IRCC raises proof of funds threshold for Express Entry applicants
Canada’s Immigration, Refugees and Citizenship Canada (IRCC) has updated the minimum proof‑of‑funds requirement for Express Entry applicants under the Federal Skilled Worker (FSWP) and Federal Skilled Trades (FSTP) programs. These changes took effect July 7, 2025, and applicants must revise their settlement funds in their Express Entry profiles by July 28, 2025, to maintain eligibility
Who Is Affected?
The new settlement fund thresholds apply to:
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
Candidates in these two programs must update their Express Entry profiles to reflect the new fund requirements if they wish to remain eligible.
Note: Those applying under the Canadian Experience Class (CEC) or those who already have a valid job offer in Canada are exempt from the proof of funds requirement.
Updated Settlement Fund Requirements
The amount of money required depends on the number of family members. Below is the updated table effective July 28, 2025:
| Number of family members | Funds needed as of July 7, 2025 | Previous proof of fund requirement (valid June 3, 2024 – July 7, 2025) |
| 1 (the applicant) | $15,263 | $14,690 |
| 2 | $19,001 | $18,288 |
| 3 | $23,360 | $22,483 |
| 4 | $28,362 | $27,297 |
| 5 | $32,168 | $30,690 |
| 6 | $36,280 | $34,917 |
| 7 | $40,392 | $38,875 |
| For each additional family member over 7 | $4,112 | $3,958 |
Who Must Demonstrate Funds
Applicants must show proof of funds if they are applying under FSWP or FSTP without a valid Canadian job offer. However, exemptions apply if they:
- Apply through the Canadian Experience Class (CEC); or
- Hold a valid job offer and work authorization in Canada—even if technically filing under FSWP or FSTP.
In exempt cases, while funds evidence isn’t required, they must upload a letter to your profile confirming the exemption
What Counts as Proof of Funds
To meet requirements, applicants must present:
- An official bank letter on institutional letterhead, including:
- Your name, account numbers, opening dates, current balances, 6-month average balance
- Any outstanding debts (e.g., loans, credit card balances)
- Bank’s contact information
- Funds must be liquid and immediately accessible—real estate equity, borrowed money, or locked investments aren’t acceptable
What Applicants Should Do Now
- Review the Express Entry profile
- If applying under FSWP or FSTP without exemption, update settlement funds as per the new table
- Arrange for the updated official bank letter
- If exempt, write and upload a declaration letter explaining the CEC or job-offer status
Meeting these requirements ensures their continued eligibility in the Express Entry pool and keeps their ranking intact.