Can a normal sim card on a contract have all the info transferred to a sim card which will fit in an iphone 4?

ask your wireless provider or consult the manual of the phone you're looking to transfer from.

With iPhones, the SIM doesn't carry much "info" at all. It only has a digital "key" that allows the device access to the cellular network. The iPhone and the SIM each have indentifying numbers and those are mated to the user's telephone number.

Making changes to either of those can be a simple as updating a database. Sometimes there's a bit more to it, but in any case, it won't involve any transfer of information from one SIM card to another.