A new round of payments worth $1,702 is set to reach eligible Americans soon. But before you get excited, these payments aren’t part of a nationwide stimulus program like those seen during the COVID-19 pandemic. Instead, they come from Alaska’s Permanent Fund Dividend (PFD)—a long-standing initiative that shares the state’s oil revenue with residents.
For 2025, the Alaska Permanent Fund Dividend (PFD) will distribute $1,702 per eligible resident. If you live in Alaska and meet the state’s residency and application criteria, you may receive this payment later this year.
Who Qualifies for the $1,702 Check?
To be eligible for the 2025 Alaska Permanent Fund Dividend, you must:
- Be an Alaska resident for the full year of 2024
- Intend to stay in Alaska permanently
- Not have spent more than 180 days outside of the state unless for approved reasons
- Not have been convicted of a felony in 2024
- Have been physically present in Alaska for at least 72 consecutive hours during 2023 or 2024
Meeting these requirements is essential, as failing to qualify could mean missing out on the $1,702 payout.
How and When to Apply
The application window for the 2025 PFD is open from January 1 to March 31, 2025. Those who fail to apply within this period won’t be eligible for the payment—so it’s crucial to submit your application on time.
- How to apply: You can apply online through the PFD Division’s official portal. Alternatively, paper applications are available at designated offices.
- Deadline: March 31, 2025
- Processing time: Once applications are reviewed, payments are typically distributed in October 2025.
When Will You Receive Your $1,702 Payment?
If you meet the eligibility requirements and successfully submit your application before the deadline, you can expect to receive your $1,702 check in October 2025. The exact deposit date may vary, but payments are usually distributed in one lump sum either via direct deposit or a mailed check.
Why Are These Payments Issued?
The Alaska Permanent Fund Dividend (PFD) was established in 1982 to ensure that residents benefit directly from the state’s oil wealth. Every year, a portion of Alaska’s oil revenue is set aside in the Permanent Fund, and dividends are paid out to residents as a way to share the state’s financial success.
The amount of the PFD varies each year based on factors such as oil revenue, fund performance, and state budget decisions. In 2022, for instance, Alaskans received a record $3,284 PFD, while the 2023 payout was $1,312.
What About Taxes on the $1,702 PFD?
While Alaska does not have state income tax, the PFD is subject to federal taxes. That means:
- You must report it as income when filing your federal tax return.
- Children receiving a PFD will also need to report it on their tax forms.
For tax questions regarding the PFD, visit the IRS official website.
How to Track Your Payment Status
Applicants can track the status of their PFD application through the “MyPFD” portal on the Alaska Department of Revenue’s website. Here’s how to check:
- Log in to your account.
- Enter your details to view your application status.
- See updates on approval, processing, and expected payment date.
Avoiding Scams Related to the PFD Payments
With large-scale payments like the PFD, scammers often try to take advantage of unsuspecting recipients. Be aware of:
- Fake emails or phone calls claiming you need to “confirm” personal details to receive your payment.
- Scam websites asking for banking or Social Security information.
- Unverified third-party services promising to “speed up” your payment for a fee.
Conclusion: Act Now to Secure Your $1,702 Payment
If you’re an Alaska resident, this $1,702 payout could provide financial relief and support. But to get your payment, you must apply before March 31, 2025 and meet the eligibility requirements.
With deposits expected in October 2025, now is the time to check your eligibility and complete your application. Don’t miss out on your share of Alaska’s wealth!
This article has been carefully fact-checked by our editorial team to ensure accuracy and eliminate any misleading information. We are committed to maintaining the highest standards of integrity in our content.
A senior at Yale-NUS College with interests in developmental and labour economics, as well as creative non-fiction and poetry. Currently, I’m studying as an Economics major and an Arts and Humanities minor (focusing on Creative Writing) with heavy involvement in the Singaporean journalism scene and involved in research on economic history and educational policy. I’m working as an author for SKC News, Yale-NUS’ student publication, as a writer for Wingspan, Yale-NUS’ alumni magazine, and as a tutor for the NUS Libraries Writer’s Centre. | Linkedin