IIS not connecting to remote databases

System.ComponentModel.Win32Exception: The network path was not found

This is the error I am getting trying to visit my AWS deployed ASP MVC website. The connection string works with another shared host that I use, so I have a strong feeling that something within my AWS instance of SQL Server 2012 is blocking the connection.

I am new to AWS and IIS. Is there any sort of firewall that I need to be opening up?