diff --git a/src/CONST.ts b/src/CONST.ts
index 9b284752d074..258a66676e00 100755
--- a/src/CONST.ts
+++ b/src/CONST.ts
@@ -497,6 +497,7 @@ const CONST = {
                 MODIFIEDEXPENSE: 'MODIFIEDEXPENSE',
                 MOVED: 'MOVED',
                 REIMBURSEMENTQUEUED: 'REIMBURSEMENTQUEUED',
+                REIMBURSEMENTDEQUEUED: 'REIMBURSEMENTDEQUEUED',
                 RENAMED: 'RENAMED',
                 REPORTPREVIEW: 'REPORTPREVIEW',
                 SUBMITTED: 'SUBMITTED',
@@ -1155,6 +1156,9 @@ const CONST = {
             SVG: 'svg',
         },
         RECEIPT_ERROR: 'receiptError',
+        CANCEL_REASON: {
+            PAYMENT_EXPIRED: 'CANCEL_REASON_PAYMENT_EXPIRED',
+        },
     },
 
     GROWL: {
diff --git a/src/components/ReportActionItem/MoneyRequestPreview.js b/src/components/ReportActionItem/MoneyRequestPreview.js
index 466a5a6eec51..1855152ef640 100644
--- a/src/components/ReportActionItem/MoneyRequestPreview.js
+++ b/src/components/ReportActionItem/MoneyRequestPreview.js
@@ -220,6 +220,8 @@ function MoneyRequestPreview(props) {
             message += ` • ${props.translate('iou.approved')}`;
         } else if (props.iouReport.isWaitingOnBankAccount) {
             message += ` • ${props.translate('iou.pending')}`;
+        } else if (props.iouReport.isCancelledIOU) {
+            message += ` • ${props.translate('iou.canceled')}`;
         }
         return message;
     };
@@ -280,7 +282,7 @@ function MoneyRequestPreview(props) {
                         <View style={styles.moneyRequestPreviewBoxText}>
                             <View style={[styles.flexRow]}>
                                 <Text style={[styles.textLabelSupporting, styles.flex1, styles.lh20, styles.mb1]}>
-                                    {getPreviewHeaderText() + (isSettled ? ` • ${getSettledMessage()}` : '')}
+                                    {getPreviewHeaderText() + (isSettled && !props.iouReport.isCancelledIOU ? ` • ${getSettledMessage()}` : '')}
                                 </Text>
                                 {hasFieldErrors && (
                                     <Icon
diff --git a/src/components/ReportActionItem/MoneyRequestView.js b/src/components/ReportActionItem/MoneyRequestView.js
index b10b8d87cabd..0249a9f5bb11 100644
--- a/src/components/ReportActionItem/MoneyRequestView.js
+++ b/src/components/ReportActionItem/MoneyRequestView.js
@@ -109,6 +109,7 @@ function MoneyRequestView({report, parentReport, policyCategories, shouldShowHor
 
     // Flags for allowing or disallowing editing a money request
     const isSettled = ReportUtils.isSettled(moneyRequestReport.reportID);
+    const isCancelled = moneyRequestReport && moneyRequestReport.isCancelledIOU;
     const canEdit = ReportUtils.canEditMoneyRequest(parentReportAction);
     const canEditAmount = canEdit && !isSettled && !isCardTransaction;
 
