This study used item response theory (IRT) methods to investigate group differences in responses to the 12-item Student Risk Screening Scale--Internalizing and Externalizing (SRSS-IE12) in a sample of 3,837 U.S. elementary school students. Using factor analysis and graded response models from IRT methods, we examined the factor structure and the item and test functioning of the SRSS-IE12. The SRSS-IE12 internalizing and externalizing factors reflected the hypothesized two-factor model. IRT analyses indicated that SRSS-IE12 items and tests measure internalizing and externalizing traits similarly across students from different race, ethnicity, gender, and elementary level (K-Grade 2 vs. Grades 3-5) groups. Moreover, the mostly negligible differential item functioning (DIF) and differential test functioning (DTF) observed suggest these scales render equitable trait ratings. Collectively, the results provide further support for the SRSS-IE12 for universal screening in racially diverse elementary schools.