Proof of funds for Express Entry in 2026
Proof of funds for Express Entry is the settlement money you must show you have to qualify, not a fee you pay. This guide gives the full table by family size effective July 7, 2025, explains who is exempt, and shows how to document the money so it holds up.
Key takeaways
Proof of funds for Express Entry is settlement money you must show you have, not a fee you pay. The amount depends on your family size, with figures effective July 7, 2025 ranging from $15,263 for one person upward, plus $4,112 for each additional person. It applies to Federal Skilled Worker and Federal Skilled Trades applicants. Canadian Experience Class applicants and anyone with a valid job offer plus work authorization are exempt. Your family size counts everyone you are responsible for, even dependants who are not immigrating with you. The money must be your own, liquid and unencumbered, proven with official letters from your financial institutions. IRCC updates the amounts annually based on 50% of the Low Income Cut-Off, so confirm the live table on canada.ca.
- Proof of funds is money you show you have, not a fee, and you keep it.
- A single applicant must show $15,263; each additional person adds $4,112 (effective July 7, 2025).
- It applies to FSW and FST; CEC applicants and those with a valid job offer plus work authorization are exempt.
- Family size counts every dependant you are responsible for, even if they are not immigrating with you.
- The money must be liquid and unencumbered (not borrowed, not property equity) and proven with official bank letters.
What is proof of funds for Express Entry?
Proof of funds for Express Entry is the settlement money you must demonstrate you have so that you can support yourself and your family after you arrive in Canada. It is one of the most misunderstood parts of the Express Entry process, mainly because people assume it is a payment. It is not. You do not hand this money to the government, and you do not lose it. You simply have to show that the money exists, is yours, and is available to you. Think of it as a balance you must maintain and document, separate from the application fees you will pay along the way.
The requirement exists because the federal economic programs are designed for people who can establish themselves without immediate financial hardship. So before IRCC approves you, it wants reasonable evidence that you have enough to cover early living costs. The exact amount is tied to your family size, and it is set each year using a published benchmark, which we cover in the table below.
How much money do you need? Settlement funds by family size
Here is the full settlement funds table for Express Entry, using the amounts effective July 7, 2025. Find the row that matches your family size and read across to the amount you must show in Canadian dollars.
| Number of family members | Funds required (CAD) |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| For each additional person, add | $4,112 |
These figures come from 50% of the Low Income Cut-Off (LICO), a Statistics Canada measure, and IRCC revises them once a year. That means the amount that applies to you is the one in force on the day you are assessed, not the day you first started planning. If your application spans a year-end, the number can change, so build in a buffer and verify the live table on canada.ca before you submit.
Who needs proof of funds, and who is exempt?
Not every Express Entry applicant has to show settlement funds. Whether you do comes down to which program you qualify under and whether you have a job offer with work authorization.
You must show proof of funds if you apply through:
- Federal Skilled Worker (FSW): the main route for skilled professionals with foreign experience.
- Federal Skilled Trades (FST): the route for qualified people in skilled trades.
You are exempt from proof of funds if:
- You apply through the Canadian Experience Class (CEC): applicants with qualifying Canadian work experience do not have to show settlement funds.
- You have a valid job offer and are authorized to work in Canada: this exemption applies regardless of which program you apply under, but both conditions must be met.
A job offer can remove the funds requirement, but not add CRS points
How family size is counted (it is bigger than you think)
One of the most common and costly mistakes is undercounting family size. For proof of funds, your family size includes everyone you are responsible for, even if they are not immigrating with you. That distinction trips people up and can leave them short of the amount they actually need to show, so confirm exactly who counts for your situation on canada.ca.
When you count your family size, include:
- Your spouse or common-law partner, even if they are staying behind and not coming to Canada.
- Your dependent children, whether or not they are immigrating with you.
- Your spouse's dependent children, on the same basis.
So a couple with two dependent children is a family of four for this purpose, even if only one parent is actually relocating right now. Get this count right before you do anything else, because it directly sets the dollar figure you have to prove.
