diff --git a/fs/netfs/buffered_read.c b/fs/netfs/buffered_read.c
index a8c0d86118c5..a27ed501b6d4 100644
--- a/fs/netfs/buffered_read.c
+++ b/fs/netfs/buffered_read.c
@@ -156,9 +156,8 @@ static void netfs_read_cache_to_pagecache(struct netfs_io_request *rreq,
 			netfs_cache_read_terminated, subreq);
 }
 
-static void netfs_queue_read(struct netfs_io_request *rreq,
-			     struct netfs_io_subrequest *subreq,
-			     bool last_subreq)
+void netfs_queue_read(struct netfs_io_request *rreq,
+		      struct netfs_io_subrequest *subreq)
 {
 	struct netfs_io_stream *stream = &rreq->io_streams[0];
 
@@ -178,11 +177,6 @@ static void netfs_queue_read(struct netfs_io_request *rreq,
 		}
 	}
 
-	if (last_subreq) {
-		smp_wmb(); /* Write lists before ALL_QUEUED. */
-		set_bit(NETFS_RREQ_ALL_QUEUED, &rreq->flags);
-	}
-
 	spin_unlock(&rreq->lock);
 }
 
@@ -233,6 +227,8 @@ static void netfs_read_to_pagecache(struct netfs_io_request *rreq,
 		subreq->start	= start;
 		subreq->len	= size;
 
+		netfs_queue_read(rreq, subreq);
+
 		source = netfs_cache_prepare_read(rreq, subreq, rreq->i_size);
 		subreq->source = source;
 		if (source == NETFS_DOWNLOAD_FROM_SERVER) {
@@ -253,6 +249,7 @@ static void netfs_read_to_pagecache(struct netfs_io_request *rreq,
 				       rreq->debug_id, subreq->debug_index,
 				       subreq->len, size,
 				       subreq->start, ictx->zero_point, rreq->i_size);
+				netfs_cancel_read(subreq, ret);
 				break;
 			}
 			subreq->len = len;
@@ -261,12 +258,7 @@ static void netfs_read_to_pagecache(struct netfs_io_request *rreq,
 			if (rreq->netfs_ops->prepare_read) {
 				ret = rreq->netfs_ops->prepare_read(subreq);
 				if (ret < 0) {
-					subreq->error = ret;
-					/* Not queued - release both refs. */
-					netfs_put_subrequest(subreq,
-							     netfs_sreq_trace_put_cancel);
-					netfs_put_subrequest(subreq,
-							     netfs_sreq_trace_put_cancel);
+					netfs_cancel_read(subreq, ret);
 					break;
 				}
 				trace_netfs_sreq(subreq, netfs_sreq_trace_prepare);
@@ -289,23 +281,23 @@ static void netfs_read_to_pagecache(struct netfs_io_request *rreq,
 
 		pr_err("Unexpected read source %u\n", source);
 		WARN_ON_ONCE(1);
+		netfs_cancel_read(subreq, ret);
 		break;
 
 	issue:
 		slice = netfs_prepare_read_iterator(subreq, ractl);
 		if (slice < 0) {
 			ret = slice;
-			subreq->error = ret;
-			trace_netfs_sreq(subreq, netfs_sreq_trace_cancel);
-			/* Not queued - release both refs. */
-			netfs_put_subrequest(subreq, netfs_sreq_trace_put_cancel);
-			netfs_put_subrequest(subreq, netfs_sreq_trace_put_cancel);
+			netfs_cancel_read(subreq, ret);
 			break;
 		}
-		size -= slice;
 		start += slice;
+		size -= slice;
+		if (size <= 0) {
+			smp_wmb(); /* Write lists before ALL_QUEUED. */
+			set_bit(NETFS_RREQ_ALL_QUEUED, &rreq->flags);
+		}
 
