I’m updating my tax structure. Will I have to create a new account and go through the identity and address verification process with Google?

Once your application has been submitted as a Business or Individual, you can't change your account type. If you need a different account type, you'll have to close your current account and open a new account with your preferred account type. If Google requires you to verify your identity during this process, you’ll be notified in the ‘Payments’ section of your new GAM account.