Sub Demo()
Application.ScreenUpdating = False
Dim Shp As Shape, iShp As InlineShape
For Each Shp In ActiveDocument.Shapes
  With Shp
    If (.Top < .Anchor.PageSetup.TopMargin) Or _
      (.Left < .Anchor.PageSetup.LeftMargin) Or _
      (.Top > .Anchor.PageSetup.BottomMargin - .Height) Or _
      (.Left < .Anchor.PageSetup.RightMargin - .Width) Then
        Set iShp = .ConvertToInlineShape
        iShp.ConvertToShape
    End If
  End With
Next
Application.ScreenUpdating = True
End Sub