-		netfs_queue_read(rreq, subreq, size <= 0);
 		netfs_issue_read(rreq, subreq);
 		cond_resched();
 	} while (size > 0);
diff --git a/fs/netfs/direct_read.c b/fs/netfs/direct_read.c
index f72e6da88cca..6a8fb0d55e04 100644
--- a/fs/netfs/direct_read.c
+++ b/fs/netfs/direct_read.c
@@ -45,12 +45,11 @@ static void netfs_prepare_dio_read_iterator(struct netfs_io_subrequest *subreq)
  * Perform a read to a buffer from the server, slicing up the region to be read
  * according to the network rsize.
  */
-static int netfs_dispatch_unbuffered_reads(struct netfs_io_request *rreq)
+static void netfs_dispatch_unbuffered_reads(struct netfs_io_request *rreq)
 {
-	struct netfs_io_stream *stream = &rreq->io_streams[0];
 	unsigned long long start = rreq->start;
 	ssize_t size = rreq->len;
-	int ret = 0;
+	int ret;
 
 	do {
 		struct netfs_io_subrequest *subreq;
@@ -58,7 +57,10 @@ static int netfs_dispatch_unbuffered_reads(struct netfs_io_request *rreq)
 
 		subreq = netfs_alloc_subrequest(rreq);
 		if (!subreq) {
-			ret = -ENOMEM;
+			/* Stash the error in the request if there's not
+			 * already an error set.
+			 */
+			cmpxchg(&rreq->error, 0, -ENOMEM);
 			break;
 		}
 
@@ -66,25 +68,13 @@ static int netfs_dispatch_unbuffered_reads(struct netfs_io_request *rreq)
 		subreq->start	= start;
 		subreq->len	= size;
 
-		__set_bit(NETFS_SREQ_IN_PROGRESS, &subreq->flags);
-
-		spin_lock(&rreq->lock);
-		list_add_tail(&subreq->rreq_link, &stream->subrequests);
-		if (list_is_first(&subreq->rreq_link, &stream->subrequests)) {
-			if (!stream->active) {
-				stream->collected_to = subreq->start;
-				/* Store list pointers before active flag */
-				smp_store_release(&stream->active, true);
-			}
-		}
-		trace_netfs_sreq(subreq, netfs_sreq_trace_added);
-		spin_unlock(&rreq->lock);
+		netfs_queue_read(rreq, subreq);
 
 		netfs_stat(&netfs_n_rh_download);
 		if (rreq->netfs_ops->prepare_read) {
 			ret = rreq->netfs_ops->prepare_read(subreq);
 			if (ret < 0) {
-				netfs_put_subrequest(subreq, netfs_sreq_trace_put_cancel);
+				netfs_cancel_read(subreq, ret);
 				break;
 			}
 		}
@@ -113,8 +103,6 @@ static int netfs_dispatch_unbuffered_reads(struct netfs_io_request *rreq)
 		set_bit(NETFS_RREQ_ALL_QUEUED, &rreq->flags);
 		netfs_wake_collector(rreq);
 	}
-
-	return ret;
 }
 
 /*
@@ -137,21 +125,17 @@ static ssize_t netfs_unbuffered_read(struct netfs_io_request *rreq, bool sync)
 	// TODO: Use bounce buffer if requested
 
 	inode_dio_begin(rreq->inode);
+	netfs_dispatch_unbuffered_reads(rreq);
 
-	ret = netfs_dispatch_unbuffered_reads(rreq);
-
-	if (!rreq->submitted) {
-		netfs_put_request(rreq, netfs_rreq_trace_put_no_submit);
-		inode_dio_end(rreq->inode);
-		ret = 0;
-		goto out;
-	}
+	/* The collector will get run, even if we don't manage to submit any
+	 * subreqs, so we shouldn't call inode_dio_end() here.
+	 */
 
 	if (sync)
 		ret = netfs_wait_for_read(rreq);
 	else
 		ret = -EIOCBQUEUED;
-out:
+
 	_leave(" = %zd", ret);
 	return ret;
 }
diff --git a/fs/netfs/internal.h b/fs/netfs/internal.h
index d436e20d3418..645996ecfc80 100644
--- a/fs/netfs/internal.h
+++ b/fs/netfs/internal.h
@@ -23,6 +23,8 @@
 /*
  * buffered_read.c
  */
+void netfs_queue_read(struct netfs_io_request *rreq,
+		      struct netfs_io_subrequest *subreq);
 void netfs_cache_read_terminated(void *priv, ssize_t transferred_or_error);
 int netfs_prefetch_for_write(struct file *file, struct folio *folio,
 			     size_t offset, size_t len);
@@ -108,6 +110,7 @@ static inline void netfs_see_subrequest(struct netfs_io_subrequest *subreq,
  */
 bool netfs_read_collection(struct netfs_io_request *rreq);
 void netfs_read_collection_worker(struct work_struct *work);
+void netfs_cancel_read(struct netfs_io_subrequest *subreq, int error);
 void netfs_cache_read_terminated(void *priv, ssize_t transferred_or_error);
 
