Hipposideros corynophyllus is represented by almost 30 specimens in museum collections (Natural History Museum, London, Australian Museum, South Australian Museum) from around Tifalmin and Telefomin in Sandaun (West Sepik) Province, with the most recent collection almost 30 years ago. Echolocation calls attributable to this species have been recorded in the past five years from multiple localities both south and north of Telefomin, but not a significant distance east of this area (K.N. Armstrong and K.P. Aplin unpublished data; Armstrong and Aplin 2014). It has also been collected in the Tembagapura area of Papua Province, Indonesia and a wider presence throughout the central cordillera was suggested on the basis of this capture record (Helgen 2007). The altitudinal range appears to large, with collections from the Telefomin area up to 1,800 m Asl, acoustic records close to sea level and the Tembagapura record as high as 2,700 m.

A suitable conservation measure for this species would be the protection of the known roosting sites. Further studies into the distribution, ecology, and threats to this species are needed.