Automation of renewal date update, based on the renewal date being reached.

I am looking for a formula in which can be used to update a date in a cell and is triggered when the date is reached.

For example-

If the renewal date is 10/02/20 and the next renewal is 1 year from this date, I would like it to add 365 days to the renewal date when the date is reached.

I have found IF statements, but they are coming back #UNPARSEABLE.


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