In October 2024, many Alaskans are set to receive their Permanent Fund Dividend (PFD) checks, which are given annually as part of Alaska’s program to share the state’s oil revenue with residents.
The Alaska Department of Revenue has confirmed that eligible residents can expect a payment of $1,702 this year, a $390 increase from last year’s amount of $1,312.
Eligibility for the October 24 PFD Payment
To receive the upcoming PFD payment on October 24, eligible Alaskans must meet certain criteria, including specific filing and residency requirements. Here’s a breakdown of who qualifies and the process for receiving your payment.
What is the Alaska Permanent Fund Dividend (PFD)?
The Alaska PFD is an annual payment distributed to eligible Alaskan residents from the state’s Permanent Fund, which is funded primarily by oil revenue.
The goal of the PFD program is to ensure Alaskans benefit directly from the state’s natural resources.
This year’s increase to $1,702 reflects the state’s commitment to this principle, providing residents with additional financial support.
Key Details for the October 2024 PFD Payment
1. Payment Date:
- The next PFD payment date is October 24, 2024.
- A prior payment was made on October 3, 2024.
2. Payment Amount:
- Qualified recipients will receive $1,702, which is a $390 increase from last year’s $1,312.
Eligibility Requirements for 2024 PFD
To qualify for the October 24 payment, applicants must fulfill the following requirements:
- Filing Type: Applicants who submitted their applications by paper and selected paper checks as their payment method.
- Eligibility Status: Applicants must have an “Eligible-Not Paid” status by October 14, 2024.
PFD Eligibility for 2025
Alaskans who were not able to apply for the 2024 PFD can apply for the 2025 PFD starting January 1, 2025. Here are the primary eligibility requirements for the 2025 PFD:
- Residency: Must be a resident of Alaska for the entire 2024 calendar year.
- Intention to Stay: You must have a clear intention to remain in Alaska and not establish residency elsewhere.
- Presence: You should not have been absent from Alaska for extended periods, and you need to have been physically present in the state for at least 72 consecutive hours in 2024 or 2023.
- Legal Standing: You must not be incarcerated during the qualifying period.
The Alaska Permanent Fund Dividend provides vital financial support to residents by sharing the state’s oil revenue. With this year’s increased PFD payment, eligible Alaskans will see an additional $390 in their payment.
As applications open for the 2025 PFD on January 1, Alaskans who meet the residency and application requirements can continue to benefit from this program, ensuring that the wealth of Alaska’s natural resources supports the community.
1. Who is eligible for the October 24, 2024, PFD payment?
To be eligible, you must have filed by paper, chosen a paper check as your payment option, and have an “Eligible-Not Paid” status by October 14.
2. How much will the 2024 PFD payment be?
The 2024 PFD payment amount is $1,702, which is $390 more than last year’s amount of $1,312.
3. When can I apply for the 2025 PFD payment?
Applications for the 2025 PFD payment open on January 1, 2025.
4. Do I need to be a resident of Alaska to qualify for the PFD?
Yes, you need to be an Alaska resident for the full year prior to the payment year, and you must intend to continue living in Alaska.
5. Can I receive a PFD payment if I have been out of Alaska?
You can be eligible if you haven’t been away for extended periods, and you need to have spent at least 72 consecutive hours in Alaska during either 2024 or 2023.
