The incidents occured during Millwall's fixtures at Birmingham in October last year and against Leeds in November and were both part of undercover video footage screened by Sky Sports News in February.
An FA statement read: "The FA notes that following separate police investigations the individuals concerned - both caught on camera - making offensive/racist remarks have since been identified, arrested and charged. Millwall have also imposed club bans for both offenders.
"The FA notes the work the club continues to do in partnership with its local community to educate supporters and help tackle discriminatory language/behavior.
"The FA advises that consideration will be given to taking disciplinary action against (Millwall) if further reports of spectator misconduct are received, however, no charges are to be issued to (the) club in relation to these isolated incidents."