Hand sanitizer has an expiration date, because manufacturers would not be able to sell it without one. [Here](https://www.fda.gov/drugs/pharmaceutical-quality-resources/expiration-dates-questions-and-answers) are the requirements from the FDA. [Here](https://www.fsai.ie/faq/shelf_life/best_before_and_use_by.html) are the requirements in Europe.
The manufacturer has to test the claim made on the bottle label (x% germicidal). They have to be able to support that claim [as part of FDA requirements to market that product](https://www.fda.gov/consumers/consumer-updates/your-hand-sanitizer-fdas-list-products-you-should-not-use). So they run [stability studies](https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/inspection-technical-guides/expiration-dating-and-stability-testing-human-drug-products) to determine how long it will be effective for.
If your product goes past the expiration date, the manufacturer can not support the quality of the product. You can [submit complaints to the FDA](https://www.fda.gov/food/resources-you-food/industry-and-consumer-assistance-cfsan) if the product is not effective within the expiration date. Those may end up in the [FAERS database](https://www.fda.gov/drugs/questions-and-answers-fdas-adverse-event-reporting-system-faers/fda-adverse-event-reporting-system-faers-public-dashboard).
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