I took a US loan for $360k, transferred it to my Canadian checking via wire transfer, and spent it (and some more) on a Canadian property. Do I need to file form 8938?

[stuckerjason]

I am filing married jointly, as a US resident. Total peak foreign account amount reached $380k USD for 1 day, with last day of the year value around $34k USD, as we spent the majority on the property.

[MindyB]

Yes.  Per the filing requirements, you must file Form 8938 and report your foreign account if the total value was more than $150,000 at any time during the tax year.  There's not an exclusion for a short period of time.

See: Do I need to file Form 8938, Statement of Specified Foreign Financial Assets

and: How do I file Form 8938, Statement of Specified Foreign Financial Assets?