I've been reading the fine print of one of those "transfer your IRA to us and we'll give you a bonus" deals. This one says the bonus is put into the IRA as a contribution. But what if the IRA holder is not eligible to contribute (i.e. no earned income)? I suppose that means a withdrawal of excess contribution will be needed. And, if under age 59.5 the 10% early withdrawal penalty will apply, correct? Hmm, the bonus is not looking as attractive as it did initially.