$1,702 Direct Deposits Confirmed After Stimulus Checks: In 2025, the IRS will issue special stimulus checks to people who filed tax returns in 2021 but did not claim an Economic Impact Payment (EIP) even though they were eligible for it. In addition, the state of Alaska will also provide PFD (Permanent Fund Dividend) payments to its eligible residents. If you are a resident of Alaska and eligible for a PFD payment, this information is important for you.
What is a PFD?
The Permanent Fund Dividend (PFD) program pays a fixed amount of money each year to eligible residents of Alaska. This amount is derived from investment profits from mineral royalties, which the Alaska Department of Revenue distributes. Applicants must meet several conditions to receive a PFD.
New PFD payment dates in 2025
If you were not eligible for the January 16, 2025 payment, the Alaska Department of Revenue has announced two new payment dates for 2025:
- February 20, 2025: If your PFD status was updated to “Eligible-Not Paid” by February 12, you will receive this payment on February 20.
- March 20, 2025: Some eligible beneficiaries will receive a payment of $1,702.
So far, these are the only two payment dates officially announced for 2025.
Can I still apply for a PFD payment?
Yes, you can apply for a Permanent Fund Dividend, but only people who applied in 2024 will receive payments in 2025.
PFD Application Period for 2025:
- Applications can be made from January 1, 2025 to March 31, 2025.
You can apply online and only one application per person will be accepted.
PFD Eligibility Conditions:
- Must have been a resident of Alaska during the entire year 2024.
- Intend to reside in Alaska permanently.
- Must not have applied for residency in another state or country.
- Must not have been convicted of a criminal case or received a prison sentence in 2024.
- Must not have been absent for more than the maximum allowed days set by DOR.
- Must have been physically present for the prescribed time.
For more information, you can visit pfd.alaska.gov.
Importance of PFD Payments
PFD payments are an important financial assistance for Alaska residents. It distributes a portion of the investment profits derived from mineral resources to the people. The program aims to increase economic stability and provide financial independence to Alaska residents.
Conclusion
In 2025, eligible Alaska residents will receive two types of financial benefits—the IRS’s special stimulus checks and PFD payments from the state government. If you applied earlier, you may receive your payment on February 20 and March 20. Read the application process and eligibility criteria carefully so that you can get the benefits without any delay.
FAQs On $1,702 Direct Deposits Confirmed After Stimulus Checks
Q. What will be the amount of the PFD payment?
A. Eligible beneficiaries will receive $1,702 on March 20 in 2025.
Q. Can I apply for a PFD if I did not apply in 2024?
A. No, only people who applied in 2024 can receive a PFD payment in 2025.
Q. How long do I have to be a resident to receive a PFD payment?
A. You must reside in Alaska during the entire 2024 calendar year.