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Lifecycle policies are based on the object's age. A Lifecycle policy will evaluate the object's LastModifiedDate to determine the object's age. However, Lifecycle policies are not immediate. When you configure and apply an Object Lifecycle Rule to your bucket, S3 will not immediately remove these objects. When an object reaches the end of its lifetime, Amazon S3 queues it for transition and transitions the object asynchronously. Typically, S3 will run the lifecycle rule the following day at 0:00 UTC.
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S3 will evaluate the object's LastModifiedDate to determine how old the object is. If the object's LastModifiedDate is older than 30 days, you will not be charged an early conversion fee.
answered a year ago
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Quick question: Are your objects larger than 128K ?