If you decide to change to another form of business organization, close your operations permanently or sell your business to another, you will likely need to liquidate the corporation.
We do that with the style and format of our responses.
It has no AE&P, only AAA and Additional Paid in Capital (additional basis on stock).
In this case, are you saying that no 1099-DIV (Box 8) is required?
Instead of taxing both the corporate earnings and the distributions to the shareholders, S corporation income is not taxed on the corporate level.
Upon liquidation, any gain on the sale of assets will be passed to the shareholders.