S corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the corporation before non-wage distributions may be made to the shareholder-employee.
See https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical...
With respect to revoking an election, refer to the information at the link below.
https://www.irs.gov/forms-pubs/revoking-a-subchapter-s-election
