Find Out When It’s Sent and Who Qualifies

The Alaska Permanent Fund Dividend (PFD) is a distinctive program that distributes a portion of the state’s oil and gas revenue to residents, offering financial support while encouraging local spending and investment. Established in 1976, the PFD continues to provide an annual dividend to eligible residents. Here’s everything you need to know about how the program works, its eligibility requirements, application process, and payment schedules.

How the PFD Works

The PFD is funded through the Alaska Permanent Fund, which invests earnings generated from the state’s natural resources. For 2023, eligible Alaskan residents received a PFD of $1,312, and for 2024, this amount will increase to $1,702, benefiting approximately 600,000 residents.

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Payment Methods

There are two ways PFD payments are issued:

• Direct Deposit: This is the most popular method, providing faster access to funds.
• Paper Checks: These are mailed to recipients but take longer to arrive.

The last 2023 PFD payments were issued on October 26. Recipients can track their payment status on the official PFD website or by contacting the Alaska Department of Revenue.

Eligibility Requirements

To qualify for the PFD, applicants must meet the following residency and legal criteria:

Residency:

• Duration: Applicants must have lived in Alaska for at least 12 months before applying.
• Intent to Stay: Applicants must not intend to move out of Alaska or establish residency elsewhere.
• Continuous Presence: Applicants must have spent at least 72 consecutive hours in Alaska within the past 24 months.

Legal Standing:

• No history of felony incarceration within the past year.
• No misdemeanor incarceration if previously convicted of a felony or two misdemeanors since January 1, 1997.

Application Process

Applications are accepted annually between January 1 and March 31. Each family member, including children, requires a separate application. Parents should apply first, followed by their children’s applications.

Important Considerations

If an eligible resident has not received their PFD, they should:

• Verify their application status through the PFD website.
• Contact the Department of Revenue for further assistance.

Upcoming Payments

The schedule for 2024 PFD payments will be announced by the Department of Revenue. It’s important for recipients to stay informed to ensure they don’t miss out on the distribution.

Benefits of the PFD

The PFD plays a key role in stimulating Alaska’s local economy by encouraging spending and investment. It provides a financial safety net that helps households cover essential expenses, contribute to savings, or support local businesses.

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Applying for the PFD

Applications can be submitted online or by mail. The process is relatively simple but requires attention to detail, especially when applying for multiple family members. Missing the application window between January 1 and March 31 can result in disqualification for that year’s dividend, so it’s important to apply on time.

FAQs

How much is the PFD for 2024?
The PFD for 2024 is $1,702 for each eligible resident.

When can I apply for the PFD?
Applications are accepted annually from January 1 to March 31.

Who is eligible for the PFD?
Alaska residents who have lived in the state for at least 12 months, with no intent to leave, and who meet the legal residency requirements.

How are PFD payments distributed?
Payments are issued through direct deposit or by paper check.

What disqualifies someone from receiving the PFD?
Felony incarceration, failing to meet the residency requirements, or moving out of state or country can disqualify a recipient.

By understanding the eligibility requirements, application process, and payment schedules, Alaskans can ensure they take full advantage of the PFD program and its benefits.