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H1B - F2 application

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Hi! Need your help for H1B to F2 visa?

I am an H1B holder but will be laid off in about on Sept 9th, 2019. My first term of the H1B will expire on Sept 15th, 2019.  My wife is still an F1 student, but we changed her staus from H4 to F1 and her F1 got approved in May 2019, she did not go out of the country to get her F1 Visa stamped yet, so we are thinking about applying an F2 visa for me. 

1) Do I have a grace period of 60 days after Sept 9th to find a new employer who can transfer or file an H1B visa?

2) If I have a grace period, Can I file H1B to F2 Change of Status being on grace period(before a week of expiry of my 60 days grace period)?

3) If I do not have a grace period, I need to file a change of status being on H1B status(let's say a week before my layoff), would it be an ideal time?

3a) If I find an H1B job while my application is under processing, can my employer start the H1B application parallelly while I am waiting for my decision on F2?

3a.i) If my new H1B gets approved while my F2 is pending, do I need to go out of country and get the H1B stamped, or can I stay in the USA and start working for new H1B job, not sure if there is any way to revoke the F2 while it is in the pending state?

Thanks in advance.

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1) No, you must exit once your i94 expires. You must have a receipt for h1b transfer before i94 expiry to legally stay and work on receipt

2) No

3) you can file change of status and stay on receipt. However, COS takes a long time. If you do land another h1b job, you have to wait for your petition to be approved before starting to work. 
3a) This part is tricky. Most probably you need to exit and reenter, since you are not maintaining h1b status or you can wait till COS from H1 to F2 is approved. 


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