Thousands of Alaskans are set to receive a $1,702 payout this February as part of the Permanent Fund Dividend (PFD). This annual payment, funded by the state’s oil revenues, is given to eligible residents to share in Alaska’s natural resource wealth. If you’re wondering whether you’ll receive this deposit, here’s what you need to know.
Who Qualifies for the $1,702 Payment?
To be eligible for the PFD, you must meet the following requirements:
- Alaska Residency – You must have lived in Alaska for the entire 2024 calendar year.
- Intent to Stay – You must show a clear intention to remain in Alaska permanently. Temporary absences for school, military service, or medical reasons may be allowed if you maintain Alaska as your home.
- Timely Application – The application period runs from January 1 to March 31, 2025. If you miss this window, you won’t be eligible for the payment this year.
- No Disqualifying Criminal Convictions – Individuals incarcerated for felony convictions or certain misdemeanors during the qualifying year are not eligible.
When Will You Get Paid?
The Alaska Department of Revenue has scheduled the payments as follows:
- January 16, 2025 – Payments for eligible 2024 applicants who weren’t paid last year.
- February 20, 2025 – Another round of payments for eligible 2024 applicants.
- October 2025 – The first large batch of payments for 2025 applicants who applied by March 31.
If you opted for direct deposit, expect your funds earlier. Those choosing paper checks or submitting paper applications will receive their payments later in October.
How to Apply for the PFD
The easiest way to apply is online through the myAlaska portal. This system allows you to:
- Submit your application quickly and securely.
- Track your application status.
- Update your personal details as needed.
Be cautious of phishing scams – the official site will never ask for passwords via email or text.
Impact on Social Security Benefits
If you receive Supplemental Security Income (SSI), the PFD payment could affect your benefits. Since this dividend counts as income, it may impact your eligibility or monthly payments. If you rely on Social Security, it’s a good idea to check with a financial advisor or the Social Security Administration to understand how the payment might affect you.
Final Thoughts
The $1,702 PFD payment is a welcome financial boost for many Alaskans. If you’re eligible, make sure your application is submitted on time, and check your bank account for the deposit. For more details and official updates, visit the Alaska Permanent Fund Dividend Division website.
