Sega have posted registration information and details of their tournament.

This will be "first come, first serve" basis for the first 256 players. Registration is $15, don't wait! To register, please use this link: http://vf5fsevo2012.eventbrite.com/

"The prize pot will be composed of all entree fees, as well as an additional $15,000 contributed by Sega.

The $15,000 will be split as follows. All pot money from entry fees will be added on top of these amounts and will be announced at a later date.

1: $3,000
2: $2,000
3: $1,500
4: $1,200
5: $1,000
6: $900
7: $800
8: $600
9 – 16: $500" - Sega Blog Entry

For those attending Evo and will be entering the VF5FS please check the VF5FS at Evo 2012: Event Details and Trip Planning thread.

Update: May 22, 2012: The official rules have been revised to state non-US residents are eligible to enter the tournament. There was some confusion on the official rules when registration was originally announced. So go ahead and register now before its too late!