When you cancel just see their behavior.How does that work? For example the points we used for Hawaii were borrowed from 2021. Do they now expire Dec 31. Can you book 120 days out on Dec 31 so a Feb reservation or do you need to book so your stay ends Dec 31. Sorry to be so clueless. We are good are borrowing ahead but have not had experience with cancelling.
Others have commented that banked points have returned to their banked expiration.
Otherwise you may be able to use these as a owned used year at 12 months in 2021. Not sure they can take that right away from you.