DIAGNOSIS This is a fuel starvation issue. The primary suspect is the clogged pilot jet in the carburetor, especially if the unit sat with old fuel.
FIX You must clean the carburetor. Drain all fuel from the tank and carburetor bowl. Remove the carburetor. Disassemble it. Pay specific attention to the pilot jet. It is the smaller of the two main jets. Clean all passages with carburetor cleaner and compressed air. Reassemble, refill with fresh, ethanol-free fuel, and start.
IF THAT DIDN'T WORK Verify the fuel cap vent. The 56203i has a vented cap. If the vent is blocked, a vacuum lock forms in the tank, stopping fuel flow. Try running the generator with the fuel cap slightly loosened. If it runs normally, clean or replace the fuel cap.
HEADS UP Using fuel with ethanol (E10) accelerates varnish formation in the carburetor. For storage over 30 days, you must either run the carburetor dry or use a fuel stabilizer.