Alaska Fund Direct Payments: Application Period Unlocks in Four Days – Stimulus Update

Commencing in four days, eligible residents of Alaska will have the opportunity to submit applications for participation in the 2024 cycle of the Permanent Fund Dividend program. 

This annual application period, extending from January 1, 2024, to March 31, 2024, represents the window during which Alaskans can apply for a direct payment provided by the state. 

The amount of this annual payment is determined based on the state’s mineral revenues for the corresponding year. 

As a pivotal initiative, the Permanent Fund Dividend program aims to allocate financial benefits to eligible Alaskans, with the application period serving as the designated time frame for individuals to avail themselves of this opportunity.

Eligibility For Alaska Permanent Fund Dividend

To be eligible for a payment during the year, an Alaska resident is required to submit an application within the specified application window, even if they have received payments in previous years. 

While there are certain exemptions permitting applications beyond the regular period, the majority of residents must apply between January and March to be considered for a payment. The application status can also be tracked on the program’s official website.

To qualify for the Permanent Fund Dividend program, applicants must have the intention of maintaining Alaska residency indefinitely and meet other specified criteria, including not having a felony conviction. 

Residents of Alaska have the option to complete their program applications through either an online platform or a paper form.

The monetary value of the Permanent Fund Dividend payment varies annually. For the year 2023, eligible residents received checks amounting to $1,312, with disbursements commencing in October.

Commissioner Adam Crum Notes Surge in Applications in Alaska

In a statement addressing the 2023 disbursements, Alaska Department of Revenue Commissioner Adam Crum highlighted the processing of over 8,000 additional applications compared to the previous year. 

Commissioner Crum emphasized that the 2023 Permanent Fund Dividend (PFD) distribution is poised to infuse nearly $1 billion into the state’s economy, benefiting Alaskans directly.

For additional details on exemptions to the standard application period and comprehensive information about the state program, interested parties can refer to the dedicated section on the Alaska Department of Revenue’s website focused on the Permanent Fund Dividend.