diff --git a/packages/builder/src/components/design/settings/controls/FormStepConfiguration.svelte b/packages/builder/src/components/design/settings/controls/FormStepConfiguration.svelte
index cfaeb3700f..d9257545c9 100644
--- a/packages/builder/src/components/design/settings/controls/FormStepConfiguration.svelte
+++ b/packages/builder/src/components/design/settings/controls/FormStepConfiguration.svelte
@@ -21,26 +21,24 @@
   const currentStep = derived(multiStepStore, state => state.currentStep)
   const componentType = "@budibase/standard-components/multistepformblockstep"
 
+  setContext("multi-step-form-block", multiStepStore)
+
   let cachedValue
   let cachedInstance = {}
 
   $: if (!isEqual(cachedValue, value)) {
     cachedValue = value
   }
-
   $: if (!isEqual(componentInstance, cachedInstance)) {
     cachedInstance = componentInstance
   }
-
-  setContext("multi-step-form-block", multiStepStore)
-
   $: stepCount = cachedValue?.length || 0
   $: updateStore(stepCount)
   $: dataSource = getDatasourceForProvider($selectedScreen, cachedInstance)
   $: emitCurrentStep($currentStep)
   $: stepLabel = getStepLabel($multiStepStore)
   $: stepDef = getDefinition(stepLabel)
-  $: stepSettings = cachedValue?.[$currentStep] || {}
+  $: savedInstance = cachedValue?.[$currentStep] || {}
   $: defaults = Utils.buildMultiStepFormBlockDefaultProps({
     _id: cachedInstance._id,
     stepCount: $multiStepStore.stepCount,
@@ -48,14 +46,16 @@
     actionType: cachedInstance.actionType,
     dataSource: cachedInstance.dataSource,
   })
+  // For backwards compatibility we need to sometimes manually set base
+  // properties like _id and _component as we didn't used to save these
   $: stepInstance = {
-    _id: Helpers.uuid(),
-    _component: componentType,
+    _id: savedInstance._id || Helpers.uuid(),
+    _component: savedInstance._component || componentType,
     _instanceName: `Step ${currentStep + 1}`,
-    title: stepSettings.title ?? defaults?.title,
-    buttons: stepSettings.buttons || defaults?.buttons,
-    fields: stepSettings.fields,
-    desc: stepSettings.desc,
+    title: savedInstance.title ?? defaults?.title,
+    buttons: savedInstance.buttons || defaults?.buttons,
+    fields: savedInstance.fields,
+    desc: savedInstance.desc,
 
     // Needed for field configuration
     dataSource,
@@ -92,7 +92,8 @@
   }
 
   const addStep = () => {
-    value = value.toSpliced($currentStep + 1, 0, {})
+    const newInstance = componentStore.createInstance(componentType)
+    value = value.toSpliced($currentStep + 1, 0, newInstance)
     dispatch("change", value)
     multiStepStore.update(state => ({
       ...state,
diff --git a/packages/builder/src/dataBinding.js b/packages/builder/src/dataBinding.js
index 5efbb79611..aaccbd0e6b 100644
--- a/packages/builder/src/dataBinding.js
+++ b/packages/builder/src/dataBinding.js
@@ -1106,50 +1106,51 @@ export const getAllStateVariables = () => {
   getAllAssets().forEach(asset => {
     findAllMatchingComponents(asset.props, component => {
       const settings = componentStore.getComponentSettings(component._component)
+      const nestedTypes = [
+        "buttonConfiguration",
+        "fieldConfiguration",
+        "stepConfiguration",
+      ]
 
+      // Extracts all event settings from a component instance.
+      // Recurses into nested types to find all event-like settings at any
+      // depth.
       const parseEventSettings = (settings, comp) => {
+        if (!settings?.length) {
+          return
+        }
+
+        // Extract top level event settings
         settings
           .filter(setting => setting.type === "event")
           .forEach(setting => {
             eventSettings.push(comp[setting.key])
           })
-      }
 
-      const parseComponentSettings = (settings, component) => {
-        // Parse the nested button configurations
+        // Recurse into any nested instance types
         settings
-          .filter(setting => setting.type === "buttonConfiguration")
+          .filter(setting => nestedTypes.includes(setting.type))
           .forEach(setting => {
-            const buttonConfig = component[setting.key]
+            const instances = comp[setting.key]
+            if (Array.isArray(instances) && instances.length) {
+              instances.forEach(instance => {
+                let type = instance?._component
 
-            if (Array.isArray(buttonConfig)) {
-              buttonConfig.forEach(button => {
-                const nestedSettings = componentStore.getComponentSettings(
-                  button._component
-                )
-                parseEventSettings(nestedSettings, button)
+                // Backwards compatibility for multi-step from blocks which
+                // didn't set a proper component type previously.
+                if (setting.type === "stepConfiguration" && !type) {
+                  type = "@budibase/standard-components/multistepformblockstep"
+                }
+
+                // Parsed nested component instances inside this setting
+                const nestedSettings = componentStore.getComponentSettings(type)
+                parseEventSettings(nestedSettings, instance)
               })
             }
           })
-
-        parseEventSettings(settings, component)
       }
 
-      // Parse the base component settings
-      parseComponentSettings(settings, component)
-
-      // Parse step configuration
-      const stepSetting = settings.find(
-        setting => setting.type === "stepConfiguration"
-      )
-      const steps = stepSetting ? component[stepSetting.key] : []
-      const stepDefinition = componentStore.getComponentSettings(
-        "@budibase/standard-components/multistepformblockstep"
-      )
-
-      steps?.forEach(step => {
-        parseComponentSettings(stepDefinition, step)
-      })
+      parseEventSettings(settings, component)
     })
   })