The highly rated defender, who has represented England at U18, U19 and U20 level, has also been warned over his future conduct after the Toffees tried to sign him in 2010
The highly rated defender was under a scholarship scheme at the City Ground when Everton, then managed by current Manchester United boss David Moyes, made their approach.
Andy Niedzwiecki, Lascelles' agent at the time, has been fined £10,000 and warned over his future conduct for his role in the issue.
Lascelles himself has also been "severely warned" over his conduct, according to an FA statement.
The 20-year-old could be on the verge of a move to the Premier League this January after Forest told suitors they will accept bids of £3 million.
Arsenal have sent chief scout Steve Rowley to run the rule over the youngster, but any transfer would be dependent on loaning him back to the Championship club for the remainder of the current season.