diff --git a/docs/regmap/adi_regmap_spi_engine.txt b/docs/regmap/adi_regmap_spi_engine.txt
index 846522dbe53..6ccd2c90d49 100644
--- a/docs/regmap/adi_regmap_spi_engine.txt
+++ b/docs/regmap/adi_regmap_spi_engine.txt
@@ -25,7 +25,7 @@ RO
 ENDFIELD
 
 FIELD
-[7:0] 0x03
+[7:0] 0x04
 VERSION_PATCH
 RO
 ENDFIELD
diff --git a/library/spi_engine/axi_spi_engine/axi_spi_engine.v b/library/spi_engine/axi_spi_engine/axi_spi_engine.v
index 2ba95080786..e233c43a8b6 100644
--- a/library/spi_engine/axi_spi_engine/axi_spi_engine.v
+++ b/library/spi_engine/axi_spi_engine/axi_spi_engine.v
@@ -133,7 +133,7 @@ module axi_spi_engine #(
   input [7:0] offload_sync_data
 );
 
-  localparam PCORE_VERSION = 'h010503;
+  localparam PCORE_VERSION = 'h010504;
   localparam S_AXI = 0;
   localparam UP_FIFO = 1;
 
diff --git a/library/spi_engine/spi_engine_execution/spi_engine_execution.v b/library/spi_engine/spi_engine_execution/spi_engine_execution.v
index c3ce9fc182b..5f2e72990e4 100644
--- a/library/spi_engine/spi_engine_execution/spi_engine_execution.v
+++ b/library/spi_engine/spi_engine_execution/spi_engine_execution.v
@@ -456,10 +456,15 @@ module spi_engine_execution #(
         wait_for_io <= 1'b0;
         transfer_active <= !last_transfer;
       end else if (transfer_active == 1'b1 && end_of_word == 1'b1) begin
-        if (last_transfer == 1'b1 || io_ready2 == 1'b0)
+        if (last_transfer == 1'b1 || io_ready2 == 1'b0) begin
           transfer_active <= 1'b0;
-        if (io_ready2 == 1'b0)
+        end
+        if (io_ready2 == 1'b0) begin
           wait_for_io <= 1'b1;
+        end
+      end else if (idle == 1'b1) begin
+        wait_for_io <= 1'b0;
+        transfer_active <= 1'b0;
       end
     end
   end