Alaska’s $1,702 Stimulus Payment: Apply for Your Permanent Fund Dividend (PFD) Today

Every year, Alaska shares some of its wealth from oil with its residents. In 2025, the state is offering a $1,702 Permanent Fund Dividend (PFD), which is meant to help people with their living and energy costs. This guide will explain everything you need to know to apply for the PFD, including the eligibility requirements, how to apply, important dates, and tax considerations. If you’re an Alaskan resident, make sure you understand how to apply for this stimulus and receive your payment on time.

What is the Permanent Fund Dividend (PFD)?

The Permanent Fund Dividend (PFD) is a program that gives a part of Alaska’s oil income to the people who live there. The state of Alaska started this program in 1976 to make sure that the state’s mineral wealth would benefit its citizens, both today and in the future. Every year, the state decides how much to give based on the performance of the fund over the past five years. The dividend in 2025 is $1,702, including a special payment to help with energy costs.

Who is Eligible for the $1,702 Payment?

To get the $1,702 PFD in 2025, you must meet these eligibility conditions:

• Residency: You need to have lived in Alaska for the entire year of 2024 and plan to stay in Alaska permanently.
• Absences: If you were absent from Alaska for more than 180 days in 2024, your absence must be for a reason like military service, education, or medical treatment.
• No Felony Convictions: You cannot have been convicted of a felony in 2024 or have served time in prison.
• No Other State Residency: You cannot have claimed to live in another state or country after December 31, 2023.

If you meet all these requirements, you’re eligible for the 2025 PFD.

How to Apply for the $1,702 Payment

To apply for the PFD, you have two options:

1. Paper Application: You can still apply using a paper form, but it may take longer to process.
2. Online Application: The fastest and easiest way to apply is by using the myPFD portal online. This method is quick, and most people find it more convenient.

The application period starts on January 1, 2025, and ends on March 31, 2025. Make sure you apply before the deadline to avoid missing out.

Important Payment Dates

PFD payments are given out in stages. Here are the important dates to remember for 2025:

• January 16, 2025: For applications marked “Eligible-Not Paid” by January 8, 2025.
• February 20, 2025: For applications marked “Eligible-Not Paid” by February 12, 2025.
• March 20, 2025: For applications marked “Eligible-Not Paid” by March 12, 2025.

These dates will help you understand when to expect your payment, depending on when you apply.

Tax Implications of the PFD Payment

It’s important to note that the $1,702 PFD is considered taxable income by the federal government. This means that you will need to report this payment when filing your federal taxes. Make sure you keep track of the amount you receive, as the IRS has guidelines for reporting the dividend.

Tips for a Smooth Application Process

Here are some tips to help you apply without any issues:

• Apply Early: Submitting your application early will help you get your payment on time.
• Stay Informed: Keep an eye on the official PFD website for updates or changes in the process.
• Keep Copies: Make sure you save copies of everything you submit and any confirmation emails or letters you receive.

By following these steps, you’ll increase your chances of a smooth application process.

Conclusion

The $1,702 PFD payment is a valuable source of financial support for Alaskan residents, especially those dealing with rising energy costs. If you are eligible, be sure to apply online or by mail before March 31, 2025. Remember that the payment is taxable, so keep track of it when filing your federal taxes. Applying early and staying updated on any changes to the process will help ensure you get your payment on time. Don’t miss out on this opportunity—apply for your PFD today!

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