Keep required funds available, documented, and separate from fees
Proof of funds is evidence that you can support yourself and your family after arrival. It is not the same as paying application fees.
Key points
- Express Entry: FSW and FST — Federal Skilled Worker and Federal Skilled Trades applicants generally need settlement funds unless exempt.
- Exemptions: CEC or valid job offer — Canadian Experience Class applicants and some applicants with a valid job offer and Canadian work authorization do not need settlement funds.
- Study permits: First-year support — Students must show tuition, living expenses, and transportation support, with Quebec using separate CAQ rules.
Who usually needs settlement funds
IRCC uses proof of funds to confirm that an applicant can settle in Canada without immediate public support. The Express Entry settlement-funds table applies most directly to Federal Skilled Worker and Federal Skilled Trades applicants.
- Include yourself, your spouse or common-law partner, your dependent children, and your spouse or partner's dependent children when sizing the family.
- Include family members even if they are Canadian citizens, permanent residents, or not accompanying you.
- Keep the full amount available both when you apply and when a visa is issued.
What evidence must show
IRCC expects official bank or financial-institution letters. The evidence must show legal access to the funds and enough history for an officer to assess whether the money is actually available.
- Letters should identify the financial institution, your name, outstanding debts, account numbers, opening dates, current balances, and average balances for the past six months.
- Borrowed money and real-property equity are not acceptable as settlement funds.
- Joint accounts may count when you can prove access to the money.
- Funds in a spouse's account may count only when you can prove access.
Study permit proof is a different rule
Study permit financial support is not the Express Entry settlement-funds table. A study permit applicant must show enough for tuition, living expenses, and transportation, and must explain funding for the full program if it lasts more than one year.
Express Entry settlement funds
IRCC updated this table on July 7, 2025. Amounts are in Canadian dollars.
| Family members | Funds required | Notes |
|---|---|---|
| 1 | CAD 15,263 | Single applicant. |
| 2 | CAD 19,001 | Applicant plus one family member. |
| 3 | CAD 23,360 | Count accompanying and non-accompanying dependants. |
| 4 | CAD 28,362 | Common family-of-four planning benchmark. |
| 5 | CAD 32,168 | Updated annually by IRCC. |
| 6 | CAD 36,280 | Updated annually by IRCC. |
| 7 | CAD 40,392 | Updated annually by IRCC. |
| Each additional member | CAD 4,112 | Add this amount for each family member above seven. |
Frequently asked questions
Can I borrow money for proof of funds?
No. IRCC says the money cannot be borrowed from another person. You must be able to legally access and use the money for your family's settlement costs.
Can home equity count as proof of funds?
No. Equity in real property is not accepted as proof of settlement funds because it is not immediately available money.
Do Canadian Experience Class applicants need settlement funds?
Canadian Experience Class applicants do not need to show settlement funds. If the system still asks for a document, upload a letter explaining the exemption.
Are study permit proof-of-funds amounts the same as Express Entry settlement funds?
No. Study permit financial support has its own rule set and must cover tuition, living expenses, and transportation. Quebec study permit applicants follow Quebec's financial-capacity rules for the CAQ.
Updated: May 2026