In five days, eligible residents in Alaska will be able to apply for the state's Permanent Fund Dividend program for 2024.

The annual application period for the program will be open from Jan. 1, 2024, to March 31, 2024, next year. The program offers Alaskans a direct payment annually based on the state's mineral revenues for that year.

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For a resident to be eligible for the program, an Alaskan must intend to remain a resident of the state indefinitely and not be a convicted felon, among other requirements. Alaskans can fill out their applications for the program either online or through a paper form.

To get the annual payment each year, a resident must apply during the application window, even if that person has received a payment in the past. Some people who do not file by the March 31 deadline may be eligible for an exemption past the regular application period. The status of an application to the program can also be viewed on the website.

The amount a resident receives from Permanent Fund Dividend varies by year, but the checks sent in 2023 were worth $1,312 and began sending them out to eligible residents in October.

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"This year, we processed over 8,000 more applications than in 2022," Alaska Department of Revenue Commissioner Adam Crum said in a statement about the 2023 checks. "The 2023 PFD will inject nearly $1 billion into the state's economy and directly into the hands of Alaskans."

More information on exemptions to the application period and other details about the program can be found on the Alaska Department of Revenue’s website.