How much proof of funds is needed for Express Entry?
Proof of funds for Express Entry starts at $15,263 for a single applicant and rises with family size to $40,392 for seven people, with $4,112 added for each family member after that. These are the minimum settlement funds Canada requires, through Immigration, Refugees and Citizenship Canada (IRCC), from permanent residence (PR) applicants invited under the Federal Skilled Worker Program or the Federal Skilled Trades Program.
How to read this table: find the row for the family size as IRCC counts it (see below), not the number of people who will travel. Beyond seven family members, each additional person adds a fixed amount to the last row.
| Number of family members | Funds required |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
Source: Express Entry: Proof of funds - Canada.ca; Express Entry: Proof of funds - Canada.ca (update rule). In effect from July 7, 2025; checked October 11, 2026.
IRCC describes the table as the minimum. Its page adds that an applicant with more money lists the full amount in the profile or application. The numbers are updated every year and are based on 50% of the low income cut-off totals, so the table above is replaced whenever IRCC publishes a new one. The table shown here is the one IRCC headed “Updated July 7, 2025”; it was still the table on IRCC’s page when this page was last checked, with no later update published, so it is the proof of funds Canada applies to Express Entry applications until a new table appears. The settlement funds checker at the top of this page reads the same verified table.
Who needs proof of funds for Express Entry, and who is exempt?
Proof of funds is needed to meet the minimum requirements of the Federal Skilled Worker Program and the Federal Skilled Trades Program. It is not needed by anyone applying under the Canadian Experience Class, or by a candidate who is authorized to work in Canada and has a valid job offer. That second exemption has two parts, and IRCC joins them with “and”.
| Program | Valid job offer | Authorized to work in Canada | Proof of funds needed? |
|---|---|---|---|
| Federal Skilled Worker Program | No | No | Yes |
| Federal Skilled Worker Program | Yes | No | Yes |
| Federal Skilled Worker Program | No | Yes | Yes |
| Federal Skilled Worker Program | Yes | Yes | No |
| Federal Skilled Trades Program | No | No | Yes |
| Federal Skilled Trades Program | Yes | No | Yes |
| Federal Skilled Trades Program | No | Yes | Yes |
| Federal Skilled Trades Program | Yes | Yes | No |
| Canadian Experience Class | Any | Any | No |
Two details catch people out. First, IRCC’s job offer page states that a work permit on its own is not a job offer, even if it is an open work permit. Holding a permit covers the “authorized to work” half only. Second, “valid” has a program-specific meaning: the offer has to be in writing, full-time, for at least one year after permanent residence, and in most cases supported by a Labour Market Impact Assessment or an exemption from one.
Exempt applicants are not finished with the document slot. IRCC says the system currently asks all applicants for a proof of funds document, so an exempt applicant uploads a letter explaining either the Canadian Experience Class invitation or the valid job offer and work authorization. The Canadian Experience Class requirements page covers that program’s work experience and language rules.
IRCC also asks candidates to keep the funds figure in the profile up to date, because the system may find a profile eligible for more than one program and the candidate does not always know in advance which one the invitation will use. A candidate with Canadian work experience who also meets the Federal Skilled Worker Program requirements is in that position, and an invitation under that program brings the full requirement back.
How does IRCC count family size for proof of funds?
IRCC counts the applicant, the spouse or common-law partner, the applicant’s dependent children and the partner’s dependent children. The spouse or partner and dependent children are included even if they are Canadian citizens or permanent residents, and even if they are not coming to Canada.
This is the most common reason a self-check comes out too low. A married applicant with two children who plans to land alone first is a family of four for this table, not a family of one. The calculator asks about a spouse or partner and dependent children separately so that the count follows IRCC’s definition instead of the travel plan.
How do you use this settlement funds checker?
- Choose the Express Entry program. Pick the program the invitation to apply is under, or is expected to be under.
- Set the two job offer switches. For the Federal Skilled Worker and Federal Skilled Trades programs, turn on “valid job offer” and “authorized to work in Canada” only if each is true. They are hidden for the Canadian Experience Class because they do not change that result.
- Count the family. Answer the spouse or partner question and enter the number of dependent children, including anyone who is staying behind.
