If the entity is an independent entity i.e.a corporation that exists independent of the owner(s), then at the individual level the only tax reponsibility is on all the income you receive ( whether distributed and/or re-invested). Since per your post you did not receive anything, there is nothing to report. However, I would strongly suggest that you make sure that this is a corporation ( has a life outside of you and can exist even when you are not ), as the rules for LLCs/ Partnerships/ S-Corp are very different from C-Corps-- for US taxation. Also note that you may still be subject to FBAR and/ or FATCA requirements.
What country and what is the type of entity called in that country ( what type GmbH, Ltd., Company, SA etc. etc. ) ?
