I closed one foreign bank account in February and moved the funds (approx $26k) to another foreign bank account, which is a new account. The maximum funds I had at any point in the year was $26k. However, if I report both bank accounts on FBAR, that will make it more than $50k requiring me to file form 8938 even though I did not have $50k at any time during the year.
Please advise how to correctly report this.
Thank you!
