Atlantic Striped Bass Temporary Federal Moratorium Act of 1986 - Amends the Atlantic Striped Bass Conservation Act to declare a temporary total moratorium on Atlantic striped bass fishing within the coastal waters of all coastal States. Directs the Atlantic States Marine Fisheries Commission, within six months after the imposition of such moratorium, to issue a revised version of the Interstate Fisheries Management Plan and specific instructions to each coastal State.

Requires such revised plan and instructions to promote the long-term conservation of the striped bass while imposing an equitable burden among the coastal States. Directs the Secretaries of Commerce and of the Interior, within nine months after the imposition of such moratorium, to determine each State's compliance with the Plan and take appropriate action upon such determination. Authorizes the Secretaries to remove a moratorium imposed on a State if such State's striped bass fishing regulations are in compliance with the Plan and this Act.