TLDR:

Folic acid is a synthetic version of the B vitamin folate. It’s essential to functions in the body and is found in leafy greens, eggs, and citrus fruits.

Folic acid is a synthetic form of folate – now before we go any further, I would like to point out that folic acid is typically used over folate as it has better absorption. https://www.ncbi.nlm.nih.gov/books/NBK535377/#:~:text=1%5D%5B2%5D-,Folic%20acid%20is%20the%20synthesized%20form%20of%20folate%20present%20in%20fortified%20foods%20and%20supplements%20and%20has%20a%20higher%20bioavailability%20than%20naturally%20occurring%20folate,-.%20Folate%20has%C2%A0been -  it is also known as vitamin B7. If you fancy a more medical view on folate, then this article from the US Institute of Medicine makes for a pretty comprehensive read. https://www.ncbi.nlm.nih.gov/books/NBK114318/

So folic acid is one of the eight ‘B vitamins’. This group of vitamins are all water soluble and act as coenzymes, meaning they help enzymes in the body perform more efficiently and help you convert food into energy.

Because it is a water-soluble vitamin, our bodies don’t store it, so keeping it topped up through supplementation or diet is the best practice! It's available from a variety of foods, including leafy greens, eggs, and citrus fruits.

Cold hard facts

The European Food Safety Authority are pretty strict when it comes to what you can claim a vitamin or mineral does for the body.
As it relates to folic acid/folate, this is what can be said.

• Folate contributes to normal psychological function.
• Folate has a role in the process of cell division.
• Folate contributes to the maintenance of normal vision.
• Folate contributes to the reduction of tiredness and fatigue.
• Folate contributes to normal amino acid synthesis.

Scientific Opinion on the substantiation of health claims related to folate

As we always say, if you are concerned about these things, then it is always good to speak to a professional!