The money was transferred to my foreign bank account which is considered as a foreign financial asset (according to the link you provided to the IRS website) thus it appears I do need to submit Form 8938.
"you must file Form 8938 if you are a specified person (live here so applies to me) that has an interest in specified foreign financial assets (I have a foreign bank account so applies to me) and the value of those assets is more than the applicable reporting threshold (I had more than $75,000 at any time during the tax year so also applies to me)."
