Company formation/Legality is offshore for usa citizens

[AlexTaylor]

This has been discussed so many times, but the more I read about it, the more confused I get.

I know that American income taxes are worldwide, but does this mean that my offshore corporation will be taxed as well every year?

Let's say a US citizen opens an offshore corporation for trading, where there is 0 capital gains.
He is the sole owner of this corporation .
He doesn't take any salary.
Trade is conducted from the United States.

1.) Do I still have to pay year-end income tax from a corporation in the US? (no salary was paid)
2.) If I don't take any money for 5 years and then close the account, how much money will I have to pay to the IRS?
3.) Do I have to report to the IRS about the ownership of such a corporation ?

I feel like the IRS will tax me every year as soon as I bring the money back.

If I decide to start a business, can anybody help with company formation?

[ValentinePerry]

You should realize that another way of looking at it is that an offshore company is technically an onshore company in the foreign jurisdiction in which it is incorporated, here is a useful resource https://www.offshorecorptalk.com/. If foreigners or foreign companies are allowed to set up companies in that country, then it is legal to set up an offshore company in that country.