He has to file 8938 along with the tax return if the total value of assets was more than $50,000 on the last day of the tax year, or more than $75,000 at any time during the year for unmarried person.
He has to file FBAR if the aggregate value of financial accounts exceeds $10,000 at any time during the calendar year. This is a cumulative balance, meaning if you have 2 accounts with a combined account balance greater than $10,000 at any one time, both accounts would have to be reported.
8938 and FBAR
