Some Alaska residents will receive a $1,702 stimulus payment in 2025 as part of the state’s annual Permanent Fund Dividend (PFD). This payment reflects a significant 30% increase from the previous year and consists of a $1,403.83 Permanent Fund Dividend and a one-time energy assistance check of $298.17.
Understanding the Alaska Permanent Fund
The Alaska Permanent Fund was established in 1976 to manage the state’s oil revenues and ensure that the benefits are directly shared with residents. The fund is overseen by the Alaska Permanent Fund Corporation, which distributes annual payments to eligible Alaskans. This program not only provides financial support to families but also serves as an economic stimulus by increasing consumer spending and investment.
Eligibility Requirements
To qualify for the 2025 PFD payment, applicants must meet the following conditions:
- Be a resident of Alaska for the entire calendar year prior to applying and intend to remain a resident indefinitely.
- Have spent at least 72 hours in Alaska within the past 24 months.
- Not have been imprisoned for a felony in the last 12 months.
- Not have been convicted of more than two misdemeanors since January 1, 1997.
How to Apply
Alaskans can apply for the PFD online at pfd.alaska.gov or submit a paper application by mail. The deadline to apply is March 31, 2025.
Special Exceptions
Some applicants may still qualify under special circumstances:
- Individuals with disabilities.
- Those applying on behalf of a deceased person who was eligible during the application period.
- Active-duty servicemembers who received hostile fire or imminent danger pay during the application period.
For these exceptions, applicants should contact the Alaska Department of Revenue directly for further assistance .
FAQs :
1. When will payments be issued?
PFD payments are typically disbursed in early October. Exact payment dates will be announced by the Alaska Department of Revenue.
2. How is the PFD amount determined?
The dividend amount is based on a five-year average of the Alaska Permanent Fund’s investment earnings and other factors such as state economic conditions and legislative decisions.
3. Can non-residents apply?
No. Only individuals who meet Alaska’s residency requirements are eligible to receive the PFD.
4. Will the PFD affect my taxes?
Yes. The PFD is considered taxable income by the IRS, and recipients should report it when filing their federal tax returns.
5. What happens if I miss the deadline?
If you do not apply by March 31, 2025, you will forfeit your eligibility for the 2025 payment unless you qualify for an exception.
For more details or to check your application status, visit the PFD online portal or contact the Alaska Department of Revenue.