529 Plan Ownership -- CSS PROFILE

[vballmom]

<p>'rentof2 that was my initial understanding as well, that grandparent-owned 529s were reportable on Profile (but never on FAFSA). In fact, when I filled out the Profile last year, I know I included the 529 that my parents opened for my son. I started writing that in my response above, and then thought I should go check the 2010-2011 Profile instructions. They would indicate that trusts held by others for the benefit of the student are reportable, but not grandparent-owned 529s.</p>

<p>Looking one more time, here are the instructions (we’re not talking about a UGMA 529, so that sentence doesn’t apply to the OP):</p>

<p>

Student’s Assets (SA)</p>

<p>SA-110B</p>

<p>Enter how much your investments are worth today. Include the total value of all of your trust accounts, regardless of whether any of the income or principal is currently available. Do not include the value of your home, other real estate, business, or farm. If you, the student, own one of those assets, report the value in SA-120 - home, SA-140 - other real estate, and SA-150 - business and/or farm. Assets that are held in Section 529 prepaid tuition or college savings plans or Coverdell savings accounts should be listed as parent assets in PA-120. If you have a 529 plan as part of a Uniform Gift to Minors Act (UGMA) account or Uniform Transfer to Minors Act (UTMA) account or that was funded from assets from an UGMA/UTMA, it is considered a student asset and should be reported here.</p>

<p>If you have assets owned jointly with someone else, give only your portion of the assets.</p>

<p>Only enter your assets in this question; don’t include your parents’ assets.</p>

<p>SA-170A</p>

<p>Enter the total value of all of your (and your spouse’s, if married) trust accounts, regardless of whether any of the income or principal is currently available. Don’t include funds held in Section 529 plans. If you (and your spouse) don’t have any trust accounts, enter “0” (zero).

</p>