Leaking crankshaft collar

[Caril08]

Howdy y'all, I have recently completed the process of rebuilding my 1986 Honda cr500 engine. I have done pretty well so far up until the point I wasn't able to get the bike running due to it absolutely oil soaking the plug. After alot of procrastinating I did a leak down test and discovered that I am losing pressure into the clutch side of my engine through the little collar that sits on the crankshaft on the clutch side (view picture for exact) but I was curious since the factory manual is not too specific on which way the collar goes so I tried putting it both ways and I'm still getting a leak from there either way I put it. It's not leaking on the outter portion that meets the seal, it leaks heavily from the center that sits on the crankshaft. Am I missing a little seal or o ring that's supposed to close up the opening? Thankyou any advice is helpful!!(In the pictures I didn't push the collar all the way in since i didn't want to struggle tryna get it out with a plier lol)