My H1-B is picked/approved in the lottery by employer A but I lost my job, can I shift to H4 until I find a new employer and still use my H1-B after I find a new employer without the lottery process? Will I be able to transfer my H1-B once I get a new sponsoring employer?
Yes, you can move to H-4 temporarily and then back to H-1 when you find another job. You don’t need to go through the lottery again. Make sure you have a copy of the approval notice.
Are you currently inside US or outside US?
Thank you for the answer. Yes, I am currently in the U.S. What happens if my employer revokes my H1-B? They have told us if we do not get a new employer by Oct 1st, they are going to revoke the H1-B. In that case, can I go to H4 and then come back to H1?
Yes, you can move to H4 and then back to H1 in future.
Oct 1 is fast approaching. So see if your H4 COS can be applied before they send the H1 petition for withdrawal. If the COS is applied later in Oct, then you maybe asked to produce Oct payslip (until 15th or 31st).
Another option is to leave US and then return on H4 visa after Oct 1. This way your H1 COS is invalidated and no further action is required on your side.