@@ -133,11 +134,16 @@ function MoneyRequestView({report, parentReport, policyCategories, shouldShowHor
         if (TransactionUtils.isPending(transaction)) {
             amountDescription += ` • ${translate('iou.pending')}`;
         }
+        if (isCancelled) {
+            amountDescription += ` • ${translate('iou.canceled')}`;
+        }
     } else {
         if (!isDistanceRequest) {
             amountDescription += ` • ${translate('iou.cash')}`;
         }
-        if (isSettled) {
+        if (isCancelled) {
+            amountDescription += ` • ${translate('iou.canceled')}`;
+        } else if (isSettled) {
             amountDescription += ` • ${translate('iou.settledExpensify')}`;
         } else if (report.isWaitingOnBankAccount) {
             amountDescription += ` • ${translate('iou.pending')}`;
diff --git a/src/languages/en.ts b/src/languages/en.ts
index d661ee1ad97b..4053c47d1b7e 100755
--- a/src/languages/en.ts
+++ b/src/languages/en.ts
@@ -9,6 +9,7 @@ import type {
     BeginningOfChatHistoryAnnounceRoomPartOneParams,
     BeginningOfChatHistoryAnnounceRoomPartTwo,
     BeginningOfChatHistoryDomainRoomPartOneParams,
+    CanceledRequestParams,
     CharacterLimitParams,
     ConfirmThatParams,
     DateShouldBeAfterParams,
@@ -542,6 +543,7 @@ export default {
         pay: 'Pay',
         viewDetails: 'View details',
         pending: 'Pending',
+        canceled: 'Canceled',
         posted: 'Posted',
         deleteReceipt: 'Delete receipt',
         receiptScanning: 'Receipt scan in progress…',
@@ -572,6 +574,8 @@ export default {
         managerApproved: ({manager}: ManagerApprovedParams) => `${manager} approved:`,
         payerSettled: ({amount}: PayerSettledParams) => `paid ${amount}`,
         waitingOnBankAccount: ({submitterDisplayName}: WaitingOnBankAccountParams) => `started settling up, payment is held until ${submitterDisplayName} adds a bank account`,
+        canceledRequest: ({amount, submitterDisplayName}: CanceledRequestParams) =>
+            `Canceled the ${amount} payment, because ${submitterDisplayName} did not enable their Expensify Wallet within 30 days`,
         settledAfterAddedBankAccount: ({submitterDisplayName, amount}: SettledAfterAddedBankAccountParams) =>
             `${submitterDisplayName} added a bank account. The ${amount} payment has been made.`,
         paidElsewhereWithAmount: ({payer, amount}: PaidElsewhereWithAmountParams) => `${payer} paid ${amount} elsewhere`,
diff --git a/src/languages/es.ts b/src/languages/es.ts
index 6ea01dc4bd14..ad191301d338 100644
--- a/src/languages/es.ts
+++ b/src/languages/es.ts
@@ -8,6 +8,7 @@ import type {
     BeginningOfChatHistoryAnnounceRoomPartOneParams,
     BeginningOfChatHistoryAnnounceRoomPartTwo,
     BeginningOfChatHistoryDomainRoomPartOneParams,
+    CanceledRequestParams,
     CharacterLimitParams,
     ConfirmThatParams,
     DateShouldBeAfterParams,
@@ -534,6 +535,7 @@ export default {
         pay: 'Pagar',
         viewDetails: 'Ver detalles',
         pending: 'Pendiente',
+        canceled: 'Canceló',
         posted: 'Contabilizado',
         deleteReceipt: 'Eliminar recibo',
         receiptScanning: 'Escaneo de recibo en curso…',
@@ -564,6 +566,8 @@ export default {
         managerApproved: ({manager}: ManagerApprovedParams) => `${manager} aprobó:`,
         payerSettled: ({amount}: PayerSettledParams) => `pagó ${amount}`,
         waitingOnBankAccount: ({submitterDisplayName}: WaitingOnBankAccountParams) => `inicio el pago, pero no se procesará hasta que ${submitterDisplayName} añada una cuenta bancaria`,
+        canceledRequest: ({amount, submitterDisplayName}: CanceledRequestParams) =>
+            `Canceló el pago  ${amount}, porque ${submitterDisplayName} no habilitó su billetera Expensify en un plazo de 30 días.`,
         settledAfterAddedBankAccount: ({submitterDisplayName, amount}: SettledAfterAddedBankAccountParams) =>
             `${submitterDisplayName} añadió una cuenta bancaria. El pago de ${amount} se ha realizado.`,
         paidElsewhereWithAmount: ({payer, amount}: PaidElsewhereWithAmountParams) => `${payer} pagó ${amount} de otra forma`,
diff --git a/src/languages/types.ts b/src/languages/types.ts
index a012ebdfb95b..96dd85dfb627 100644
--- a/src/languages/types.ts
+++ b/src/languages/types.ts
@@ -125,6 +125,8 @@ type PayerSettledParams = {amount: number | string};
 
 type WaitingOnBankAccountParams = {submitterDisplayName: string};
 
