Thanks. Unfortunately, the IRS website instructions for 8938 does not call this issue out clearly. However the common-sense literal meaning of the specified reporting threshold "total value of all assets more than $150K at any time during the year" will seem to validate your opinion (as the sum total value of all assets does not change if one transfers money from one account to another on a given day). But given the draconian penalties, just wanted to be certain. Thanks again.
