Get Your $1,702 Payment – Last Chance for Free Money After Stimulus Checks End

Eligible Alaskans should be on the lookout for their Permanent Fund Dividend (PFD) payment, which is expected to arrive in October 2024. The Alaska Department of Revenue has increased the PFD payment to $1,702 this year, a notable rise from last year’s $1,312.

For those who opted for direct deposit or paper checks, this is a significant boost in their annual payout. If you are eligible, make sure you know when to expect your payment and how to check your status.

Payment Schedule

Some eligible recipients in Alaska received their PFD on October 3, 2024. However, not everyone has been paid yet. The next round of payments is set to be disbursed on October 24, 2024. This means that many Alaskans are just a couple of weeks away from receiving their direct deposit or paper check.

The timeline for PFD payments depends on a few factors, including the method chosen (direct deposit or paper check) and how early applicants completed their filings. Those who selected paper checks may experience a slightly longer delay.

Payment Amount

The increase in the PFD amount from $1,312 to $1,702 represents a substantial rise of $390. This adjustment comes as a pleasant surprise for many Alaskans, especially amid rising costs. The Permanent Fund Dividend, funded by Alaska’s oil revenues, is meant to distribute a portion of the state’s wealth back to its residents, and the boost is a welcome relief for many households.

Eligibility

Not all Alaskans will receive this payment. To qualify for the October 24 PFD disbursement, recipients must meet the following criteria:

1. Filed by Paper: Eligible applicants who submitted their applications using paper forms instead of online filings.
2. Paper Check Option: Those who selected paper checks as their preferred payment method instead of direct deposit.
3. Status Check: Applicants must have a status that reads “Eligible-Not Paid” as of October 14, 2024.

If you meet these requirements, you can expect your payment to arrive on October 24. It’s essential to check your application status on the PFD website to ensure everything is in order.

Applying

If you missed out on the 2024 PFD or were deemed ineligible, don’t worry. The application period for the 2025 PFD will open on January 1, 2025. Alaskans can submit their applications early in the year to secure their share of the state’s revenue next year. To be eligible for the 2025 PFD, applicants need to meet specific requirements throughout the 2024 calendar year.

Requirements

To be eligible for the 2025 PFD payment, Alaskans must meet the following conditions:

1. Residency: Must be a resident of Alaska for the entire 2024 calendar year.
2. Intent to Remain: Applicants should demonstrate the intention to continue residing in Alaska.
3. No Other Residency Claims: Applicants must not have applied for residency in any other state or country.
4. Limited Absences: Applicants cannot have been absent from Alaska for an extended period that would exceed the allowed limit.
5. No Criminal Record: Those currently serving a jail term are ineligible.
6. Physical Presence: Applicants should have been physically present in Alaska for at least 72 consecutive hours during 2024 or 2023.

How to Check

Alaskans waiting for their payments can check their status online. If your status is marked as “Eligible-Not Paid,” you are slated to receive the October 24 disbursement. Ensure your banking information is correct if you chose direct deposit, or keep an eye on your mailbox if you opted for a paper check.

To verify your status, visit the Alaska Department of Revenue’s PFD application status page and enter your information. This will show if you are part of the upcoming payment batch.

The PFD is more than just a check—it’s a reflection of the state’s prosperity and commitment to its residents. So, if you’re eligible, make sure to stay informed and prepared for the payment.

FAQs