What money counts: liquid, available and unencumbered
Not all money qualifies. The funds you rely on for Express Entry must be liquid, available, and unencumbered. In plain terms, that means money you can readily access and use, that is genuinely yours, and that is not tied up or owed.
- It cannot be borrowed. A loan, even an approved one, does not count.
- It cannot be equity in property. The value of a house or land does not count, because it is not liquid.
- It should be readily accessible. Savings and many investment accounts can qualify if you can convert them to cash and use them without penalty or restriction.
Insufficient or poorly documented funds is a leading refusal reason
How to document your proof of funds correctly
You prove your funds with official letters from each financial institution that holds your money. A screenshot or a printed online balance is not enough on its own. Follow these steps to assemble documentation that holds up.
- 01
Confirm your family size and target amount
Count every person you are responsible for, including a non-accompanying spouse and all dependent children, then read the required figure from the settlement-funds table for your family size.
- 02
Request official letters from each institution
Ask every bank or financial institution holding your money for a letter on its official letterhead, including the institution's contact details, your name, your account numbers, and the date each account was opened.
- 03
Make sure each letter shows balances and history
Each letter should state the current balance and the average balance over the past several months, so an officer can see the money is stable and not a sudden deposit.
- 04
Keep the money liquid and stable
Avoid moving large sums in or out, and make sure the funds stay accessible and unencumbered from your profile submission through to your permanent residence application.
- 05
Verify the live amount on canada.ca before you submit
Because IRCC updates the figures annually, confirm the current amount for your family-size row on canada.ca on the day you submit, and keep a buffer in case the threshold rises.
If you hold money across several institutions, get a letter from each one. The total across all of them is what counts, as long as every account is genuinely yours and meets the liquid-and-unencumbered test.
How proof of funds fits your overall immigration budget
Proof of funds is a balance you keep, but the move to Canada still has real costs you pay, and it helps to see the two side by side. Beyond the settlement funds you must show, budget for government processing and right-of-permanent-residence fees, plus a range of costs that vary by person and are hard to pin to a single figure.
- Language tests: the cost varies by test and location, so budget for it and confirm current pricing with the test provider.
- Educational Credential Assessment (ECA): fees vary by the organization you use, so plan for it rather than assume a set price.
- Medical exams and police certificates: these vary by country and provider, so budget for them.
- Translations: if your documents are not in English or French, certified translation costs vary by length and language.
For the wider picture, this article is the deep dive on funds; for everything else, read our broader guide on the cost to immigrate to Canada, and use the cost to immigrate calculator to estimate your own total. Keeping your settlement funds separate from your spending money in your planning will save you a lot of stress later.
Common proof-of-funds mistakes to avoid
Most proof-of-funds problems are avoidable. These are the errors we see most often, and each one is simple to prevent if you plan ahead.
- Undercounting family size: forgetting a non-accompanying spouse or dependent children means you prove less than you actually need.
- Using borrowed money or property equity: neither counts, because the funds must be liquid and unencumbered.
- Relying on screenshots: official letters from your financial institutions are what IRCC expects, with account numbers, balances and history.
- Large sudden deposits: money that appears just before you apply, with no traceable source, invites questions and delay.
- Using last year's figure: the amounts change annually, so confirm the current threshold on canada.ca before you submit.
How Wild Mountain Immigration helps with proof of funds
Getting proof of funds for Express Entry right is mostly about counting your family size correctly, holding the right kind of money, and documenting it so an officer can verify it without doubt. Working under CICC #R706497, our team confirms the amount you must show for your family size, reviews whether your funds are liquid and unencumbered, and helps you prepare the official letters so your Federal Skilled Worker or Federal Skilled Trades application does not stall on an avoidable funds issue. We also confirm whether you might be exempt, for example through the Canadian Experience Class or a valid job offer with work authorization. We represent clients entirely online, and because the settlement-funds amounts change every year, we work from current canada.ca guidance. Start by estimating your budget with our cost to immigrate calculator, then book a free first call and we will check your family size, your funds, and your documentation.
