Express Entry proof of funds: five steps to get it right

Express Entry proof of funds: getting it right starts with two checks: whether your program requires settlement funds, and whether the money you declare is accessible, documented and sufficient for your whole family. It trips up many applicants, usually for one of three reasons: they count their family wrong, they rely on money that does not qualify, or their bank letter leaves out what IRCC asks for. If you plan to settle in Québec, first confirm that a federal Express Entry pathway matches your intention to live outside the province. Based on IRCC’s page, checked on October 17, 2026.

Key takeaways

Question	Practical answer
Does every applicant need proof of funds?	No. It applies to the Federal Skilled Worker and Federal Skilled Trades programs; Canadian Experience Class candidates and people authorized to work in Canada with a valid job offer are exempt.
Who counts in family size?	You, your spouse or partner, your dependent children and your spouse’s dependent children, even if they are not coming.
What should a bank letter show?	Each account’s number, opening date, current balance and 6-month average balance, plus your debts.
Can I use borrowed money or property equity?	No.
Where do I find the amount?	IRCC’s current table, for your family size. It is updated, so check it again whenever you create or update your profile.

First decide whether proof of funds applies to your program

Proof of funds is evidence of money available to support you and your family after arriving in Canada. It applies to the Federal Skilled Worker Program and the Federal Skilled Trades Program. You do not need it if you are invited under the Canadian Experience Class, or if you are authorized to work in Canada and have a valid job offer. Even then, the system asks everyone for a proof of funds document, so you upload a letter explaining which exemption applies. See IRCC’s proof of funds page.

Identify your Express Entry program before gathering bank records. Our Express Entry page explains the federal programs, and our guide to permanent residence pathways puts them in context.

Count your family correctly and check the current threshold

Your family size includes you, your spouse or common-law partner, your dependent children and your spouse’s dependent children, even if they are not coming with you. A single applicant whose spouse stays behind is a family of two. Use one consistent family-size figure in your profile and documents.

The table on IRCC’s page is marked “Updated July 7, 2025”:

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

These are minimums; IRCC asks you to enter the full amount you have. Because IRCC updates the table, record the family size, the amount shown and the date you checked it, and check again when you create or update your profile. If your money is in another currency, keep a margin above the minimum for exchange-rate movements and fees.

A worked example

Youssef applies under the Federal Skilled Worker Program. He is married with one child; his wife and son will come with him. His family size is three, so the table gives $23,360. He has savings in two banks: one in Casablanca, in dirhams, and one in Canada, opened during an earlier visit. He asks each bank for an official letter, converts the dirham balance using one exchange-rate source and one date, and writes a one-page summary: each account, its currency, its current balance, its 6-month average, the Canadian-dollar equivalent and the date of conversion. His total is about $27,000, which leaves a margin if the dirham weakens before his application is decided.

Change one fact: his wife and son stay in Morocco for now. The family size doesn’t change. They are still counted, and the amount is still $23,360.

The margin is a planning safeguard, not a substitute for using the right threshold: if your total sits just above the minimum, a small currency move or bank fee can put it below.

Build a bank letter that answers the officer’s questions

You need an official letter from every bank or financial institution where you hold an account, on its letterhead, showing:

• the institution’s contact information and your name;
• your outstanding debts, such as credit cards and loans;
• for each current bank and investment account: the account number, the date it was opened, the current balance and the average balance over the past 6 months.

Ask for the letters well before you submit, review them, and request corrections while there is time. If an institution cannot provide one detail, don’t leave a silent gap: get a separate letter or official statement that supplies it, with a short note explaining how the documents fit together.

A clear document set usually includes the bank letters, statements covering the account history, and a funds summary that matches the amount in your application, with consistent names, currencies, account numbers and balances.

Show that the money is yours, available and transferable

• You must be able to access it legally when you arrive in Canada.
• Borrowed money does not count.
• Equity in real estate does not count.

If you hold investments, don’t rely only on a portfolio valuation: explain how the assets can be converted into cash and when. Where practical, complete a sale or redemption early and keep the confirmation and the statement showing the proceeds, so the evidence follows the money into the account you declare. Read the redemption terms before counting a locked investment or term deposit.

