IPFA is an independent executive agency under the Public Service Act 1999. For the purposes of the Public Governance, Performance and Accountability Act 2013, IPFA is a non-corporate Commonwealth entity.

At the institutional level, during 2018-19 IPFA was an executive agency within the Infrastructure, Transport, Cities and Regional Development portfolio. On 8 August 2019, through an amendment to the Administrative Arrangements Orders, IPFA transferred to the Treasury Portfolio. IPFA's Chief Executive Officer now reports to the Minister for Population, Cities and Urban Infrastructure, the Hon Alan Tudge MP.