diff --git a/src/Assets/AssetReferenceUpdater.php b/src/Assets/AssetReferenceUpdater.php
index e0e86c1c77f..2eff491fa02 100644
--- a/src/Assets/AssetReferenceUpdater.php
+++ b/src/Assets/AssetReferenceUpdater.php
@@ -4,6 +4,7 @@
 
 use Statamic\Data\DataReferenceUpdater;
 use Statamic\Facades\AssetContainer;
+use Statamic\Fieldtypes\UpdatesReferences;
 use Statamic\Support\Arr;
 
 class AssetReferenceUpdater extends DataReferenceUpdater
@@ -34,6 +35,7 @@ public function filterByContainer(string $container)
     protected function recursivelyUpdateFields($fields, $dottedPrefix = null)
     {
         $this
+            ->updateCustomFieldtypeValues($fields, $dottedPrefix)
             ->updateAssetsFieldValues($fields, $dottedPrefix)
             ->updateLinkFieldValues($fields, $dottedPrefix)
             ->updateBardFieldValues($fields, $dottedPrefix)
@@ -41,6 +43,49 @@ protected function recursivelyUpdateFields($fields, $dottedPrefix = null)
             ->updateNestedFieldValues($fields, $dottedPrefix);
     }
 
+    /**
+     * Update custom fieldtype values that have asset references.
+     *
+     * @param  \Illuminate\Support\Collection  $fields
+     * @param  null|string  $dottedPrefix
+     * @return $this
+     */
+    protected function updateCustomFieldtypeValues($fields, $dottedPrefix)
+    {
+        $fields
+            ->filter(fn ($field) => in_array(UpdatesReferences::class, class_uses_recursive($field->fieldtype())))
+            ->each(function ($field) use ($dottedPrefix) {
+                $data = $this->item->data()->all();
+                $dottedKey = $dottedPrefix.$field->handle();
+                $oldData = Arr::get($data, $dottedKey);
+
+                if (! $oldData) {
+                    return;
+                }
+
+                $newData = $field->fieldtype()->replaceAssetReferences(
+                    $oldData,
+                    $this->newValue,
+                    $this->originalValue
+                );
+
+                if (json_encode($oldData) === json_encode($newData)) {
+                    return;
+                }
+
+                if ($newData === null && $this->isRemovingValue()) {
+                    Arr::forget($data, $dottedKey);
+                } else {
+                    Arr::set($data, $dottedKey, $newData);
+                }
+
+                $this->item->data($data);
+                $this->updated = true;
+            });
+
+        return $this;
+    }
+
     /**
      * Update assets field values.
      *
diff --git a/src/Data/DataReferenceUpdater.php b/src/Data/DataReferenceUpdater.php
index 8c5cc343a5b..4053187bc83 100644
--- a/src/Data/DataReferenceUpdater.php
+++ b/src/Data/DataReferenceUpdater.php
@@ -3,6 +3,7 @@
 namespace Statamic\Data;
 
 use Statamic\Fields\Fields;
+use Statamic\Fieldtypes\UpdatesReferences;
 use Statamic\Git\Subscriber as GitSubscriber;
 use Statamic\Support\Arr;
 
@@ -107,9 +108,42 @@ protected function updateNestedFieldValues($fields, $dottedPrefix)
                 $this->{$method}($field, $dottedKey);
             });
 
+        // Handle custom fieldtypes with nested fields
+        $fields
+            ->filter(fn ($field) => in_array(UpdatesReferences::class, class_uses_recursive($field->fieldtype())))
+            ->each(function ($field) use ($dottedPrefix) {
+                $this->updateNestedFieldsInCustomFieldtype($field, $dottedPrefix);
+            });
+
         return $this;
     }
 