+type CanceledRequestParams = {amount: string; submitterDisplayName: string};
+
 type SettledAfterAddedBankAccountParams = {submitterDisplayName: string; amount: string};
 
 type PaidElsewhereWithAmountParams = {payer: string; amount: string};
@@ -282,6 +284,7 @@ export type {
     ManagerApprovedParams,
     PayerSettledParams,
     WaitingOnBankAccountParams,
+    CanceledRequestParams,
     SettledAfterAddedBankAccountParams,
     PaidElsewhereWithAmountParams,
     PaidWithExpensifyWithAmountParams,
diff --git a/src/libs/OptionsListUtils.js b/src/libs/OptionsListUtils.js
index c616587c3983..e3b6ec77380e 100644
--- a/src/libs/OptionsListUtils.js
+++ b/src/libs/OptionsListUtils.js
@@ -397,6 +397,8 @@ function getLastMessageTextForReport(report) {
         lastMessageTextFromReport = ReportUtils.getReportPreviewMessage(iouReport, lastIOUMoneyReport, true, ReportUtils.isChatReport(report));
     } else if (ReportActionUtils.isReimbursementQueuedAction(lastReportAction)) {
         lastMessageTextFromReport = ReportUtils.getReimbursementQueuedActionMessage(lastReportAction, report);
+    } else if (ReportActionUtils.isReimbursementDeQueuedAction(lastReportAction)) {
+        lastMessageTextFromReport = ReportUtils.getReimbursementDeQueuedActionMessage(report);
     } else if (ReportActionUtils.isDeletedParentAction(lastReportAction) && ReportUtils.isChatReport(report)) {
         lastMessageTextFromReport = ReportUtils.getDeletedParentActionMessageForChatReport(lastReportAction);
     } else if (ReportUtils.isReportMessageAttachment({text: report.lastMessageText, html: report.lastMessageHtml, translationKey: report.lastMessageTranslationKey})) {
diff --git a/src/libs/ReportActionsUtils.ts b/src/libs/ReportActionsUtils.ts
index bd475a57954e..f58021e17064 100644
--- a/src/libs/ReportActionsUtils.ts
+++ b/src/libs/ReportActionsUtils.ts
@@ -109,6 +109,10 @@ function isChannelLogMemberAction(reportAction: OnyxEntry<ReportAction>) {
     );
 }
 
+function isReimbursementDeQueuedAction(reportAction: OnyxEntry<ReportAction>): boolean {
+    return reportAction?.actionName === CONST.REPORT.ACTIONS.TYPE.REIMBURSEMENTDEQUEUED;
+}
+
 /**
  * Returns whether the comment is a thread parent message/the first message in a thread
  */
@@ -698,6 +702,7 @@ export {
     hasRequestFromCurrentAccount,
     getFirstVisibleReportActionID,
     isChannelLogMemberAction,
+    isReimbursementDeQueuedAction,
 };
 
 export type {LastVisibleMessage};
diff --git a/src/libs/ReportUtils.ts b/src/libs/ReportUtils.ts
index d93661778b83..b6c7b3a34c33 100644
--- a/src/libs/ReportUtils.ts
+++ b/src/libs/ReportUtils.ts
@@ -1480,6 +1480,16 @@ function getReimbursementQueuedActionMessage(reportAction: OnyxEntry<ReportActio
     return Localize.translateLocal(messageKey, {submitterDisplayName});
 }
 
+/**
+ * Returns the preview message for `REIMBURSEMENTDEQUEUED` action
+ */
+function getReimbursementDeQueuedActionMessage(report: OnyxEntry<Report>): string {
+    const submitterDisplayName = getDisplayNameForParticipant(report?.ownerAccountID, true) ?? '';
+    const amount = CurrencyUtils.convertToDisplayString(report?.total ?? 0, report?.currency);
+
+    return Localize.translateLocal('iou.canceledRequest', {submitterDisplayName, amount});
+}
+
 /**
  * Returns the last visible message for a given report after considering the given optimistic actions
  *
@@ -1684,6 +1694,10 @@ function getMoneyRequestReportName(report: OnyxEntry<Report>, policy: OnyxEntry<
         return `${payerPaidAmountMessage} • ${Localize.translateLocal('iou.pending')}`;
     }
 
