The PI(3,5)P2 regulatory complex regulates both the synthesis and turnover of phosphatidylinositol 3,5-bisphosphate (PtdIns(3,5)P2). a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol-3,5-bisphosphate) + H2O = a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol-3-phosphate) + phosphate Component of the PI(3,5)P2 regulatory complex at least composed of ATG18, SAC/FIG4, FAB1 and VAC14. Ubiquitous with a higher level of expression in young seedlings than in other tissues. The phosphatase catalytic core motif (or RXNCXDCLDRTN motif) from the SAC domain is found in metal-independent protein phosphatases and inositol polyphosphate phosphatases.