+    /**
+     * Update nested fields in custom fieldtype.
+     *
+     * @param  \Statamic\Fields\Field  $field
+     * @param  null|string  $dottedPrefix
+     */
+    protected function updateNestedFieldsInCustomFieldtype($field, $dottedPrefix)
+    {
+        $fieldKey = $dottedPrefix.$field->handle();
+        $fieldData = Arr::get($this->item->data()->all(), $fieldKey);
+
+        if (! $fieldData) {
+            return;
+        }
+
+        $fieldtype = $field->fieldtype();
+
+        $fieldtype->processNestedFieldsForReferences(
+            $fieldData,
+            function ($nestedFields, $relativePrefix) use ($fieldKey) {
+                $absolutePrefix = $fieldKey.'.'.$relativePrefix;
+                $this->recursivelyUpdateFields($nestedFields->all(), $absolutePrefix);
+            }
+        );
+    }
+
     /**
      * Update replicator field children.
      *
diff --git a/src/Fieldtypes/UpdatesReferences.php b/src/Fieldtypes/UpdatesReferences.php
new file mode 100644
index 00000000000..025cf671b94
--- /dev/null
+++ b/src/Fieldtypes/UpdatesReferences.php
@@ -0,0 +1,136 @@
+<?php
+
+namespace Statamic\Fieldtypes;
+
+use Statamic\Fields\Fields;
+
+/**
+ * Trait for custom fieldtypes to participate in reference updates (assets, terms, etc.).
+ *
+ * Override only the methods you need:
+ * - replaceAssetReferences() for direct asset references
+ * - replaceTermReferences() for direct term references
+ * - processNestedFieldsForReferences() for nested Statamic fields
+ */
+trait UpdatesReferences
+{
+    /**
+     * Replace asset references in the fieldtype's data.
+     * Override this if your fieldtype stores direct asset references.
+     *
+     * @param  mixed  $data  Current field data
+     * @param  string|null  $newValue  New asset path (null if removing)
+     * @param  string  $oldValue  Old asset path
+     * @return mixed  Modified data (or null to remove field value)
+     */
+    public function replaceAssetReferences($data, $newValue, $oldValue)
+    {
+        return $data;
+    }
+
+    /**
+     * Replace term references in the fieldtype's data.
+     * Override this if your fieldtype stores direct term references.
+     *
+     * @param  mixed  $data  Current field data
+     * @param  string|null  $newValue  New term slug (null if removing)
+     * @param  string  $oldValue  Old term slug
+     * @return mixed  Modified data (or null to remove field value)
+     */
+    public function replaceTermReferences($data, $newValue, $oldValue)
+    {
+        return $data;
+    }
+
+    /**
+     * Process nested fields for reference updates.
+     * Override this if your fieldtype contains nested Statamic fields.
+     *
+     * @param  mixed  $data  Current field data
+     * @param  callable  $processFields  fn(Fields $fields, string $relativeDottedPrefix): void
+     */
+    public function processNestedFieldsForReferences($data, callable $processFields)
+    {
+        // Default: no nested fields to process
+    }
+
+    /**
+     * Helper: Process fields for a single (group-like) structure.
+     * Resulting prefix: ""
+     *
+     * @param  callable  $processFields
+     * @param  array|string  $fieldsConfig
+     */
+    protected function processSingleNestedFields(callable $processFields, $fieldsConfig)
+    {
+        $fields = $this->resolveFieldsConfigForReferenceUpdates($fieldsConfig);
+        $processFields($fields, '');
+    }
+
+    /**
+     * Helper: Process fields for an array structure at root level.
+     * Resulting prefix: "0.", "1.", "2."...
+     *
+     * @param  mixed  $data
+     * @param  callable  $processFields
+     * @param  array|string  $fieldsConfig
+     */
+    protected function processArrayNestedFields($data, callable $processFields, $fieldsConfig)
+    {
+        $fields = $this->resolveFieldsConfigForReferenceUpdates($fieldsConfig);
+
+        foreach (array_keys($data ?? []) as $idx) {
+            $processFields($fields, "{$idx}.");
+        }
+    }
+
+    /**
+     * Helper: Process fields for an array nested under a specific key.
+     * Resulting prefix: "{key}.0.", "{key}.1."...
+     *
+     * @param  mixed  $data
+     * @param  callable  $processFields
+     * @param  string  $key
+     * @param  array|string  $fieldsConfig
+     */
+    protected function processArrayNestedFieldsAtKey($data, callable $processFields, $key, $fieldsConfig)
+    {
+        $fields = $this->resolveFieldsConfigForReferenceUpdates($fieldsConfig);
+        $arrayData = $data[$key] ?? [];
+
+        foreach (array_keys($arrayData) as $idx) {
+            $processFields($fields, "{$key}.{$idx}.");
+        }
+    }
+
+    /**
+     * Helper: Process fields for a single structure nested under a key.
+     * Resulting prefix: "{key}."
+     *
+     * @param  callable  $processFields
+     * @param  string  $key
+     * @param  array|string  $fieldsConfig
+     */
+    protected function processSingleNestedFieldsAtKey(callable $processFields, $key, $fieldsConfig)
+    {
+        $fields = $this->resolveFieldsConfigForReferenceUpdates($fieldsConfig);
+        $processFields($fields, "{$key}.");
+    }
+
+    /**
+     * Resolve fields config to Fields instance.
+     *
+     * @param  array|string  $fieldsConfig
+     * @return \Statamic\Fields\Fields
+     */
+    private function resolveFieldsConfigForReferenceUpdates($fieldsConfig)
+    {
+        if (is_string($fieldsConfig)) {
+            $config = $this->config($fieldsConfig);
+        } else {
+            $config = $fieldsConfig;
+        }
+
+        return new Fields($config ?? []);
+    }
+}
diff --git a/src/Taxonomies/TermReferenceUpdater.php b/src/Taxonomies/TermReferenceUpdater.php
index 633ccfaf405..dd3e1de3438 100644
--- a/src/Taxonomies/TermReferenceUpdater.php
+++ b/src/Taxonomies/TermReferenceUpdater.php
@@ -3,6 +3,7 @@
 namespace Statamic\Taxonomies;
 
