If desired, remove skin from the chicken. Leaving the skin on provides more collagen to the final broth, but will make it more oily and tends to make the broth cloudier. I do both, depending on what I'm going to use the broth for, but I default to skin-off.

Set your InstantPot to saute and wait until display reads "Hot." Heat oil for 30 seconds. Saute onions, carrots, and celery until beginning to soften and brown. Be careful not to burn as the InstantPot gets very hot very quickly!

Place whole chicken on top of sauteed veggies. Sprinkle salt over chicken (I use about 1 tablespoon, but if you wish your broth to be low-sodium, use less.) Add peppercorns, bay leaves, and water. Turn off InstantPot to clear saute function, then select Manual High Pressure for 20 minutes. Close and seat lid, being sure to set the vent lever to closed.

When your IP is done cooking, carefully release pressure. Remove chicken from pot and remove all meat from the bones. (I've found it's faster and easier to shred the chicken directly off the bone.) Return the chicken bones to the pot. Set on Manual High Pressure for 45 minutes. This will continue to enrich and deepen the chicken flavor of the broth.

When broth is finished cooking, you may either release pressure manually or naturally. Place a fine-mesh sieve or a cheesecloth-lined strainer over a large bowl. Remove chicken bones and throw away, then pour the broth through the sieve to remove vegetables and spices. Refrigerate broth for 8 hours or overnight, then skim hardened fat from the surface. Keep refrigerated and use within 3 days or transfer to freezer-safe containers and freeze for later use.