Formset created with inlineformset_factory doesn't render labels on page

I've got a formset:

I've got a formset:

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FormSet = inlineformset_factory(
    User, Profile,
    fields=('mychoice',),
    widgets={
        'mychoice': Select(choices=CHOICES)
    },
    labels={
        'mychoice': _('mychoices:')
    }
)

Instantiated in class based DetailView:

class ProfileDisplay(DetailView):
    template_name = 'profile.html'
    model = User

    def get(self, request, *args, **kwargs):
        form = self.get_form()
        profile_form = ProfileFormSet(instance=self.request.user)
        return self.render_to_response(
            self.get_context_data(form=form, profile_form=profile_form)
        )

and shown in a template like:

<form method="POST" action=".">
    <fieldset class="profile">
        {{ profile_form.management_form }}
        {% for form in profile_form %}
            {% for field in form %}
                {{ field }}
                {{ field.label_tag }}
            {% endfor %}
        {% endfor %}
    </fieldset>
</form>    

The problem is that label is not shown on the page, I'm getting only:

<select name="profile-0-mychoice" id="id_profile-0-mychoice">
<option value="True" selected>mychoice true</option>
<option value="False">mychoice false</option>
</select>

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