Effective July 28, 2025, Immigration, Refugees and Citizenship Canada (IRCC) has announced new proof of funds requirements for Express Entry candidates. These updates follow the annual adjustment aligned with 50% of Canada’s Low-Income Cut-Off (LICO) figures.
Whether you’re a skilled worker, tradesperson, or immigrating with your family, it’s crucial to understand these changes to remain eligible under the Express Entry system.
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This guide breaks down everything you need to know — who the changes affect, how to update your profile, and how to provide valid proof of funds.
2025 Proof of Funds Requirements: Updated Table
IRCC released the updated proof of funds table on July 7, 2025, which takes effect on July 28, 2025:
| Family Size | New Minimum Funds (CAD) | Previous Requirement (CAD) |
|---|---|---|
| 1 | $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 member | $4,112 | $3,958 |
Important: These amounts apply to you, your spouse or common-law partner, and dependent children — even if they are not accompanying you to Canada.
Who Must Provide Proof of Funds?
Proof of funds is mandatory for applicants under:
- Federal Skilled Worker Program (FSWP)
- Federal Skilled Trades Program (FSTP)
You must show you have enough money to support yourself and your family after moving to Canada.
Exemptions
You are not required to show proof of funds if:
- You’re applying under the Canadian Experience Class (CEC) – because you already have Canadian work experience.
- You have a valid job offer and authorization to work in Canada – even if you’re applying under FSWP or FSTP.
Note: If exempt, upload a letter explaining your situation (e.g., applying under CEC or holding a valid job offer) when invited to apply. This helps ensure proper processing, as the system may still prompt you for proof of funds.
What Counts as Acceptable Proof of Funds?
You must submit official documentation showing you have readily available and legally accessible funds.
Documentation Must Include:
- Printed on bank letterhead
- Bank’s contact information (address, phone, email)
- Your name
- Account numbers
- Date each account was opened
- Current account balances
- Average balance over the past six months
- Details of any outstanding debts (e.g., loans, credit cards)
Additional Rules:
- Funds must be available both at the time of application and when you receive your permanent residence visa.
- You cannot use:
- Property equity
- Borrowed funds
- Joint or Spouse’s Accounts: You can include joint account funds or funds solely in your spouse’s name — as long as you provide evidence of access (e.g., a notarized letter or bank authorization).
Tip: IRCC prefers official letters over bank statements. Submitting only statements may result in your application being returned as incomplete.
How to Update Your Express Entry Profile
If your settlement funds are below the new threshold, update your profile by July 28, 2025 to maintain eligibility.
Steps to Update:
- Log into your IRCC secure account
- Go to your Express Entry profile
- Navigate to the Settlement Funds section
- Enter the updated amount based on your family size
- Save and submit your changes
Already have more than the updated requirement? No need to update.
Make sure all other profile details (e.g., language scores, work history) are accurate and current.
Why This Matters
The 2025 update to proof of funds is essential for those applying through:
- FSWP
- FSTP
- Provincial Nominee Programs (PNPs)
Staying compliant ensures you remain eligible and competitive in the Express Entry pool.
Latest Express Entry Draw: July 7, 2025
- Invitations to Apply (ITAs) Issued: 356
- Program Targeted: Provincial Nominee Program (PNP)
- Minimum CRS Score: 750
- Tie-breaking rule: Profiles submitted before March 19, 2025, at 04:09:09 UTC
Next Express Entry Draw (Expected)
Based on IRCC’s biweekly pattern, the next draw is anticipated on July 8 or July 9, 2025, likely targeting CEC candidates.
Source: Immigration, Refugees and Citizenship Canada (IRCC)
