Enables tumor necrosis factor-activated receptor activity. Involved in several processes, including negative regulation of extracellular matrix constituent secretion, regulation of nervous system development, and semi-lunar valve development. Acts upstream of or within several processes, including RNA destabilization, apoptotic signaling pathway, and negative regulation of inflammatory response. Located in membrane raft. Is expressed in several structures, including blood, dorsal aorta, extraembryonic component, genitourinary system, and liver. Human ortholog(s) of this gene implicated in several diseases, including Parkinsonism, acne, bone disease (multiple), glomerulonephritis (multiple), and lung disease (multiple). Orthologous to human TNFRSF1B (TNF receptor superfamily member 1B).