Plays a role in the formation of normal, flask-shaped caveolae at the cell membrane. Recruits DNM2 to caveolae, and thereby plays a role in caveola-mediated endocytosis. Plays a role in intracellular vesicle-mediated transport. Binds to membranes via its F-BAR domain and promotes membrane tubulation. Plays a role in the internalization of cell-surface receptors. Is not required for internalization of EGFR after EGF stimulus, but contributes to the internalization of EGFR in the absence of EGF stimulus.