Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. 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.✓ Complete IRS Form 8594 Asset Acquisition. Requires taxpayers to file Form 8594, Asset Acquisition Statement, when there is a transfer in the ownership of a business. A Fictitious Business Name shall be filed within 40 days of first transacting business. Once registered, it is effective for 5 years.