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Proof of funds for Express Entry
Minimum settlement funds by family size — IRCC table updated July 7, 2025.
Minimum funds required: $15,263 CAD
| Number of family members | Funds you need (CAD) |
|---|---|
| 1 | $15,263 |
| 2 | $19,001 |
| 3 | $23,360 |
| 4 | $28,362 |
| 5 | $32,168 |
| 6 | $36,280 |
| 7 | $40,392 |
| Each additional family member | $4,112 |
Who needs proof of funds
According to IRCC, you need proof of funds for the Federal Skilled Worker Program and the Federal Skilled Trades Program. You don’t need it if you’re applying under the Canadian Experience Class, or if you’re authorized to work in Canada and have a valid job offer.
You must include your spouse or partner and dependent children in your family size even if they are Canadian citizens or permanent residents, or not coming with you. You can’t use equity in property or borrowed money.
What the bank letter must include
- The bank’s contact information (address, telephone number and email address)
- Your name
- Your outstanding debts (such as credit card debts and loans)
- For each account: account number, date opened, current balance and average balance for the past 6 months
Source: IRCC — Express Entry: Proof of funds (checked Oct 19, 2026). IRCC updates the amounts every year.
Proof-of-Funds & Settlement Planner (coming soon) adds currency conversion, a 6-month average tracker and a first-3-months budget.