Express Entry Proof of Funds: How Much Money Do You Need?

What Is Express Entry Proof of Funds?

Proof of funds is evidence that you have enough money available to support yourself and your family when settling in Canada. For candidates who are required to meet the settlement-funds requirement, it forms part of the minimum eligibility requirements rather than simply being an additional document requested after an Invitation to Apply.

The requirement applies within Express Entry according to the immigration program under which the candidate is assessed. It is therefore important to distinguish proof of funds from the Comprehensive Ranking System. Having more money than the required minimum does not increase your CRS score.

Who Needs Proof of Funds for Express Entry?

IRCC requires proof of settlement funds to meet the minimum requirements of two Express Entry programs:

• the Federal Skilled Worker Program (FSWP); and
• the Federal Skilled Trades Program (FSTP).

If you are being assessed under one of these programs, you should not assume that living or working in Canada automatically removes the funds requirement. The exemption has specific conditions discussed below.

You can review the separate Maplevisa guides to the Federal Skilled Worker Program and Federal Skilled Trades Program for their other eligibility requirements.

Who Does Not Need to Show Settlement Funds?

Under IRCC's current Express Entry rules, you do not need to show that you have sufficient settlement funds if:

• you are applying under the Canadian Experience Class; or
• you are authorized to work in Canada and have a valid job offer, even if you are applying under the Federal Skilled Worker Program or Federal Skilled Trades Program.

These are important distinctions. Merely having a job, a work permit or an offer letter does not necessarily establish the second exemption. Both authorization to work in Canada and a job offer that meets the applicable Express Entry definition must be considered.

How Much Money Do You Need for Express Entry?

IRCC bases the minimum settlement-fund requirement on family size. The amounts are updated annually based on 50% of the low-income cut-off totals.

The current table published by IRCC lists the following minimum amounts:

These figures are the minimum amounts in IRCC's currently published Express Entry table. If you have more money available, IRCC instructs applicants to list the full amount in the profile or application.

How Do You Calculate Family Size?

The settlement-funds calculation is not limited to the people who will physically accompany you to Canada. IRCC requires you to include:

• yourself;
• your spouse or common-law partner;
• your dependent children; and
• your spouse or common-law partner's dependent children.

Your spouse or common-law partner and dependent children must be counted even if they are not accompanying you to Canada.

IRCC also states that they must be included in the family-size calculation even if they are Canadian citizens or permanent residents.

Example: non-accompanying spouse

A principal applicant has a spouse who will remain outside Canada and no children. For settlement-fund purposes, the family size is still two, not one.

Example: spouse and two children

A principal applicant, spouse and two dependent children constitute a family of four for the funds calculation, including where one or more family members will not accompany the principal applicant.

What Money Can Be Used as Express Entry Settlement Funds?

The central requirement is that the money must be genuinely available to you. IRCC requires applicants to prove that they can legally access the funds when they arrive in Canada.

Funds held in banking and investment accounts can be documented through the official financial-institution letters required by IRCC, provided the funds are accessible and otherwise meet the settlement-funds requirements.

Money that cannot be relied on

IRCC specifically states that:

• equity in real property cannot be used as proof of settlement funds; and
• the required money cannot be borrowed from another person.

This means that owning a house with substantial equity does not by itself satisfy the requirement. Likewise, temporarily borrowing money to create a qualifying bank balance is inconsistent with the requirement that the settlement funds be genuinely available to the applicant.

What Must an Express Entry Bank Letter Include?

IRCC requires official letters from the banks or financial institutions where you hold accounts used for proof of funds.

The letter must be printed on the financial institution's letterhead and include:

• the bank or financial institution's contact information, including its address, telephone number and email address;
• your name;
• your outstanding debts, such as credit card debts and loans; and
• required information for each current banking and investment account.

For each current account, IRCC requires:

• the account number;
• the date the account was opened;
• the current balance; and
• the average balance for the previous six months.

A simple current-balance certificate that omits the six-month average or other required information is therefore not the same as the complete financial institution letter described by IRCC.

Can You Use a Joint Account or Your Spouse's Money?

Yes, in some circumstances.

IRCC states that if your spouse is accompanying you, money held together in a joint account can be counted toward the settlement-funds requirement.

Money held in an account solely in your spouse's name may also be countable, but you must establish that you have access to those funds.

What If Your Account Has a Large Recent Deposit?

IRCC's required bank letter includes the average balance for the previous six months. As a practical consequence, a large recent increase in the balance may be visible when the current balance is compared with the six-month average.

A recent deposit is not automatically disqualifying. The important questions are whether the money belongs to you, whether you can legally access it, and whether it is borrowed or subject to an obligation that makes it unavailable for settlement.

Where a significant recent deposit has a legitimate source, such as the documented sale of an asset, employment income or another traceable transaction, retaining evidence of the source can help explain the movement of funds if clarification is required.

When Must the Settlement Funds Be Available?

