A new $100,000 fee for H-1B visas goes into effect Sunday, but it will not be applied to existing holders of valid visas re-entering the country, a White House official tells Axios.

Why it matters: President Trump's executive order, as written, gave some lawyers the impression the fee would kick in immediately for existing holders — prompting panicked advice to clients to get back to the U.S. Saturday, or else.

Catch up quick: Friday night, Trump signed an order requiring an H-1B holder, or their corporate sponsor, to pay an annual $100,000 fee for their visa. • For the biggest H-1B employers — tech companies like Microsoft and Amazon, and outsourcing companies like Cognizant — that could potentially mean a new fee burden in excess of $1 billion a year.

The intrigue: The rules kick in

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