- Enter the funds available in Canadian dollars. Use the total that the bank letters will show across all accounts.
- Open “Money that does not count” if it applies. Enter any part of the total that is borrowed or is equity on real property; it is subtracted.
The result shows the amount required, the shortfall or surplus, whether proof is required at all, the same comparison for every family size, and the bank letter checklist.
What does a worked example look like?
Three hypothetical applicants show the three possible outcomes. Each row was produced by running the calculator with the inputs shown.
| Applicant | Family size | Funds required | Funds available | Result |
|---|---|---|---|---|
| Federal Skilled Worker, single, no job offer | 1 | $15,263 | $18,000 | $2,737 surplus |
| Federal Skilled Worker, spouse and two children, no job offer | 4 | $28,362 | $26,000 | $2,362 shortfall |
| Canadian Experience Class, spouse and one child | 3 | none | $9,000 | Exempt; uploads an explanation letter |
The second applicant is the instructive one. If the spouse and children were left out of the count because they are joining later, the same $26,000 would look like a $10,737 surplus against the one-person row. Counted correctly, it is a shortfall.
The third applicant needs no settlement funds under the Canadian Experience Class. If the same profile were invited under the Federal Skilled Worker Program instead, a family of three would need $23,360, and $9,000 would be $14,360 short. The calculator flags that comparison for every Canadian Experience Class result.
What must an IRCC proof of funds letter include?
An IRCC proof of funds letter is an official letter from each bank or financial institution where the applicant has an account, printed on letterhead, with the account details below. Every row comes from IRCC’s page.
How to read this table: one letter is needed from every institution where an account is held, and each letter covers every current banking and investment account there.
| The letter shows | Detail |
|---|---|
| Official letter from every bank or financial institution where an account is held | One letter per institution, not a single summary |
| Printed on the financial institution's letterhead | A plain statement or screenshot is not what the page describes |
| The institution's contact information | Address, telephone number and email address |
| The applicant's name | As the account holder |
| Outstanding debts | Such as credit card debts and loans |
| Account numbers | For each current banking and investment account |
| Date each account was opened | For each current banking and investment account |
| Current account balances | For each current banking and investment account |
| Average balance for the past 6 months | For each current banking and investment account |
Source: Express Entry: Proof of funds - Canada.ca (who needs it); Express Entry: Proof of funds - Canada.ca (letter for exempt applicants); Express Entry: Proof of funds - Canada.ca (family size); Express Entry: Proof of funds - Canada.ca (bank letter); Express Entry: Proof of funds - Canada.ca (legal access); Express Entry: Proof of funds - Canada.ca (annual update rule); Express Entry: Job offer - Canada.ca. In effect from July 7, 2025; checked October 11, 2026.
Timing matters as much as content. The funds must be available both when the application is submitted and when IRCC issues the permanent resident visa, so a balance that dips below the table amount in between is a risk. The six-month average on the letter shows the officer how stable the balance has been.
Which money does not count as proof of funds?
Money that the applicant cannot legally access on arrival does not count. IRCC gives two examples, and separate guidance for accounts shared with or held by a spouse.
How to read this table: these are the two examples on IRCC's page of money an applicant cannot rely on.
| Type of money | IRCC rule |
|---|---|
| Equity on real property | Cannot be used as proof of settlement funds |
| Money borrowed from another person | Cannot be used as proof of settlement funds |
Source: Express Entry: Proof of funds - Canada.ca (who needs it); Express Entry: Proof of funds - Canada.ca (letter for exempt applicants); Express Entry: Proof of funds - Canada.ca (family size); Express Entry: Proof of funds - Canada.ca (bank letter); Express Entry: Proof of funds - Canada.ca (legal access); Express Entry: Proof of funds - Canada.ca (annual update rule); Express Entry: Job offer - Canada.ca. In effect from July 7, 2025; checked October 11, 2026.
