Proof of Funds — Settlement Money Requirement
Documentation showing you have enough liquid funds to support yourself and family upon arrival in Canada. Required for Federal Skilled Worker (FSW) and Federal Skilled Trades (FST) applicants — but exempted for Canadian Experience Class (CEC) applicants with valid arranged employment.
What is Proof of Funds (PoF)?
Proof of Funds (PoF) is documentary evidence that Express Entry FSW or FST applicants have sufficient liquid money to settle themselves and their family in Canada. The amount is set per family size and indexed annually by IRCC.
2026 settlement-funds amounts (indexed)
| Family size | Settlement funds required (CAD) |
|---|---|
| 1 person | ~14,690 |
| 2 people | ~18,288 |
| 3 people | ~22,483 |
| 4 people | ~27,297 |
| 5 people | ~30,690 |
| 6 people | ~34,917 |
| 7+ people | 39,144 + 4,227 per additional |
Always check current IRCC published figures — these are updated each spring.
Who needs PoF
- FSW applicants without arranged employment: required
- FST applicants without arranged employment: required
- FSW/FST with valid arranged employment in Canada: not required
- CEC applicants: never required (CEC has Canadian work experience as the anchor)
What counts as PoF
Eligible funds: liquid, easily-converted-to-cash funds the applicant has unrestricted access to:
- Bank account balances (chequing, savings)
- Investment accounts (mutual funds, stocks, bonds)
- Foreign-currency accounts (converted to CAD at submission date)
- Joint accounts (proportional share generally)
- GICs held in approved Canadian banks
Not eligible:
- Real estate equity (cannot be liquidated quickly)
- Retirement accounts that have early-withdrawal penalties (unless penalty-paid amount is shown)
- Borrowed funds (loans, credit, mortgages — IRCC excludes borrowed money)
- Funds that suddenly appear without explained source (anti-money-laundering scrutiny)
Required documentation
For each account:
- Official letter from the bank/financial institution, dated within 1 week of application
- Statement of account history (typically 6 months minimum)
- Account holder name(s) + account number(s)
- Currency + balance + CAD equivalent at the reporting date
- Confirmation of the applicant's access rights
Common PoF problems
- Sudden large deposit appearing in the 6 months before application — appears suspicious, requires explanation
- Foreign-currency depreciation between submission and decision causing PoF to fall below threshold
- Funds in spouse's account — must be jointly accessible OR principal applicant must have direct access
- Gift funds — not prohibited but need documented source (donor's account history)
Halani's note
Plan PoF documentation 6+ months ahead of application. Stable balance + documented source beats last-minute infusion. We help clients structure PoF evidence to pre-empt common officer concerns.
Not sure how PoF applies to your file?
Halani Immigration Services Inc. — Regulated Canadian Immigration Consultant (RCIC-IRB R711322). Free eligibility assessment, no obligation.
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