 /*
diff --git a/fs/netfs/read_collect.c b/fs/netfs/read_collect.c
index e5f6665b3341..d2d902f46627 100644
--- a/fs/netfs/read_collect.c
+++ b/fs/netfs/read_collect.c
@@ -575,6 +575,17 @@ void netfs_read_subreq_terminated(struct netfs_io_subrequest *subreq)
 }
 EXPORT_SYMBOL(netfs_read_subreq_terminated);
 
+/*
+ * Cancel a read subrequest due to preparation failure.
+ */
+void netfs_cancel_read(struct netfs_io_subrequest *subreq, int error)
+{
+	trace_netfs_sreq(subreq, netfs_sreq_trace_cancel);
+	subreq->error = error;
+	__set_bit(NETFS_SREQ_FAILED, &subreq->flags);
+	netfs_read_subreq_terminated(subreq);
+}
+
 /*
  * Handle termination of a read from the cache.
  */
diff --git a/fs/netfs/read_single.c b/fs/netfs/read_single.c
index d0e23bc42445..8833550d2eb6 100644
--- a/fs/netfs/read_single.c
+++ b/fs/netfs/read_single.c
@@ -89,7 +89,6 @@ static void netfs_single_read_cache(struct netfs_io_request *rreq,
  */
 static int netfs_single_dispatch_read(struct netfs_io_request *rreq)
 {
-	struct netfs_io_stream *stream = &rreq->io_streams[0];
 	struct netfs_io_subrequest *subreq;
 	int ret = 0;
 
@@ -102,14 +101,7 @@ static int netfs_single_dispatch_read(struct netfs_io_request *rreq)
 	subreq->len	= rreq->len;
 	subreq->io_iter	= rreq->buffer.iter;
 
-	__set_bit(NETFS_SREQ_IN_PROGRESS, &subreq->flags);
-
-	spin_lock(&rreq->lock);
-	list_add_tail(&subreq->rreq_link, &stream->subrequests);
-	trace_netfs_sreq(subreq, netfs_sreq_trace_added);
-	/* Store list pointers before active flag */
-	smp_store_release(&stream->active, true);
-	spin_unlock(&rreq->lock);
+	netfs_queue_read(rreq, subreq);
 
 	netfs_single_cache_prepare_read(rreq, subreq);
 	switch (subreq->source) {
@@ -121,10 +113,14 @@ static int netfs_single_dispatch_read(struct netfs_io_request *rreq)
 				goto cancel;
 		}
 
+		smp_wmb(); /* Write lists before ALL_QUEUED. */
+		set_bit(NETFS_RREQ_ALL_QUEUED, &rreq->flags);
 		rreq->netfs_ops->issue_read(subreq);
 		rreq->submitted += subreq->len;
 		break;
 	case NETFS_READ_FROM_CACHE:
+		smp_wmb(); /* Write lists before ALL_QUEUED. */
+		set_bit(NETFS_RREQ_ALL_QUEUED, &rreq->flags);
 		trace_netfs_sreq(subreq, netfs_sreq_trace_submit);
 		netfs_single_read_cache(rreq, subreq);
 		rreq->submitted += subreq->len;
@@ -134,14 +130,15 @@ static int netfs_single_dispatch_read(struct netfs_io_request *rreq)
 		pr_warn("Unexpected single-read source %u\n", subreq->source);
 		WARN_ON_ONCE(true);
 		ret = -EIO;
-		break;
+		goto cancel;
 	}
 
-	smp_wmb(); /* Write lists before ALL_QUEUED. */
-	set_bit(NETFS_RREQ_ALL_QUEUED, &rreq->flags);
 	return ret;
 cancel:
-	netfs_put_subrequest(subreq, netfs_sreq_trace_put_cancel);
+	netfs_cancel_read(subreq, ret);
+	smp_wmb(); /* Write lists before ALL_QUEUED. */
+	set_bit(NETFS_RREQ_ALL_QUEUED, &rreq->flags);
+	netfs_wake_collector(rreq);
 	return ret;
 }