Iron nitride thin films of different compositions and thicknesses were deposited on flexible polymer substrate in Ar/N2 atmosphere by reactive magnetron sputtering under varying nitrogen flow rates. The nano structured films were characterized by X-ray diffraction, UV–visible spectrophotometer, electrochemical impedance (EIS), atomic force (AFM) and transmission electron microscopies. The dependence of their functional properties on coating and growth conditions was studied in detail. It was found that the thin films show a uniform permeability in the frequency range of 200MHz to 1Ghz and can be used in this range without appreciable changes. Decrease of nitrogen flow rate resulted in the smoother surfaces which in turn increase transmittance quality and corrosion resistance. Functional properties are dependent of nature, relative concentration of the iron nitride phases and film thickness. Surface integrity is excellent for180 nm thick sample because the films appear to be very dense and free from open pores. By keeping sputtering power stable at 110W, nitrogen flow rate of 10 sccm was ideal to develop the ferromagnetic γʹFe4N phase at room temperature.