This study provides both a structural analysis of the Historical-Clinical-Risk Management–20 (HCR-20) Version 3 and an examination of the correspondence between the HCR-20 Versions 2 and 3. HCR-20 Versions 2 and 3 risk ratings were completed for 64 psychiatric inpatients. Moderate to good interrater reliability was observed for the Version 3 subscales and summary risk ratings. Subscale scores and summary risk ratings on the Version 2 were significantly correlated with the corresponding scales and indices on the Version 3, although correlations were stronger when ratings were completed by the same rater as opposed to different raters. Version 3 items corresponding to Violence, Violent Attitudes, Violent Ideation or Intent, and Insight were the strongest predictors of the summary risk ratings, although some differences emerged when risk factor presence ratings were weighted by relevance ratings. The implications of these findings for risk assessment practice are discussed.