Ask for a friend, his I-20 expiration date is about August, and that’s when his program officially ends/graduation date. But now he’s outside US and his OPT application is still pending, he’s got the OPT receipt already. He’s thinking about re-enter US after I-20 expires with an OPT receipt, is that too risky? Or should he come back before I-20 expires? His F-1 visa is valid and OPT EAD probably won’t be received when he come back.
Because his EAD hasn’t arrived yet, and his I-20 will expire?
I think a valid I-20 is required for entry into the US.
If he enters after i20 end date and OPT is approved, it's generally advised that he has his EAD and job offer with him. If it's still pending, he can return with his receipt and a job offer will help as well. I've seen people enter without these and not having any problem but it's risky. OPT application status has no effect if he's entering before program end date, although it is adviced that he carries proof of enrollment from the university. One thing to remember is to have a unexpired travel signature on the i20 while entering the US. Best course of action is to get advice from the university's international students office.
Enter with EAD and job offer.