WASHINGTON, D.C. (TIP): The US has received a sufficient number of petitions needed to reach a cap for the much-sought-after H-1B foreign work visas for the fiscal year 2024, a federal agency has announced.

The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.

US Citizenship and Immigration Services (USCIS) in a statement on Thursday, December 14, said it has received a sufficient number of petitions needed to reach the congressionally mandated 65,000 H-1B visa regular cap and the 20,000 H-1B visa US advanced degree exemption, known as the master’s cap, for fiscal year 2024.

The US federal government’s fiscal year runs from October 1 to September 30. “We will send non-selection notices to registrants through their online accounts over the next few days,” USCIS said.

USCIS said it will continue to accept and process petitions that are otherwise exempt from the cap.

Petitions filed for current H-1B workers who have been counted previously against the cap and who still retain their cap number are exempt from the FY 2024 H-1B cap. The federal agency will continue to accept and process petitions filed to extend the amount of time a current H-1B worker may remain in the United States; change the terms of employment for current H-1B workers; allow current H-1B workers to change employers; and allow current H-1B workers to work concurrently in additional H-1B positions.