diff --git a/src/libs/actions/BankAccounts.js b/src/libs/actions/BankAccounts.js
index 66e04cd1e657..53fe6511b5d1 100644
--- a/src/libs/actions/BankAccounts.js
+++ b/src/libs/actions/BankAccounts.js
@@ -276,6 +276,22 @@ function updateCompanyInformationForBankAccount(bankAccount) {
     API.write('UpdateCompanyInformationForBankAccount', bankAccount, getVBBADataForOnyx());
 }
 
+/**
+ * Add beneficial owners for the bank account, accept the ACH terms and conditions and verify the accuracy of the information provided
+ *
+ * @param {Object} params
+ *
+ * // ACH Contract Step
+ * @param {Boolean} [params.ownsMoreThan25Percent]
+ * @param {Boolean} [params.hasOtherBeneficialOwners]
+ * @param {Boolean} [params.acceptTermsAndConditions]
+ * @param {Boolean} [params.certifyTrueInformation]
+ * @param {String}  [params.beneficialOwners]
+ */
+function updateBeneficialOwnersForBankAccount(params) {
+    API.write('UpdateBeneficialOwnersForBankAccount', {...params}, getVBBADataForOnyx());
+}
+
 /**
  * Create the bank account with manually entered data.
  *
@@ -304,6 +320,7 @@ export {
     updatePersonalInformationForBankAccount,
     validateBankAccount,
     updateCompanyInformationForBankAccount,
+    updateBeneficialOwnersForBankAccount,
     connectBankAccountWithPlaid,
     updatePlaidData,
 };
diff --git a/src/pages/ReimbursementAccount/ACHContractStep.js b/src/pages/ReimbursementAccount/ACHContractStep.js
index 743602cfa569..a5b131922ac9 100644
--- a/src/pages/ReimbursementAccount/ACHContractStep.js
+++ b/src/pages/ReimbursementAccount/ACHContractStep.js
@@ -4,6 +4,7 @@ import React from 'react';
 import PropTypes from 'prop-types';
 import {View} from 'react-native';
 import {withOnyx} from 'react-native-onyx';
+import * as store from '../../libs/actions/ReimbursementAccount/store';
 import Text from '../../components/Text';
 import HeaderWithCloseButton from '../../components/HeaderWithCloseButton';
 import styles from '../../styles/styles';
@@ -142,6 +143,8 @@ class ACHContractStep extends React.Component {
             return;
         }
 
+        const bankAccountID = lodashGet(store.getReimbursementAccountInSetup(), 'bankAccountID');
+
         // If they did not select that there are other beneficial owners, then we need to clear out the array here. The
         // reason we do it here is that if they filled out several beneficial owners, but then toggled the checkbox, we
         // want the data to remain in the form so we don't lose the user input until they submit the form. This will
@@ -149,7 +152,7 @@ class ACHContractStep extends React.Component {
         this.setState(prevState => ({
             beneficialOwners: !prevState.hasOtherBeneficialOwners ? [] : prevState.beneficialOwners,
         }),
-        () => BankAccounts.setupWithdrawalAccount({...this.state}));
+        () => BankAccounts.updateBeneficialOwnersForBankAccount({...this.state, beneficialOwners: JSON.stringify(this.state.beneficialOwners), bankAccountID}));
     }
 
     /**
diff --git a/src/pages/ReimbursementAccount/reimbursementAccountPropTypes.js b/src/pages/ReimbursementAccount/reimbursementAccountPropTypes.js
index 5763e0221106..e077b8668cce 100644
--- a/src/pages/ReimbursementAccount/reimbursementAccountPropTypes.js
+++ b/src/pages/ReimbursementAccount/reimbursementAccountPropTypes.js
@@ -28,7 +28,7 @@ export default PropTypes.shape({
     error: PropTypes.string,
 
     /** Which field needs attention? */
-    errorFields: PropTypes.objectOf(PropTypes.bool),
+    errorFields: PropTypes.objectOf(PropTypes.oneOfType([PropTypes.bool, PropTypes.array])),
 
     /** Any additional error message to show */
     errors: PropTypes.objectOf(PropTypes.string),