<p>I'm sorry if this has been answered a million times, but after doing some researching and calling the FASFA folks themselves, I'm still confused. </p>
<p>So, as of 2014 (completing it from tax year 2013), do we need to report 529 funds on the FASFA where my daughter's aunt is the owner and my daughter is listed as the beneficiary?? And if so, where? Under her assets? For the CSS/PROFILE I did report the 529 amount that the aunt has although I'm not sure I did that right. When I called the FASFA folks today, they said I needed to report it under my daughter's assets. So confused.</p>
<p>As a side note, I did report the two 529 accounts that we have for our children (combined) on both the FASFA and the CSS/PROFILE. That one I get.</p>
<p>If you’re talking about 529 assets owned by the aunt that have not yet been used for your daughter’s benefit, than no, those assets do not need to be reported on FAFSA. If you’re talking about 529 assets that have been used for your daughter’s benefit, than those funds do need to be reported as student income.</p>
<p>Ok, great! No the assets have not been used yet. Upon researching for my answer, I see that that does create a whole other problem. Hopefully, we can avoid that by doing some things or holding off using the funds.</p>
<p>So why did the FASFA people tell me that I needed to report the account? Possibly they thought I meant funds that were cashed in. Not sure. </p>
<p>Because not all FAFSA reps are well-trained. I am sometimes quite surprised by what people here report that they are told. It’s possible the rep misunderstood, but it doesn’t sound like that is the case.</p>
<p>Oh dear. Well, so glad that you all are here to help me! Paying tuition at Hopkins is a huge burden and we need all of the help we can get! I did report the 529 in my daughter’s aunt’s name on the CSS/PROFILE. Hope that is correct. I did, however, not report the 529 they have for my son on the CSS. Think I got that correct. Too late now :/</p>
<p>It’s been quite a few years since I had to fill out a Profile, but I recall a few colleges had a specific question about 529 assets held for the child by people other than the parents. (At the end of the form, where the college-specific ones come up). So I am not sure that the aunt-owned 529 needed to be reported on Profile unless asked. How did you report it? It’s not an asset of your daughter or of yours.</p>
<p>No. It is considered the asset of the owner. So you don’t need to report it in FAFSA. Remember the beneficiary can be changed any time. If for CSS profile, you need to report it as any support to the student will be counted.</p>