diff --git a/changelog/4917.bugfix.rst b/changelog/4917.bugfix.rst
new file mode 100644
index 000000000000..49a14cbf1e4d
--- /dev/null
+++ b/changelog/4917.bugfix.rst
@@ -0,0 +1,2 @@
+When loading models from S3, namespaces (folders within a bucket) are now respected. 
+Previously, this would result in an error upon loading the model. 
diff --git a/rasa/nlu/persistor.py b/rasa/nlu/persistor.py
index b9fc28540f73..43fdefc7178d 100644
--- a/rasa/nlu/persistor.py
+++ b/rasa/nlu/persistor.py
@@ -53,7 +53,7 @@ def retrieve(self, model_name: Text, target_path: Text) -> None:
             tar_name = self._tar_name(model_name)
 
         self._retrieve_tar(tar_name)
-        self._decompress(tar_name, target_path)
+        self._decompress(os.path.basename(tar_name), target_path)
 
     def list_models(self) -> List[Text]:
         """Lists all the trained models."""
@@ -151,11 +151,11 @@ def _persist_tar(self, file_key: Text, tar_path: Text) -> None:
         with open(tar_path, "rb") as f:
             self.s3.Object(self.bucket_name, file_key).put(Body=f)
 
-    def _retrieve_tar(self, target_filename: Text) -> None:
+    def _retrieve_tar(self, model_path: Text) -> None:
         """Downloads a model that has previously been persisted to s3."""
-
-        with open(target_filename, "wb") as f:
-            self.bucket.download_fileobj(target_filename, f)
+        tar_name = os.path.basename(model_path)
+        with open(tar_name, "wb") as f:
+            self.bucket.download_fileobj(model_path, f)
 
 
 class GCSPersistor(Persistor):
diff --git a/tests/nlu/base/test_persistor.py b/tests/nlu/base/test_persistor.py
index e212130c5a40..8371060a37bd 100644
--- a/tests/nlu/base/test_persistor.py
+++ b/tests/nlu/base/test_persistor.py
@@ -47,6 +47,33 @@ def test_list_models_method_raise_exeception_in_AWSPersistor():
     assert result == []
 
 
+# noinspection PyPep8Naming
+@mock_s3
+def test_retrieve_tar_archive_with_s3_namespace():
+    model = "/my/s3/project/model.tar.gz"
+    destination = "dst"
+    with patch.object(persistor.AWSPersistor, "_decompress") as decompress:
+        with patch.object(persistor.AWSPersistor, "_retrieve_tar") as retrieve:
+            persistor.AWSPersistor("rasa-test").retrieve(model, destination)
+        decompress.assert_called_once_with("model.tar.gz", destination)
+        retrieve.assert_called_once_with(model)
+
+
+# noinspection PyPep8Naming
+@mock_s3
+def test_s3_private_retrieve_tar():
+    # Ensure the S3 persistor writes to a filename `model.tar.gz`, whilst
+    # passing the fully namespaced path to boto3
+    model = "/my/s3/project/model.tar.gz"
+    awsPersistor = persistor.AWSPersistor("rasa-test")
+    with patch.object(awsPersistor.bucket, "download_fileobj") as download_fileobj:
+        # noinspection PyProtectedMember
+        awsPersistor._retrieve_tar(model)
+    retrieveArgs = download_fileobj.call_args[0]
+    assert retrieveArgs[0] == model
+    assert retrieveArgs[1].name == "model.tar.gz"
+
+
 # noinspection PyPep8Naming
 def test_list_models_method_in_GCSPersistor():
     # noinspection PyUnusedLocal