When a political organization terminates, excess funds must be transferred within a reasonable period of time for certain purposes, or held in reasonable anticipation of future exempt function use. If the organization does not do so, they will be treated as expended for the personal use of the person(s) having control of the funds.
There is no specific time requirement for when the funds must be expended. Instead, because a candidate may take some time to decide whether to run again, a rule of reason applies. Some of the factors to be considered are:
Whether there are outstanding expenses remaining from the previous election
Whether the candidate has announced an intention to seek election in the future
The uses to which the excess funds are currently being put.