To require the Secretary of the Treasury to confiscate interest paid on certain frozen bank accounts, to require the Secretary to confiscate certain frozen assets, and for other purposes.

Terrorist Asset Seizure Reform Act of 2018 This bill requires a financial institution to transfer to the Department of the Treasury (1) interest paid on certain bank accounts that are frozen as a result of sanctions; and (2) after providing notice and an opportunity for the owner to challenge, frozen or otherwise blocked assets affiliated with specified terrorist activity. Assets and interest confiscated under the bill must be deposited into a fund made available to the Federal Emergency Management Agency (FEMA) for grants related to terrorism prevention.