The actor's DumbDumb comedy enterprise with Arrested Development co-star Will Arnett is in negotiations to produce the independent project with Darko Entertainment.
Tyro's Andrew Dodge has written a screenplay for the film, reports Variety.
Bateman will likely also star in the film as the main character. The movie follows an aggrieved 30-something who finds a loophole to enter a children's spelling bee.
He and Mason Novick will produce with Darko's Sean McKittrick, Ted Hamm and Jeff Culotta.
The actor will return as Michael Bluth in the upcoming revived series and movie of Arrested Development, to begin in 2013.
The new episodes will also air exclusively on Netflix in the UK next year.
Jason Bateman recently signed up for Adam Shankman's This Is Where I Leave You opposite Zac Efron.