If you can avoid the area until late in the year, perhaps even into January, the colony generally declines and dies on its own.

In mild climates, some kinds can stay for more than a year. So you could call your county's University Extension Service office to ask what they do in your region.

Here is what I did... I was mad because I didn't know they had a nest there and got 8 stings... Woo.. Nasty. It hurt. Normally I would have poured some gas in their hole but didn't want to waste any gas so I waited until after dark. Boiled a large canning kettle of water. Took that out and poured it on that area. Next day I saw a few flying around their hole and did a rerun that night. That killed them off. They are evil and I wouldn't wait for anything except that evening and do them in.