When you lose your H1B job, USCIS provides a 60-day grace period to:
The 60-Day Clock Starts Now
When you lose your H1B job, USCIS provides a 60-day grace period to:
- Find a new H1B employer (who files a transfer petition)
- Change to a different visa status (H4, F1, B1/B2)
- Leave the United States
Missing the 60-day window means you've overstayed your visa — which has serious immigration consequences.
Day 1–7: Immediate Financial Actions
1. Calculate Your Runway
With no income, how long can you survive on savings?
Emergency fund calculator:
- Monthly expenses (rent + food + insurance + minimum payments): $X
- Savings: $Y
- Runway: Y ÷ X = months
Target: 6 months runway. If you don't have this, trim all discretionary spending immediately.
2. File for Unemployment Benefits
H1B holders who lose their jobs through no fault of their own may qualify for unemployment benefits in most states. This is a common misconception — visa status alone doesn't disqualify you.
- File within 1–2 weeks of job loss
- Typically 40–50% of your weekly salary, up to a state maximum
- Available for up to 26 weeks in most states
3. COBRA Health Insurance
Your employer health insurance ends on your last day (or end of the month). Elect COBRA within 60 days:
- Covers you for up to 18 months
- You pay full premium + 2% admin = $500–$1,400/month
- Expensive but critical — one ER visit without insurance = $10,000+
4. Stop Non-Essential Subscriptions
Cancel or pause: streaming services, gym memberships, food delivery subscriptions. Redirect that $200–$400/month to your emergency fund.
Day 7–30: Find Your Next H1B Sponsor
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Your immigration attorney or a job placement firm should be working on this immediately. Key points:
- Premium processing ($2,805 fee) gets USCIS decision in 15 business days — worth it in a layoff situation
- Your employer doesn't need to wait for approval to start paying you (portability rules)
- H1B transfers don't restart your priority date
Day 30–60: Financial Decisions If Leaving US
If you can't find an H1B sponsor in time:
401k Options
- Leave it: Continues growing. Withdraw at 59.5+.
- Roll to IRA: Cleaner to manage from India.
- Withdraw: 10% penalty + income tax if under 59.5. Last resort.
US Bank Accounts
- Keep at least one US bank account open (Chase or Bank of America have international ATM access)
- Fidelity and Schwab brokerage accounts can be kept by non-residents
NRE/NRO Accounts
- Open NRE + NRO accounts in India before you leave
- Much easier with US documents in hand
Related Guides
- Emergency Fund on H1B →
- H1B Health Insurance: COBRA Guide →
- 401k After Returning to India →
- NRE vs NRO Account Guide →
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