Yes, if you do not make a purchase within 365 days from your last purchase, your points expire.
Points earned through engagement activities within the FLX Program (e.g. profile completion, surveys, etc.) do not count toward the 365-day expiration timeline. For example, if you engaged with the FLX Program, but did not make a purchase, your points bank will still expire 365 days after your last purchase.
If you make a purchase and then return all the items from that purchase, the 365-day countdown start reverts back to the previous last purchase date.