What Is the $1,702 Stimulus Payment?
Alaska residents are getting ready for a financial boost in 2025 through the state’s Permanent Fund Dividend (PFD) program. This unique program shares Alaska’s oil wealth with its people, giving each eligible person $1,702 this year. The payment comes from the Alaska Permanent Fund, set up in 1976 to save oil revenue for future generations. The fund invests in things like stocks and real estate, and about 5% of its earnings are paid out to residents each year. For 2025, the payout includes a regular dividend of $1,403.83 plus an extra $298.17 to help with high energy costs. This money helps families cover everyday expenses and supports Alaska’s economy by encouraging local spending.
Who Can Get the Payment?
To get the $1,702 payment, you need to meet specific rules. You must have lived in Alaska for all of 2024 and plan to stay there permanently. You also need to have been in the state for at least 72 consecutive hours in 2023 or 2024. If you were away for more than 180 days, you need a good reason, like school, medical treatment, or military service, and you must provide proof. People with felony convictions or multiple misdemeanors in 2024 can’t get the payment. Everyone, including kids, needs to apply separately. Missing the application deadline or giving wrong information can delay or stop your payment, so double-check everything before submitting.
When and How Will Payments Arrive?
Payments will start rolling out in April 2025, with specific dates based on when your application is approved. Most people will get their money through direct deposit, which is faster and safer. Paper checks will take longer because of mail delivery. Here’s the schedule for 2025:
| Application Approved By | Payment Date |
|---|---|
| April 9, 2025 | April 17, 2025 |
| May 7, 2025 | May 15, 2025 |
| June 11, 2025 | June 18, 2025 |
If your application is marked “Eligible-Not Paid” by June 11, you’ll get your payment on June 18. To avoid delays, make sure your banking or mailing details are up to date on the PFD website.
Tax Information You Need to Know
Alaska doesn’t tax the PFD, but the federal government counts the $1,702 as taxable income. You’ll need to report it on your 2025 federal tax return. If you usually owe taxes, you might want to save some of the payment for tax season or adjust your tax withholding to avoid a big bill. Talking to a tax professional can help you plan so you’re not caught off guard when filing your taxes.
How to Apply for the Payment
You can apply for the 2025 PFD from January 1 to March 31, 2025, through the PFD website at pfd.alaska.gov or by mailing a paper application. The deadline is April 1, and Alaska doesn’t accept late applications, so don’t miss it. When applying, provide your personal details, proof of residency, and banking information for direct deposit. If you were away from Alaska for a while, include documents explaining why. Common mistakes, like missing the deadline or giving wrong details, can cause delays or denials, so be careful. For the latest updates, check pfd.alaska.gov or talk to a tax advisor for help with tax questions.
Why This Matters for Alaskans
The $1,702 payment is more than just extra cash—it’s a way for Alaska to share its natural resource wealth with its people. It helps families pay for things like groceries, bills, or school supplies, especially during tough economic times. The program also shows Alaska’s commitment to thinking long-term, saving oil money for future generations while helping residents today. By applying on time and keeping your information correct, you can make sure you get your share of this unique benefit.
