If you’re applying to immigrate to Canada through Express Entry under the Federal Skilled Worker (FSW) or Federal Skilled Trades (FST) programs, you’re likely aware of the many documents and details you need to provide. But one area that still causes confusion for many applicants in 2025 is Proof of Funds — and it’s something you don’t want to overlook.
What Is Proof of Funds — and Why Is It So Important?
Proof of funds is how you show Immigration, Refugees and Citizenship Canada (IRCC) that you have enough money to support yourself and your family after you arrive in Canada. This is a mandatory requirement for most applicants who don’t have a valid Canadian job offer or aren’t already authorized to work in Canada.
Without updated proof of funds, your Express Entry profile could become ineligible, and you might be missed in upcoming invitation rounds.
New Proof of Funds Requirements – Effective July 7, 2025
IRCC recently updated the minimum required settlement funds. The amount you need depends on your family size. For example:
A single applicant must now show $15,263 CAD
A family of four must show at least $28,362 CAD
If your profile is still showing last year’s amounts, you’ll need to update your proof of funds by July 28, 2025 — or risk being disqualified from future draws.
What You Should Do Now
If you’re in the Express Entry pool, log in to your profile and make sure your proof of funds reflects the latest figures. You’ll also need to upload an official bank letter with specific information like account numbers, balances, and debts — all on the financial institution’s letterhead.
It’s crucial to act before the deadline. Even if your profile was submitted months ago, not updating proof of funds could remove you from the draw process entirely.
Need Help Navigating It All?
We understand that keeping up with IRCC updates and documentation requirements can feel overwhelming — especially when your future is at stake.
That’s where T&A Immigration Consultants Inc., can help. From verifying your documents and guiding you on what counts as acceptable funds to ensuring your Express Entry profile is up-to-date and competitive — we’ve got your back.