The species was first described by Matt von Konrat, Jörn Hentschel, Jochen Heinrichs and John E. Braggins in 2011, and is native to New Zealand.

[1] The epithet truncatistyla was chosen by researchers to describe the truncate stylus of the species, likely a unique feature of this liverwort within the Frullania genus.

[2] Frullania truncatistyla is a particularly small species of liverwort, growing up to a width of 500 μm (0.020 in).

[2] The species forms patches of varying colours, from olive-green, copper-brown to black.

[2] The holotype of the species was found the bark of a rimu tree in a poorly drained mossy forest.