Forms 5471 and 8992

This question is regarding forms 5471 and 8992.  I don’t expect an immediate answer.

My husband and I file jointly.  We live in the Republic of Panama. We own no property in the USA. As foreigners, it is customary when buying your primary residence to form a corporation to which the home becomes an asset.  My husband and I are on the Board of Directors of the corporation.  The corporation also has 10 shares with a value of $10,000.00.  Our living trust holds the shares.  The corporation makes no income and claims no expenses.  This information is filed with the Panamanian government (income tax system) every year. 

My question is are we required to complete forms 5471 and 8992?  Since I have never been sure, I have filed them every year since we bought our home.  The forms consist of nothing but zeros (no income, no expenses).  Seems like a waste of time.  Will continue if required, but would rather not.

Thank you.

Bmoore