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Thanks for the reply. One additional question. In the event of me retaining the stocks/IRA, do I need to file taxes in the US every year even if I am in India?

Hello, I am on an H1-B and am moving to India for good. I have invested in US Stocks and simple IRA. Do I need to cash out or can I keep the stocks for a certain period of time? The simple IRA funds are also invested in stocks and in case of cashing out, I will have to pay heavy penalties...