diff --git a/README.md b/README.md
index 3eaa1c4..63d0120 100644
--- a/README.md
+++ b/README.md
@@ -204,6 +204,12 @@ Moves or renames a secret within the current vault.
 Lists all versions of a secret showing creation time, status, and validity
 period.
 
+`STATUS` is `current` for the secret's current version, `expired` for another
+version whose `NOT_AFTER` has passed, and `inactive` for any other version.
+Adding a version sets `NOT_AFTER` on the version that was current;
+`secret version promote` sets no times. A version that is not current therefore
+shows `inactive` when no version was added while it was current.
+
 #### `secret version promote <secret-name> <version>`
 
 Promotes a specific version to current by rewriting the secret's `current` file
diff --git a/internal/cli/version.go b/internal/cli/version.go
index a4b8a8c..6d292e3 100644
--- a/internal/cli/version.go
+++ b/internal/cli/version.go
@@ -229,9 +229,13 @@ func printVersionRow(
 	}
 
 	// Determine status
-	status := "expired"
-	if version == currentVersion {
+	status := "inactive"
+
+	switch {
+	case version == currentVersion:
 		status = "current"
+	case sv.Metadata.NotAfter != nil && sv.Metadata.NotAfter.Before(time.Now()):
+		status = "expired"
 	}
 
 	// Format timestamps
diff --git a/internal/cli/version_test.go b/internal/cli/version_test.go
index f50d64b..ddc2f29 100644
--- a/internal/cli/version_test.go
+++ b/internal/cli/version_test.go
@@ -5,6 +5,8 @@
 // - TestListVersionsCommand: Tests `secret version list` command output
 // - TestListVersionsNonExistentSecret: Tests error handling for missing secrets
 // - TestPromoteVersionCommand: Tests `secret version promote` command
+// - TestListVersionsStatusAfterPromote: Tests each version's status after
+//   promoting an older version
 // - TestPromoteNonExistentVersion: Tests error handling for invalid promotion
 // - TestPromoteHelpSaysCurrentFileIsRewritten: Tests `secret version promote
 //   --help` text
@@ -244,6 +246,66 @@ func TestPromoteVersionCommand(t *testing.T) {
 	assert.Equal(t, []byte("version-1"), promoted.Bytes())
 }
 
+func TestListVersionsStatusAfterPromote(t *testing.T) {
+	t.Parallel()
+
+	fs := afero.NewMemMapFs()
+	cli := NewCLIInstanceWithStateDir(fs, testStateDir)
+	cli.Mnemonic = testMnemonicBuffer(t)
+
+	setupTestVault(t, fs)
+
+	vlt, err := vault.GetCurrentVault(fs, testStateDir)
+	require.NoError(t, err)
+
+	vlt.Mnemonic = cli.Mnemonic
+
+	addTestSecret(t, vlt, []byte("version-1"), false)
+	addTestSecret(t, vlt, []byte("version-2"), true)
+	addTestSecret(t, vlt, []byte("version-3"), true)
+
+	vaultDir, err := vlt.GetDirectory()
+	require.NoError(t, err)
+
+	// Newest first
+	versions, err := secret.ListVersions(fs,
+		filepath.Join(vaultDir, "secrets.d", "test%secret"))
+	require.NoError(t, err)
+	require.Len(t, versions, 3)
+
+	newest, middle, oldest := versions[0], versions[1], versions[2]
+
+	cmd := newRootCmd()
+
+	var buf bytes.Buffer
+	cmd.SetOut(&buf)
+	cmd.SetErr(&buf)
+
+	err = cli.PromoteVersion(cmd, "test/secret", oldest)
+	require.NoError(t, err)
+
+	buf.Reset()
+
+	err = cli.ListVersions(cmd, "test/secret")
+	require.NoError(t, err)
+
+	// STATUS is the fourth field of a row, since CREATED is a date and a time
+	statuses := map[string]string{}
+
+	for line := range strings.SplitSeq(buf.String(), "\n") {
+		fields := strings.Fields(line)
+		if len(fields) > 3 {
+			statuses[fields[0]] = fields[3]
+		}
+	}
+
+	assert.Equal(t, "current", statuses[oldest])
+	// Its NOT_AFTER was set when the newest version was added
+	assert.Equal(t, "expired", statuses[middle])
+	// It has no NOT_AFTER
+	assert.Equal(t, "inactive", statuses[newest])
+}
+
 func TestPromoteNonExistentVersion(t *testing.T) {
 	t.Parallel()
 
diff --git a/internal/secret/version.go b/internal/secret/version.go
index 16e4159..5f6604c 100644
--- a/internal/secret/version.go
+++ b/internal/secret/version.go
@@ -32,7 +32,8 @@ type VersionMetadata struct {
 	ID        string     `json:"id"`                  // ULID
 	CreatedAt *time.Time `json:"createdAt,omitempty"` // When version was created
 	NotBefore *time.Time `json:"notBefore,omitempty"` // When this version becomes active
-	NotAfter  *time.Time `json:"notAfter,omitempty"`  // Expiry (nil = current)
+	// NotAfter is set when another version is added while this one is current
+	NotAfter *time.Time `json:"notAfter,omitempty"`
 }
 
 // Version represents a version of a secret