H-1b expiring prior to PERM/I-140

H-1b visa expiring in 2022 (6 years). PERM/I-140 approval timeline estimated in 2023. Can I renew H-1b after I-140 approval?

Once I-140 is approved, your employer can file extension of status under AC21 using the approved I-140.

Consult your employer’s immigration lawyer and follow their advice.

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Thanks Kalpesh. Just for my clarification, before I reach out to my immigration lawyer;
I am under the assumption that AC21 is only applicable for Immigrant Aliens that had either PERM and/ or I-140 approved before their H1b maxed out. Is this not correct? Is AC 21 also applicable to candidates in my case, where PERM and I-140 both will be approved only after H1b maxed out?!

You will need to leave the country ( stop working few days before your I-94 ends) and come back on AC21 H1B extension of status after your I-140 is approved.

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Stop working couple of weeks before H1B maxout, and leave. Once PERM and I-140 is approved your employer can file EOS under AC21 requesting 3 years extension.