If your funds are spread across accounts or institutions, total them in a summary that identifies each account and its currency. For foreign currencies, list the original amount, the conversion method and the date used, and keep a record of the conversion.

Document joint accounts, spouse-only accounts and large deposits

A joint account with your spouse counts if your spouse is coming with you; an account in your spouse’s name alone can count if you prove you have access to it. Make sure the names match the family information in your application.

The six-month average is why a large deposit right before you apply raises questions rather than solving them. Match a recent large deposit to its source: a pay statement, sale documents, a transfer record. IRCC’s page does not address gifts; it says the money cannot be borrowed and must be legally available to you, so a documented gift is something to review case by case, showing who gave it, when, and that no repayment is expected.

Compare the bank letter’s average balance with the statements and your declared total. If the balance rose, fell or moved between accounts, explain the timing and trace the movement rather than presenting each balance as unrelated money.

Keep funds available while your application is processed

Keep the funds in accounts you can access, and avoid spending or transferring them in ways that would bring the available total below the threshold. Recheck the total before submission and whenever you update your records, so the file tells one consistent financial story. If a major change happens, update your records and be ready to explain it.

Funds are an eligibility condition, not only a document. A large purchase, a move of money between family members or a currency drop can bring your balance below the amount for your family size before your application is decided. Plan expenses such as the move itself or a down payment with that in mind, and if your funds change, read IRCC’s instructions on updating your profile or application before doing anything else.

Common mistakes

• Leaving out a spouse or child who isn’t coming, and using too small a family size.
• Counting borrowed money or the value of a house or apartment.
• A bank letter without the 6-month average or without your debts.
• A large unexplained deposit shortly before applying.
• Using an old table saved months ago instead of IRCC’s current page.
• Uploading nothing when you are exempt, instead of a letter explaining the exemption.
• Different figures in the profile, the bank letters and the summary.

Planning to live in Québec? Check the immigration route first

Express Entry programs require that you plan to live outside Québec. Living in Québec now does not by itself answer the question; your intention after permanent residence matters. If you want to stay, Québec’s own programs and rules apply instead: see our PSTQ and PEQ pages, and our comparison of Express Entry and Québec selection.

Frequently asked questions

Can I use a gift from family as proof of funds?

IRCC’s page does not address gifts. It says the money cannot be borrowed and must be legally available to you. A documented gift is something to review case by case before you rely on it.

I have a job offer. Do I still upload something?

Yes. If you are authorized to work in Canada and have a valid job offer, you upload a letter stating that, in place of bank letters.

Does proof of funds affect my CRS score?

No. It is an eligibility requirement, not a scoring factor. For the score, see how to improve your CRS score.

Can money in a foreign bank account count?

Yes, if it meets the same rules. Show the account, the balance, the original currency and how you converted it to Canadian dollars.

Should I move all my money to a Canadian bank before applying?

Not just to make the file look stronger. What matters is that the money is available and that the records prove its source, ownership and value.

The bank letter has an error and I’ve already submitted. What now?

Ask the bank to correct or clarify it and keep the correspondence. If IRCC has contacted you, follow the instructions in its request and send a short explanation with the corrected letter.

My funds come from several sources. Where do I start?

With a written summary that traces each balance to its account and its source: savings, salary, a sale, a transfer. If it includes complex transfers, a recent asset sale or several family account holders, have it reviewed before you rely on it.

Can a term deposit count if I can’t withdraw it yet?

Read its redemption terms first. The money must be available to you when you arrive; if it is locked beyond that, explain how and when you can access it, or don’t count it.

Conclusion

Getting Express Entry proof of funds right means confirming whether your program requires it, counting every family member, checking IRCC’s current table and building a traceable record of money you can access. Match your bank letters to your statements and application, explain unusual deposits, and keep the balance available through the process. For help with funds from several sources, you can describe your situation or book a consultation.

Official sources

Official pages consulted on October 17, 2026:

• IRCC — Proof of funds