New Employer yet to file transfer while Old employer released


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My current employer is giving release tomorrow while new employer is yet to file H1B Transfer.It may take around a week for new emmployer to file for transfer

what are the next steps should i take?

Will my H1b status be still valid till next employer transfers?

You will be out of status from day after tomorrow. A few days of gap will not cause problem. If you anticipate more days for new employer to file a cap exempt H1B petition then talk to new employer's attorney about filing a COS to B2 to keep you in status in US.

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