Express Entry tool
Proof of Funds Calculator
Federal Skilled Worker applicants must show they have enough money to settle in Canada. Use this tool to find the required amount for your family size.
Number of family members
Include yourself, your spouse or common-law partner, and all dependent children.
Required settlement funds
$13,757
Canadian dollars (CAD)
Have a valid Canadian job offer? The proof of funds requirement does not apply if you have a valid arranged employment offer in Canada at the time of your application.
What qualifies as proof?
Accepted
- Savings accounts (personal or joint)
- Chequing accounts
- GICs and term deposits
- Stocks and mutual funds
- Bonds
Not accepted
- Credit card limits
- Lines of credit
- Borrowed money
- Outstanding loans
- Money gifted within 90 days without documentation
Who counts as a family member?
Principal applicant
Always counted. This is you.
Spouse or common-law partner
Counted if they will accompany you to Canada, even if they are not on the application.
Dependent children
Children under 22 who are not married or in a common-law partnership. Children 22 or older who have been financially dependent on you since before age 22 due to a physical or mental condition also qualify.
How to prove it
IRCC requires official letters from your financial institution(s), issued within the last six months. Each letter must include:
- Bank letterhead and official contact information
- Your name and account number(s)
- Current balance and currency
- Date the account was opened
- Average balance for the past six months (recommended)
If funds are in a foreign currency, IRCC converts to CAD using the exchange rate at the time of application review.
Official amounts by family size (2024)
Amounts are set annually by IRCC. Last verified 2024-11-01. Source: canada.ca/proof-of-funds.
| Family members | Required funds (CAD) |
|---|---|
| 1 | $13,757 |
| 2 | $17,127 |
| 3 | $21,055 |
| 4 | $25,564 |
| 5 | $28,994 |
| 6 | $32,700 |
| 7 | $36,407 |
| Each additional person beyond 7 | + $3,706 per person |
Figures are in Canadian dollars. IRCC updates these amounts periodically. Always confirm at canada.ca before submitting your application.
Get expert help
Questions about gathering your proof of funds?
Our regulated consultants can review your financial documents and advise on the best way to present them to IRCC.
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