<p>I'm spending New Year's Eve filling out the FAFSA for my son, who is a senior. (Woo-hoo!)</p>
<p>His father and I are divorced, and I am remarried. I have full custody. </p>
<p>I know that for purposes of the FAFSA form I am, as the custodial parent, to report my income and assets as well as those of my current husband. </p>
<p>Does this, however, mean that it is not necessary for me to report the 529 plan that my ex-husband set up for our son? All I know is that it exists; I have no idea how much is in it. He may have changed the beneficiary on it, for all I know at this point.</p>
<p>Any help anyone could provide would be greatly appreciated!</p>
<p>The federal formula doesn't include the financial resources of the noncustodial parent. If the 529 is in the non-custodial parent's name, with the student as beneficiary, then in my opinion this is not reported. This would be equivalent to 529s set up by grandparents/aunts/uncles etc: none are reported on FAFSA.</p>
<p>Note that some private colleges that require the Profile may ask students to reveal if there is a 529 plan with their name on it.</p>
<p>I was in a grump last night as I filled out the FAFSA and snapped at DH. I apologized and commented how the FAFSA and Profile were full of treacherous land mines and surely must be fodder for ill feelings between split spouses. My heart goes out to you and I hope you can find a way to gently navigate through all the questions. You can assure offspring and ex that the first time through the process is the hardest. I make lots of notes in the draft and that helps me not re-thrash questions the following year. Good luck.</p>