Which piece of information is NOT required from the transmittor in the transmittal order?

The reason the choice regarding the purpose of the funds transfer is not required from the transmittor in the transmittal order is rooted in the specific requirements outlined by the Bank Secrecy Act (BSA) and its corresponding regulations. The BSA primarily focuses on collecting data that is essential for monitoring and reporting transactions that could be indicative of money laundering or other financial crimes.

In the context of a transmittal order, the regulatory requirements prioritize essential identifying details of the transmittor and the transaction itself to ensure that adequate information is documented for compliance purposes. This includes the transmittor’s name, the execution date, and identifying details of the recipient's financial institution. While knowing the purpose of a funds transfer can be useful in certain circumstances, it is not a required piece of information to be collected as part of the transmittal order. This distinction illustrates the BSA's focus on concrete transactional data rather than the subjective reasons behind the financial movement.

Overall, the essence of this requirement stems from balancing the need for effective monitoring against the administrative burden of collecting excessive information, which can sometimes be open to interpretation.