We reconsider the problem of f (R) theories of gravity coupled to Born-Infeld theory of electrodynamics formulated in a Palatini approach, where metric and connection are independent fields. By studying electrovacuum configurations in a static and spherically symmetric space-time, we find solutions which reduce to their Reissner-Nordström counterparts at large distances but undergo important non-perturbative modifications close to the center. Our new analysis reveals that the point-like singularity is replaced by a finite-size wormhole structure, which provides a geodesically complete and thus nonsingular space-time, despite the existence of curvature divergences at the wormhole throat. Implications of these results, in particular for the cosmic censorship conjecture, are discussed.