Canceling 31 days out or 10 months out results in points going back into your account as is, current use year points remain current use year, banked remain banked, and borrowed remain borrowed. If you are beyond your 8 month banking window, you will not be able to bank points. Moreover, if you are beyond your banking window, you face a risk of losing points simply because it may be real difficult to get a reservation before you use year ends.