How to read this table: the spouse is counted in the family size either way.
| Account | IRCC rule |
|---|---|
| Joint account with a spouse who is coming to Canada | Money held together in a joint account can be counted |
| Account in the spouse's name only | May be counted, but the applicant must prove access to the money |
Source: Express Entry: Proof of funds - Canada.ca (who needs it); Express Entry: Proof of funds - Canada.ca (letter for exempt applicants); Express Entry: Proof of funds - Canada.ca (family size); Express Entry: Proof of funds - Canada.ca (bank letter); Express Entry: Proof of funds - Canada.ca (legal access); Express Entry: Proof of funds - Canada.ca (annual update rule); Express Entry: Job offer - Canada.ca. In effect from July 7, 2025; checked October 11, 2026.
The money also has to be usable for the family’s living costs, even for family members who are not coming. In the calculator, the optional field under “Money that does not count” subtracts borrowed money and home equity before the comparison is made.
How much does each extra family member add?
Each extra family member adds between $3,738 and $5,002 to the requirement, depending on the row. IRCC publishes the totals; the steps between them are worked out below.
| Change in family size | Extra funds required |
|---|---|
| 1 to 2 | $3,738 |
| 2 to 3 | $4,359 |
| 3 to 4 | $5,002 |
| 4 to 5 | $3,806 |
| 5 to 6 | $4,112 |
| 6 to 7 | $4,112 |
| Each person beyond 7 | $4,112 |
The step matters for anyone close to the line. A marriage or a birth between the profile and the visa changes the family size, and the calculator warns when the surplus is smaller than the next step. For a larger household, a family of nine needs $48,616.
How the maths works
The calculation follows IRCC’s page in order.
- Is proof needed? Canadian Experience Class: no. Federal Skilled Worker or Federal Skilled Trades with both a valid job offer and authorization to work in Canada: no. Every other case: yes.
- Family size. One for the applicant, plus one for a spouse or common-law partner, plus the number of dependent children.
- Required amount. The row of IRCC’s table for that family size. Above seven, the seven-person amount plus the per-person amount for each additional family member.
- Countable funds. Funds entered minus any borrowed money or equity on real property, in whole dollars. Cents on the funds are dropped, so a balance a few cents under a row counts as under it.
- Result. Countable funds minus the required amount: positive is a surplus, negative is a shortfall.
When proof is not needed, the required amount shows as zero and the comparison against the table is kept for reference, because an invitation under a different program would bring the requirement back.
Do study permits and provincial nominee programs use the same amounts?
No: the table on this page is the Express Entry table only. Study permits have a separate cost-of-living requirement set by IRCC, which this page does not cover. Provincial nominee programs set their own rules stream by stream; some use the federal Express Entry amounts and others publish their own, as the provincial nominee program comparison explains. Those programs are outside the scope of this calculator; the Express Entry guide and the Federal Skilled Worker Program page cover the federal route this table belongs to.
Settlement funds are also not a fee. They stay in the applicant’s own accounts, while government processing fees are paid to IRCC and listed on the Canada PR fees page. Before any of this applies, a candidate has to be invited, and the CRS score calculator estimates the ranking score that decides invitations.
Common mistakes with Express Entry proof of funds
- Counting only the people who are travelling. A spouse, partner or dependent child is counted even when staying abroad or already a Canadian citizen or permanent resident.
- Treating a job offer or a work permit alone as an exemption. The exemption needs a valid job offer and authorization to work in Canada together.
- Submitting statements instead of letters. IRCC’s page asks for official letters on letterhead with opening dates and six-month average balances.
- Including borrowed money or home equity. Neither can be used as proof of settlement funds.
- Meeting the amount once. The funds have to be there at application and again when the visa is issued.
- Uploading nothing when exempt. The system asks every applicant for a document, so an explanation letter goes in its place.
- Relying on an old table. IRCC updates the amounts every year, and candidates in the pool update their profile to stay eligible.
When to talk to a professional
A regulated Canadian immigration consultant or an immigration lawyer is worth consulting when funds come from a gift or the sale of property, when money sits in a spouse’s sole account, when a job offer’s validity is uncertain, when family size may change before landing, or when funds are held in several countries and currencies. This calculator is an educational estimate, not immigration advice, and IRCC’s proof of funds page governs if anything differs.
After landing, the same money usually moves into a Canadian chequing or savings account. The comparison of bank accounts for newcomers to Canada covers newcomer packages, and the cost of living in Canada guide helps judge how long the minimum amount is likely to last in practice.