Express Entry proof of funds in 2026
Express Entry proof of funds 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
Express Entry proof of funds 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 Express Entry proof of funds?
Express Entry proof of funds 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.
What is the Express Entry funds requirement in 2026?
The Express Entry funds requirement in 2026 is CAD $15,263 for a single applicant, $19,001 for a family of two, $23,360 for three, $28,362 for four, $32,168 for five, $36,280 for six and $40,392 for seven, adding $4,112 for each family member beyond seven (IRCC table updated July 7, 2025, still the current table on October 13, 2026). Find your family-size row in the full settlement funds table below 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. When IRCC published the July 7, 2025 table, it told candidates already in the pool that they might need to update the proof of funds in their profile by July 28, 2025 to stay eligible. Because the figures can change between planning and applying, build in a buffer and verify the live table on IRCC's proof of funds page before you submit.
Who needs proof of funds, and who is exempt?
Federal Skilled Worker and Federal Skilled Trades applicants must show settlement funds, while Canadian Experience Class applicants and anyone who holds both a valid job offer and authorization to work in Canada are exempt. The program you qualify under, and that job-offer-plus-authorization pairing, are the only two things that decide it.
You must show proof of funds if you apply through:
- Federal Skilled Worker (FSW): you must show settlement funds if you apply through the Federal Skilled Worker Program, the main route for skilled professionals with foreign experience.
- Federal Skilled Trades (FST): you must show settlement funds if you apply through the Federal Skilled Trades Program, 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.
Express Entry changes on 3 November 2026
IRCC announced on 16 October 2026 that from 3 November a new Labour Market Integration factor, worth up to 150 CRS points (140 with an accompanying spouse or partner), will give points for either Canadian work experience or a job offer in a high-wage occupation, whichever scores higher. A qualifying job offer will not need an LMIA. The rules described below apply until then. Read what changes or IRCC's notice.
A job offer can remove the funds requirement, but not add CRS points
Does the Canadian Experience Class require proof of funds?
No. Canadian Experience Class applicants do not need proof of funds: IRCC exempts anyone applying under the CEC from the settlement-funds requirement, with or without a job offer (IRCC proof of funds page, read October 13, 2026). Two practical points still apply to CEC proof of funds:
- Upload a letter instead of bank statements: IRCC's system asks every applicant for a proof-of-funds document, so a CEC applicant uploads a short letter explaining that they were invited under the Canadian Experience Class.
- Keep the funds in your profile current: if your profile is also eligible for the Federal Skilled Worker or Federal Skilled Trades program, IRCC warns that you will not always know in advance which program you are invited under, so list the money you actually hold.
If you are not sure you meet the one year of Canadian work the CEC needs, our Canadian Experience Class requirements guide sets out the hours, TEER and language rules.
How family size is counted (it is bigger than you think)
Your family size for proof of funds counts everyone you are responsible for, including the people who are not immigrating with you: your spouse or common-law partner, your dependent children and your spouse's dependent children all go into the total. Undercounting is a costly mistake, because it leaves you short of the amount you actually have to prove. IRCC sets out exactly who counts on its proof of funds page.
When you count your family size, include:
- Spouse or common-law partner: your spouse or common-law partner counts in your family size even if they are staying behind and not coming to Canada.
- Dependent children: your dependent children count whether or not they are immigrating with you.
- Stepchildren: your spouse's dependent children count on the same basis, accompanying or not.
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 do "transferable, available and unencumbered" funds mean?
Section 76(1)(b)(i) of the Immigration and Refugee Protection Regulations requires Federal Skilled Worker applicants to hold transferable and available funds, unencumbered by debts or other obligations, equal to one half of the minimum necessary income for their family size (Justice Laws, regulations current to 21 September 2026, checked 12 October 2026). The full text of section 76 on the Justice Laws website is the legal source for the settlement-funds rule, and IRCC's proof of funds page turns it into the practical conditions below.
| Wording in the regulation | What IRCC's proof of funds page requires |
|---|---|
| Transferable | You must prove you can legally access the money in Canada when you arrive, and use it to pay your family's costs of living, even for family members who are not coming with you. |
| Available | The funds must be available to you both when you apply and when IRCC issues your permanent resident visa. |
| Unencumbered by debts or other obligations | You cannot use equity in real property or borrow the money from another person, and each bank letter must list your outstanding debts such as credit card balances and loans. |
In plain terms, the funds you rely on must be money you can access and use in Canada, that is genuinely yours, and that is not borrowed or tied up in property equity.
