Express Entry Proof of Funds 2026: How Much You Need and Who Is Exempt

If you apply for Express Entry through the Federal Skilled Worker or Federal Skilled Trades program, you must usually prove you have enough money to settle in Canada. As of October 2026, the minimum is $15,263 CAD for one person and $28,362 for a family of four. Canadian Experience Class applicants are exempt. So is anyone authorized to work in Canada who has a valid job offer. The figures below come from IRCC’s proof of funds page.

Key points

• The current table took effect July 7, 2025. As of October 11, 2026, it is still the one shown on canada.ca (page dated June 22, 2026).
• IRCC updates the amounts every year, based on 50% of Canada’s low-income cut-off, so check the page before you submit.
• Family size counts your spouse and all dependent children, even if they are not coming with you.
• Bank letters must show your current balance and your average balance over the past 6 months.
• Home equity and borrowed money do not count.

How much you need (as of October 2026)

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
Each additional member	$4,112

Source: IRCC, amounts updated July 7, 2025.

These are minimums. If you have more, IRCC suggests declaring the full amount in your profile and application.

Watch for the annual update

When IRCC changes the table, candidates already in the pool must update their profile to stay eligible. In 2025, IRCC gave candidates until July 28 to update their profiles after the July 7 change. If the amounts change while you are in the pool and your declared funds fall below the new minimum, you can lose eligibility until you update. We will log any new table on /updates/.

Who needs to show proof of funds

Program	Proof of funds required?
Federal Skilled Worker Program	Yes, unless authorized to work in Canada with a valid job offer
Federal Skilled Trades Program	Yes, unless authorized to work in Canada with a valid job offer
Canadian Experience Class	No

If you qualify for CEC and FSW at the same time, the invitation decides. If you are invited under CEC, you do not need to show funds. If you are invited under FSW, you do. Check which program your invitation names.

Exempt applicants still have to upload a short letter explaining which exemption applies. The checklist slot will not be empty.

How to count your family size

Include:

• yourself
• your spouse or common-law partner
• your dependent children
• your spouse’s or partner’s dependent children

Count them even if they are Canadian citizens or permanent residents, or are not coming to Canada with you. This is one of the most common mistakes. A married applicant whose spouse is staying behind is still a family of two for this purpose.

What counts as acceptable funds

Acceptable:

• money in bank accounts (chequing, savings)
• money in investment accounts, which must be listed in your financial institution’s letter
• a joint account with your spouse, if your spouse is coming with you
• an account in your spouse’s name only, if you can prove you have access to it

Not acceptable:

• equity in real estate (your house or land)
• money borrowed from another person

The funds must be available to you, and you must be able to legally take them to Canada, when you arrive.

What your bank letters must include

You need an official letter from each bank or financial institution where you hold money. Each letter must:

1. Be printed on the institution’s letterhead.
2. Include the institution’s address, phone number and email address.
3. Include your name.
4. List your outstanding debts, such as credit cards and loans.
5. For each current account and investment: give the account number, date opened, current balance, and average balance over the past 6 months.

Because the letter shows a six-month average, a large deposit made just before you apply will stand out, and an officer may ask where it came from. If you received a large sum recently, such as from a property sale, gift or inheritance, keep documents that show where it came from. Note that IRCC’s page does not list gifts among acceptable or unacceptable funds. Borrowed money is explicitly excluded. Ask a licensed professional if you are unsure how a particular transfer will be viewed.

When the money must be available

According to IRCC, you must have the funds:

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

Do not spend the funds on travel or relocation before your visa is issued.

Profile stage vs application stage

Proof of funds comes up twice:

1. In your Express Entry profile, you declare how much money you have available. If you need to show funds and declare less than the minimum for your family size, you will not be found eligible for FSW or FST.
2. In your PR application, after you are invited, you upload the bank letters that prove the amount. The figures should match what you declared, or at least meet the minimum.

Your funds do not affect your CRS score. Having more money than the minimum will not help your ranking. It only needs to meet the threshold.

How this differs from other “proof of funds” rules

Canada uses different money rules for different applications. Do not mix them up:

• Study permits have their own living-cost requirement, which went up on September 1, 2026. See study permit proof of funds.
• Express Entry settlement funds (this page) apply only to FSW and FST applicants who are not exempt.
• Provincial streams may set their own funds requirements, separate from IRCC’s.

Always use the table for the specific application you are filing.

Common mistakes

• Declaring a smaller family than you have, for example by leaving out a non-accompanying spouse or child.
• Sending only account statements. IRCC asks for an official letter from each institution that includes every required detail.
• Forgetting debts. The letter must list outstanding debts.
• Relying on property value. Home equity does not count, however large.
• Letting the balance drop between your application and visa issue.

If your situation changes while you wait

Update your Express Entry profile if any of these change:

• Your family size, for example through marriage, a new common-law partner or the birth of a child. The minimum goes up with each added family member.
• Your available funds, especially if your balance falls toward the minimum.
• Your exemption status, for example if you get Canadian work authorization and a valid job offer, or start qualifying for CEC.

If your profile no longer matches your real situation when you are invited, you may not be able to prove what you declared. Your application could then be refused.

Example

This is a hypothetical case. A Federal Skilled Worker candidate is married, has one child, and plans to move alone first. Their family size is three, so they need at least $23,360 under the current table, not $15,263. If they are later invited under CEC instead (after gaining Canadian work experience), they would not need to show funds at all.

What to do next

1. Count your family size correctly and check the current table on canada.ca.
2. Ask each bank for a letter with every required detail. Allow time, because some banks take weeks.
3. Keep your balance above the minimum until your visa is issued.
4. Read the full Express Entry guide. If you are in Canada, check whether the Canadian Experience Class exempts you.
5. See Canada immigration fees 2026 to budget for government fees on top of settlement funds, and browse the Canada hub.