A financial boost could be seen by Alaska residents within the next 3 days due to the state issuing $1,700 payments through the Permanent Fund Dividend (PFD) program. PFD payments are scheduled to be deposited on May 15, 2025, as a form of stimulus and financial relief derived from Alaska’s natural resource revenues, primarily oil. This is a longstanding benefit that can be rather helpful for many Alaskan citizens.
Understanding the Alaska Permanent Fund Dividend (PFD)
When it comes to Alaska Permanent Fund Dividend (PFD), it is an annual payment for residents funded by investment earnings due to the state’s oil wealth. The PFD, established in 1982, distributes a portion of the revenues to every qualifying resident yearly. In 2024, the PFD payout totaled $1,702, and included:
- $1,403,83 as the standard dividend
- $298,17 as an added energy relief bonus approved by the legislature
The PFD program is rather valuable as it provides yearly support to over 600,000 Alaskans becoming a critical source of financial stability for many families, especially those Alaskan families living in remote or rural areas where the cost of living is high.
Payment for this year has not yet been confirmed; however, it is most likely to align with last year’s payment. Citizens who should anticipate payment on May 15 are those who applied early and had their status marked as “Eligible–Not Paid” by May 7, 2025.
Qualification criteria for $1,702 payment
Applicants are required to meet stringent eligibility requirements so that only true and permanent Alaskan residents stand a chance to benefit from the program. The qualification criteria include:
- Residency requirements: Citizens need to have lived in Alaska for the entire 2024 calendar year whilst holding on to their intention to remain in the state permanently.
- Physical presence: Citizens need to be physically present in the state for approximately 72 consecutive hours in either 2023 or 2024.
- Criminal history: Individuals should not have multiple misdemeanors in 2024. Citizens with a felony conviction are automatically disqualified.
- Absent from the state: Long absences from the state of 180 days or more must have been for approved reasons including that of military service, education, or medical treatment.
- Application deadline: All PFD applications had to have been submitted by March 31, 2025, as no late applications will be considered regardless of eligibility.
Despite meeting the necessary eligibility criteria, every individual needs to file their own application that can be submitted either online or via paper forms.
What to look forward to on May 15, 2025?
According to the Alaska Department of Revenue, the next round of PFD deposits will be sent out on May 15, 2025. However, only citizens whose applications have the “Eligible–Not Paid” status by May 7 will see these payments reaching them in the form of a direct deposit or paper check, depending on the method selected during the application process.
Citizens who may have missed this round need not worry as the next scheduled payment day is June 18 provided that applications reach eligibility by June 11. This is all part of the state’s initiative to roll out payments to every deserving Alaskan.
Alaska surely is one state that has a unique system where the resource wealth is shared with citizens. Thus, the PFD is more than a simple check. Alaskans who wish to receive their share of this payment must stay aware that obtaining an out-of-state REAL ID or driver’s license could affect one’s eligibility, especially in cases where the driver’s license or the out-of-state REAL ID hints at permanent residency in another state.
However, true Alaskans can rest assured that as long as the state’s oil revenue stays healthy and funds remain intact, the Alaska PFD will continue to provide financial relief to thousands helping them with cost-of-living expenses and more. April PFD payments have already gone out and May payments will reach citizen’s accounts in 3 days.