 use Statamic\Data\DataReferenceUpdater;
+use Statamic\Fieldtypes\UpdatesReferences;
 use Statamic\Support\Arr;
 
 class TermReferenceUpdater extends DataReferenceUpdater
@@ -38,11 +39,55 @@ public function filterByTaxonomy(string $taxonomy)
     protected function recursivelyUpdateFields($fields, $dottedPrefix = null)
     {
         $this
+            ->updateCustomFieldtypeValues($fields, $dottedPrefix)
             ->updateTermsFieldValues($fields, $dottedPrefix)
             ->updateScopedTermsFieldValues($fields, $dottedPrefix)
             ->updateNestedFieldValues($fields, $dottedPrefix);
     }
 
+    /**
+     * Update custom fieldtype values that have term references.
+     *
+     * @param  \Illuminate\Support\Collection  $fields
+     * @param  null|string  $dottedPrefix
+     * @return $this
+     */
+    protected function updateCustomFieldtypeValues($fields, $dottedPrefix)
+    {
+        $fields
+            ->filter(fn ($field) => in_array(UpdatesReferences::class, class_uses_recursive($field->fieldtype())))
+            ->each(function ($field) use ($dottedPrefix) {
+                $data = $this->item->data()->all();
+                $dottedKey = $dottedPrefix.$field->handle();
+                $oldData = Arr::get($data, $dottedKey);
+
+                if (! $oldData) {
+                    return;
+                }
+
+                $newData = $field->fieldtype()->replaceTermReferences(
+                    $oldData,
+                    $this->newValue,
+                    $this->originalValue
+                );
+
+                if (json_encode($oldData) === json_encode($newData)) {
+                    return;
+                }
+
+                if ($newData === null && $this->isRemovingValue()) {
+                    Arr::forget($data, $dottedKey);
+                } else {
+                    Arr::set($data, $dottedKey, $newData);
+                }
+
+                $this->item->data($data);
+                $this->updated = true;
+            });
+
+        return $this;
+    }
+
     /**
      * Update terms field values.
      *