Settlement funds are not required only on the day a bank letter is issued.

IRCC states that the required funds must be available to you both:

• when you apply; and
• when IRCC issues your permanent resident visa, if the application is approved.

Candidates who are subject to the requirement should therefore avoid treating the minimum balance as a temporary documentary threshold. Eligibility can be affected if the available amount later falls below the applicable minimum.

Because IRCC updates the required amounts annually, a candidate may also need to increase the funds declared in an existing Express Entry profile when a new table takes effect.

How Do Settlement Funds Affect Your Express Entry Profile?

When required, the amount declared in the Express Entry profile should be sufficient for the applicable family size and should remain accurate.

IRCC advises candidates to keep their proof-of-funds information up to date. This is particularly important because the Express Entry system can determine that a candidate is eligible for more than one immigration program, and the candidate may not know in advance which program will ultimately apply to an invitation.

Updating the settlement-funds amount in an Express Entry profile does not itself change the date and time the profile was originally received for tie-breaking purposes.

For a broader explanation of entering and remaining in the pool, see How Does Express Entry Work?

What Happens to Proof of Funds After You Receive an ITA?

If you are invited to apply and the settlement-funds requirement applies to you, IRCC requires written evidence showing that you have the required money.

The evidence should correspond with the information declared in your profile and permanent residence application and satisfy IRCC's documentary requirements.

Receiving an Invitation to Apply does not freeze the factual circumstances on which eligibility depends. Applicants remain responsible for demonstrating that they meet the applicable requirements when submitting the electronic application for permanent residence.

If your family composition changes—for example, through marriage or the birth of a child—the required amount may also change because settlement funds are calculated by family size.

When Does a Job Offer Remove the Proof-of-Funds Requirement?

For FSWP and FSTP applicants, IRCC provides an exemption where the applicant is both authorized to work in Canada and has a valid job offer.

The term valid job offer has specific immigration requirements. It should not be assumed that every written employment offer or existing job satisfies the Express Entry definition.

This distinction has become especially important because, since March 25, 2025, Express Entry no longer awards CRS points for job offers. Removing job-offer CRS points did not eliminate situations in which a valid job offer remains relevant to program eligibility or the proof-of-funds exemption.

Common Express Entry Proof-of-Funds Mistakes

Counting only accompanying family members

A non-accompanying spouse or dependent child may still have to be included when calculating family size.

Using property value as settlement funds

IRCC expressly states that equity in real property cannot be used as proof of settlement funds.

Borrowing money to meet the minimum

The required funds cannot be borrowed from another person. They must be genuinely available for your family's settlement.

Submitting an incomplete bank letter

A document showing only the current balance may omit information IRCC specifically requests, including the account opening date, outstanding debts and average balance for the previous six months.

Assuming a work permit alone creates an exemption

For the FSWP/FSTP exemption described by IRCC, being authorized to work in Canada must be accompanied by a valid job offer.

Forgetting annual changes to the required amount

IRCC updates the settlement-fund thresholds annually. Candidates who remain in the pool should monitor the current requirement and update their profiles when necessary.

Express Entry Proof of Funds FAQs

Does Canadian Experience Class require proof of funds?

No. IRCC states that applicants applying under the Canadian Experience Class do not need to show settlement funds.

How much money does one person need for Express Entry?

The currently published IRCC Express Entry table requires $15,263 for a family size of one where the settlement-funds requirement applies.

How much does a family of two need?

The currently published minimum is $19,001 for a family size of two.

How much does a family of four need?

The currently published minimum is $28,362 for a family size of four.

Do I count my spouse if they are not coming to Canada?

Yes. IRCC requires a spouse or common-law partner to be included when calculating family size even if they are not accompanying you.

Do I count a spouse who is already a Canadian citizen or permanent resident?

Yes. IRCC states that spouses, common-law partners and dependent children must be included in the family-size calculation even if they are Canadian citizens or permanent residents.

Can I use the value of my house as proof of funds?

No. IRCC specifically states that equity in real property cannot be used as settlement funds.

Can settlement funds be borrowed?

No. IRCC states that you cannot borrow the required settlement funds from another person.

Can I use a joint account with my spouse?

Yes. If your spouse is accompanying you, IRCC permits money held together in a joint account to be counted.

Can I use an account only in my spouse's name?

It may be possible, but you must demonstrate that you have access to the money.

Does my bank letter need a six-month balance history?

IRCC requires the official bank letter to state the average balance for the previous six months for each current banking and investment account. The letter must also include the current balance and other specified account information.

Does having more settlement money increase my CRS score?

No. Settlement funds and CRS ranking are separate. Showing funds above the required minimum does not add CRS points.

Does a job offer give CRS points in 2026?

No. IRCC removed CRS points for job offers on March 25, 2025. A valid job offer can nevertheless remain relevant to certain Express Entry eligibility requirements, including the settlement-funds exemption for qualifying FSWP and FSTP applicants.