Lung cancer remains the leading cause of cancer death in the United States. Screening with low-dose computed tomography (LDCT) has been proven to aid in early detection of lung cancer and reduce disease specific mortality. In 2014, the American College of Radiology (ACR) released version 1.0 of the Lung CT Screening Reporting and Data System (Lung-RADS) as a quality tool to standardize the reporting of lung cancer screening LDCT. In 2019, 5 years after the implementation of Lung-RADS version 1.0 the ACR released the updated Lung-RADS version 1.1 which incorporates initial experience with lung cancer screening. In this review, we outline the implications of the changes and additions in Lung-RADS version 1.1 and examine relevant literature for many of the updates. We also highlight several challenges and opportunities as Lung-RADS version 1.1 is implemented in lung cancer screening programs.