- Borrowed money: a loan does not count as settlement funds, even an approved one, because the money has to be your own.
- Property equity: the value of a house or land does not count, because IRCC does not accept equity in real property as settlement funds.
- Accessible savings and investments: savings and investment accounts can count, as long as you can legally access and use the money in Canada.
Insufficient or poorly documented funds can lead to refusal
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, history and debts
Each letter should state the current balance, the average balance over the past six months, and your outstanding debts such as credit cards and loans, 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 the day IRCC issues your permanent resident visa.
- 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.
Can I use a joint account or my spouse's account for Express Entry proof of funds?
If your spouse is coming with you to Canada, you can count money you hold together in a joint account, and money in an account under your spouse's name only may count if you prove you have access to it (canada.ca, checked 12 October 2026).
- Joint account: money you hold together with your spouse counts toward your total when your spouse is coming with you.
- Spouse-only account: money in an account under your spouse's name alone may count, but you must prove you have access to it, so expect to show how you can reach and use the money.
- Letters: IRCC asks for official letters from the banks or financial institutions where you have an account, showing balances, the six-month average and your outstanding debts.
- Where the rule applies: IRCC words this rule for a spouse who is coming with you, so confirm your own situation before counting a spouse's money.
When must the money be available: at application and at PR visa issuance?
Your settlement funds must be available to you both when you apply for permanent residence and when IRCC issues your permanent resident visa, and you must be able to legally access them in Canada when you arrive (canada.ca, checked 12 October 2026).
- In your profile: IRCC says that if you have more money than the minimum you should list the full amount in your profile or application.
- At application: if IRCC invites you to apply, you must give written proof of the money, in the form of the official bank letters described above.
- At visa issuance: the money must still be available when IRCC issues your permanent resident visa, if it approves your application.
- In the pool: IRCC lists no longer having enough funds as a common reason a profile becomes ineligible, so do not spend the money while you wait.
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
The five proof-of-funds errors we see most often are undercounting family size, relying on borrowed money or property equity, sending screenshots instead of bank letters, making a large unexplained deposit shortly before applying, and using last year's threshold. 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 Express Entry proof of funds 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 get your free assessment and we will check your family size, your funds, and your documentation.
Reviewed by a licensed RCIC (CICC #R706497). IRCC sets the Express Entry proof of funds amounts each year based on 50% of the Low Income Cut-Off, and the table on this page is the one IRCC dates July 7, 2025 on its proof of funds page, checked October 12, 2026.
Frequently asked questions
How much money do you need for proof of funds for Express Entry?
A single applicant must show CAD $15,263, a family of two $19,001, a family of three $23,360 and a family of four $28,362, with $4,112 added for each family member beyond seven (IRCC, amounts effective 7 July 2025). Family size, not the program you apply under, sets the figure. IRCC calculates the amounts from 50% of the Low Income Cut-Off and revises them once a year, and it publishes the live table on canada.ca.
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. 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.
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. 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, the average balance over the past six months, and your outstanding debts such as credit card balances and loans. Investment and savings accounts can count if the money is liquid and available. Documentation that is vague, out of date, or hard to verify can cause problems with your application, so prepare these letters carefully.
Can I use a joint account or my spouse's account for Express Entry proof of funds?
If your spouse is coming with you to Canada, you can count money you hold together in a joint account, and money in an account under your spouse's name only may count if you prove you have access to it (IRCC, canada.ca, checked 12 October 2026). IRCC words this rule for a spouse who is coming with you.
What do transferable, available and unencumbered funds mean for Express Entry?
Section 76(1)(b)(i) of the Immigration and Refugee Protection Regulations requires Federal Skilled Worker applicants to hold transferable and available funds, unencumbered by debts or other obligations, equal to one half of the minimum necessary income for their family size. On IRCC's proof of funds page this means you must be able to legally access the money in Canada, it must be available when you apply and when your visa is issued, and you cannot borrow it or use equity in real property.
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 available both when you apply for permanent residence and when IRCC issues your permanent resident visa, and you must be able to legally access the money when you arrive in Canada (IRCC, canada.ca, checked 12 October 2026). IRCC also lists no longer having enough funds as a reason a profile can become ineligible, so keep the money in place while you wait in the pool. The amounts are updated once a year, so check the live table on canada.ca before you apply.
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. 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.
A licensed RCIC replies by email, usually within two business days.
Licensed RCIC Nicola Wightman, CICC licence R706497.Verify on the CICC public register (opens in a new tab)