diff --git a/src/held-messages.ts b/src/held-messages.ts
index cfacbd9..dc43272 100644
--- a/src/held-messages.ts
+++ b/src/held-messages.ts
@@ -25,7 +25,10 @@ type HoldEntry = {
 	release: () => void;
 };
 
-/** One message offered to the application, held until it is answered or every listener gives up. */
+/**
+ * One message offered to the application. A drain waits on it until the first of: `answered()`,
+ * every listener that took it rejecting, no listener taking it, its deadline, or the link going.
+ */
 export class MessageHold {
 	private readonly entry: HoldEntry;
 	private working: number;
@@ -64,6 +67,8 @@ export class HeldMessages {
 	private readonly idleWaiters = new IdleWaiters();
 	private readonly log: SmppLog;
 	private readonly maxOctets: number;
+	/** A rejecting listener hands the message back as an `unknown`, so its hold is found by identity. */
+	private readonly offered = new WeakMap<object, MessageHold>();
 
 	constructor(options: HeldMessagesOptions) {
 		this.held = new ExpiringGroups({
@@ -112,6 +117,28 @@ export class HeldMessages {
 		return hold;
 	}
 
+	/** Holds a message, builds what the application is handed, and emits it. */
+	offer<T extends object>(
+		pduObjs: PduObject[],
+		listeners: number,
+		build: (hold: MessageHold) => T,
+		emit: (message: T) => boolean,
+	): void {
+		const hold = this.hold(pduObjs, listeners);
+		const message = build(hold);
+
+		this.offered.set(message, hold);
+
+		if (!emit(message)) hold.release();
+	}
+
+	/** One listener gave up on a message; the last one to do so is what releases it. */
+	listenerRejected(message: unknown): void {
+		if (typeof message !== 'object' || message === null) return;
+
+		this.offered.get(message)?.listenerGaveUp();
+	}
+
 	private has(pduObjs: PduObject[]): boolean {
 		const key = keyOf(pduObjs);
 
diff --git a/src/incoming-requests.ts b/src/incoming-requests.ts
index 4f926de..e3a3d18 100644
--- a/src/incoming-requests.ts
+++ b/src/incoming-requests.ts
@@ -10,7 +10,6 @@ import type { Result, VoidResult } from './result.ts';
 import type { SmppLog } from './log.ts';
 import type { Sms, SmsHandlers, SmsInput } from './sms.ts';
 import type { SmsIdFormat } from './sms-id.ts';
-import type { MessageHold } from './held-messages.ts';
 import { HeldMessages } from './held-messages.ts';
 import { Reassembler, decodeSegments } from './reassembly.ts';
 import { bindCommands, defaults, standsInFor } from './session-options.ts';
@@ -85,8 +84,6 @@ export class IncomingRequests {
 	private readonly deps: IncomingDeps;
 	private readonly dlrMerger: DlrMerger;
 	private readonly held: HeldMessages;
-	/** The rejection handler is handed the Sms back as an `unknown`, so its hold is found by identity. */
-	private readonly holds = new WeakMap<object, MessageHold>();
 	private readonly log: SmppLog;
 	private readonly reassembler: Reassembler;
 	private readonly smsIdFormat: SmsIdFormat;
@@ -172,11 +169,8 @@ export class IncomingRequests {
 		this.reassembler.clear();
 	}
 
-	/** One `sms` listener gave up on a message; the last one to do so is what releases the hold. */
 	listenerRejected(sms: unknown): void {
-		if (typeof sms !== 'object' || sms === null) return;
-
-		this.holds.get(sms)?.listenerGaveUp();
+		this.held.listenerRejected(sms);
 	}
 
 	/** Waits out the messages the application still holds, and says how many it never answered. */
@@ -310,9 +304,8 @@ export class IncomingRequests {
 		if (!first) return;
 
 		const generation = this.linkGeneration;
-		const hold = this.held.hold(pduObjs, this.deps.smsListeners());
 
-		const sms = this.deps.createSms({
+		this.held.offer(pduObjs, this.deps.smsListeners(), hold => this.deps.createSms({
 			answeredAs,
 			from: paramText(first.params.source_addr),
 			message: decodeSegments(pduObjs),
@@ -325,10 +318,6 @@ export class IncomingRequests {
 			lostLink: () => this.linkGeneration !== generation,
 			onAnswered: () => { hold.answered(); },
 			send: input => (hold.isHeld() ? this.deps.sendPastDrain(input) : this.deps.send(input)),
-		});
-
-		this.holds.set(sms, hold);
-
-		if (!this.deps.offerSms(sms)) hold.release();
+		}), sms => this.deps.offerSms(sms));
 	}
 }
diff --git a/todo.md b/todo.md
index 4602348..123c150 100644
--- a/todo.md
+++ b/todo.md
@@ -204,9 +204,6 @@ and 5. Every seat ranked the session's lifecycle hardest and least wanted to mod
 
 - [ ] **Lift Locality to 7, and confirm it with a scoring run.** A run reading 7.0 or above also
       retires the #30 decision. The sub-items are what the 2026-09-28 run named, most seats first.
-- [ ] **Give the held-message flow one place a reader can follow it.** Whether a drain still waits
-      on a message is spread over `emitSms()`, `MessageHold`, the session's rejection route and
-      `Sms.isHeld()`. Four seats.
 - [ ] **Shrink the `IncomingDeps` closure bag.** 16 lambdas, six of them repeated in
       `SmsHandlers`, which makes every inbound call path indirect. Two seats.