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IRCC has revised Proof of Funds requirement for Express Entry candidates

May 17 , 2022 By Rajneesh Kumar

IRCC has revised Proof of Funds requirement for Express Entry candidates

As per the latest update, the IRCC (Immigration Refugees and Citizenship Canada) has revised Express Entry Proof of Funds requirement for 2022.

In order to remain eligible, all Express Entry applicants must update settlement fund numbers as per latest changes in their respective Express Entry profiles by June 8, 2022.

What is Express Entry proof of funds and who needs it?

An applicant needs to show a definite proof of funds amount to the IRCC to convince the immigration officer that they have sufficient funds to settle down in Canada. Once they get an Invitation to Apply (ITA) for Canada PR visa, they must submit written evidence that they have the declared money.

Who needs to submit POF?   

An applicant must meet minimum proof of funds requirement, if applying under:

·         Federal Skilled Worker Program (FSWP)

·         Federal Skilled Trades Program (FSTP)

Refer the table to understand the updated Proof of Funds Requirement as of 9 June 2022

Number of Family Members

Funds Requirement ($CAD)















For each additional family member



Accepted Proof of Funds

An applicant must get official letters from any financial institutions or banks.

The official letter(s) must:

·         be printed on the financial institution’s letterhead

·         include their contact information (address, telephone number and email address)

·         include your name

·         list outstanding debts such as credit card debts and loans

·         include, for each current bank and investment account, the

o   account numbers

o   date each account was opened

o   current balance of each account

o   average balance for the past 6 months

To confirm your eligibility for Canadian PR visa, you may talk to our team of advisors at Canada PR Avenue on Toll-Free-Number- 78-18-000-777or drop an email at info@canadapravenue.com.

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