+    if (report?.isCancelledIOU) {
+        return `${payerPaidAmountMessage} • ${Localize.translateLocal('iou.canceled')}`;
+    }
+
     if (hasNonReimbursableTransactions(report?.reportID)) {
         return Localize.translateLocal('iou.payerSpentAmount', {payer: payerName, amount: formattedAmount});
     }
@@ -4376,6 +4390,7 @@ export {
     shouldUseFullTitleToDisplay,
     parseReportRouteParams,
     getReimbursementQueuedActionMessage,
+    getReimbursementDeQueuedActionMessage,
     getPersonalDetailsForAccountID,
     getChannelLogMemberMessage,
     getRoom,
diff --git a/src/pages/home/report/ReportActionItem.js b/src/pages/home/report/ReportActionItem.js
index 17d49bd0f486..10b08533ff45 100644
--- a/src/pages/home/report/ReportActionItem.js
+++ b/src/pages/home/report/ReportActionItem.js
@@ -34,6 +34,7 @@ import withWindowDimensions, {windowDimensionsPropTypes} from '@components/withW
 import usePrevious from '@hooks/usePrevious';
 import compose from '@libs/compose';
 import ControlSelection from '@libs/ControlSelection';
+import * as CurrencyUtils from '@libs/CurrencyUtils';
 import * as DeviceCapabilities from '@libs/DeviceCapabilities';
 import focusTextInputAfterAnimation from '@libs/focusTextInputAfterAnimation';
 import Navigation from '@libs/Navigation/Navigation';
@@ -413,6 +414,11 @@ function ReportActionItem(props) {
                     </>
                 </ReportActionItemBasicMessage>
             );
+        } else if (props.action.actionName === CONST.REPORT.ACTIONS.TYPE.REIMBURSEMENTDEQUEUED) {
+            const submitterDisplayName = PersonalDetailsUtils.getDisplayNameOrDefault(personalDetails, [props.report.ownerAccountID, 'displayName']);
+            const amount = CurrencyUtils.convertToDisplayString(props.report.total, props.report.currency);
+
+            children = <ReportActionItemBasicMessage message={props.translate('iou.canceledRequest', {submitterDisplayName, amount})} />;
         } else if (props.action.actionName === CONST.REPORT.ACTIONS.TYPE.MODIFIEDEXPENSE) {
             children = <ReportActionItemBasicMessage message={ReportUtils.getModifiedExpenseMessage(props.action)} />;
         } else {
diff --git a/src/types/onyx/OriginalMessage.ts b/src/types/onyx/OriginalMessage.ts
index c5d9c27d34a1..eea4f1dba26e 100644
--- a/src/types/onyx/OriginalMessage.ts
+++ b/src/types/onyx/OriginalMessage.ts
@@ -195,6 +195,11 @@ type OriginalMessageReimbursementQueued = {
     originalMessage: unknown;
 };
 
+type OriginalMessageReimbursementDequeued = {
+    actionName: typeof CONST.REPORT.ACTIONS.TYPE.REIMBURSEMENTDEQUEUED;
+    originalMessage: unknown;
+};
+
 type OriginalMessageMoved = {
     actionName: typeof CONST.REPORT.ACTIONS.TYPE.MOVED;
     originalMessage: {
@@ -220,6 +225,7 @@ type OriginalMessage =
     | OriginalMessagePolicyTask
     | OriginalMessageModifiedExpense
     | OriginalMessageReimbursementQueued
+    | OriginalMessageReimbursementDequeued
     | OriginalMessageMoved;
 
 export default OriginalMessage;
diff --git a/src/types/onyx/Report.ts b/src/types/onyx/Report.ts
index 81a92c4bf603..418607a4e9b4 100644
--- a/src/types/onyx/Report.ts
+++ b/src/types/onyx/Report.ts
@@ -118,6 +118,9 @@ type Report = {
     /** Whether the report is waiting on a bank account */
     isWaitingOnBankAccount?: boolean;
 
+    /** Whether the report is cancelled */
+    isCancelledIOU?: boolean;
+
     /** Whether the last message was deleted */
     isLastMessageDeletedParentAction?: boolean;