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The actor joins Danny McBride, Aziz Ansari, Jesse Eisenberg, Nick Swardson and Michael Pena in the movie, says The Hollywood Reporter.
The film follows a junior-high history teacher and a pizza delivery man forced by criminals to rob a bank while one of them wears an explosive vest.
Ward will play McBride's character's father, called 'The Major'.
Zombieland helmer Rubein Fleischer is directing the Columbia Pictures feature.
The 67-year-old was recently seen in action film Armored and Showtime's United States of Tara.
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