ASIO's Annual Report is structured to comply with the updated Requirements for Departmental Annual Reports issued by the Department of the Prime Minister and Cabinet. It also addresses specific requirements applying to the annual reports of Australia's intelligence and security agencies.

ASIO produces two versions of its annual report. The first version is classified and contains an account of ASIO's performance during the previous twelve months, including sensitive reporting on security risks and investigative outcomes that cannot be released publicly. That report is provided to the Attorney-General, the Prime Minister, members of the National Security Committee of Cabinet, the Leader of the Opposition, and members of the Secretaries Committee on National Security.

An abridged version is then prepared for tabling in the Parliament, excluding classified information in accordance with section 94 of the ASIO Act.