Powder Bed Fusion‐Laser Beam/Metal (PBF LB/M) additive manufacturing provides a high potential to overcome the poor machinability of nickel‐free high interstitial alloy austenitic (HIA) steels. Therefore, this study focuses on the PBF LB/M processibility of HIA X40MnCrMoN21‐18‐2 and the effect of post‐processing on microstructure and chemical homogeneity. Samples were fabricated on a laboratory and industrial PBF‐LB/M machine and subsequently post‐processed by conventional solution annealing or hot isostatic pressing (HIP). The influence of the processing steps on the microstructure and on the chemical composition was evaluated by scanning electron microscopy, X‐ray diffraction, transmission electron microscopy, atom probe tomography and electron backscatter diffraction. The commercially available HIA powder exerts good processability, both by optimized and pre‐defined PBF LB/M parameters. Loss of Mn and N was detected after PBF‐LB/M processing. Chemical homogenization but no further change in composition occurred during post‐processing. The as‐built microstructure showed segregation of elements (N, Mo, Cr, Mn) in intercellular spaces. A thermodynamic calculation confirmed that N approaches a para‐equilibrium state in the PBF‐LB/M as‐built condition, while C does not. Porosity could be reduced by thermomechanical post‐treatment with HIP. At the same time, HIP partially recrystallized the microstructure, while (Mn+Cr)2SiO4 type oxides delayed recovery and recrystallization of the microstructure.This article is protected by copyright. All rights reserved.