Enables inositol monophosphate 1-phosphatase activity and metal ion binding activity. Involved in inositol phosphate dephosphorylation; phosphatidylinositol biosynthetic process; and response to lithium ion. Located in axon and neuronal cell body. Human ortholog(s) of this gene implicated in autosomal recessive non-syndromic intellectual disability and intellectual disability. Orthologous to human IMPA1 (inositol monophosphatase 1). [provided by Alliance of Genome Resources, Apr 2022]