There are many benefits to living in the state of Alaska. In addition to the stunning landscape, Alaskan Citizens also receive an annual amount of money from the state each year. This money comes from the Permanent Fund Dividend, which draws part of its income from the state’s oil revenues. 90% of Alaskans apply for and receive their piece of the fund. Make sure you know how to receive your money each year.
StepsMethod 1Method 1 of 3:Making Sure You are Eligible
1Learn about the fund. The Permanent Fund Dividend is also called the Alaska Dividend. Each year, Alaska invests part of its oil revenue into this investment fun. Many states have investment funds, but Alaska is the only one who provides every citizen with an annual dividend from the fund. Since 1982, Alaskan citizens have received annual income from the PFD. This money is given to every man, woman, and child who is a citizen of the state.
2Know who is eligible. There are several requirements residents must meet to be eligible to receive their dividend. You must have lived in Alaska for a full calendar year and you must intend to remain in Alaska indefinitely. Additionally, cannot have claimed residency in any other states during that year. XYour criminal history is also taken into account. You cannot have been convicted of a felony in the past calendar year. If you were incarcerated, you are not eligible for the dividend.If you were absent from Alaska for more than 180 days, you need to make sure it was an allowable absence. Check with the governor’s office to make sure your absence was approved.
3Make any necessary changes. If you don’t meet the requirements for this year, you can take steps to ensure that you are eligible for the next dividend. The most important thing you can do is to establish residency. It is not enough to simply be physically present in Alaska.X In order to establish residency, you must:Move to Alaska;Prove your intent to stay, which could be done by buying a home, getting a job, registering to vote, or registering a vehicle;Preserve documents that prove your residency;Sever connections to other states; andMaintain the residency requirements for one year.XMethod 2Method 2 of 3:Applying for Your Dividend
1Review the qualifications. The eligibility requirements are not set in stone, so make sure that you review the most up to date date on the fund. If you have successfully been receiving your dividend for years, there is no reason to think it will stop, unless your status has changed.XIf you are not certain if you are eligible, you can contact the governor’s office or visit the PFD website to view the most recent updates.
2Gather the necessary materials. If you have recently moved to Alaska, this might be your first time applying for your permanent fund dividend.You want to make sure that you have proof of residency. The documents that you provide will need to include dates that indicate you have been in residence for the previous calendar year.XThere are several different types of documents that can be used as proof of residency. You can use school records, your voter registration card, employment records, or motor vehicle registration paperwork.
3Visit the website. You start applying for your PFD on January 1. On this date, you will be able to visit the PFD website and start your application.XEvery person who wishes to receive a payment must fill out a separate application.X
4Get a hard copy. If you would rather have a hard copy of your PFD application, you can get a copy at any distribution center in the state.X
5Complete the application. The application period is from January 1 through March 31 every year. During those months, the application is available to all Alaska residents. The easiest way to complete the application is by using the online form provided by the government of Alaska. XIf you prefer to fill out a paper application, they are available at statewide Distribution Centers.The sooner you fill out your application, the sooner it will be processed.
6Sign the application. Before you file, you will need to sign your application. Even if you file electronically, you must still sign the document. There are two ways: either print a signature page off or sign electronically.To print a signature page, click on the “Reprint a Signature” tab at the PFD website. The link is on the right.Enter your applicant details and hit “Search.” Then click “Required Item” and then “Document Center.”Print off the signature page after selecting it from “Required Items.” Mail the signed page to the “Alaska Department of Revenue, Permanent Fund Dividend Division, P.O. Box 110462, Juneau, AK 99811-042.” It may also be faxed to 907-465-3470.Alternately, you may sign the application electronically. To do so, you must create a myAlaska.gov account.XA myAlaska account is only available if you are an adult who has received the PFD previously.
7File your application. The application deadline is March 31. When you file your application, make sure you retain a receipt as proof of filing. If you filed online, print off the receipt page when it comes up. If you mail it in, make sure you keep your postage receipt. If you filed it in person, ask for a receipt.Method 3Method 3 of 3:Receiving Your Dividend
1Choose your payment method. The government of Alaska makes it pretty simple to receive your money. You can choose to either receive your money via direct deposit, or you can have a traditional check mailed to your home address. If you choose direct deposit, you’ll need to provide your financial information in advance. You can do that online on the website for the Alaskan government.XIf you have a child, he or she will also receive a check. As a parent, you can cash the minor’s PFD check. You will simply need to provide picture identification at an Alaska USA branch.
2Pay attention to updates. You will be informed in advance of the date of distribution. This date is provided on the state website, and is often reported in the news. You will also be informed of the amount of your dividend.XSince the PFD is based on investments, the amount distributed each year will vary. News about the specific amount for the year is usually released in the summer, with the actual distribution
3Enjoy your money. The PFD is one of the great things about living in Alaska. It is one of the very few examples of guaranteed income in all of the United States. Many Alaskans like to use their dividend to treat themselves to something nice. Maybe you’d like to go on a vacation or make a down payment on a new car. Whatever you choose, enjoy!
