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. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.Upon Closing, Buyer will be responsible for acquiring and maintaining appropriate insurance for the protection of the Acquired. Virginia Asset Purchase Agreement Template. When you're involved in buying or selling a business's assets, make sure to utilize an asset purchase agreement.