Key Takeaways

• New proof of funds thresholds has been released. 
• Express Entry applicants who are required to show proof of funds must update their profiles by July 28, 2025. 
• Failure to update your profile will result in it being removed from the Express Entry pool. 
• This update affects certain Express Entry candidates who do not have a job offer, as well as any applicant who has received an ITA but hasn’t yet submitted a permanent residence application. 
• Some Provincial Nominee Program (PNP) applicants may also be affected, depending on the stream. 

What Is The New Proof of Funds Requirement for 2025/2026? 

Proof of funds thresholds are reviewed and updated annually by IRCC, based on 50% of the Low Income Cut-Off (LICO) figures published by Statistics Canada. These updates reflect changes in the cost of living in Canada.  

The most recent update was announced on July 7, 2025. The table below shows a side-by-side comparison of the previous (2024) and new (2025) proof of funds amounts for Express Entry applicants:

Who This Update Affects 

This update applies to anyone who is in the Express Entry pool or planning to enter it, and who is required to show proof of funds as part of their eligibility. It also affects applicants who have already received an Invitation to Apply (ITA) but have not yet submitted their permanent residence application – they must ensure they meet the new minimum funds requirement. In some cases, Provincial Nominee Program (PNP) applicants may also be impacted, depending on the requirements of their specific stream. 

Applicants who have already submitted their permanent residence application generally do not need to update their proof of funds to meet the new requirement, unless specifically asked by IRCC. 

In all these situations, applicants must be prepared to demonstrate that they meet the updated proof of funds requirement and update their Express Entry profile accordingly. 

Why Is It Important to Update Your Express Entry Profile by July 28? 

IRCC uses the proof of funds requirement to ensure that newcomers can financially support themselves and their families after arriving in Canada. If you’re required to show proof of funds and do not update your Express Entry profile by July 28 to reflect the new minimum amounts, your profile will be removed from the pool. You will not be eligible for future Invitations to Apply (ITAs) until you submit a new qualifying profile that meets the updated requirements. 

How to Update Your Express Entry Profile 

To update your profile, log into your IRCC secure account, navigate to your Express Entry profile, and update the settlement funds section under “Personal details.” Be sure to save and resubmit your profile before the July 28 deadline. We do not recommend waiting until the last minute to do this, in case you encounter technical difficulties.  

Why Did the Thresholds Increase? 

The funds certain applicants are required to demonstrate are revised each year. This year’s increase is in line with the rising cost of living in Canada. The 2025 adjustment reflects a 3.9% increase, or $573 more for a single applicant compared to 2024. Increases are driven by the updated LICO figures that IRCC uses to calculate the required amounts. 

Who Needs to Show Proof of Funds in Express Entry? 

Proof of funds is required for candidates applying under these Express Entry-managed programs if you do not have a valid job offer in Canada: 

• Federal Skilled Worker Program (FSWP) 

• Federal Skilled Trades Program (FSTP) 

Candidates applying under the Canadian Experience Class (CEC) do not need to show proof of funds. 

While this article focuses on Express Entry, it’s worth noting that some Provincial Nominee Programs (PNPs) also use this proof of funds requirement, for example, the Ontario Human Capital Priorities Stream. 

When Do You Need to Show the Funds? 

When you first enter the Express Entry pool, you’re only required to declare the amount of funds you have available in your profile. However, if you receive an Invitation to Apply (ITA), you’ll need to provide documentary proof, such as bank statements, to support your claim.  

These funds must be readily available and accessible. You can learn more about the funds requirement as well as accepted documentation here.  

What If You Can’t Meet the New Threshold? 

If you are required to demonstrate proof of funds but can no longer meet the updated threshold, you are no longer eligible to maintain an active Express Entry profile under the Federal Skilled Worker Program (FSWP) or the Federal Skilled Trades Program (FSTP). In this situation, your profile must be withdrawn, or it will be automatically removed from the pool by IRCC. If you still wish to pursue immigration through Express Entry, you may want to explore alternative pathways, such as gaining Canadian work experience to qualify under the Canadian Experience Class (CEC), or obtaining a valid job offer, which can exempt you from the proof of funds requirement altogether.