Alaska residents are set to receive a $1,702 payment in February 2025 as part of the Permanent Fund Dividend (PFD) program, which includes an energy relief component.
This financial support comes from the state’s oil revenues, helping citizens manage high living and energy costs.
If you’re an Alaska resident, it’s essential to know the eligibility criteria, payment schedule, and application process to ensure you receive your share.
Payment
The $1,702 PFD payment is a significant financial boost for eligible residents, offering relief amid rising living costs.
The state distributes these payments based on a structured schedule, with different payment dates depending on application status.
$1,702 PFD Payment Breakdown
| Aspect | Details |
|---|---|
| Payment Amount | $1,702 per eligible resident |
| Payment Dates | 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) | |
| Eligibility | Must be a U.S. citizen or legal resident, have lived in Alaska for the entire 2024 calendar year, intend to stay indefinitely, and not claim residency elsewhere since December 31, 2023 |
| Application Period | January 1, 2025 – March 31, 2025 |
| Application Method | Online via myPFD portal or paper application submission |
Permanent Fund
The Permanent Fund Dividend (PFD) program was created in 1976 to ensure Alaska’s oil wealth benefits residents. Each year, a portion of the state’s oil revenue is distributed as a dividend based on the fund’s performance.
The amount varies yearly, and for 2025, it includes an energy relief payment to help cover rising energy expenses.
Eligibility
To qualify for the 2025 PFD payment, applicants must meet specific requirements:
- Residency: Must have lived in Alaska for the entire 2024 calendar year and plan to remain indefinitely.
- Absence Exceptions: If absent for over 180 days, the absence must be for reasons like military service, education, or medical treatment.
- Legal Status: Must not have been incarcerated for a felony in 2024.
- Other State Benefits: Must not have claimed residency in another state or country after December 31, 2023.
More details on eligibility can be found on the official PFD website.
Application
The application period runs from January 1, 2025, to March 31, 2025. Applying online via the myPFD portal is recommended for faster processing, but paper applications are also accepted.
How to Apply:
- Visit the myPFD portal and create an account.
- Fill out the online application with accurate personal information.
- Submit required documents if requested.
- Check your status regularly for updates.
Payment Schedule
Payments are issued in phases depending on when an application reaches “Eligible-Not Paid” status:
- January 16, 2025 – For applications approved by January 8, 2025
- February 20, 2025 – For applications approved by February 12, 2025
- March 20, 2025 – For applications approved by March 12, 2025
Residents can track their application status through the myPFD portal.
Taxation
The $1,702 PFD payment is considered taxable income for federal tax purposes. Recipients must report it on their tax returns, and the IRS provides specific guidance on how to do so.
Helpful Tips
- Apply Early: Submitting your application early increases the chances of receiving payment sooner.
- Keep Records: Save copies of your application and confirmation details.
- Stay Updated: Regularly check the PFD website for any new announcements or changes.
This PFD payment provides much-needed financial relief to Alaska residents, helping with living and energy costs. By understanding the eligibility requirements and following the application steps, you can ensure a smooth and timely payment process.
