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Forewing light grey with darker brown markings and a small but usually distinct black discal dot. Four dark evenly-spaced costal wedges. AM, PM and median line variably developed; brown mottling distal to the bottom half of the PM line, this sometimes developed into a broad band. Hindwing lighter in colour, speckled with dark brown, and variable PM line and discal dot. Females slightly smaller and with more contrasting dark markings. I. loricaria and anataria are similar; loricaria males have less pronounced costal markings and a larger more diffuse discal spot, and females have vestigial wings. Anataria has a narrower, more elongate forewing and has a more pronounced concavity of the forewing apex, giving the forewing a more notched appearance. Anataria also has darker grey hindwings compared to exauspicata.

The immature stages are described in detail by McGuffin (1972), and the mature larva is figured by Wagner et al. (2001) and Wong and Ives (1988). Larvae are solitary, and the pupal period lasts about 21 days, with eggs overwintering (Prentice 1963, McGuffin 1972). Although larvae appear to have a relatively wide host range, this moth is rarely collected, and it is possible that adults are not attracted to light.

Prentice reports a variety of plants from which larvae were collected, but willows seem to be prefered. Larval collections were made from Salicaceae (58%) (Salix, Populus tremuloides, P. balsamifera), Betulaceae (23%) (Betula spp., Corylus cornuta, Alnus rugosa), Rosaceae (13%) (Prunus spp., Amelanchier alnifolia) and single collections on conifers, bur oak, and basswood (possibly accidental hosts).