Invisibility cloaks have been one of the major breakthroughs in the field of metamaterials, and several techniques are currently available to suppress the electromagnetic scattering from different objects. So far, however, theoretical and experimental results have consistently shown fundamental challenges in terms of the bandwidth and size of the object to be hidden. Understanding the bandwidth limitations of cloaking therefore becomes important to assess the applicability and potential of cloaking devices in practical scenarios. While it is generally accepted that cloaking is difficult to achieve, no work to date has quantified this issue for general invisibility devices. Here, by applying the Bode–Fano theory of broadband matching, we derive fundamental bounds on bandwidth and performance for general passive cloaking schemes applied to planar objects, determined by the properties of the object to be hidden, and then explore their implications in three-dimensional scenarios. Our results define a general framework to estimate the ultimate performance of passive cloaks and suggest that fundamentally new directions, involving nonlinearities and active metamaterials, become necessary to realize broadband cloaking, opening a new phase in the quest for invisibility.