Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale if goodwill or going concern value. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.Purchaser agrees to provide seller with a draft Form 8594 within ninety (90) days after closing for review and comment. If the purchaser or seller is a controlled foreign corporation (CFC), each U.S. shareholder should attach Form 8594 to its Form 5471. – Both the purchaser and seller are required to file Form 8594. Go to Screen 65, Asset Acquisition Statement (8594) (Screen 58 for S-Corp).