<p>Hello everyone,
I opened a 529 college savings plan for my son (it has about $10K in it at present).</p>
<p>This is my question: my husband and I are in the process of divorce, and my son lives with his dad. I'm helping my son with the FAFSA, and don't know where/how to report the amount in his savings plan, as his father is the custodial parent, and his income, etc. is what is being reported. </p>
<p>The FAFSA says that if the student is required to include parental income, the amount s/b shown in parent's investments. Even though the account is in my name, should I put the total amount of its value under my (soon to be ex) husband's income, or should I put 1/2 of it, or none (which seems wrong). Any help is much appreciated! Thanks.</p>
<p>You could Google around a bit and see what else you can turn up. On the face of it, it doesn’t seem like there’s mechanism for reporting it on the FAFSA. If you are the owner (your son, the beneficary) then where would you report it?</p>
<p>You probably shouldn’t call your husband the owner if he’s not, or your son for that matter.</p>
<p>Will be interesting to see how others weigh in on this.</p>
<p>The non custodial parent does not fill out the FAFSA so the 529 does not get reported. If you fill out the CSS non custodial parent form, it will get reported. In my case, I am the custodial parent and the owner of both my kid’s accts which means I have to put both down. Not a great result but that was the way it was set up. So it may not seem right but it is true that it will not get listed on the FAFSA unless you are the custodial parent.</p>
<p>I agree with 'rent and mom222, the non-custodial parent’s 529 is not reported on FAFSA. However, I believe it’s reported on the custodial part of the Profile (if filed) because the question there is asking you to list all 529s for which the child is beneficiary, even if owned by a 3rd party (grandparent, aunt, etc, including ex-spouse).</p>
<p>The 529s are a little odd this way because on the one hand, the beneficiary can be changed at the whim of the custodial owner, while on the other they are required to be reported as funds available for the student’s benefit.</p>
<p>Thanks to all of you for your thoughts on this. This is my first time as a parent of a HS senior, and I really appreciate the help I’ve gotten on this website. Next year, when I know a lot more than I do this, I will be in a position to pass along what I’ve learned with others. Thanks!</p>