For the general thread audience: be aware that the only documented situation where this applies is for students who are legally non-dependents.
However, for the vast majority of college students who are dependents, 529 accounts should be reported for need-based financial aid purposes as a parental asset–this applies to the FAFSA application as well as the CSS Profile. And it applies to 529 accounts actually owned by parents (as is true for the vast majority of 529 accounts) as well for the comparatively rare cases of custodial 529 accounts.
Confirming this with individual FA offices can put your mind at ease (that’s what I did at multiple institutions!), but the above is the evidence-based approach to filling out the forms.