Form 8594 must also be filed if the purchaser or seller is amending an original or a previously filed supplemental Form. 8594 because of an increase or decrease.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Who Must File Form 8594? Both the seller and purchaser of a group of assets that make up a trade or business need to file Form 8594. Learn about Form 5471 filing requirements, who must file, and the penalties for noncompliance. Go to Screen 65, Asset Acquisition Statement (8594) (Screen 58 for S-Corp). Each of Buyer and Seller agrees to provide the other promptly with any other information required to complete Form 8594.