The charge specifically relates to the renegotiation of the former Wales international's contract with Blackburn in January 2007.
It is alleged that there was no written representation contract in place between the player and the agent when the renegotiation took place.
Urquhart has also been charged in relation to Savage's transfer to Derby a year later.
It is alleged that Urquhart acted for the Rams in that move when he had also represented Savage in the previous deal with Blackburn, which is contrary to FA regulations.
A Derby spokesman said: "We are aware of the charge and Robbie Savage will be dealing with it on an individual basis through the correct and proper channels. The club will offer him any support that he needs, should he ask for it."
Savage and Urquhart have 14 days to respond to the charges.