pk
Level 15
Level 15

Get your taxes done using TurboTax

@haku999 , assuming the transition took place during the  year  ( and not at the start of the year ), you would need to show both sets of accounts  with the associated highest values.  Thus you may end up having double  counted the  aggregate amount and  FinCen recognizes that.  Then form the following year you show ONLY the active accounts.

It is no different   than when you move amounts between accounts  and often resulting in double counting for the reporting year.