Proof of Funds (Express Entry)

[uzumaki]

I have a Fixed Deposit document shown for POF for OINP created in Dec 2015 for term, 1 year.
Now its maturing in few days, I am just wondering if i should extend the term to another year? or get them to savings account and update OINP about it?
If I put them into savings account and update them with OINP, will they extended the timeline?

 

[varun2015]

You don't even need to submit 2 above. Try and get a recent version of 3 above if possible (if that letter only contains information that is unchanging over time, an older letter wouldn't do any harm).

Not possible to get a recent letter( i tried ), the only thing i was able to get was bank statements stamp and sign.

The bank letter states the following info:

- My name/address
- account number ( same account i have statements for)
- Balance as of the date : which is march 2016 (no average balance mentioned)
- And account opening date.

I think the IRCC agent have to connect the dots. the statement will verify that i have maintained the balance for last six month and letter will authenticate the account. ( i do have stamped and signed statement from last one year if it helps in my case)

 

[Asivad Anac]

Not possible to get a recent letter( i tried ), the only thing i was able to get was bank statements stamp and sign.

The bank letter states the following info:

- My name/address
- account number ( same account i have statements for)
- Balance as of the date : which is march 2016 (no average balance mentioned)
- And account opening date.

I think the IRCC agent have to connect the dots. the statement will verify that i have maintained the balance for last six month and letter will authenticate the account. ( i do have stamped and signed statement from last one year if it helps in my case)

Add an LOE highlighting your inability to get a recent dated bank letter.

 

[omarnabsws]

Hello,
I am expecting to get an ITA soon.
Preparing my papers now.

One question regarding POF. In my EE profile, I mentioned that I will bring 15200CAD (I don't have any dependents). At the time of submitting the eAPR I expect my statement will show about 14400CAD or 14500 CAD. Would that be an issue? Since it's above LICO anyway.

Shall I write in the LOE that I am willing to bring more than that anyway (since I am) or do I have to change my EE profile or it doesn't matter?

Thing is, I am not sure how EE works, I got a nomination and I am worried if I update my profile now and a draw takes place tomorrow, it wouldn't be updated by then (since it needs 24 hours?), or the score not showing, and I end up without an ITA.

 

[Stanlee]

Hello,
I am expecting to get an ITA soon.
Preparing my papers now.

One question regarding POF. In my EE profile, I mentioned that I will bring 15200CAD (I don't have any dependents). At the time of submitting the eAPR I expect my statement will show about 14400CAD or 14500 CAD. Would that be an issue? Since it's above LICO anyway.

Shall I write in the LOE that I am willing to bring more than that anyway (since I am) or do I have to change my EE profile or it doesn't matter?

Thing is, I am not sure how EE works, I got a nomination and I am worried if I update my profile now and a draw takes place tomorrow, it wouldn't be updated by then (since it needs 24 hours?), or the score not showing, and I end up without an ITA.

As long as you have funds above the LICO, it does not matter. You can either update it now or post ITA in the eAPR forms.

 

[frustratedcanadian]

Who did you address the POF? Was it to Citizenship and Immigration Canada?

 

[mira_johnson]

Hey guys,

My bank refused to provide me with 6 months balance in my account, and is only able to provide me with my current account balance. What can I do in this instance? I was thinking to print out my account record for the past 6 months via internet bank (that includes all of my transactions as well as income), however, Im not sure how to have it translated given it would be in my country's currency... I really have no idea guys. And it would probably be too much invaluable information for cic.

Please advice?? Many thanks

 

[Asivad Anac]

Hey guys,

My bank refused to provide me with 6 months balance in my account, and is only able to provide me with my current account balance. What can I do in this instance? I was thinking to print out my account record for the past 6 months via internet bank (that includes all of my transactions as well as income), however, Im not sure how to have it translated given it would be in my country's currency... I really have no idea guys. And it would probably be too much invaluable information for cic.

Please advice?? Many thanks

Can your bank calculate and mention 6 months average balance instead? If there is not a significant difference between that and current balance (say less than 15%), you'd still be fine.

 

[harsat]

Hello guys,
I got ITA on Nov. 16, I got all my docs ready but only question is about Proof of funds, I have LMIA and working in Canada from last 3 years. My spouse is also in my file and lives in Australia. I am very confused about funds, Under CEC i dont need to meet fund requirements or Do i need to show $12000 in my account which I dont have. Please if anyone knows anything, please let me know
Thanks in advance!

 

[varun2015]

Hello guys,
I got ITA on Nov. 16, I got all my docs ready but only question is about Proof of funds, I have LMIA and working in Canada from last 3 years. My spouse is also in my file and lives in Australia. I am very confused about funds, Under CEC i dont need to meet fund requirements or Do i need to show $12000 in my account which I dont have. Please if anyone knows anything, please let me know
Thanks in advance!

It is clearly given on IRCC "

Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada"

You are already working so no need to submit POF, in the POF section just upload a LOE with current employment docunents (Paystub, reference letter, t4 etc). It doesnt matter where your wife lives.

 

[Asivad Anac]

It is clearly given on IRCC "

Unless you are currently authorized to work in Canada and have a valid job offer from an employer in Canada, or you have been invited to apply under the Canadian Experience Class, you must show that you have enough money to support yourself and your family after you get to Canada"

You are already working so no need to submit POF, in the POF section just upload a LOE with current employment docunents (Paystub, reference letter, t4 etc). It doesnt matter where your wife lives.

Partly correct.

If OP is invited under CEC, they're exempted from POF requirements. Working on a regular (non LMIA approved) job isn't enough.

 

[harsat]

Thank You Varun

 

[harsat]

Partly correct.

If OP is invited under CEC, they're exempted from POF requirements. Working on a regular (non LMIA approved) job isn't enough.

I have LMIA, so I guess it's all good then and today I got my 2016 T4 as well and I have all my paystubs. Thank you Asivad Anac and Varun.

 

[Max83_ZA]

Hi Guys,

We are placing most of our money in a retirement annuity; can I get a statement of my RA for proof of funds? Do I need to indicate which portion is taxable when I cash out my RA?

Thanks in advance!

 

[mira_johnson]

Can your bank calculate and mention 6 months average balance instead? If there is not a significant difference between that and current balance (say less than 15%), you'd still be fine.

No, my bank could not. Dont ask why, but I tried everything with them. They can only provide me current balance, and I can only print out my entire account record 6 months back. And really unsure how that would work in regards to translation. It seems really silly. Im pretty sure cic is not interested in every single time I bought a coffee. Not to mention the record would be so huge it would probably cost a fortune to translate