More shareholders than expected participated in BSNC’s CARES Round 2 application, which lowered the available amount of funding for each shareholder who applied. BSNC has fully extinguished its available CARES funding through direct financial support to shareholders.

The BSNC CARES program has been full expended. There will be no further CARES funds available. BSNC does not anticipate receiving further federal assistance funds at this time. Check the beringstraits.com for updates on the corporation and follow the latest news releases on Facebook and Instagram.

BSNC staff is working as quickly as possible to process applications, including incomplete applications. If BSNC calls you, please answer to ensure timely processing of your application.

CARES Act Round #2 payment is scheduled to be paid in late January, 2022.

The Coronavirus Aid, Relief, and Economic Security Act or (CARES Act), was passed by Congress on March 27, 2020. This bill allotted $2.2 trillion to provide fast and direct economic aid to the American people negatively impacted by the COVID-19 pandemic. The CARES Act reserved $8 billion from the Coronavirus Relief Fund (CRF) for payments to Tribal governments.

In April 2020, the U.S. Department of Treasury determined that ANCs were eligible to receive relief under Title V of the CARES Act, and the Department set aside a portion of the $8 billion for payment to ANCs. A number of federally recognized tribes subsequently challenged this determination, arguing that ANCs were not eligible for Title V payments because (1) ANCs do not meet the Indian Self-Determination and Education Assistance Act’s definition of “Indian tribe,” and (2) ANCs are not or do not have a “recognized governing body” of an Indian tribe.

On June 25, 2021, in Yellen v. Confederated Tribes of the Chehalis Reservation, the Court ruled that ANCs are “Indian tribes” under the Indian Self-Determination and Education Assistance Act of 1975 and are therefore eligible to receive certain COVID-19 relief funds made available under Title V of the CARES Act. The U.S. Treasury said it would allocate nearly $443.9 million to ANCs, which include 12 regional corporations and more than 200 village corporations. The amount allocated to ANCs is less than 6 percent of the total allocated for Tribal relief.

This ruling also safeguards ANCs’ economic self-determination by protecting our ability to participate in the Native 8(a) Program, which operates in tandem with the U.S. SBA 8(a) Business Development Program. Through its subsidiaries, BSNC is proud to serve government customers and our nation’s military by providing optimal, reliable services to achieve mission success.

See the Supreme Court’s decision: https://www.supremecourt.gov/opinions/20pdf/20-543_3e04.

BSNC received its allocation of CARES Act funding in the amount of just under $15 million.

BSNC’s CARES Act Direct Assistance Program (DAP) is a program that allows BSNC to provide cash assistance directly to eligible BSNC shareholders who experienced extra expenses and/or loss of income related to the COVID-19 pandemic that have not been paid by or reimbursed by any other Alaska Native corporation, CARES Act Program or federal, state, tribal or local government. This program is funded through the corporation’s allocation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act funding from the federal government.

Yes. All financial hardships must have occurred between March 1, 2020, and December 31, 2021.

Eligible shareholders qualify to apply for a one-time payment of up to $2,000.

Eligible shareholders are defined as individuals that are 18 years or older and have held voting shares of BSNC stock as of, or before, Sept. 17, 2021. Minors (under age 18) that have held voting shares of BSNC stock as of, or before Sept. 17, 2021 also qualify, but their applications must be filled out and signed by a legal parent or guardian that is at least 18 years or older.

Yes, if the minor child is a BSNC shareholder.

Applications will be accepted beginning Sept. 24 through Dec.10.

To apply, visit the MyBSNC shareholder portal at https://shareholder.bsnc.net/home. If you have questions or need a paper application, email bsnccares@bsnc.net. Paper applications may be submitted by mail to Bering Straits Native Corporation, Attn: BSNC CARES Act Direct Assistance Program, 3301 C Street, Suite 400, Anchorage, Alaska 99503 or by email to bsnccares@bsnc.net. Each eligible shareholder should only submit one DAP application form and multiple adults cannot be listed on one application.

