Has phosphatase activity toward Ins(1,4,5)P3 and Ins(1,3,4,5)P4, but not toward Ins(1,4)P2, Ins(1)P (PubMed:11402208). Seems to be involved in the abscisic acid (ABA) signaling pathway (PubMed:12805629). Could also be able to hydrolyze PtdIns(4,5)P2 and PtdIns(3,4,5)P3 (PubMed:23658066). 1D-myo-inositol 1,4,5-trisphosphate + H2O = 1D-myo-inositol 1,4-bisphosphate + phosphate 1D-myo-inositol 1,3,4,5-tetrakisphosphate + H2O = 1D-myo-inositol 1,3,4-trisphosphate + phosphate Additional isoforms seem to exist. Expressed ubiquitously. Induced by ABA at both transcript and protein levels in a specific, transient manner. No visible phenotype. Slightly reduced production of reactive oxygen species (ROS) (PubMed:23658066). Alterations in germination and in early seedling growth. Enhanced sensibility to abscisic acid (ABA) with elevated levels of Ins(1,4,5)P3 (PubMed:17237190). May be due to a donor acceptor splice site. Belongs to the inositol polyphosphate 5-phosphatase family.