The Alaska Permanent Fund Dividend (PFD) is a one-of-a-kind program that distributes a portion of Alaska’s oil revenue to its residents annually. For 2024, eligible Alaskans received $1,702, a sum that included a $1,403.83 dividend and a $298.17 energy relief payment. With December approaching, many are asking: Will there be an additional payment? Here’s everything you need to know about the 2024 PFD, its eligibility requirements, payment schedule, and how to claim it.
$1702 Alaska PFD December Payment 2024
| Aspect | Details |
|---|---|
| Total PFD Amount for 2024 | $1,702 (Dividend: $1,403.83 + Energy Relief: $298.17) |
| Payment Start Date | October 3, 2024 |
| Eligibility Criteria | Alaska residency throughout 2023, intent to remain indefinitely, and no disqualifying absences |
| Application Deadline | March 31, 2024 |
| Payment Frequency | Annual; no additional payment scheduled for December 2024 |
The $1,702 Alaska PFD for 2024 provided valuable financial relief to eligible residents. While there is no additional payment scheduled for December 2024, planning ahead for the next application period can help ensure you don’t miss out in 2025. For more details, visit the Alaska Department of Revenue’s PFD page.
What Is the Alaska PFD?
The Alaska Permanent Fund Dividend is a program that distributes a portion of the Permanent Fund’s earnings to qualified residents of Alaska. Established in 1982, the fund’s goal is to share the state’s oil wealth with its citizens while encouraging long-term residency.
In 2024, the PFD amount was $1,702, a combination of the annual dividend and an energy relief payment. While it provides significant financial support to Alaskan households, the PFD is a once-a-year payment, and no additional disbursements are planned for December 2024.
Eligibility Criteria for the 2024 PFD
To qualify for the Alaska PFD, applicants must meet strict eligibility requirements. Here’s a breakdown:
1. Alaska Residency
- You must have been a resident of Alaska for the entire 2023 calendar year.
- You must have the intent to remain in Alaska indefinitely.
2. Absence Limitations
- You cannot have been absent from Alaska for more than 180 days in 2023, unless the absence falls under allowable exceptions such as education, military service, or medical care.
- You must not have claimed residency in another state or country.
3. Legal Compliance
- You cannot have been convicted or incarcerated for certain felonies or disqualifying misdemeanors during the qualifying year.
4. Application Submission
- Your application for the 2024 PFD must have been submitted by March 31, 2024.
For detailed eligibility guidelines, visit the PFD Eligibility page.
Claiming the PFD
If you applied for the 2024 PFD by the deadline and met all eligibility criteria, here’s how the process works:
Step 1: Application
Applications were accepted from January 1 to March 31, 2024. Applicants could choose between:
- Online Application: The fastest and most secure method, completed via the myAlaska portal.
- Paper Application: Available for download or at designated distribution centers.
Step 2: Documentation
Applicants needed to provide supporting documents such as:
- Proof of residency (e.g., lease agreements, utility bills).
- Identification (e.g., driver’s license or passport).
- Evidence of allowable absences, if applicable.
Step 3: Payment
Eligible applicants in “Eligible-Not Paid” status as of September 20, 2024, received their PFD on:
- October 3, 2024 (Initial Payment Date)
Subsequent payment dates were scheduled for applicants who achieved “Eligible-Not Paid” status later:
- October 26, 2024
- November 21, 2024
Direct deposits were processed faster than mailed checks. Ensure your banking information is accurate in your myPFD account.
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PFD Payment Distribution and Usage
The PFD provides a significant financial boost to Alaskan residents. Many households use the funds for:
- Winter Preparations: Heating costs, clothing, and food supplies.
- Debt Reduction: Paying off credit cards or loans.
- Savings and Investments: Setting aside money for emergencies or future needs.
Frequently Asked Questions (FAQs)
Q1: Will there be another PFD payment in December 2024?
A: No, the Alaska PFD is an annual payment. The 2024 PFD was distributed starting in October, and no additional payments are scheduled for December.
Q2: How can I check my PFD application status?
A: Log in to your myPFD account to view your application status.
Q3: What should I do if I missed the application deadline?
A: If you missed the March 31, 2024 deadline, you are not eligible for the 2024 PFD. Mark your calendar to apply for the 2025 PFD starting January 1, 2025.
Q4: Are PFD payments taxable?
A: Yes, PFD payments are considered taxable income by the IRS. You will receive a Form 1099-MISC for tax purposes.
Q5: Can children receive the PFD?
A: Yes, children are eligible for the PFD if their parents or legal guardians apply on their behalf and meet all eligibility criteria.
How to Prepare for the 2025 PFD
If you missed the 2024 application or are planning ahead for next year, here are some tips:
- Set Reminders: Mark your calendar for the next application period, January 1 to March 31, 2025.
- Gather Documents Early: Ensure you have proof of residency and any necessary paperwork for allowable absences.
- Apply Online: Use the myAlaska portal for faster processing.
- Keep Your Information Updated: Regularly update your banking and contact details in your myPFD account.
