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So long as your running instance matches the Reserved instance you have purchased, then there is nothing for you to do.
Hello,
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When a Reserved Instance expires, any instances still running will continue operating but will be charged the on-demand rate instead of the Reserved Instance rate. To start receiving the pricing benefits of a new Reserved Instance, the running instance would need to match the attributes (e.g. instance type, region) of the new Reserved Instance.
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AWS does not automatically link or migrate running instances to new Reserved Instances. The new Reserved Instance will provide pricing benefits for any new instances launched that match its attributes. Any configuration like elastic IP addresses, EBS volumes, etc. attached to the original instance would remain as-is after expiration - they are independent of the Reserved Instance and would not need to be recreated.
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In summary, the new Reserved Instance purchase on its own will not affect the existing on-demand instance or its configuration. Thanks
Abhinav
My new Reserved Instance and running instance have same attributes like instance family, size, region.
I need to do something ?
No, as long as the instance attributes match, you don't have to do anything else - the discount will apply automatically.