No, let me clarify this.
An amendment to a 2016 tax return for a refund would have had to be completed by October 15th 2020. So, if you don't have any change to carryover losses it is not worth filing anything at all.
If you do have a small amount of additional tax owed in 2016 (that was not due to fraud). The statute of limitation has run out, and the IRS will not be seeking to collect it.
IRS guidelines state:
Generally, the statute of limitations for the IRS to assess taxes on a taxpayer expires three (3) years from the due date of the return or the date on which it was filed, whichever is later. A return is considered to be filed on the due date of the return if it was filed on or before its due date.
An assessment occurs when an IRS officer signs a certificate of assessment stating the amount owed by the taxpayer.
Additionally, the IRS statute of limitations gets extended for an even longer time when there is a substantial omission (more than 25 percent) of gross income on the return.
In these circumstances, the time limit for the IRS to make its assessment gets stretched out to six (6) years from the date the return is filed or deemed filed, whichever is later.
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