NAD-dependent aldehyde dehydrogenase that catalyzes the formation of retinoic acid (By similarity). Has high activity with all-trans retinal, and has much lower in vitro activity with acetaldehyde (By similarity). Required for the biosynthesis of normal levels of retinoic acid in the embryonic ocular and nasal regions; retinoic acid is required for normal embryonic development of the eye and the nasal region (By similarity). all-trans-retinal + H2O + NAD(+) = all-trans-retinoate + 2 H(+) + NADH Cofactor metabolism; retinol metabolism. Homotetramer. Belongs to the aldehyde dehydrogenase family.