Enables inositol-4,5-bisphosphate 5-phosphatase activity. Predicted to be involved in apoptotic process and phosphatidylinositol dephosphorylation. Predicted to act upstream of or within several processes, including negative regulation of B cell proliferation; negative regulation of bone resorption; and regulation of hemopoiesis. Located in actin filament; cortical cytoskeleton; and cytosol. Colocalizes with plasma membrane. Orthologous to human INPP5D (inositol polyphosphate-5-phosphatase D). [provided by Alliance of Genome Resources, Apr 2022]