I'm familiar with the requirements to maintain ifr currency; however, I heard from a colleague that after 2 years of letting your currency expire, that you are required to take the IPC with an examiner, i.e. you can't use a CFII for the IPC if you let it go more than two years. Is this correct?

I have always been under the impression that, if you don't maintain your IFR currency, after one year regardless of how many years it has been that you can take an IPC with a CFII, DE, or FSDO examiner.