I have been conducting a year long test for bread yeast after opening a bulk 1lb. package stored in a freezer is opened and then stored in the refrigerator in a snap top container for weekly use. The yeast block tested was stored in my freezer for two years before I opened it for this test.
I found that at 11 months old the refrigerated yeast worked as good as fresh yeast. In the 12th month, it began to be noticeably less active. It did make the dough rise OK but not normal like younger yeast. It produced good bread but the yeast was clearly at the end of its life.
Conclusion:
If you keep yeast frozen for two years and then open it, you have about one year if refrigerated before the yeast becomes questionable for use. My test used 2 years stored frozen yeast. I don’t know how long frozen yeast will be good for because I only tested two-year frozen yeast. However, I suspect frozen yeast will be good for many more years.