Great news for Alaskans! This year, the Alaska Department of Revenue has confirmed that the Permanent Fund Dividend (PFD) will be worth $1,702. This includes a standard dividend of $1,403.83 and a $298.17 energy relief payment, providing some extra cushion as we head into the colder months.
“This is the 43rd year Alaskans have received their share of the state’s natural resources and investment earnings,” said Department of Revenue Commissioner Adam Crum. “The 2024 PFD will create economic opportunity across all of our local communities.”
With around 600,000 Alaskans expected to receive this payment, it’s important to know exactly when and how you can expect your share. Here’s what you need to know to ensure you get your payment on time.
When Will You Receive Your Payment?
The Alaska Department of Revenue has laid out a clear payment schedule for this year, depending on how and when you filed your application. Here’s what you need to keep in mind:
- For those who filed online and chose direct deposit:
- Disbursement Date: October 3, 2024
- You’ll be among the first to receive your payment directly into your bank account. It’s the quickest and most convenient option.
- For those who filed by paper or chose to receive a paper check:
- Disbursement Date: October 24, 2024
- If you prefer a traditional check, it will take a little longer to arrive in your mailbox. Be sure to keep an eye out!
What if Your Application Is in “Eligible-Not Paid” Status?
If your 2024 (or prior year) application is still in “Eligible-Not Paid” status, here’s what you need to know:
- September 4, 2024, Cut-off:
- Payments will be distributed on September 12, 2024, for all applications marked “Eligible-Not Paid” by this date.
- September 20, 2024, Cut-off:
- If your application is processed by this date, your payment will be made on October 3, 2024.
- October 14, 2024, Cut-off:
- Any remaining eligible applications will receive their payments on October 24, 2024.
How to Ensure You Get Your Payment Quickly
- Check Your Application Status:
- Make sure your application status is marked as “Eligible” and that there are no pending issues.
- Opt for Direct Deposit:
- If you haven’t already, consider switching to direct deposit. It’s faster and eliminates the wait for a paper check.
- Verify Your Mailing Address:
- For those receiving paper checks, ensure your address on file is correct to avoid delays.
Still Waiting? Here’s What to Do
If you haven’t received your payment by the expected date, try not to worry. Processing times can vary, especially if there were any issues with your application. However, the Department of Revenue advises against calling about your payment status before the scheduled disbursement dates, as representatives won’t have additional information until then.
Stay Informed
The PFD is more than just a financial boost; it’s a reflection of our shared ownership in the state’s natural resources. Whether you plan to save it, spend it, or invest it, make sure you’re in the know about when your payment is coming.
Stay warm, stay prepared, and enjoy your dividend this year!