Quote from: delta on February 12, 2014, 04:27:34 PM

To OP,

The idea is great but the problem is with a business account on bitcoin exchange.

To avoid mixing personal funds with LLC funds, you need a LLC banking account and business account on bitcoin exchange.

Here is what Bitstamp requires to open a "corporate" account:

<<<<< To open a corporate account with us please do so by submitting the following documents:
(i) Certificate of incorporation and Memorandum & Articles of Association or any other relevant founding documents
(ii) Annual return which details who the directors and the beneficial shareholders of your company are as of the last fiscal year or any similar documents which confirm the ownership of the company
(iii) Resolution of the Board of Directors to open an account with Bitstamp and identification of those who have authority to operate the account (if applicable)
(iv) Authorization for other persons to manage your account (if applicable)
(v) Copy of a company telephone landline bill or a recent company bank account statement addressed to your company name and office address
(vi) A high resolution image of the international passport and a proof of residency of at least two members
of the board of directors, and any owners with a ownership share of 25% or more

A proof of residency can be a scanned image of one of the following paper documents:
bank statement (no credit card statements)
utility bill for utilities consumed at the home address
tax return, council tax
certificate of residency issued by a government or a local government authority
you can also submit other documents to serve as proof of residency such as; government-issued documents, judicial authority-issued documents, documents issued by a public agency / authority, utility service company, or similar regulated service providing companies
These documents must be provided as high resolution images and proof of residency must be scanned images of paper documents.
Finally we would ask you to please help us better understand the nature of your business by answering the following questionnaire:
1. What is the name of the company and what is its Tax / VAT ID?
2. What is the company url? How do your customers typically reach you?
3. Is your business listed on a recognized stock exchange? If so, what is your unique membership ID?
4. Who is(are) the owner(s) of your company? Please provide the information of the beneficial share ownership including the percentage of shares each beneficiary owns. Please identify all parties with beneficial voting rights for trusts.
5. What is your company's business activity? Please provide a detailed description of company activity, what service you provide, who your typical customers are, what type of payments you accept and how your services are priced.
6. Is your business regulated for AML? If so, what is your specific policy? Specifically, how do you perform KYC for your customers? Please provide as many details of your AML policy as possible.
7. What is the purpose of your trading on Bitstamp? Please describe in as much detail as possible how you intend to use your trading account. Please also help us understand how the funds which will be sent to your Bitstamp account were acquired.
8. Which bank are you using? Please provide the complete address and SWIFT code.
9. Estimated amount that you would be depositing to your Bitstamp account per month (in USD and BTC)? Please help us better understand your intended frequency and volume of deposit/withdrawal bank transfers.
10. What type of trading will be conducted? Buying/selling/both?
11. Do you have an established relationship with any other bitcoin exchange?
12. Will your company provide Bitstamp's customers services by making use of their Bitstamp accounts? If so, how? >>>>>

Most of those requirements do not apply to LLC for IRA, so you cannot open a business account with Bitstamp. If you have an account with Bitstamp that is only for LLC but is under your personal name, the exchanges will not accept funds from LLC bank, as it is considered third party transaction.

As I understand, other exchanges have similar requirements.

How did you deal with this issue?

I have corporate accounts for my IRA LLC at three different exchanges so far.

Bitstamp was no big deal. I sent them the founding documents for the corporation. It wasn't exactly what they asked for, but it was the equivalent, and they accepted it. Where they were asking for the impossible, like proof of residency of at least two members of the board of directors, I just explained the situation. An LLC doesn't have a board of directors. They had no problem with that. They were quite reasonable about it.

It's not trivial, and it takes some time and effort, but it is doable.