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Regional Outlook FEDERAL DEPOSIT INSURANCE CORPORATIONFIRST QUARTER 2002Regional Perspectives FDIC Chicago Region The current recession and aftermath of the September 11 attacks triggered sharp cutbacks

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What is silicon valley bank seized?

Silicon Valley Bank is not seized, it is a financial institution.

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Any individual or business entity who has foreign financial accounts may be required to file a report with the IRS.

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You can fill out the report online on the FinCEN website or electronically through certain tax software.

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The purpose of filing the report is to disclose any foreign financial accounts that you have to the IRS.

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You must report the account number, name and address of the financial institution, maximum value of the account during the year, and other relevant information.

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