If you’ve seen headlines claiming the IRS is sending out a $1,702 stimulus check soon, you’re not alone. Social media is buzzing with viral posts claiming millions are about to receive this payment. But here’s the truth—unless you live in Alaska, that money’s not for you.
The $1,702 figure is real, but it’s not a federal stimulus check. It comes from Alaska’s Permanent Fund Dividend (PFD), a yearly payout funded by the state’s oil revenues. Let’s clear up the confusion and explain who actually qualifies, how it works, and when the payments will go out.
Context
The Alaska Permanent Fund was created in 1982 to share the state’s oil and mineral wealth with residents. Every year, qualifying Alaskans get a payment from the fund. The amount varies based on investment returns and state budgeting decisions.
This year’s payment is $1,702 for those eligible. It’s not new. It’s part of the 2024 dividend program and is being distributed in several waves depending on application status.
Schedule
If your application for the 2024 dividend—or one from a previous year—is marked as “Eligible-Not Paid” by certain deadlines, here’s when to expect payment:
| Application Status Date | Payment Date |
|---|---|
| August 13, 2025 | August 21, 2025 |
| September 3, 2025 | September 11, 2025 |
| September 18, 2025 | October 2, 2025 |
| October 13, 2025 | October 23, 2025 |
Keep in mind, these are state-level distributions, not federal stimulus checks. That’s a key difference.
Fund
Alaska’s Permanent Fund is a financial powerhouse. It currently holds around $81.45 billion in assets. Since its launch, the fund has paid out an average of $1,299 per person per year, or about $4,916 annually for a family of four.
However, next year’s dividend is expected to be smaller. The Alaska legislature has approved a $1,000 payout for the 2025 dividend, payable in 2026. Lower oil and gas revenue are to blame for the decrease.
Eligibility
So who qualifies for the $1,702 payment? It’s stricter than you might think.
You must:
- Be a resident of Alaska for the full 2024 calendar year
- Not have claimed residency in another state or country
- Be physically present in Alaska for at least 72 straight hours during 2023 or 2024
- Not be sentenced or incarcerated for a felony in 2024
- Not be jailed for a misdemeanor if you’ve previously been convicted of a felony
Even children qualify, as long as their parents or guardians meet the rules.
Viral Misunderstanding
So, where did the confusion start? Misleading headlines and clickbait. Articles with vague titles like “IRS Confirms $1,702 Stimulus” make it sound like a nationwide payout is coming, but they bury the key detail—it’s only for Alaska residents.
There is no new federal stimulus worth $1,702. So if you don’t live in Alaska, don’t expect a check.
And if anyone contacts you saying you’re eligible but asks for a fee or personal information, it’s likely a scam. The Alaska Department of Revenue and IRS do not send texts or emails requesting private data.
FAQs
Is the $1,702 stimulus real?
Yes, but it’s only for Alaska residents as part of the PFD.
Who qualifies for the $1,702 check?
Alaskans who lived in-state all of 2024 and meet other rules.
When will the $1,702 payments go out?
Starting August 21, based on application status dates.
What is the Alaska Permanent Fund?
A fund that pays residents yearly using oil and mineral revenues.
Will there be a similar payment in 2026?
Yes, but it’s expected to be only $1,000 next year.
