An assembly for a torque-transmitting connection in an inner pipe string of a dual-member drill string is formed from a collar, a retaining ring, and an inner pipe member. An endless internal groove having adjacent shallow and deep sections is formed in the collar. Formed in the inner pipe member, an external grooved region is situated in adjacent relationship with the internal groove. The retaining ring, situated within the grooves, resists disconnection of the collar from the inner pipe member. When the assembly is subjected to an axial force that might otherwise tend to pull it apart, the retaining ring resists the tendency by wedging between the bottom of the shallow section of the internal groove and the crest of the external groove.