This is not correct: "No Payroll"

S Corp is required to have payroll. Any shareholder who also works for that Corporation in its business is an Employee. The IRS specifically looks for that error and the entity runs the risk that all takings by this person will be recharacterized as Payroll, and they will be late with payroll, incurring penalty and interest, because this scenario is called "trying to avoid payroll taxes" and is not legal.

You have a bigger problem, my friend.