To be directed by "In America" director Jim Sheridan, the movie is about a soldier (Maguire) sent to fight in Afghanistan while his younger sibling (Gyllenhaal) cares for his wife and child, Variety.com said Tuesday.
The film is to start filming in November.
Bier's 2004 film starred Connie Nielsen, Ulrich Thomsen and Nikolaj Lie Kaas.
Gyllenhaal has starred in "Zodiac," "Brokeback Mountain" and "The Good Girl" and was most recently seen in "Rendition," which screened last week at the Toronto International Film Festival.
Maguire has played the title character in three "Spider-Man" blockbusters and also appeared last winter in "The Good German."
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