diff --git a/src/Configuration.KeyPerFile/src/KeyPerFileConfigurationProvider.cs b/src/Configuration.KeyPerFile/src/KeyPerFileConfigurationProvider.cs
index 13541110e6..2e33b9dfcd 100644
--- a/src/Configuration.KeyPerFile/src/KeyPerFileConfigurationProvider.cs
+++ b/src/Configuration.KeyPerFile/src/KeyPerFileConfigurationProvider.cs
@@ -31,12 +31,13 @@ namespace Microsoft.Extensions.Configuration.KeyPerFile
         /// </summary>
         public override void Load()
         {
-            Data = new Dictionary<string, string>(StringComparer.OrdinalIgnoreCase);
+            var data = new Dictionary<string, string>(StringComparer.OrdinalIgnoreCase);
 
             if (Source.FileProvider == null)
             {
                 if (Source.Optional)
                 {
+                    Data = data;
                     return;
                 }
 
@@ -61,10 +62,12 @@ namespace Microsoft.Extensions.Configuration.KeyPerFile
                 {
                     if (Source.IgnoreCondition == null || !Source.IgnoreCondition(file.Name))
                     {
-                        Data.Add(NormalizeKey(file.Name), TrimNewLine(streamReader.ReadToEnd()));
+                        data.Add(NormalizeKey(file.Name), TrimNewLine(streamReader.ReadToEnd()));
                     }
                 }
             }
+
+            Data = data;
         }
 
         private string GetDirectoryName()
diff --git a/src/Configuration.KeyPerFile/test/KeyPerFileTests.cs b/src/Configuration.KeyPerFile/test/KeyPerFileTests.cs
index 4de528c011..838e62222d 100644
--- a/src/Configuration.KeyPerFile/test/KeyPerFileTests.cs
+++ b/src/Configuration.KeyPerFile/test/KeyPerFileTests.cs
@@ -6,6 +6,8 @@ using System.Collections;
 using System.Collections.Generic;
 using System.IO;
 using System.Text;
+using System.Threading;
+using System.Threading.Tasks;
 using Microsoft.Extensions.FileProviders;
 using Microsoft.Extensions.Primitives;
 using Xunit;
@@ -179,6 +181,47 @@ namespace Microsoft.Extensions.Configuration.KeyPerFile.Test
             Assert.Equal("SecretValue1", config["ignore.Secret1"]);
             Assert.Equal("SecretValue2", config["Secret2"]);
         }
+
+        [Fact]
+        public void BindingDoesNotThrowIfReloadedDuringBinding()
+        {
+            var testFileProvider = new TestFileProvider(
+                new TestFile("Number", "-2"),
+                new TestFile("Text", "Foo"));
+
+            var config = new ConfigurationBuilder()
+                .AddKeyPerFile(o => o.FileProvider = testFileProvider)
+                .Build();
+
+            MyOptions options = null;
+
+            using (var cts = new CancellationTokenSource(TimeSpan.FromMilliseconds(250)))
+            {
+                void ReloadLoop()
+                {
+                    while (!cts.IsCancellationRequested)
+                    {
+                        config.Reload();
+                    }
+                }
+
+                _ = Task.Run(ReloadLoop);
+
+                while (!cts.IsCancellationRequested)
+                {
+                    options = config.Get<MyOptions>();
+                }
+            }
+
+            Assert.Equal(-2, options.Number);
+            Assert.Equal("Foo", options.Text);
+        }
+
+        private sealed class MyOptions
+        {
+            public int Number { get; set; }
+            public string Text { get; set; }
+        }
     }
 
     class TestFileProvider : IFileProvider