You are correct for currently registered MB counselors if you are referring to the membership Adult Application form. However the information sheet for a new badge must still be submitted (with additional certifications if required for the new badge) for approval.
The membership Adult Application and the Merit Badge Counselor Information sheet are two different forms.
220.127.116.11 Qualifications of Counselors
People serving as merit badge counselors must maintain registration with the Boy Scouts of America as merit badge counselors and be approved by their local council advancement committee for each of their badges. This includes those working at summer camp or in any other group instruction setting, or providing web-based opportunities.
18.104.22.168 Counselor Approvals and Limitations
The council advancement committee is responsible for approval of all merit badge counselors before they provide services, although it is acceptable to delegate authority for this function to districts. The process should not be rushed to the point where unqualified counselors are allowed to serve. The National Council places no limit on the number of merit badges an individual may be approved to counsel, except to the extent a person lacks skills and education in a given subject. The intent is for Scouts to learn from those with an appropriate level of expertise.
Merit badge counselors must submit the Merit Badge Counselor Information sheet, according to local council practices. The form must show each badge for which the counselor requests approval. Additions or subtractions may be submitted using the same form. It is permissible for councils to limit the number of badges that one person counsels. They must not do so, however, to the point where Scouts’ choices, especially in small or remote units, are so limited as to serve as a barrier to advancement. …
22.214.171.124 Registration and Reregistration
Merit badge counselors register at no fee, using the Boy Scouts of America’s standard adult registration form with position code 42. Designated members of the council or district advancement committee should provide the approval signature. The council advancement committee annually coordinates counselor reregistration. … Volunteers who are properly registered as merit badge counselors can renew annually without completing a BSA adult application; their names will appear on the district roster for renewal. Anyone who is currently unregistered, or who is registered in another position but also desires to serve as a merit badge counselor, must complete an adult application.