Mike Berkens wrote an important post today about keeping your Whois information current and updated. ICANN regulations require that Whois information is accurate, and if the information isn’t accurate, there is a chance that your domain name could possibly be taken. There are also many legal reasons to do so, which Mike outlines in his post. It just makes sense to keep your information updated, and if you are worried about spam emails or privacy, just buy the privacy guard.
In this vein, I think it’s also important to note that some UDRP panels have ruled that a change in registration information can be seen as a brand new registration. One recent case (although it didn’t really impact the decision) was on the BME.com case, which the respondent lost. The respondent had changed his Whois information (between his own entities), and they still cited this changing Whois information.
In addition to this issue, Godaddy also seems to still lock domain names for 60 days when the Whois information is updated. While this can usually be remedied somewhat quickly if you contact them, it is a nuisance.
Yes, maintaining your valid Whois information is most definitely important – especially if a signficant event has impacted it (ended partnership, bankruptcy, company formation, divorce…etc). However, keep in mind that changing your Whois information could put your domain name at risk depending on who is monitoring your Whois listing.