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Collins, 24, served a four-game suspension last season for his first offense. The league did not divulge details of Collins' latest violation.
"We are extremely disappointed that for the second straight season we are dealing with a suspension for Jalen," Falcons general manager Thomas Dimitroff said in a statement. "Such are the consequences when certain choices are made. Our decisions going forward will be based on what (coach) Dan (Quinn) and I feel is best for the team."
Collins is allowed to participate in practice and pre-season games during his suspension, which starts at the beginning of the regular season.
Collins was projected to be a starter this season after filling in for injured star Desmond Trufant last season.
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He started in Atlanta's Super Bowl loss to the New England Patriots in February.
Collins, who had two interceptions last season, is eligible to return to the Falcons' active roster on November 21.