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<p>What’s reported is the amount of student and parent assets on the date FAFSA is filed, which in this case will be January or February 2013. What happens to any money between now and then is irrelevant. If Profile needs to be filed early, for EA or ED schools for example, then the asset amount might be reported for Profile differently than for FAFSA.</p>
<p>That FinAid.org link is slightly out of date with regards to the treatment of student-owned 529s. The loophole was closed several years ago; student-owned 529s must be reported. Prior to 2008 or so they were not reported on the FAFSA form.</p>
<p>Otherwise the general information in the link is correct for FAFSA. It’s not 100% accurate for Profile schools because sibling and grandparent-owned 529s are reported there, along with (sometimes) family-owned cars.</p>