AA accepts vouchers that are more than a year old. DO NOT turn them in for a new one because every time you do that you lose $75. Just hold on to it until you are ready to use it for yourself or someone else. We treat them the same as cash. Likewise if you lose it, it is not replaceable. If the voucher is more than a year old there is a one time fee of $75 when you use it as opposed to renewing it every year at $75. a pop.