Enables phosphatidylinositol-4,5-bisphosphate binding activity. Involved in endosome to lysosome transport; positive regulation of cytokinesis; and regulation of endosome size. Located in early endosome; late endosome; and midbody. Orthologous to several human genes including RNF103-CHMP3 (RNF103-CHMP3 readthrough). [provided by Alliance of Genome Resources, Apr 2022]