The trainer learned his fate yesterday when the Irish Horseracing Regulatory Board ruled on the case.
At the conclusion of a lengthy investigation in December, 10 of the 11 charges against McNally were proven.
One of them was running and training his horses in a manner "prejudicial to the integrity, proper conduct and good reputation of horseracing."
McNally was also found to have conspired with fellow trainer David Dunne to conceal the ownership of two horses, Full Noise and All Class.
Fined £4,400, Dunne must return prize money from 36 races in which the horses ran during that period.
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