diff --git a/django/core/files/storage.py b/django/core/files/storage.py
index a6498724eb..9a7d8793fc 100644
--- a/django/core/files/storage.py
+++ b/django/core/files/storage.py
@@ -240,9 +240,9 @@ class FileSystemStorage(Storage):
                         os.umask(old_umask)
                 else:
                     os.makedirs(directory)
-            except FileNotFoundError:
+            except FileExistsError:
                 # There's a race between os.path.exists() and os.makedirs().
-                # If os.makedirs() fails with FileNotFoundError, the directory
+                # If os.makedirs() fails with FileExistsError, the directory
                 # was created concurrently.
                 pass
         if not os.path.isdir(directory):
diff --git a/docs/releases/2.1.3.txt b/docs/releases/2.1.3.txt
index 72ec3e4a32..f4f33803bb 100644
--- a/docs/releases/2.1.3.txt
+++ b/docs/releases/2.1.3.txt
@@ -20,3 +20,7 @@ Bugfixes
 
 * Fixed a regression where cached foreign keys that use ``to_field`` were
   incorrectly cleared in ``Model.save()`` (:ticket:`29896`).
+
+* Fixed a regression in Django 2.0 where ``FileSystemStorage`` crashes with
+  ``FileExistsError`` if concurrent saves try to create the same directory
+  (:ticket:`29890`).
diff --git a/tests/file_storage/tests.py b/tests/file_storage/tests.py
index f3011749f8..8c50abc9b0 100644
--- a/tests/file_storage/tests.py
+++ b/tests/file_storage/tests.py
@@ -415,9 +415,9 @@ class FileStorageTests(SimpleTestCase):
                 real_makedirs(path)
             elif path == os.path.join(self.temp_dir, 'raced'):
                 real_makedirs(path)
-                raise FileNotFoundError()
-            elif path == os.path.join(self.temp_dir, 'error'):
                 raise FileExistsError()
+            elif path == os.path.join(self.temp_dir, 'error'):
+                raise PermissionError()
             else:
                 self.fail('unexpected argument %r' % path)
 
@@ -432,8 +432,8 @@ class FileStorageTests(SimpleTestCase):
             with self.storage.open('raced/test.file') as f:
                 self.assertEqual(f.read(), b'saved with race')
 
-            # Exceptions aside from FileNotFoundError are raised.
-            with self.assertRaises(FileExistsError):
+            # Exceptions aside from FileExistsError are raised.
+            with self.assertRaises(PermissionError):
                 self.storage.save('error/test.file', ContentFile('not saved'))
         finally:
             os.makedirs = real_makedirs