There is absolutely nothing more disappointing than getting ready for a big baking project and then realizing your yeast has expired. Trust me — been there, done that. But no longer! Stored in the freezer, our dry yeast will keep for months past that expiration date.
Far from hurting the little yeast cells, freezing puts them in a state of suspension. Keep them in an airtight container where they are protected from oxygen and humidity. The glass jar the yeast comes in is usually just fine. For bulk yeast, I use a canning jar.
You can use the yeast straight from the freezer. Sprinkling it into room temperature liquid wakes them right back up again. I've kept dry yeast in the freezer for months past its expiration date with no discernable change in how well the yeast works in my baked goods. I'm currently still working through a bulk bag I picked up over two years ago!
If you're ever nervous that the yeast may no longer be good, just test it out in a little warm water with a pinch of sugar. If it starts bubbling after a few minutes, then it's good to go. Also, don't try freezing fresh "cake" yeast; it's different and doesn't usually react as well to being frozen.
Where do you store your yeast?
Related: Working with Yeast: Be Not Afraid!
(Image: Ildi Papp/Shutterstock)
Bacsac Bacsquare 04...

I store mine in a screw-top container in the refrigerator. It last SO LONG that way. I bought mine in bulk from Costco a whole year ago and it's still going strong! Great tip, I will try the freezer method with my next purchase.
Absolutely in the freezer. I keep it right in the bulk bags, unopened. When I need to open one, I move it to a glass jar. I bake all our bread - I have had no problem with 2 year old frozen yeast. One pound bulk bags are soooo much cheaper, especially if purchased at a place like Sam's. If you don't think you'll use that much, at least buy a 4 ounce jar instead of those little, very expensive packets.
I store my yeast (in 4 oz jars) in the fridge, but I bake bread often enough that I use it well before it's expiry date.
I keep my one-pound bags vacuum-packed in the freezer, and occasionally draw from them to replenish a small (approx. half cup) container that I keep in the fridge. This minimizes how often I have to open the frozen bag of yeast and expose it to (relatively) moist, warm air.
At this point, my yeast is probably two years out of date, but it is as peppy as ever.
Manjar - I've had a similar experience. I bought a HUGE bag of yeast at a big box store many years ago and have always stored in sealed tightly the freezer. I didn't really realize until last month that it's 4+ years past it's date, and still works just fine!
I've done this for years; I thought everyone did.
GENIUS. The yeast always expires waaaay before I've even used 1/8th of it (no-knead bread doesn't require much yeast)!
I prefer to use live yeast, I find dry yeast rather unpredictable.