Not per the Roman Catholic sources I noted.
But your inaccurate restatement , actually a counter-statement ("This completely wipes out...") completely wipes out the Body of Christ, which is the Communion of Saints, believers, who need each other:
The statement applies to those believers on earth.
And it completely wipes out the very lifeblood of the Body of Christ, which is our love and prayers for one another in Christ: James 5:16 "The prayer of a righteous person is powerful and effective.
As long as the righteous person is praying to God.
Romans 14:8
"If we live, we live for the Lord; and if we die, we die for the Lord. So, whether we live or die, we belong to the Lord."
Therefore, there is no indication whatsoever that a person who has passed on to heaven, ceases to be a member of the Body of Christ. Frankly, this idea strikes me as bizarre. It's unimaginable to me that one becomes less spiritually connected to the Lord and to the Body of Christ when one is with the Lord in heaven.
So you can understand this as a paradoxical truth: we come to share in Christ's divinity, who humbled Himself to share in our humanity. That's what St. Peter says: we become "partakers in the divine nature".
We "mature to the full measure of the stature of Christ."
We "put on the new self, created to be like God in true righteousness and holiness."
So then, even when I am conversing with you, ealgeone, the two of us are in Christ. What difference does living or dying make? We are already dead to this world:
Colossians 3:3
"For you died, and your life is now hidden with Christ in God."
Christ is our life. He is Mary's life. He is my life. He is the life of every saint, in this world and in the world tro come.
This is the way--- the only way --- we can love one another and pray for each other: in our unbroken bond as members of One Body.
"Holy Mary, Mother of God, pray for us sinners now and at the hour of our death."