British billionaire Ratcliffe last week apologised for his choice of language but said it was important to raise the issue of immigration. His initial comments drew a rebuke from Prime Minister Keir Starmer.
"As background guidance, we have issued Sir Jim Ratcliffe with a reminder of his responsibilities as a Participant in English football when taking part in media interviews. We won’t be taking any further action," the FA said in a brief statement.
Ratcliffe, the founder of chemicals giant INEOS, had said in the February 11th interview that high migration and people living on benefits were damaging the economy.
"You can't have an economy with 9 million people on benefits and huge levels of immigrants coming in. I mean, the UK has been colonised - it's costing too much money," Ratcliffe told the broadcaster. "The UK has been colonised by immigrants, really, hasn't it?"
Manchester United manager Michael Carrick avoided wading into the controversy on Friday, instead emphasising the club's proud tradition of equality and global reach.
"Equality, diversity and respect for each other is something we look to carry through every day," Carrick told reporters ahead of a Premier League trip to Everton.
Manchester United, fourth in the league with 45 points in 26 games, will face eighth-placed Everton on Monday, hoping to consolidate a guaranteed Champions League spot with a top-four finish.