scene.layout.StackPane?>
 <?import javafx.scene.layout.VBox?>
+<?import javafx.scene.shape.Circle?>
+<?import javafx.scene.Group?>
 <VBox xmlns:fx="http://javafx.com/fxml"
 	  xmlns="http://javafx.com/javafx"
 	  fx:controller="org.cryptomator.ui.vaultoptions.MasterkeyOptionsController"
@@ -15,7 +19,21 @@
 		<Insets topRightBottomLeft="12"/>
 	</padding>
 	<children>
-		<VBox spacing="6" alignment="CENTER">
+		<HBox spacing="12" visible="${!controller.masterkeyFileAvailable}" managed="${!controller.masterkeyFileAvailable}">
+			<padding>
+				<Insets bottom="12"/>
+			</padding>
+			<Group>
+				<StackPane>
+					<Circle styleClass="glyph-icon-primary" radius="18"/>
+					<FontAwesome5IconView styleClass="glyph-icon-white" glyph="INFO" glyphSize="18"/>
+				</StackPane>
+			</Group>
+			<HBox spacing="6" HBox.hgrow="ALWAYS">
+				<Label text="%vaultOptions.masterkey.missingMasterkeyFile" wrapText="true" HBox.hgrow="ALWAYS"/>
+			</HBox>
+		</HBox>
+		<VBox spacing="6" alignment="CENTER" disable="${!controller.masterkeyFileAvailable}">
 			<Button text="%vaultOptions.masterkey.changePasswordBtn" onAction="#changePassword" contentDisplay="LEFT" maxWidth="Infinity">
 				<graphic>
 					<FontAwesome5IconView glyph="KEY"/>
@@ -29,8 +47,8 @@
 			</Button>
 		</VBox>
 		<Region VBox.vgrow="ALWAYS"/>
-		<Label maxWidth="-Infinity" text="%vaultOptions.masterkey.recoveryKeyExplanation" wrapText="true"/>
-		<VBox spacing="6" alignment="CENTER">
+		<Label maxWidth="-Infinity" text="%vaultOptions.masterkey.recoveryKeyExplanation" wrapText="true" disable="${!controller.masterkeyFileAvailable}"/>
+		<VBox spacing="6" alignment="CENTER" disable="${!controller.masterkeyFileAvailable}">
 			<Button text="%vaultOptions.masterkey.showRecoveryKeyBtn" onAction="#showRecoveryKey" contentDisplay="LEFT" maxWidth="Infinity">
 				<graphic>
 					<FontAwesome5IconView glyph="EYE"/>
diff --git a/src/main/resources/i18n/strings.properties b/src/main/resources/i18n/strings.properties
index 3780b9ef4..59403cc3d 100644
--- a/src/main/resources/i18n/strings.properties
+++ b/src/main/resources/i18n/strings.properties
@@ -522,6 +522,7 @@ vaultOptions.masterkey.forgetSavedPasswordBtn=Forget Saved Password
 vaultOptions.masterkey.recoveryKeyExplanation=A recovery key is your only means to restore access to a vault if you lose your password.
 vaultOptions.masterkey.showRecoveryKeyBtn=Display Recovery Key
 vaultOptions.masterkey.recoverPasswordBtn=Reset Password
+vaultOptions.masterkey.missingMasterkeyFile=These options are only available if the masterkey file is present in the vault directory.
 ## Hub
 vaultOptions.hub=Recovery
 vaultOptions.hub.convertInfo=You can use the recovery key to convert this Hub vault to a password-based vault in an emergency.