Last verified: July 6, 2026 · Official source: canada.ca — Proof of funds
General information, not legal or immigration advice. For advice on your situation, consult a licensed RCIC or immigration lawyer.
Not the same as study-permit proof of funds
This is a different requirement from the study permit financial requirement. Settlement funds are a one-time amount Express Entry applicants must show they have available and unencumbered (not the same as a bank balance you plan to keep spending down) at the time they're invited to apply — proof that you can support yourself and your family while you settle in Canada.
Who needs to show settlement funds
| Program | Settlement funds required? |
|---|---|
| Federal Skilled Worker (FSW) | Yes, unless you have a valid job offer that meets the criteria |
| Federal Skilled Trades (FST) | Yes, unless you have a valid job offer that meets the criteria |
| Canadian Experience Class (CEC) | No — CEC applicants are fully exempt |
| Provincial Nominee Program (via Express Entry) | Depends on the nominating province's requirements |
If you're applying strictly under CEC, you don't need to show settlement funds at all, regardless of family size.
How much you need
⚠️ We don't reproduce the exact dollar figures here. IRCC updates the settlement-funds table every year (based on 50% of Statistics Canada's Low Income Cut-Off, adjusted for family size), and our research could not get a single, fully consistent number directly from canada.ca at the time of writing — canada.ca blocks automated verification tools, and third-party sources we checked did not agree with each other on the exact current figures. Do not rely on a number from this guide or anywhere else that isn't the live table.
Always check the current table yourself on canada.ca's Express Entry proof of funds page before you submit your e-APR — the amount is assessed as of the day you submit, not the day you entered the pool.
What counts as an acceptable proof
- Official letters from your bank(s) or other financial institution(s) — not screenshots or unofficial statements.
- Letters must show: the institution's name/contact info/logo, the account holder's name(s), account numbers, opening dates, current balances, and the average balance over the past 6 months.
- Funds must be available and unencumbered by debts or other obligations — a large personal loan sitting in the same account doesn't count.
- Funds must be in a freely convertible currency, held by you or your accompanying spouse/partner (not a third party who isn't immigrating with you).
Common mistakes
- Assuming CEC applicants need to show funds — they don't. Don't waste time gathering documents you won't need.
- Using the study-permit or another program's dollar figure — the Express Entry settlement-funds table is a different, family-size-based table.
- Waiting until the ITA to check the current amount — verify early so there's time to build up funds if you're short, since the assessment date is when you submit your e-APR.
- Counting funds that are already spoken for (e.g., committed to a house purchase, a business, or debt repayment).
Where this fits
Part of the Permanent Residence hub — relevant at Step 5 of the Express Entry process, when you assemble your e-APR documents.