This paper presents an online parameter identification method for interior permanent magnet synchronous machines with nonlinear magnetics. Usually model based control schemes are used to ensure dynamic, stable and accurate control. These schemes contain machine models with offline measured parameters that are stored in lookup tables. Extensive offline parametrization can be avoided when parameters are obtained online during regular drive operation. The proposed online parameter identification method enables fast identification of differential inductances and flux linkages within the short duration of two control periods using manipulated reference currents. Thereby, online identification of the parameter lookup tables and self-commissioning of deadbeat controllers is possible.