Degenerate n‐type InSb and InAs specimens are irradiated with fast reactor neutrons at a temperature below 6 K. The flux of thermal neutrons at the sample position is suppressed by a Cd and In shielding in order to avoid any transmutation doping. The transport properties of the irradiated semiconductors are studied by means of resistivity and Shubnikov‐de Haas effect measurements. An isochronal annealing program in the temperature range up to 350 K is performed subsequent to the irradiation. From the analysis of the conduction electron density, the transport scattering rate, and the inverse lifetime of the Landau levels it is concluded that in InSb a considerable annealing is possible at room temperature, whereas in InAs no major recovery is observed. The effect of fast neutron induced defects on the feasibility of neutron transmutation doping in InSb and InAs is discussed.