Talib, a key member of the Broncos defense in their Super Bowl-winning 2015-2016 campaign, suffered minor injuries in the shooting incident.
The 31-year-old, who was not charged with any crime by police, risked a fine or suspension under the NFL's strict personal conduct rules.
However the league informed Talib on Monday that while his behavior was deemed detrimental to the league, he would not face punishment.
Instead the NFL urged him to take steps to ensure there was no repeat according to a letter quoted by the ESPN network.
"While there are no allegations that the firearm with which you injured yourself on June 5, 2016 was unlawfully possessed under current Texas law, it is critical that you understand that the decision to own a firearm brings with it the obligation to possess and maintain it responsibly, safely and legally," the letter said.
ESPN reported that Talib was also asked to provide the NFL with a list of all firearms he owns along with documentation to show he possessed them legally.
Talib was treated for injuries following the shooting in Dallas last June.
He initially told police he believed he had been attacked by an unknown assailant.
However he later acknowledged he had shot himself accidentally.
Talib is one of the best cornerbacks in the NFL, recording three interceptions and 43 tackles last season. He is midway through a six-year, $57 million contract with the Broncos.