The bigger picture is, I own 99% of shares in LLC, my wife owns remaining 1%. We are both US residents for tax purposes. LLC made all revenue by renting properties abroad. LLC is a foreign entity and falls under foreign country laws. I understand that I have to file form 5471 to report that I OWN THE LLC. My question is, however, about income/expenses part. Should I add LLC income to Schedule E form maybe?

Again, I didn't transfer any money from LLC to any of my private bank accounts (US and foreign) and I am not eligible for dividends (as company did not pay dividends). I have not increased number of shares I own. All of the profit LLC incured in 2017 is stored on LLC's bank account.