Reviewed by a licensed RCIC (CICC #R706497). Express Entry settlement-funds amounts are set and updated by IRCC each year based on 50% of the Low Income Cut-Off, so always confirm the current figure for your family size on canada.ca before you apply.
Frequently asked questions
How much money do you need for proof of funds for Express Entry?
It depends on your family size. For the amounts effective July 7, 2025, a single applicant must show CAD $15,263, a family of two needs $19,001, a family of three needs $23,360, and a family of four needs $28,362. Each additional person adds $4,112. These figures are based on 50% of the Low Income Cut-Off and are updated by IRCC each year, so always confirm the live table on canada.ca for your exact family-size row before you submit.
Who is exempt from proof of funds for Express Entry?
Two groups do not have to show settlement funds. First, Canadian Experience Class applicants are exempt because they already have Canadian work experience. Second, anyone with a valid job offer who is also authorized to work in Canada is exempt, regardless of which program they apply under. Everyone else applying through the Federal Skilled Worker or Federal Skilled Trades programs must prove they have the required amount. If you are unsure which category fits you, a licensed RCIC can confirm it.
Does proof of funds count people who are not immigrating with me?
Yes. Your family size for proof of funds includes everyone you are responsible for, even if they are not coming to Canada with you. That means your spouse or common-law partner, your dependent children, and your spouse's dependent children all count toward the total. People often understate their family size and fall short of the required amount, so count every dependant carefully before calculating how much you need to show, and confirm the rule for your situation on canada.ca.
Can I use borrowed money for Express Entry proof of funds?
No. The funds must be your own, legally available, and unencumbered. You cannot use borrowed money, and you cannot count equity in property such as a house. The point is to show IRCC you have liquid money you can access on arrival to support yourself and your family. Gifts can be complicated and are scrutinized closely, so plan to show your own savings. If borrowed or gifted money is your only option, speak with an RCIC before you apply.
How do I prove proof of funds for Express Entry?
You prove it with official letters from each financial institution that holds your money. Each letter must be printed on the institution's letterhead and show its contact details, your name, your account numbers, the date each account was opened, the current balance, and the average balance over the past several months. Investment and savings accounts can count if the money is liquid and available. Documentation that is vague, out of date, or hard to verify is a common reason applications stall, so prepare these letters carefully.
Do I need proof of funds if I have a job offer in Canada?
Not if your job offer is valid and you are also authorized to work in Canada. That combination exempts you from the settlement-funds requirement no matter which Express Entry program you apply under. A job offer on its own without work authorization does not automatically exempt you, so check both conditions. Note that since IRCC removed arranged-employment CRS points in 2025, a job offer no longer adds to your score, but it can still remove the proof-of-funds requirement when the authorization condition is met.
When do I need to show proof of funds for Express Entry?
You must have the required funds when you submit your Express Entry profile and again when you receive an Invitation to Apply, and you must be able to show them when you apply for permanent residence. The money has to be available at each of these points, not just briefly. Because the amounts change annually, the figure that applies is the one in force on the day you are assessed, so keep an eye on the canada.ca table throughout your process.
What happens if I do not have enough settlement funds?
If you cannot show the required amount with proper documentation, your Express Entry application can be refused, and insufficient or poorly documented funds is one of the leading refusal reasons. You generally cannot make up a shortfall with borrowed money or property equity. The practical options are to build genuine liquid savings until you meet the threshold, or to qualify under a route that is exempt, such as the Canadian Experience Class. An RCIC can help you map a realistic path.
Are the Express Entry settlement funds the same as a fee I pay?
No. Proof of funds is money you show you have, not money you hand over. You keep it; it is meant to support you and your family while you settle in Canada. It is separate from the government processing and right-of-permanent-residence fees, which are actual charges. Treat proof of funds as a balance you must maintain and document, and budget separately for application fees and other costs such as language tests, credential assessments, and medicals.
Make sure your settlement funds hold up
Have a licensed RCIC confirm the amount for your family size and how to document it. Your first call is free.