Video conferencing has caught much more attention recently. High fidelity and low bandwidth are two major objectives of video compression for video conferencing applications. Most pioneering methods rely on classic video compression codec without high-level feature embedding and thus can not reach the extremely low bandwidth. Recent works instead employ model-based neural compression to acquire ultra-low bitrates using sparse representations of each frame such as facial landmark information, while these approaches can not maintain high fidelity due to 2D image-based warping. In this paper, we propose a novel low bandwidth neural compression approach for high-fidelity portrait video conferencing using implicit radiance fields to achieve both major objectives. We leverage dynamic neural radiance fields to reconstruct high-fidelity talking head with expression features, which are represented as frame substitution for transmission. The overall system employs deep model to encode expression features at the sender and reconstruct portrait at the receiver with volume rendering as decoder for ultra-low bandwidth. In particular, with the characteristic of neural radiance fields based model, our compression approach is resolution-agnostic, which means that the low bandwidth achieved by our approach is independent of video resolution, while maintaining fidelity for higher resolution reconstruction. Experimental results demonstrate that our novel framework can (1) construct ultra-low bandwidth video conferencing, (2) maintain high fidelity portrait and (3) have better performance on high-resolution video compression than previous works.