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An example of a nonfinitely based involution monoid of order five has recently been discovered. We confirm that this example is, up to isomorphism, the unique smallest among all involution monoids. [ABSTRACT FROM AUTHOR]

Let M n be the variety generated by all monoids of order n. It was known that M n is finitely based if n ⩽ 4 and non-finitely based if n ⩾ 6. However, the finite basis problem for M 5 remained open. In this paper, we show that the variety M 5 is finitely based by giving a finite identity basis. Therefore, M n is finitely based if and only if n ⩽ 5. [ABSTRACT FROM AUTHOR]