Magnussen attempted an overtake on Perez during the opening lap in Monaco, heading up the hill after Turn 1, but quickly met the wall causing a collision.
His team-mate Nico Hülkenberg was caught up as collateral damage of the incident, completing a double DNF for the Haas team.
Who was at fault for the incident?
Speaking to Sky Sports after the race Magnussen blamed Perez for the incident stating that the Mexican driver ‘squeezed him to the wall’.
"I trusted he was going to leave space for me since I was there. It's not a corner where you're braking into it, it's a bend on the straight so you have to have a car otherwise you leave the other guy no option,” he said.
"From my point of view, I was there and I got squeezed to the wall."
Following the crash, the stewards announced there would be no further investigation into the crash.
The Dane currently sits on 10 penalty points, and a further two would have resulted in a race ban.
Magnussen was also supported by an unlikely source, with Jeremy Clarkson taking to social media after the incident to express his support for the Haas driver.
“That wasn’t K Mag’s fault in my opinion,” Clarkson wrote.
Regardless of who was responsible, the Haas team will be unhappy with the damage to the team, already suffering after their disqualification from qualifying on Saturday.