diff --git a/Cargo.lock b/Cargo.lock
index b82021405..79e65f0b2 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -3521,9 +3521,8 @@ dependencies = [
 
 [[package]]
 name = "frc42_dispatch"
-version = "5.0.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cfe63cf3ff3e332ef15fd19d95cffcb3fd2af14ccb3cb04abc730271c1362c4f"
+version = "5.1.0"
+source = "git+https://github.com/fridrik01/filecoin.git?branch=update-fvm-4.1#6437a0616e940ea3b5fce5f3be92ba466234d85d"
 dependencies = [
  "frc42_hasher",
  "frc42_macros",
@@ -3535,9 +3534,8 @@ dependencies = [
 
 [[package]]
 name = "frc42_hasher"
-version = "3.0.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "08a35e7214108f81cefc17b0466be01279f384faf913918a12dbc8528bb758a4"
+version = "3.1.0"
+source = "git+https://github.com/fridrik01/filecoin.git?branch=update-fvm-4.1#6437a0616e940ea3b5fce5f3be92ba466234d85d"
 dependencies = [
  "fvm_sdk",
  "fvm_shared",
@@ -3546,9 +3544,8 @@ dependencies = [
 
 [[package]]
 name = "frc42_macros"
-version = "3.0.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "6f50cd62b077775194bde67eef8076b31f915b9c099f3a7fd1a760363d65f145"
+version = "3.1.0"
+source = "git+https://github.com/fridrik01/filecoin.git?branch=update-fvm-4.1#6437a0616e940ea3b5fce5f3be92ba466234d85d"
 dependencies = [
  "blake2b_simd",
  "frc42_hasher",
@@ -3908,9 +3905,9 @@ dependencies = [
 
 [[package]]
 name = "fvm_sdk"
-version = "4.0.0"
+version = "4.1.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "258cfc9a2e5dcb28ffcadd4abed504893996d31238488a07ef7d2a6a6e80e1ec"
+checksum = "3c6c9e37f93b0a68c6bc2b431145f112331b9aed8428f2be7ae81d8cc0152a67"
 dependencies = [
  "byteorder",
  "cid",
diff --git a/Cargo.toml b/Cargo.toml
index 1024507ca..7d28dd322 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -155,8 +155,12 @@ ipc_actors_abis = { path = "contracts/binding" }
 # Vendored for cross-compilation, see https://github.com/cross-rs/cross/wiki/Recipes#openssl
 openssl = { version = "0.10", features = ["vendored"] }
 
-fvm = { version = "4.1.0", default-features = false }     # no opencl feature or it fails on CI
-fvm_shared = { version = "4.1.0", features = ["crypto"] }
+# NOTE: When upgrading the FVM it may cause our fendermint/actors/build.rs to fail as it can
+# pull in crates as transitive dependencies that do not support Wasm architector. If this
+# happens, try removing "crypto" feature from fvm_shared dependency in contracts/binding/Cargo.toml
+# and run `cargo build`. Then add the "crypto" feature back and run `cargo build` again.
+fvm = { version = "4.1.0", default-features = false } # no opencl feature or it fails on CI
+fvm_shared = { version = "4.1.0" }
 fvm_sdk = { version = "4.1.0" }
 
 fvm_ipld_blockstore = "0.2.0"
@@ -171,7 +175,7 @@ fvm_ipld_amt = "0.6.2"
 # fvm_ipld_encoding = { path = "../ref-fvm/ipld/encoding" }
 # fvm_ipld_car = { path = "../ref-fvm/ipld/car" }
 # fvm_ipld_hamt = { path = "../ref-fvm/ipld/hamt" }
-# fvm_shared = { path = "../ref-fvm/shared", features = ["crypto"] }
+# fvm_shared = { path = "../ref-fvm/shared" }
 
 # We are using the bundle for the builtin-actors dependency, and repeating DTO classes on our side,
 # to cut down the time it takes to compile everything. However, some projects have a "shared" part,
@@ -188,7 +192,8 @@ cid = { version = "0.10.1", default-features = false, features = [
   "std",
 ] }
 
-frc42_dispatch = "5.0.0"
+# We need a version of frc42_dispatch that has been updated to use FVM 4.1
+frc42_dispatch = { git = "https://github.com/fridrik01/filecoin.git", branch = "update-fvm-4.1" }
 
 # Using the same tendermint-rs dependency as tower-abci. From both we are interested in v037 modules.
 tower-abci = { version = "0.7" }