Essential component of the TIM23 complex, a complex that mediates the translocation of transit peptide-containing proteins across the mitochondrial inner membrane. Has some phosphatase activity in vitro; however such activity may not be relevant in vivo. May participate in the release of snRNPs and SMN from the Cajal body. Component of the TIM23 complex at least composed of TIMM23, TIMM17 (TIMM17A or TIMM17B) and TIMM50; within this complex, directly interacts with TIMM23 (PubMed:15044455). The complex interacts with the TIMM44 component of the PAM complex and with DNAJC15 (PubMed:23263864). Interacts with COIL and snRNPs (PubMed:16008839). Nuclear and enriched in speckles with snRNPs. Widely expressed. Expressed at higher level in brain, kidney and liver (at protein level). The FCP1 homology domain does not contain the canonical D-x-D-x-[TV] active site, suggesting that it probably does not display phosphatase activity in vivo. The disease is caused by variants affecting the gene represented in this entry. Belongs to the TIM50 family. Chimera.