Coleraine have lost their appeal over the Ruairi Harkin eligibility case.
Harkin featured in the Bannsiders’ 4-0 win over Institute on November 1 when he should have been serving a one-match ban.
Coleraine had disputed that they were not notified of when the suspension was due to take effect.
But after losing their appeal on Wednesday evening the club have accepted a three-point deduction and £350 fine.
Institute were also fined £500 after playing goalkeeper Eugene Ferry – who was on-loan from Coleraine - in the game. On-loan players are not permitted to play against their parent clubs in the Premiership.
In a statement, Coleraine said: “Coleraine Football Club acknowledges an error in the club’s internal processes which was contributory to the punishment being applied. Additional processes have now been implemented by the club which will address this error.
“Coleraine Football Club wishes to thank the IFA Appeals Board for their due consideration and comments at the hearing.
“During the appeal hearing Coleraine Football Club highlighted a number of errors and inconsistencies on the part of the IFA. Coleraine Football Club contends that these errors and inconsistencies also contributed to confusion surrounding the issue.
“Coleraine Football Club would now urge the governing body to address these issues in order to minimize similar problems in the future.”