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Security First Bank of North Dakota

Changes Proposed to Required IRS Reporting From Banks

A recent proposal in Washington would significantly increase bank reporting of your financial information to the IRS.

Under the proposed changes, banks would be required by law to report the net amount of deposits and withdrawals for all business and personal deposit accounts with a balance of $600 or more. If passed, this reporting would be effective January 1, 2023.

We care about you and your privacy. Click here to access pre-populated letters that can be easily sent to your state senators and representative, asking them to vote against increased IRS reporting.

Thank you for being a valued customer of Security First Bank of North Dakota.

  Sarah Getzlaff, CEO