diff --git a/django_pydantic_field/v2/forms.py b/django_pydantic_field/v2/forms.py
index 4f12c1a..2ebef81 100644
--- a/django_pydantic_field/v2/forms.py
+++ b/django_pydantic_field/v2/forms.py
@@ -80,6 +80,9 @@ def to_python(self, value: ty.Any) -> ty.Any:
         return value
 
     def prepare_value(self, value):
+        if value is None:
+            return None
+
         if isinstance(value, InvalidJSONInput):
             return value
 
diff --git a/tests/v2/test_forms.py b/tests/v2/test_forms.py
index 64b1b33..ea1965e 100644
--- a/tests/v2/test_forms.py
+++ b/tests/v2/test_forms.py
@@ -9,7 +9,7 @@
 from django.forms import Form, modelform_factory
 
 from tests.conftest import InnerSchema
-from tests.test_app.models import SampleForwardRefModel, SampleSchema
+from tests.test_app.models import SampleForwardRefModel, SampleSchema, ExampleSchema
 
 fields = pytest.importorskip("django_pydantic_field.v2.fields")
 forms = pytest.importorskip("django_pydantic_field.v2.forms")
@@ -19,6 +19,10 @@ class SampleForm(Form):
     field = forms.SchemaField(ty.ForwardRef("SampleSchema"))
 
 
+class NoDefaultForm(Form):
+    field = forms.SchemaField(schema=ExampleSchema)
+
+
 @pytest.mark.parametrize(
     "raw_data, clean_data",
     [
@@ -153,3 +157,8 @@ def test_annotated_acceptance():
     field = forms.SchemaField(te.Annotated[InnerSchema, pydantic.Field(title="Inner Schema")])
     value = InnerSchema.model_validate({"stub_str": "abc", "stub_list": ["1970-01-01"]})
     assert field.prepare_value(value)
+
+
+def test_form_render_without_default():
+    form = NoDefaultForm()
+    form.as_p()