Canada’s immigration system continues to evolve, and if you’re an Express Entry candidate, there’s a recent update that might affect your eligibility. The Immigration, Refugees and Citizenship Canada (IRCC) has increased the minimum proof of funds requirement by CAD $500—a change that became effective before July 28, 2025.
While this update might seem minor, failing to meet it (or failing to update your profile) could render your application ineligible for future draws.
What’s Changed?
The required settlement funds—the amount of money you must show as available for your relocation—were raised slightly for 2025. If you’re planning to immigrate under the Federal Skilled Worker Program or Federal Skilled Trades Program, you must meet this requirement unless you:
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Are applying under the Canadian Experience Class, or
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Already have a valid job offer in Canada.
Here’s what the new proof of funds amounts look like:
| Family Size | New Minimum | Old Minimum |
|---|---|---|
| 1 | CAD 15,263 | CAD 14,690 |
| 2 | CAD 19,001 | CAD 18,288 |
| 3 | CAD 23,360 | CAD 22,483 |
| 4 | CAD 28,362 | CAD 27,297 |
| 5 | CAD 32,168 | CAD 30,690 |
| 6 | CAD 36,280 | CAD 34,917 |
| 7 | CAD 40,392 | CAD 38,875 |
| Each additional member | +CAD 4,112 | +CAD 3,958 |
Why It Matters
Even a small shortfall like CAD $500 can affect your eligibility. If you didn’t update your Express Entry profile before the July 28, 2025 deadline, your profile could be disqualified from receiving an Invitation to Apply (ITA).
The IRCC requires formal letters from your bank showing:
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Your name
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Account numbers
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Type of account(s)
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Current balance
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Average balance for the past six months
If you’re applying with your spouse, joint accounts can be counted as long as your partner is immigrating with you.
Does Updating Affect Your CRS Score?
No. Updating your proof of funds does not impact your Comprehensive Ranking System (CRS) score or profile rank. As long as you met the deadline, your original submission date remains the same.
What To Do Now
If you missed the update window:
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Review your current profile for eligibility.
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Update your financial documentation.
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If needed, resubmit your profile with the correct fund amounts.
IRCC typically revises these figures annually, so staying informed is critical. A small oversight can cost you a big opportunity.
Final Note: A $500 increase might feel minor, but it makes all the difference between qualifying and being rejected. Stay alert, watch for yearly updates, and don’t forget to act before deadlines.
📩 Need help updating your profile or planning your Express Entry application? Contact RoutePal today!