I recommend that you do contact admission offices, whether by phone, snail-mail or e-mail, to explain your change in status. At the "need-conscious" institutions (those that take financial need into consideration when making admission decisions) it can be helpful to you to have the admission committees approach the application from the get-go with a "this kid doesn't need any dough from us" mind-set.
Moreover, as you suggest, if you checked the "YES" box on the application and do not follow up with forms, you will be precipitating some unnecessary correspondence between admission officials and aid officials and between aid officials and you.
Note, however, that if a student applies as a "no-need" freshman applicant, there is usually a waiting period (two years is common) before the student can apply for aid down the road. So make sure you are comfortable with your change of heart before you commit to it.
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