It has dropped Schumacher out of the points from sixth place to 12th.
Mercedes said in a statement that they weren't happy with the penalty but have accepted it.
“It was clear from our discussions with the race stewards after the race that they understood the reasons as to why we had given Michael Schumacher the green light but that ultimately they did not agree with it,” said Mercedes in a statement.
“Even if we are not happy with the result, we are happy that the FIA have accepted our reasons behind the move.
“But for the good of the sport the Mercedes stable will not appeal the decision.”