Basically, yes. I’d have to check the ACAT standard , as I don’t know if it’s baked into the spec or a different agreement.

Keep in mind that there are typically thousands of dollars of assets coming over as well, so you only need to sell a tiny bit to cover the negative cash balance.

Also, I’ve never seen an account move over that had a total value of less than the closing fee, so I don’t know what happens in that case.