I would say no. giving back a gift raises the question as to whether it was a gift in the first place. the IRS could argue that you made the original gift and that now the donee is now a donor (ie what's being done is that a gift is being made to you)
If you won't owe any taxes anyway, why file? Failure to file a form 709 can result in a fine of up to $25,000 and a year in jail, even if the filing wouldn't result in taxes being owed.
