Paying the Toyota Camry's renewal fees will not be necessary nor will you need to place your Camry as non-operational. The only concern is that the vehicle's registration does not lapse for greater than 121 days and, if it's ever been PNO, it hasn't been PNO for greater than 60 days.
Depending on how late you are on your registration payment you may or may not be eligible for the vehicle buyback program.