diff --git a/lisp/emacs-lisp/bytecomp.el b/lisp/emacs-lisp/bytecomp.el
index 64a57948017..659d698b603 100644
--- a/lisp/emacs-lisp/bytecomp.el
+++ b/lisp/emacs-lisp/bytecomp.el
@@ -3082,6 +3082,14 @@ If FORM is a lambda or a macro, byte-compile it as a function."
 	       (byte-compile-warn-x
                 arg "repeated variable %s in lambda-list" arg))
 	      (t
+	       (when (and lexical-binding
+	                  (cconv--not-lexical-var-p
+	                   arg byte-compile-bound-variables)
+	                  (byte-compile-warning-enabled-p 'lexical arg))
+	         (byte-compile-warn-x
+	          arg
+	          "Lexical argument shadows the dynamic variable %S"
+	          arg))
 	       (push arg vars))))
       (setq list (cdr list)))))
 
diff --git a/lisp/emacs-lisp/cconv.el b/lisp/emacs-lisp/cconv.el
index 601e2c13d61..3e75020a013 100644
--- a/lisp/emacs-lisp/cconv.el
+++ b/lisp/emacs-lisp/cconv.el
@@ -682,11 +682,6 @@ FORM is the parent form that binds this var."
     (when lexical-binding
       (dolist (arg args)
         (cond
-         ((cconv--not-lexical-var-p arg cconv--dynbound-variables)
-          (byte-compile-warn-x
-           arg
-           "Lexical argument shadows the dynamic variable %S"
-           arg))
          ((eq ?& (aref (symbol-name arg) 0)) nil) ;Ignore &rest, &optional, ...
          (t (let ((varstruct (list arg nil nil nil nil)))
               (cl-pushnew arg byte-compile-lexical-variables)