Shareholders who submit an application online received an email from BSNC confirming receipt of their application. Shareholders are able to verify the receipt of their application by logging into the MyBSNC portal and can track the status of their application. BSNC sent letters to people whose applications were incomplete and an email was sent to those who were ineligible.

No, all complete applications received by the Oct. 29, 2021 deadline are eligible to receive payment. Complete applications will be processed in the order they are received. To receive funds, approved applicants must be alive on the date of distribution of the DAP payment. Failure to submit the required information will delay processing and may cause the application to be denied.

Yes. Shareholders are eligible to apply if they are at least 18 years of age. Minor shareholders may apply by having a parent or legal guardian that is 18 years or older submit their application on their behalf.

Yes. DAP funds are available to all shareholders who meet certain criteria, regardless of where they live, as long as the applicant is a U.S. citizen. Please note that direct deposit may not be available to individuals residing outside of the United States.

No. Regardless of your age, eligible applicants are all qualified to receive the same amount of cash assistance: A one-time payment of up to $2,000.  The exact amount of the distribution will depend upon the number of shareholders who apply but will not exceed $2,000.

No. At this time, the DAP is only available to eligible shareholders.

No.

No. The DAP is funded through BSNC’s allocation of CARES Act funding. It is not a BSNC or BSNC Settlement Trust distribution or “special dividend.”

No. As long as you can demonstrate unreimbursed negative financial hardship expenses from COVID-19 for the time period March 1, 2020 to Dec. 31, 2021, the money is yours to keep.

The DAP application lists a number of categories of potential financial hardships. Applicants are required to check the boxes corresponding to COVID-related financial impacts they have experienced that have not been paid or otherwise reimbursed by another Alaska Native Corporation, CARES Act program, or federal, state, tribal, or local government. For example, if an applicant lost his or her job, and already received payment or reimbursement from another source for that job loss, he or she may not claim the same loss a second time with BSNC.

All applicants must certify that the expense or financial hardships for which assistance is sought have not been otherwise accounted for or reimbursed.

Receipts are not required to be submitted; however, applicants must agree to maintain reasonable documentation of the expenses for which DAP funds are received for at least five years and, upon reasonable request, to assist BSNC during that five-year period by providing copies of documentation and any other information necessary to verify the expenses.

BSNC is processing applications as quickly as possible. Applications completed through the MyBSNC portal are able to be processed faster. Once processed, direct deposit payments should reach bank accounts within 3 business days and checks can be expected within 14 business days. Apply online for faster processing! Go to www.beringstraits.com and click on MyBSNC Portal or go to https://shareholder.bsnc.net/home.

Approved payments will be mailed in check form to the address on file with the Shareholder Department or direct deposited. If your mailing address has changed, please check the box on the application that says it is a new address and the Shareholder Department will update your record. Please register for direct deposit through the MyBSNC shareholder portal at https://shareholder.bsnc.net/home.  

No, DAP is reimbursement for expenses you previously incurred.

As stated in the BSNC CARES Act Direct Assistance Program application, BSNC cannot offer advice about taxes. Please read IRS guidelines or seek advice from a trusted tax adviser.

No, 1099s will not be mailed.

Possibly, depending on your individual circumstances. Please consult with your program case worker or the appropriate agency. BSNC cannot offer advice about this.

Yes.

It depends. The important thing to remember is that you cannot “double-dip.” In other words, you cannot apply for financial assistance from multiple sources and claim the same expenses. As an example, if you incurred $2,000 in increased utility costs due to the COVID-19 pandemic (such as higher internet, phone, electric or other costs associated with working from home), and those expenses were not otherwise paid or reimbursed, you could apply to receive $2,000 in DAP funds. However, you could not apply to have those same expenses reimbursed by another Alaska Native corporation.

No.

Yes.