Hi there
In order to bind your Futaba 16IZ to the RX you'll first have to go into 'Linkage Menu' then click on 'System Type' listed in column one and choose your Receiver type from the list.
Press the link button on the same page of the TX and it should link with the RX once you've pressed the bind button on the receiver. You need to know exactly which receiver your using (eg: FASST 7CH, T-FHSS, etc).
If this fails then try and update your transmitter to the version v6 software update on the Futaba USA download site. Then try and binding again.