CICC Licence R709592 · MAK Canadian Immigration Services
Last reviewed: August 12, 2026
Proof of Funds for Express Entry in 2026: Amounts, Exemptions and Bank Letter Requirements
Proof of funds is a documentary requirement with a specific minimum amount, specific bank-letter disclosures, and rules about when the money must be available. Applicants should understand the requirement before submitting or updating an Express Entry profile so the family-size calculation, account evidence and exemption position are documented consistently.
This guide gives the current amounts by family size, the two categories of applicant who do not need to show funds, the exact contents IRCC requires in the bank letter, and the availability and timing rules that apply during processing. Check the current IRCC table before you submit because settlement-fund amounts are updated over time.
Federal Skilled Worker Program and Federal Skilled Trades Program candidates generally need proof of settlement funds. Canadian Experience Class candidates do not. IRCC also exempts candidates who are authorized to work in Canada and have a valid job offer. The current table starts at $15,263 for one family member and was last updated by IRCC on July 7, 2025. Borrowed money and equity in real property do not count. Required funds must remain available when you apply and when IRCC issues the permanent resident visa, where applicable.
The current amounts
IRCC’s current Express Entry settlement-funds table was updated on July 7, 2025 and remains the published table as of the August 14, 2026 source check.
| 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 family member | add $4,112 |
Two details in that table are especially important when calculating the required amount.
Family size includes your spouse or common-law partner and your dependent children, and it includes them even if they are not coming to Canada with you, and even if they are Canadian citizens or permanent residents already. This can be counter-intuitive and is a common family-size calculation error. A married applicant with two children who plans to travel alone still counts four.
The amounts are updated periodically. Check the figure on IRCC’s page on the day you submit, not the day you started preparing. A number you screenshotted eight months ago is not evidence of anything.
Who does not need to show funds
There are two exemptions and they are narrower than the internet suggests.
First, candidates applying under the Canadian Experience Class do not need to show settlement funds. This is an express IRCC exemption. Our guide on moving from a work permit to permanent residence explains how Canadian work experience fits into permanent residence planning.
Second, candidates who have a valid job offer and are authorised to work in Canada do not need to show funds. Note that both limbs are required. A job offer on its own, held by a person outside Canada with no work authorisation, does not trigger the exemption.
Federal Skilled Worker Program and Federal Skilled Trades Program candidates generally need proof of funds. The separate IRCC exemption still applies when a candidate is authorized to work in Canada and has a valid job offer, even when the application is under the Federal Skilled Worker Program or Federal Skilled Trades Program.
A practical note for planning: becoming eligible under the Canadian Experience Class can change the proof-of-funds requirement, but CEC eligibility by itself does not guarantee an invitation or approval. Profile timing should be based on the full Express Entry eligibility and CRS picture, not the settlement-funds rule alone.
What IRCC actually requires in the bank letter
IRCC requires official letters from each bank or financial institution where you hold an account. The letters must be printed on the institution’s letterhead and include:
- The institution’s contact information, meaning address, telephone number and email address.
- Your name.
- Any outstanding debts, such as credit card balances and loans.
- For each current bank and investment account: the account number, the date the account was opened, the current balance, and the average balance for the past six months.
A standard balance letter may not contain every item IRCC requires. In particular, the official instructions require outstanding debts and the average balance for the past six months, in addition to the account number, opening date and current balance. Compare the bank’s draft against the IRCC checklist before relying on it.
Give your bank the required list in writing and review the completed letter against the current IRCC instructions before submitting it.
What does not count as funds
Three exclusions can make claimed settlement funds unacceptable for this requirement.
Borrowed money does not count. IRCC also requires the bank letter to show the average balance for the past six months. Significant recent deposits should therefore be documented clearly so the record shows the source of the money and that the funds are legally available to you.
Equity in real property does not count. You may own a house outright and it contributes nothing to this requirement. If property is your wealth, you need a liquidation plan and a timeline, not an appraisal.
Money you cannot actually access does not count. The funds must be readily available. Money tied up in a business, in a fixed deposit you cannot break, in a pension you cannot draw, or in an account someone else controls, is not available to you in the sense this requirement means.
Where your spouse is accompanying you, IRCC says you can count money held together in a joint account. Money held only in your spouse’s name may also be counted where you can prove that you have access to it.
The timing rule people miss
The requirement is not a one-day balance snapshot. IRCC says the funds must be available both when you apply and when it issues the permanent resident visa, where applicable, so falling below the required amount during processing can create an eligibility problem.
There is a second consequence that is easy to miss. If your family size changes between application and decision, for example through a marriage or a birth, your required amount changes with it. Update your file and your funds together.
A conservative approach is to keep the required settlement funds readily available through processing and retain clear records for transfers or significant deposits. If your family size or exemption position changes, recheck the required amount and update the application where required. For the wider process, see our guide on how the Express Entry system works.
A consultation can help review your family-size calculation, account structure, exemption status and supporting documents before you submit.
Frequently asked questions
How much money do I need for Express Entry in 2026?
IRCC’s table updated July 7, 2025 starts at $15,263 for one person, $19,001 for two, $23,360 for three, and $28,362 for four, with $4,112 added for each family member beyond seven. Confirm the current figure on IRCC’s page on the day you submit.
Do I need proof of funds if I am already working in Canada?
Working in Canada does not automatically decide the issue. Canadian Experience Class candidates do not need to show settlement funds. Federal Skilled Worker Program and Federal Skilled Trades Program candidates are also exempt when they are authorized to work in Canada and have a valid job offer. Otherwise, the applicable proof-of-funds requirement remains.
Does my spouse count if they are not coming with me?
Yes. Family size includes your spouse or common-law partner and dependent children whether or not they are accompanying you, and whether or not they are already Canadian citizens or permanent residents.
Can I borrow the money from a relative?
No. IRCC says settlement funds cannot be borrowed from another person. The bank letter must also show the average balance for the past six months.
Does my house count towards proof of funds?
No. Equity in real property is not accepted. The funds must be readily available to you.
What has to be in the bank letter?
It must be on the institution’s letterhead and include the institution’s address, telephone number and email address, your name, any outstanding debts including credit cards and loans, and for each account the account number, date opened, current balance and average balance over the past six months.
What if my funds drop after I apply?
IRCC requires the funds to be available when you apply and when it issues the permanent resident visa, where applicable. Falling below the required amount during processing can therefore affect eligibility.
Official sources reviewed
- IRCC, Proof of funds for Express Entry. canada.ca
- IRCC, Immigrate through Express Entry: Documents. canada.ca
- IRCC, Express Entry: Job offer. canada.ca
Official sources last checked: August 14, 2026. RCIC review date above remains August 12, 2026.
This article is general information about Canadian immigration law and policy. It is not legal advice and it does not create a consultant and client relationship. Immigration rules change without notice. Confirm your own situation with a Regulated Canadian Immigration Consultant or a lawyer before you act.
