You should probably retain legal counsel and/or professional tax advice in this regard.
For your services, the corporation is required to pay you and your brother reasonable compensation for your services.
See https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical...
Moreover, calendar year S corporations pass through net profit to their shareholders each calendar year so you and your brother will be taxed on the $500,000 each even if the corporation does not actually distribute it.
