CFST and CFST I

Supplement dated March 15, 2023

to the Prospectus, Summary Prospectus and Statement of Additional Information (SAI), each as supplemented (as applicable), of the following Funds (each, a Fund, and collectively, the Funds):

Fund	Prospectus and Summary Prospectus Dated	SAI Dated
Columbia Funds Series Trust
Columbia North Carolina Intermediate Municipal Bond Fund	9/1/2022	3/1/2023
Columbia South Carolina Intermediate Municipal Bond Fund	9/1/2022	3/1/2023
Columbia Virginia Intermediate Municipal Bond Fund	9/1/2022	3/1/2023
Columbia Funds Series Trust I
Columbia Connecticut Intermediate Municipal Bond Fund	3/1/2023	3/1/2023
Columbia U.S. Social Bond Fund	12/1/2022	3/1/2023

The Board of Trustees of the Funds has approved Plans of Liquidation and Termination (the Plans) pursuant to which each Fund will be liquidated and terminated on or about the liquidation dates shown in the table below (the Liquidation Date).

Fund	Liquidation Date
Columbia Connecticut Intermediate Municipal Bond Fund	November 7, 2023
Columbia North Carolina Intermediate Municipal Bond Fund	May 5, 2023
Columbia South Carolina Intermediate Municipal Bond Fund	May 5, 2023
Columbia U.S. Social Bond Fund	August 4, 2023
Columbia Virginia Intermediate Municipal Bond Fund	May 5, 2023

Effective at the open of business on April 14, 2023, the Funds will no longer be open to new investors. Shareholders who opened and funded an account with the Funds prior to the open of business on this date (including accounts once funded that subsequently reached a zero balance) may continue to make additional purchases of Fund shares, including purchases by an existing retirement plan that has a plan-level or omnibus account with the Transfer Agent or other omnibus accounts relating to new or existing participants seeking to invest in the Funds. Effective for any redemption or exchange transaction on or after April 14, 2023, any applicable contingent deferred sales charges will be waived on redemptions and exchanges out of the Funds.

Under the terms of the Plans, it is anticipated that the Funds will be liquidated on or about the Liquidation Date at which time the Funds' shareholders will receive a liquidating distribution by check mailed to the current address of record in an amount equal to the net asset value of their Fund shares. For federal income tax purposes, the liquidation of the Funds will be treated as a redemption of Fund shares and may cause shareholders to recognize a gain or loss and pay taxes if the liquidated shares are held in a taxable account. You should consult with your own tax advisor about the particular tax consequences to you of the Funds' liquidation. Shareholders of the Funds may redeem their investments in the Funds or exchange their Fund shares for shares of another Columbia Fund at any time prior to the Liquidation Date (as described in the next paragraph). If the Fund has not received your redemption request or other instructions prior to the Liquidation Date, your shares will be automatically liquidated on the Liquidation Date.

As of the close of business on the business day preceding the Liquidation Date, the Funds will no longer accept any orders for the purchase of or exchange for shares of the Funds. Orders for the purchase of or exchange for shares of the Funds may, in the Funds' discretion, be rejected prior to the Liquidation Date, including for operational reasons relating to the anticipated liquidation of the Fund.

During the period prior to the Liquidation Date, the Funds' investment manager, Columbia Management Investment Advisers, LLC (the Investment Manager), may depart from the Fund’s stated investment objectives and strategies to reduce the amount of portfolio securities and hold more cash or cash equivalents to liquidate the Funds' assets in a manner that the Investment Manager believes to be in the best interests of the Fund and its shareholders. Shareholders remaining in the Funds may bear increased transaction fees incurred in connection with the disposition of the Funds' portfolio holdings. Any such transaction costs would reduce any distributable net capital gains.

Shareholders who hold their Fund shares through a retirement plan or account (such as a 401(k) plan or individual retirement account) and who receive a distribution of liquidation proceeds will be subject to taxes and, if under 59½ years of age, applicable early withdrawal penalties, unless the distribution proceeds are reinvested as a rollover in an eligible retirement plan or account within 60 days after the proceeds are received. Investors with a Columbia IRA, SEP IRA, SIMPLE IRA, Roth IRA or Coverdell Education Savings Account with UMB Bank as custodian must act on their account(s) prior to the Liquidation Date. These accounts, for those who do not act prior to the Liquidation Date, will be automatically exchanged to a comparable share class of Columbia Government Money Market Fund. Investors choosing to liquidate their retirement account prior to the liquidation date by completing an IRA Distribution Form or calling the Transfer Agent may have the $20 annual participant fee taken from the liquidation proceeds.

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