Residents of Alaska are about to receive a financial boost as the state rolls out $1,702 payments starting this February. This payment is part of Alaska’s long-running Permanent Fund Dividend (PFD) program, designed to share a portion of the state’s oil and gas revenue directly with its people.
If you’re eligible, you could see this money hit your bank account as early as February 20, 2025. Here’s everything you need to know about eligibility, how to apply, and when payments will be sent.
What Is the PFD, and Why Are Alaskans Getting Paid?
The Permanent Fund Dividend is an annual payout funded by Alaska’s oil and gas profits. The program was created in 1976 as a way to ensure that Alaskans benefit directly from the state’s natural resources. Each year, the payout amount is different, depending on how much revenue the fund collects and how it’s allocated by the state legislature.
In 2025, the amount has been set at $1,702, following last year’s payout of the same amount.
Are You Eligible for the $1,702 Payment?
To qualify for this year’s PFD payment, you need to meet a few key requirements:
- Residency: You must have been a resident of Alaska for the entire 2024 calendar year.
- Limited Absences: If you were out of the state for more than 180 days last year, you may not qualify unless your absence was for approved reasons, such as school, medical care, or military service.
- Intent to Stay: You need to show that you plan to remain an Alaska resident indefinitely.
- Clean Record: Those with certain criminal convictions may be disqualified.
How to Apply for the PFD
Applying is simple, but you must do it before the deadline. The application period runs from January 1 to March 31, 2025. Here’s how you can apply:
- Online: Head to pfd.alaska.gov to fill out the form quickly and easily.
- By Mail: If you prefer a paper application, request one from the Alaska Department of Revenue and send it back by mail.
Double-check your application for accuracy to avoid processing delays.
When Will You Get Your Payment?
The Alaska Department of Revenue has confirmed the first round of payments will be distributed on February 20, 2025. To be included in this batch, your application status must be “Eligible-Not Paid” by February 12, 2025.
For those who miss this deadline, another round of payments is scheduled for March 20, 2025. Details on eligibility for this batch will be provided as the date approaches.
Payments will be sent either via direct deposit to your bank account or as a mailed check, depending on the method you selected during the application process.
Why This Payment Matters
For many Alaskans, the PFD provides a crucial financial cushion to help cover essential expenses like rent, groceries, and utility bills. With the cost of living rising across the country, this $1,702 payment can help ease financial stress for eligible residents.
If you’re eligible, make sure your application is submitted on time so you don’t miss out on this important payment. For any questions or additional assistance, visit the official website at pfd.alaska.gov.