Proof of Funds Requirements for Express Entry
What counts as settlement funds, what doesn't, and how the requirement changes based on family size and whether you already have a valid Canadian job offer.
Why proof of funds exists
IRCC requires most Express Entry applicants (specifically those applying under the Federal Skilled Worker Program) to show they have enough money to support themselves and any accompanying family members after arriving in Canada, before they've established income. This isn't a fee or an investment — it's evidence you won't be immediately reliant on social assistance while you get settled.
This requirement doesn't apply to everyone in the Express Entry pool. Applicants who are currently authorized to work in Canada and have a valid job offer, or who are applying under the Canadian Experience Class, are generally exempt — the logic being that income is already established or imminent.
What counts as settlement funds
- Funds in checking or savings accounts that are readily available and unencumbered — not tied up in a locked investment, retirement account with withdrawal penalties, or property
- Funds must be your own or your accompanying spouse/partner's — borrowed money or funds you don't have genuine access to do not count
- The amount required scales with family size — more accompanying family members means a higher threshold
- Funds are verified with official bank letters or statements at the time of application, and must be maintained (not just shown as a snapshot) through to landing
What doesn't count
Assets that can't be readily liquidated — home equity, vehicles, retirement accounts with penalties for early withdrawal, or business equity — generally aren't counted toward the settlement funds requirement, even if they represent real net worth. This trips up some business owners who are asset-rich but have less in liquid checking or savings than expected.
A note on the actual dollar thresholds
The specific dollar amounts required per family size are published by IRCC and adjusted periodically — quoting a number here risks being stale by the time you read it. Mahyar will confirm the current threshold for your family size during your assessment, and help identify which accounts and documentation will satisfy the requirement cleanly.
More on express entry.
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