First is to go to your AWS account and setup a new bucket for data archive.

once done. Follow the steps bellow to give the correct permissions to the bucket.

3.Go to Service -> Storage -> S3

4. Select your desired S3 Bucket from the buckets lists.

5. Navigate to permissions tab.

6. Under 'Access for other AWS accounts' click 'Add account'

7. Insert Coralogix id: fa35ef450b07d311b09810445df9c1c4a316118d1899e4cd3db935414e4ba62d

8. Check the 'Write objects' check box - to give Coralogix write objects permissions.

9. Under Permissions –> ‘Block public access’ click on Edit:

Uncheck ‘Block all public access’ –>  Check bottom three options and leave only “Block public access to buckets and objects granted through new access control lists (ACLs)” unchecked. 

10. Click 'Save'

11. In Coralogix, Check “Activate archiving storage”.

12. Add your Region (not region name) and bucket name in Coralogix

13. Click "Save" in Coralogix.  

In Coralogix UI under TCO select Archive.

put the Region and the bucket name you have configured in the top section.

Also don't forget to select Activate Archiving Storage and All done.