The 25-year-old track cyclist, who represented Australia with three gold at the Olympics in Paris, declared last week on Instagram that he was switching allegiances.
Cyclists who move nationalities are ineligible to compete in the World and Continental Championships that follow the date of the switch, according to Union Cycliste Internationale (UCI) regulations.
However, Richardson will be subject to a two-year non-competition term, according to AusCycling.
“We are confident the UCI will enforce [the two-year non-competition period] as per UCI regulations,” stated AusCycling.
Two-time Commonwealth Games champion Richardson was born in Kent but later relocated to it.
He said that he had made the decision to “push himself to new heights” by joining Team GB, calling it a “difficult decision”.
The executive general manager of performance at AusCycling, Jesse Korf, stated that there was “disappointment around the decision and process.”