A multi-tier memory device includes a first tier structure overlying a substrate and containing a first alternating stack of first insulating layers and first electrically conductive layers, and first memory stack structures each including a first memory film and a first vertical semiconductor channel, a source line overlying the first tier structure, and a second tier structure overlying the source line and containing a second alternating stack of second insulating layers and second electrically conductive layers, and second memory stack structures each including a second memory film and a second vertical semiconductor channel.