Thanks. I realized I was in the same situation last year and posted the same question. Then an expert suggested to continue to file 8938 as he said that it doesn't hurt but if not filed it could require questions to be answered by IRS and penalty for not filing is very high. I have been filing for many years, but balances have been decreasing and 2024 was the first year when they dipped below. Last year I did file the 8938s though I was not required to based on the comment.
I understand that as per the requirements, I do not need to file as I am below both the thresholds of married filing jointly. And going forward, will likely remain below the thresholds.
Thanks for confirming that I can stop now. I will have to file the FBARs still.
