The Flexible Image Transport System -FITS -has been in use in the astronomical community for over two decades. A newly updated version of the standard has recently been approved by the International Astronomical Union FITS Working Group. This new version of the standard appears here in its entirety. As a preface we briefly describe the process by which the standard evolves and revisions are approved, and note two minor changes to NOST 100-2.0 which were adopted by the IAU FWG.