You need to get some professional tax advice so you understand the tax implications of being an S corportion:
- Based on your facts, you already have an issue by not paying yourself wages and reporting this on a W-2 along with the appropriate withholding for federal, state (if applicable) and any local taxes.
- Not paying yourself a reasonable salary via the W-2 and just taking distributions is a focus area for the IRS.
- As a more than 2% shareholder you cannot participate in an employer HSA. You would need to set one up outside of the company.
- Finally, you are only able to contribute to a SEP if you have qualifying compensation. Since you don't have any W-2 wages, you don't have any qualifying compensation.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
