Replacing Carrier Comfort Source with Honeywell Lyric

[wschooley]

My existing heat pump thermostat is a carrier comfort choice, model TP-PHP01. The attached image is of the I/O panel mounted to the air handler. The red and black V+ and Vg wires go to a display/ sensor in the hallway. I want to replace this thermostat with a Honeywell Lyric. The question is do I still need the I/O panel or does the Lyric replace both pieces of the thermostat? Or do I connect the Lyric to the 6 matching color wires that plug into the I/O panel?

Thanks,
Will

[Thermostat]

The question is do I still need the I/O panel or does the Lyric replace both pieces of the thermostat? Or do I connect the Lyric to the 6 matching color wires that plug into the I/O panel?

The Lyric would replace both pieces