Yes, ITIN has a validity period.
The ITIN is valid the first time it is issued or the last time it is used. Since the ITIN is issued for the purpose of paying taxes, the ITIN loses its validity unless a person holding the ITIN files a tax return.
Therefore, once you have an ITIN, it is necessary to submit a tax return at most every 3 years. Additionally, the ITIN becomes invalid if no tax return has been filed for more than 3 years. In this case, an ITIN holder will have to re-apply for ITIN.